Bookkeeping
Bookkeeping is simply the regular periodic recording of your business’ financial transactions and business data to make it easier for you, the owner, as well as the government to track all important information about your business activities.
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What is Bookkeeping?
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Bookkeeping is simply the regular periodic recording of your business’ financial transactions and business data to make it easier for you, the owner, as well as the government to track all important information about your business activities.
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This is done by qualified bookkeepers whose job it is to manage all financial data by establishing systems and processes that help ensure all reports and statements are up to date and accurate.
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Accurate bookkeeping is crucial in producing compliant tax returns which will help you avoid penalties from the ATO for non-compliance. It provides proof of all activities that your business does and helps you track your business performance accurately. From small equipment purchases to large financial loans, it keeps track of all transactions made by the business.
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What are the Benefits of Sound Bookkeeping ?
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Gain a truly reliable measure of your business’ performance
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Benchmark revenue and profit goals for ongoing improvement
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Provide key information to make crucial strategic business decisions
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Deliver accurate information to investors, financial institutions, and the government
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Streamline systems and processes for business improvement to achieve sustainable growth and expansion
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Less time spent on fixing errors and meeting government compliance requirements
