7 reasons why you should hire a virtual bookkeeper

Running a business can be extremely difficult. Not only do you have to keep on top of operations, but simultaneously there are managing employees, overseeing ongoing finances, and ensuring you’re consistently complying with the Australian Government. Trying to juggle all these things by yourself can often feel impossible. If you’re starting to feel the weight of administration on your shoulders, perhaps it’s worth considering a virtual bookkeeper – here are seven reasons why a virtual bookkeeping service provided by us, The BAS Agents, can assist with taking the pressure off business owners.

We’re bookkeeping experts

When you engage The BAS Agents, you’re not hiring a single person, you’re hiring a team of experts with decades of experience across a variety of industries. Even though you will be assigned your very own agent (who we think is best suited to you and your organisation) you’ll always have access to the rest of the team. We work together, sharing our knowledge and expertise to ensure the best possible outcome for your business. Providing unclear or incomplete information

We’re registered ASIC agents

We’re proud as punch to say that we’re registered ASIC Agents – meaning we can go one step further, assisting with all the legalities that come with running a business.  We can help with setting up companies and transferring business ownership. Haven’t registered your business name yet? No worries, we’re here to help. Perhaps you’re a sole trader but ready to become a trust or company for more security. You guessed it, we can do it.

We’re registered BAS agents

If your business’ gross income (excluding GST of 10%) equates to $75,000 or more, you must register for GST. And, any business that has registered for GST must lodge a Business Activity Statement (BAS) on a monthly or quarterly basis. It’s imperative that you don’t risk your business with an unregistered and inexperienced bookkeeper. As innocent and unintentional as they can be, mistakes are costly. Not only could you be paying more than you need to, but you could also be misreporting information to the ATO.

When you use a registered BAS Agents to lodge on your behalf you received additional benefits from obtaining their services. Apart from receiving an additional month to lodge your instalment and business activity statements (aka IAS and BAS), you’re also protected by the organisation’s insurance policy in case any errors or mistakes are made on your file. 

We can help avoid errors

Hiring a professional bookkeeping firm will ensure minimised errors. This is important because simple mistakes or the odd slip up can cost you – penalties, fines, or thousands of dollars in back payments. These basic errors are preventable penalties and can be avoided with the help of a qualified bookkeeper and registered BAS Agent. You can check if your bookkeeper is a registered BAS Agent by visiting the Tax Practitioners Board.

We can save you time and energy

Are you the one ‘managing’ the books? And, how long does it take out of your working week or even family time? Depending on the size and type of business an owner can spend anywhere from five – 24 hrs a week uploading bills, invoicing, reconciling transactions and chasing accounts receivables. It’s worth noting that when you outsource your bookkeeping, you’ll gain hours back – time that you can spend focusing on growing your business well into the future.

We’re cloud-based and have a serious love for automation

This means we can service your organisation from anywhere in Australia without the complications of a physical paper trail and our team of experts are trained in several integration systems. It doesn’t matter if you’re a tradie wanting to record employees work time per job site or a gym wanting to track members, we come with the right knowledge and the right technology to support you. Like you, we want to work smarter, not harder.

You can gain a better analysis of your business

As qualified bookkeepers we can provide you will accurate business reporting and analysis. This means you’ll know exactly how your business is performing and what areas need improving. We can also provide you with business insights on cash flow, accounts payables and receivables – advice, guidance, and direction all on call.

So why a virtual bookkeeper?

Hiring a bookkeeper for your organisation is unquestionably a smart business decision. If you’re business is at the stage where assistance is required, then it’s worth trusting a bookkeeping firm with knowledge, passion, and plenty of experience.

We can manage your finances for you whilst you do what you do best – running a successful business. If you’re ready to hire a bookkeeper or have any questions around this virtual service, then contact us today for a free consultation.