Online Bookkeeper: Hire Expert Bookkeepers Now


For most businesses, selecting an online bookkeeper in favor of a traditional in house bookkeeper can be incredibly cost effective. Not only do you reduce your company outgoings in the way of taxes and salaries, but if your bookkeeper is on leave for any reason you won’t be left wondering how to fill out a multitude of reports. There is also the time you would dedicate to advertising for a bookkeeper, interviewing, cross checking references,etc. An online bookkeeper can be found easily with a little Internet research and a phone call or click of your mouse.

How do I find an online bookkeeper?

There are many online bookkeepers available, either in your local area or there are larger international companies online. Seek out reviews, check out their reputation, which services can they offer you? Research social media, people tend to vent and praise in equal measure on the likes of Twitter and Facebook – you will get an indication of the type of company they are. Look at company websites, do they look reputable? Have they got the correct accreditations and qualifications required to become your online bookkeeper? All of these questions should be answered so that you find a good, reliable and trustworthy company.

What can an online bookkeeper do for me?

Firstly, an online bookkeeper knows the software system they use inside and out, which makes your accounting simple to them. They know how to spot errors and erratic figures and they can correct them. Reports for tax returns and end of year fiscal reports can be actioned and printed out for you. If your online bookkeeper is authorized to deal with tax returns – that burden can be taken from you too. Any figures relating to accounts and receivable sales, payables, expenses and invoices can all be logged, processed and saved into a file, dated for you to check.

An online bookkeeper can also deal with payroll accounts. Employees can be paid directly, bonuses can be authorized and correct taxes paid to the authorities. It can all be taken care of for you. More explained in this post:

Financial statements are the cornerstone of your business, if you aren’t aware or up to date with how your business is doing you will never discover how to move forward or expand. Each month the online bookkeeper can provide reports for you which detail your profit and loss, incomings and outgoings and you can then decide how to proceed.

The benefits of this are unlimited, by freeing up your own time you can concentrate on creating business and ensuring your workforce are catered for. In addition, with generation of all of the reports you need you have the opportunity to discuss and plan strategy. Where is your business gaining money? Should you invest more into a certain product? Is a specific product modification costing you too much to make and do you need to renegotiate with suppliers? The reports give you a unique insight into how your business model is working.

Once you have found the perfect online bookkeeper for your business, have a chat with them, discuss pricing and how they will benefit your company. When you are comfortable with your decision, hand the reins to them and continue doing what you do best.

Continue reading »

Online Bookkeeping Services – Simple Solution, Excellent Results!


Before you begin to explore the wonderful world of bookkeeping, it is prudent to understand that accounting can be a complex function, and many tasks must be taken into account to ensure preciseness and accuracy.

A bookkeeper who is skilled in the accounting world is aware that even minor mistakes can create a deep chasm of problems for a business. Every detail should be entered with care and with no mistakes so that there are no issues further down the line.

Online bookkeeping is a cost-effective solution in the long term, it can help savvy business owners expand their business by enabling them to keep abreast of all financials in an easily logged system.

As well as increasing efficiency, the risks are dramatically reduced with online bookkeeping, ensuring mistakes or errors are highlighted swiftly and corrected with minimal effort and resources.

Erratic bookkeeping can ruin a profitable business, investing in the right professional service or automated system is the solution to ensuring your company stays in tip top position.

If you are just starting out and your business is expanding rapidly, why not speak with one of the professional online bookkeeping services out there? They can help discover your needs and set you on the path to profit, without compromising your time logging data and figures into the system.

Bookkeeping for many organizations is an activity which is completed for statutory and tax obligations, but there is so much more to it. Finding an online bookkeeping service who has knowledge of the latest legislation is a key factor for success. Review your online service, check for any feedback online and try to glean testimonials whenever possible. If you trust your online bookkeeper you can continue making profits for your business and leave the accounting to them with peace of mind.

Pricing is always going to be a factor when you take on a new service. Shop around, but also consider locality and reputation which is incredibly important. Your workforce and financial status are the backbone of your business, it is worth investing a little into your bookkeeping service to ensure your journey is smooth sailing. Someone who can prepare your reports and books for tax lodging, profit and loss accounts and end of year records is worth keeping hold of. Once you begin to communicate with your chosen online bookkeeping service they can discuss your needs and budget, you can take it from there.

Bookkeeper Melbourne at can help you keep everything in check. They offer competitive rates and can offer bookkeeping on your business premises or you can work with them online. They deal with both commercial and non-profit businesses in the Melbourne area of Australia and have an impressive pedigree – having provided an excellent service to the metropolitan area for over 20 years. Their focus is to ensure your accounts and profits are reported correctly and on time with minimum effort for you. Before you get stressed out because your bookkeeping isn’t going to plan, there is always someone to help just a phone call or email away.

