The Secret to an Error-Free BAS Report

What To Do So You Don’t Lose Money When Doing Your BAS

lodging correct business activity statements
Why pay more money to the ATO at your expense? A good bookkeeper may save you money when it comes time to lodge your BAS.

If your business is registered for GST, it means you have to file regular activity statements with the ATO, usually each quarter. A lot of business owners export their Business Activity Statement (BAS) data straight from their accounting software, like MYOB or QuickBooks, and quickly prepare their BAS’ that way. But this is an imprecise method, and one that could be costing you money.

Tracey Marino, an experienced bookkeeper based in Rockingham, WA, knows how important it is that businesses of all sizes keep their Business Activity Statements error-free so as not to end up costing business owners money. 

An Error-Free BAS in 6 Steps

Here’s six steps you can take for an accurate BAS:

  1. Check to ensure all bank, credit card, overdraft, loan, and petty cash accounts are reconciled with the original bank statements at the end of every BAS quarter.
  2. Print your monthly profit and loss (P&L) report for the respective BAS quarter, and check for abnormalities in income or expenditure over the three months. You should also compare this quarter’s P&L report with the P&L report from the previous quarter (in the same financial year), as well as the P&L report from the same quarter in the previous financial year to detect any unexpected transactions.
  3. Print out the balance sheet as at the end of the BAS quarter. Note the balances for the wage and salary, payroll, payable, super expense and payable, and PAYG and GST accounts, and investigate any abnormalities.
  4. Generate the general ledger exceptions report to review any abnormal transactions. This report will indicate any differences in the GST codes for the same types of purchases or sales by comparing the current transactions with previous transactions.
  5. Print your BAS and compare with it with last quarter’s BAS, as well as the BAS from the same quarter of the previous year, and ensure that your GST, PAYG, sales, and purchases are consistent across all three BAS’.
  6. Lodge and pay your BAS on time to avoid penalties, and remember to record the BAS payment in your accounting software.

Although this may appear to be ‘double handling’, in fact, it eliminates double handling by ensuring that the activity statements you lodge with the ATO are correct and error-free. Typically, the mistakes this method turns up are ones that would be of benefit to the ATO and not to the business owner. So rather than give the ATO more money than you need to, make sure you follow this method for an error-free BAS lodgment.

An Experienced Bookkeeper in WA

bookkeeper-rockingham-wa
Tracey Marino is available to provide bookkeeping services in the Rockingham area of WA.

Looking for a reliable and accurate bookkeeper to manage your business’ daily or weekly bookkeeping and accounts, either in the cloud (remotely) or in-person?

Tracey Marino is available to service businesses located in Port Kennedy, Warnbro, Baldivis, Secret Harbour, Golden Bay, Safety Bay, Shoalwater, Rockingham and Cooloongup, WA. Tracey is a an expert in MYOB AccountRight, QuickBooks and Microsoft Excel and can prepare and lodge your company’s BAS, set up credit management systems, along with carrying out all manner of day-to-day accounting functions for small to medium businesses. Find out more about Tracey’s experience at her profile page.

Our National Bookkeeping website has recently undergone a significant upgrade so keep a look out for more stories about featured bookkeepers in forthcoming blogs. Join now and we can feature YOU in our articles too.

Three Things Your Bookkeeper Shouldn’t Be Doing

Is Your Bookkeeper Making Stuff Up?

how-to-find-a-good-bookkeeper
Some bookkeepers may fudge their way through your books, but you can spot this before it ends up costing your business.

In a previous post we wrote about the three tell-tale signs that your bookkeeper isn’t paying attention and we thought we’d expand on this a little further by writing about three of the things your bookkeeper shouldn’t be doing — and what it means if they are.

 1. Your Bookkeeper Adds Adjustments to Reconciliations

The reconciliation is just a comparison between your records and those of the bank, so if you see reconciliation adjustments, something’s wrong. A bookkeeper should never make reconciliation adjustments, because it means they haven’t accounted for something properly and, instead of trying to find it, they gave up and made an adjustment instead. This is a classic example of why daily reconciliations are a good idea.

2. Vague Descriptions for Transactions

A good bookkeeper should know exactly what descriptions to use for each of your transactions, so if you see strange or vague ones like “opening balance??”, it’s a sign your bookkeeper doesn’t know what they’re doing. By the same token, if you see that the description field has been left blank or there are lots of journal entries, this should likewise raise a few red flags.

3. Lots of Old Transactions in Undeposited Funds Field

In most cloud-accounting software packages, such as QuickBooks, Xero and MYOB, there’s an undeposited funds account, where certain unreconciled transactions may sit. If you see lots of old transactions sitting there, it’s a sign your bookkeeper doesn’t understand what this feature is for or how to work with it, and as such, they’re manually recording deposits, which will overstate your income or sales.

