Small Business Bookkeeping Services
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Small Business Bookkeeping Services
As a small business owner, imagine sipping your morning coffee with the peace of mind that every dollar is accounted for!
Bookkeeping is not just about record-keeping- it’s the compass that navigates your business to success.
A small business bookkeeper will streamline your financial operations with services ranging from data entry to financial reporting. Such assistance can save you time, money, and stress so you can focus on running and growing your business.
At GeekBooks, our professional, dedicated bookkeepers can help your business by accurately tracking your expenses and managing cash flow, in turn guiding you in making informed financial decisions.
With affordable rates starting at just $25/hour, and a customer-friendly, 30-day money-back guarantee, finding a bookkeeping solution that works for your business has never been easier.
So whether you’re a local hardware store dealing with multiple suppliers or a bustling cafe with changing revenues, our small business bookkeepers will simplify your financial journey so you can get back to the work you love.
What Is Bookkeeping for Small Businesses?
What does a bookkeeper do for small businesses?
Let's take a look at five core services.
Data Entry
Data entry is the foundation of bookkeeping. It involves correctly reporting sales and purchase transactions, invoices, and receipts. This structured documentation of economic activities facilitates successful tracking and review, aiding smart decision-making for your business.
Accounts Payable and Receivable
Accounts payable refers to what your business owes suppliers, while accounts receivable is all about what customers owe you.
Balancing these accounts results in smooth cash flow, allowing you to plan and budget effectively. And these services often integrate with data entry to maintain an accurate record of transactions.
Bank Reconciliation
Bank reconciliation compares your internal financial records against your bank statements to ensure accuracy and catch discrepancies.
Regular bank reconciliations are crucial for identifying fraudulent activities, preventing financial errors, and validating your cash position.
Payroll Processing
Handling payroll accurately and punctually is necessary to keep employees happy and comply with tax obligations.
Payroll processing includes managing wages, calculating deductions, and fulfilling tax obligations, such as income and payroll taxes.
Financial Reporting
Financial reporting provides insights into your business's financial health. It includes preparing income statements, balance sheets, and cash flow statements.
Financial reporting works hand in hand with all other bookkeeping services, drawing from the data recorded to offer valuable insights for decision-making, analysis, and compliance purposes.
Why Choose GeekBooks for Bookkeeping Services?
With GeekBooks, you get more than just a bookkeeping service. You gain a partner committed to helping your business succeed financially.
As expert small business bookkeepers, we
Offer comprehensive bookkeeping solutions tailored for all small business types, giving you the support your business needs every step of the way.
Uphold strict data privacy standards. As one of Australia's leading bookkeeping providers, we deliver a safe, reliable service you can trust.
Stay up to date with current tax legislation to keep your books in order, reducing the risk of penalties for inaccuracies.
Use compatible popular accounting software, including Xero and MYOB, for seamless integration with your systems.
Assign you a dedicated bookkeeping professional to address all your bookkeeping needs for a smooth, stress-free experience.
Keep our fees as low as possible. Our bookkeeping packages kick off at an affordable $25 an hour.
Provide a 30-day money-back guarantee for extra client confidence.
Offer comprehensive bookkeeping solutions tailored for all small business types, giving you the support your business needs every step of the way.
Uphold strict data privacy standards. As one of Australia's leading bookkeeping providers, we deliver a safe, reliable service you can trust.
Stay up to date with current tax legislation to keep your books in order, reducing the risk of penalties for inaccuracies.
Use compatible popular accounting software, including Xero and MYOB, for seamless integration with your systems.
Assign you a dedicated bookkeeping professional to address all your bookkeeping needs for a smooth, stress-free experience.
Keep our fees as low as possible. Our bookkeeping packages kick off at an affordable $25 an hour.
Provide a 30-day money-back guarantee for extra client confidence.
Why Does Good Bookkeeping Matter?
In the whirlwind of running a small business, it's easy to overlook the importance of diligent bookkeeping.
Maintaining accurate and up-to-date financial records is not just a necessity- it's a catalyst for success. Neglecting this vital step could lead to severe implications, ranging from cash flow problems to hefty fines and legal consequences.
Here's why good bookkeeping truly matters to help you avoid getting into financial trouble.
Dodge Financial Disarray
You could quickly find your small business in trouble without organised, precise records. Overlooked payments, untracked income, and incorrect reporting will give an unclear picture of your company's financial health, negatively affecting decision-making and threatening stability.
Good bookkeeping needs to be the foundation you build your business on. Small business bookkeepers will provide reliable financial reporting to give you a clear and comprehensive idea of the financial state of your business. Then you can move forward by making decisions to support growth.
Avoid Penalties and Legal Consequences
Missteps, like late tax filings, errors in payroll, or improper financial reporting, can result in hefty fines and even legal ramifications.
Timely and accurate bookkeeping is essential in complying with tax laws and financial regulations, minimising non-compliance risk and associated penalties.
Prevent Cash Flow Problems
Ineffective bookkeeping can lead to severe cash flow issues. If you're not diligently tracking accounts payable and receivable, your business might be short of funds when bills are due or struggle with unpaid customer invoices.
Proper bookkeeping allows for smart cash flow management to help your business operate smoothly and successfully.
Answers to Your Bookkeeping Questions
A question we’re often asked is, “How much does a small business bookkeeper cost?”
The average hourly rate for bookkeepers can range from $25 to $50 an hour, depending on experience and location.
It’s important that you discuss your budget and expectations with your bookkeeper so you’re both on the same page.
Yes, small businesses should definitely hire a bookkeeper!
Proper bookkeeping is essential for financial success and compliance with Australian tax laws.
A skilled small business bookkeeper will take this burden off your shoulders, helping you focus on growing your business instead of worrying about finances.
Typically no. A bookkeeper makes sure all invoices are paid and financial records are updated, but the actual handling of cash is not usually part of their job description.
Only a registered tax agent can legally prepare and lodge tax returns in Australia.
However, bookkeepers can be instrumental in preparing the necessary financial data for tax returns, working closely with tax agents or accountants during the process.
Get Answers From a Small Business Bookkeeper
Your financial journey as a small business owner doesn’t have to be daunting.
Let GeekBooks navigate the numbers to help steer your business to success!
We’ve got your bookkeeping needs covered with our affordable rates, comprehensive services, and no-hassle, 30-day money-back guarantee.
Whether you’re just starting out or looking to streamline your current financial processes, our expert small business bookkeepers are ready to tailor a bookkeeping plan just for you.
Complete our online booking form or call 02 9158 3591 for a free quote today.
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