Continue reading »

Manual vs. Automated Bookkeeping Systems-Which is Best?


There are many advantages to both manual and automated bookkeeping systems, your personal preference will dictate which is right for your business. But does one system offer more benefits than the other?

Manual Accounting is it for you?

A manual accounting system is where the bookkeeper or your accountant records any business transactions into a ledger by hand. They can use either a paper ledger or log book by creating sheets in an Excel format for example. The reason it is called manual is because the process is recorded individually by hand.

If you trust your bookkeeper implicitly and know they are accurate and reliable then manual bookkeeping may be the way forward. You can choose a single entry or dual entry system depending on the size of your business and your requirements. The bookkeeper will know exactly what they have logged and have a great insight when explaining the process to other members of staff. It is also a fail-safe way to ensure, if your computer systems went down, there is no need to panic as everything has been logged and all figures are safely tucked away in the ledger.

But what happens when your bookkeeper is on leave – do you have someone else to record the information so you don’t fall behind? Would it be easier to have a computerized automated bookkeeping system which is simple to use and explains everything to you as you go along?

Automated Bookkeeping

An automated bookkeeping system allows users to enter any transactions into the program just once, then accounts are updated automatically. An automated system checks supplies, cash incomings and outgoings and transactions. You don’t have to do much as the computerized process checks it all for you.

You can check the ledger details by time periods, say you were looking to bring up records from September 1st – 30th you simply type in the dates and all of your transactions for those dates will appear on your screen. It is an accurate way to bookkeep, it detects any errors and any figures which have been logged incorrectly. If you need to take reports to a meeting, or put files together for your company tax returns, then it is easier to print off the pages for the time period you need. With a manual system, even with the most experienced bookkeepers they would need to locate the dates, and information required and compile it manually into a report format. It can be time consuming and if you are working to a deadline it can put a lot of pressure on your bookkeeper.

If you are not a ‘figures’ person by nature and anything to do with accounting scares you,you could hire a bookkeeper to look after things for you, whether they work on a manual system or input everything into your automated process.

Realistically, the best of both worlds would be an ideal solution – using an automated bookkeeping system to create the records, then print off an additional copy and place it in a manual ledger, you then have a backup for all transactions and reports and everyone will be aware of the process.

Continue reading »

7 Advantages of Double Entry Bookkeeping

Busy females

Bookkeeping has two specific systems which are used daily by both small and large organizations – the systems are known as single or double entry bookkeeping.For small businesses a single entry system may suit your requirements, but if you have many transactions and need to keep on top of them, double entry bookkeeping could be for you.

How does it work?

Single entry bookkeeping is a simple, easy to action process which involves a single transaction being recorded. Each entry will reflect the debit or credit of cash to and from your company. It can keep track of your funds in a cost effective way, and is easily maintained with little effort. This process takes into account any receivables, payables, taxes and also records cash transactions. If you’re looking for a more in-depth process which will record inventory, expenses and revenue for example – you may wish to use a bookkeeper or double entry bookkeeping service. More details here.

Double Entry bookkeeping is a thorough way to balance your books. It offers the ability to record assets, liabilities and taxes in addition to expenses, revenues and inventory. When using single entry bookkeeping you record one transaction into just one column, with a double entry process it makes dual entries for every single transaction. For example, you can record a credit entry for revenue coming into the business, and a debit for the transactions which have been paid. Both entries will offset each other so that accurate figures can be maintained.

Other advantages over single entry bookkeeping include:

  • Preparing financial statements easily due to credit and debit dual entry calculations.
  • You can quickly determine the business’ financial position and commitments.
  • It takes internal transactions into account too, making it easier to calculate taxes and fiscal information come the year end.
  • Double entry bookkeepers offer detailed records of all assets, ensuring your business doesn’t lose track of valuable income.
  • Important details cannot be missed out; each transaction is recorded twice in dual columns.
  • It becomes easy to track who owes the company money and who you need to pay easily by detailing all sales and purchases.
  • Checks are undertaken when transactions are recorded, this ensures the total amount of entries for debit, equals the total amount for credit. Wrongdoing and errors can be easily spotted, so your company doesn’t lose out.

Double entry bookkeeping is incredibly versatile and practical for detecting any errors or fraudulent behavior, if the bookkeeper logs the information correctly in the first instance, this is a fool proof way to ensure you company always stays ahead of the game. You will find your fiscal and financial records are all maintained with precision and correctness, you can keep a close eye on incomings and outgoings, profit and loss and organise your end of year taxes better.

Bookkeepers Melbourne are an organization who can help you stay ahead, with great advice on how to manage your business’ bookkeeping they are available to assist with any questions you may have. Take a look at their website for further details.

Continue reading »