Is bookkeeping a burden for you?

Pete from Accounting Payroll Solutions

Considering it’s so important, it’s surprising how many business owners dread the regular date with their books. Much of the reluctance stems from confusion, either through lack of bookkeeping knowledge or through using a system that’s too complicated for their needs.

If bookkeeping is a “burden for you” then we can help!

* Thinking of hiring someone to keep the books up to date for you and to prepare the final tax return will take the burden off your shoulders. Starting out with a compatible bookkeeping system will save time and money in the end.

Call Pete at Accounting Payroll Solutions in Aongatete, today on 07 549 3593 or email: aps.accounts@xtra.co.nz for a no charge analysis of your present or starting out financial position prior to your End of Year 31st March 2018 filing of returns with the IRD.

* We can advise of what paper you need to keep on file and which documents can safely be stored in a solely digital format.

* Electronic submission of the tax return is also easier for many than filling in long forms, and if you run an online accounting package much of the information will be automatically collated as you update your records.

* Link Your Online Accounting Package to Your Bank Account with BankLink that reconciles to your bookkeeping software, which saves a load of time. All the transactions that pass through your bank are uploaded each day, so all you have to do is log in and check each transaction.

Know Your Income Goal
The numbers can get complicated when running a business. Keep it as simple as possible by knowing exactly how much you need to make each month to meet upcoming obligations. Without knowing how much business you need to generate, you’ll end up juggling figures trying to make ends meet. Everything falls into place better when you know exactly what’s going out and can balance it, profitably, against what’s coming in.

Don’t Procrastinate
The thought of bookkeeping rarely sets the world on fire. But it is strangely satisfying to fill in the columns, add up the totals and see how the business is growing. Even if you see it’s not growing, it’s satisfying to identify the shortfall and figure out what needs doing to turn things around.

* Take care of logging expenses on a daily basis. While the business is very small you can maybe get away with weekly bookkeeping, but not for long. Build a system from the start that you understand and can easily update.

* There’s no way to avoid bookkeeping, but it doesn’t need to be a massive chore. And if it is, despite a system that works and an understanding of how things pull together, outsourcing all or part of the process should be a top priority.

* A clever financial advisor can find all sorts of ways to save you money, as well as relieving you of the hassle.

Call Pete at Accounting Payroll Solutions in Aongatete, today on 07 549 3593 or email: aps.accounts@xtra.co.nz for a no charge analysis of your present or starting out financial position prior to your End of Year 31st March 2018 filing of returns with the IRD.



All the very best for the New Year 2018!