If you’re seeing any of these things happening with your bookkeeping, you should speak to your bookkeeper straight away. It’s a clear sign that they don’t understand your accounting software properly, and you will pay for it later — usually when you go to see your accountant at tax time. Ensure your bookkeeper is qualified to work with the accounting package you’re using, and, ideally, that they have the equivalent of a Cert IV in Bookkeeping or higher.

 

Finding the Right Bookkeeper

finding the right bookkeeper for your businessBookkeepers seem to be ‘ten a penny’, but like in most professions, the really good people tend to stand out. A competent bookkeeper — someone who really listens, who understands the software and who prioritises your business — is crucial to a business of any size. A quality bookkeeper will help see to it that you’re not overpaying tax and meeting your payment obligations to staff, of course, but they can also help you put in place proper credit and debt management procedures and processes, something vitally overlooked by many small businesses (and yet most small businesses go insolvent as a result of cash flow problems — many of which stem from non-paying or late paying clients).

If you are after an efficient bookkeeper and you run a business in Meadow Springs, Parklands, Silver Sands, Mandura, Halls Head, Erskine, Dudley Park, Coodanup, Furnissdal or Barragup or Rockingham in WA, Deb Crompton is a tertiary-qualified bookkeeper with plenty of experience in bank reconciliations, invoicing, accounts receivable and payable and reporting; she also has the practical experience of having operated her own business in the past. You can see more details about Deb at her profile page or request a quote for a similarly experienced bookkeeper in your area. Our directory includes many degree qualified local bookkeepers, who are ready to start working with your business, in person or in the cloud.

Check out our National Bookkeeping website which has recently undergone a significant upgrade. We will keep feature more of our bookkeepers in forthcoming blogs — join now and we can feature YOU in our articles too.

The 3 Tell-Tale Signs Your Bookkeeper Isn’t Paying Attention

Are You Getting the Best from Your Bookkeeper?

find-a-good-bookkeeper
You don’t need to be a whizz at bookkeeping to recognise when your bookkeeper isn’t prioritising your business.

MANY BUSINESS OWNERS LACK an in-depth knowledge of the bookkeeping process so they hire a bookkeeper to manage it for them.

But this can also make it hard to know whether the bookkeeper they’ve hired is paying close attention to their business’ books or not.

Ricky is a tertiary qualified bookkeepers from Blacktown in NSW, and he reveals there are three tell-tale signs your bookkeeper isn’t paying attention.

1. They’re always behind with your books

This is pretty common among a lot of bookkeepers, and it’s usually because they’re not motivated to do a good job. A good way to nip this in the bud, is to communicate key dates or timeframes with your bookkeeper.

If you need bills entered every Wednesday and a profit and loss statement on the fifth of each month, say so. That way you’ll know whether snoozing on the job or not.

2. You accountant’s bill is still high

If the bill from your accountant is still as high as it was when you didn’t have anyone managing your bookkeeping, it’s a good sign that your bookkeeper’s work isn’t up to standard. If your accounts are unorganised and unbalanced, it means your accountant will have to go through and review the information before they can do their job. That’s double handling, and you need to get to the bottom of it as soon as possible.

3. They don’t understand cash vs accrual

finding-the-best-bookkeeper
Is your bookkeeper puzzled? A good bookkeeper knows what they don’t know. If they’re unsure about cash accounting, they should let you know this.

Because many bookkeepers today, particularly contract and remote bookkeepers, got their start after cloud-accounting software became popular, lots of them don’t understand the difference between cash and accrual accounting systems simply because software like Xero and QuickBooks defaults to an accrual system.

Cash and accrual systems each have their own merits, depending on the size and complexity of the business. So it’s important that your bookkeeper knows the difference between and understand the benefits of each.

 

Does Your Business Need a GREAT Bookkeeper?

Tertiary-Qualified, Thoroughly-Vetted Bookkeeper Available in Sydney’s West

Like GPs, there’s usually a bookkeeper on every corner, but how do you find someone who you really trust and who genuinely has the best interests of your business at heart? Some business owners are unsure where to start when looking for a bookkeeper they can trust and rely on.

It’s also extremely concerning how many Australian small businesses suffer — to the point of insolvency — as a result of inadequate cash flow. A large portion of cash flow problems stem from credit and debt management and the systems business’ put in place to do this. This is something that can be handled by a competent and experienced bookkeeper. But it’s also about business owners understanding the need to make this a priority.

In finding the right bookkeeper, word of mouth can be helpful, but some people are reluctant to even do this for fear of losing a cherished and valuable resource. A great deal of trust is also placed in giving such sensitive financial information to bookkeepers and some people don’t like their bookkeeper doing work for other people they know.

If you’re looking for a reliable, thoroughly-vetted bookkeeper, capable of managing your daily/weekly bookkeeping and accounts, either remotely or in person, our National Bookkeeping directory features dozens of tertiary qualified bookkeepers available to assist you.

If you are located in Sydney’s western suburbs, Ricky from Blacktown, NSW, is a qualified bookkeeper with tertiary qualifications; he is also a registered BAS agent. Ricky has a great deal of experience in the day-to-day accounting functions of a small business, from invoicing, accounts receivable and payable, to payroll, financial analysis and reporting. Visit his profile page and request a quote for bookkeeping services.


find a local bookkeeper

Our National Bookkeeping website has recently undergone a significant upgrade so keep a look out for more stories about featured bookkeepers in forthcoming blogs. Join now and we can feature YOU in our articles too.

 

What if a Credit Check Comes Back Negative?

Do You Have to Drop a Client Because of a Bad Credit Check?

customer-with-bad-credit-rating
It’s only business: but sometimes a bad credit rating doesn’t mean you have to end the working relationship.

A Credit Check is one of the most important first steps of good credit and debt management but you can still do business if the check comes back negative.

In our previous post on credit and debt management, we recommended that all businesses — regardless of whether they offer credit to customers on a 30-day account or not — perform a credit check on any new client who will spend more than $1000 on goods or services in one sale, on an ongoing basis. But what should you do if the credit check comes back negative, and shows that the potential customer is guilty of late payments, pending legal action or already carries a significant level of debt?

It may not be a case of having to turn a potential customer away. You may still be able to offer services to the customer without the risk that they won’t pay by trying the following approach, before refusing them entirely:

Advise the Client of the Bad Credit Rating

If the client filled out your credit application or work authorisation form, which should have stated that you were collecting their information for the purpose of credit check, there may be a good chance they filled it out in good faith and they’re unaware of their bad credit rating. There may be a reason for the rating, like, for instance, that the business was recently sold. It may even, potentially, stem from an ongoing dispute with another supplier over the standard of their goods or services (although proceed with caution here, as this, too, throws up a few red flags).

Look a Little Closer

When you search deeper, you might discover that the customer experiences predictable fluctuations in trading conditions which render them more vulnerable to being cash flow poor at certain times of the year. You may be able to accommodate this in how you design your credit terms with this customer. You might also ask for a list of suppliers (ensure you get a complete list, not one that has been hand-picked by the customer to only show them in a positive light) who you can call and verify as to their likely credit risk for future.

Request Payment in Advance

This said, a bad credit rating is a bad credit rating, even if the client has a perfectly good and reasonable explanation for you. You have the upper hand here, so you’re well within your rights to only agree to do business with this client so long as they pay for your goods or services in advance.

If you’re a supplier, say, of goods and your delivery driver has the capacity to accept cash payments on delivery, you may accept COD, however it’s not recommended. If the client is unwilling to prepay for your goods or services, then there’s a good chance they’re not acting in good faith, and so you’re best to avoid doing business with them.

Need a Bookkeeper? Sydney’s North Shore

good-qualified-bookkeeper
We have qualified, professional bookkeepers available Australia-wide.

If you’re in need of some help with your own business’ credit and debt management and are seeking a reliable bookkeeper to manage your daily or weekly bookkeeping and accounts, either remotely or in-person, we are pleased to recommend Roz, qualified bookkeeper based at St Ives, with tertiary qualifications in accounting. She is a National Bookkeeping member and comes to us with the practical experience of having operated her own business and proficient in the day-to-day accounting functions of a small business. Visit her profile page and Request a Quote for Bookkeeping Services.

Our National Bookkeeping website has recently gone through a significant upgrade so keep a look out for more stories about featured bookkeepers in forthcoming blogs. If you’re a bookkeeper why not join and we can feature YOU in our articles too.

Is Credit Management Just About Getting on the Phone?

It’s Good Business to Set Out Your Credit Management Policy at the Outset

credit-management-bookkeeping-business
Spelling out your credit management procedure at the start with a client helps avoid payment-chasing phone calls later.

CRITICAL TO THE SUCCESS OF ANY BUSINESS is the ability to maintain a healthy cash flow. But doing so requires effective credit management processes.

Unfortunately, too many business owners feel uncomfortable talking about credit and debt management upfront with new clients.

They (falsely) believe it begins if, and when, a customer doesn’t pay a bill. But, in fact, credit management starts much, much earlier than that — long before the two businesses even agree to work with each other, to be precise.  

The 3 Stages of Credit Management

Credit management falls, generally, into 3 broad stages, beginning with how new customers are assessed before you do business with them.

If you extend a line of credit to your customers, payable on a 30-day account, then a credit check is an imperative first step. But even if you don’t offer credit, a credit check should be a routine part of the new customer set-up process.

If you provide services to customers that aren’t paid for in advance or upon receipt, and you allow that customer between 14 and 30 days to pay your invoice, you’ve essentially just extended them a line of credit.

Indeed, it’s recommended that any business, whether they’re a sole trader, freelancer or independent contractor, carry out credit checks on any new, ongoing customer for jobs over the value of $1000.

Stage 1: Assessment

The assessment stage of good credit management involves taking the following steps:

    • Create credit application or work authorisation form
    • Establish terms of trade
    • Obtain a credit check

As long as the credit check doesn’t raise any issues of concern in relation to the business’ previous track record with paying suppliers on time, you can then decide to take them on as a client. From here you move to the next stage of credit management.

Stage 2: Management

This is the most involved stage of the credit management process, as it requires diligence to ensure your processes don’t slip. Some aspects of the management stage may require a phone call to your client to find out why they haven’t paid.

However, for the most part, cloud-accounting software has made it a lot easier to stay on top of your debtors. Ensure your process includes the following:

  • Prompt invoicing (as soon as goods / services have been provided)
  • Establish payment reminders, either by email or text
  • Send regular statements (if customer is on a 30-day credit account)
  • As soon as payment is overdue and in breach of terms of trade
  • Send to debt collection.

If you speak to your client twice about an overdue invoice / account, and they still don’t make payment within an agreed time, refer them to your debt collection agency, however harsh that may seem.

Stage 3: Enforcement

Although debt collection agencies can chase a debt that’s as much as 5 years old, the older the debt, the harder it is to collect payment.

As soon as a client is in breach of your terms of trade, and your other attempts to collect payment have failed, refer the debt to your collection agency.

If debt collection is unsuccessful, you should speak to your accountant or financial advisor about writing the debt off in your next tax return.

Good Credit Management Should Mean Few Phone Calls

credit management chasing payment
Avoid time-wasting and unpleasant phone calls by eliminating the chances of late payment through a professional credit management policy.

So the upshot of all this is a big part of a good credit management process is properly vetting all new customers before you do business with them. If this is the case, you should rarely have to pick up the phone to chase them for payment.

In that sense, credit management is not about getting on the phone. Rather, it’s about implementing a range of procedures for managing your debtors, and it begins before you even do any work for them.

We Can Help You Set Up Your Credit Management and Much More

Is your business yet to set up proper credit management systems?

Having the assistance of a reliable, experienced professional to help you do so may cost a lot less than you think. We have thoroughly-vetted, reliable bookkeepers across Australia, capable of setting up your systems so you can continue to do your bookkeeping yourself, or able to keep managing your daily or weekly bookkeeping and accounts.

In your office or in the Cloud

This can be done remotely or in person, with most of our bookkeepers tertiary qualified and able to assist in basic bookkeeping to more complex accounting tasks. These might include accounts receivable and payable and payroll, or financial strategising.

We also have registered BAS agents in our national directory. See our newly upgraded website, National Bookkeeping for more information.

Bad Payers Cost 12 Working Days to Collect $13,200

Credit Management is an Extra Job

credit-management-training-assessment-management-and-enforcementI’ve always believed that as soon as you offer credit you’ve got yourself another business – a credit management business. When we first created our MYOB Daily Transactions course we designed it to take students through the cashflow process of where money goes when it first leaves your bank account and these are the main steps:

  1. Money in the bank (cash asset)
  2. Buy stock (inventory asset)
  3. Products sold on account (accounts receivable asset – Trade Debtors)
  4. Customer pays their account (cash asset)

The interesting part of this business process to me is the marketing (choosing the products, pricing, marketing message and advertising) and the credit management to get the money back. Each of these stages and their tasks carry a certain amount of risk but the credit risk part is actually something you can manage to try to eliminate altogether, but it takes work and a system.

Well the good news is that we’ve created a Credit Management Training Guide that goes through the different parts of your business where you can put measures in place to reduce this risk significantly – even if you are in the trades or building industry.

Credit Management is a Job for Contractors

credit-management-accounts-receivable-payable-and-data-entry-are-jobs-for-contractors-with-their-own-bookkeeping-businessMany tasks in businesses these days is actually contracted out to independent contractors because of the flexibility and credit management is a great example because it can be performed a day a week (for smaller businesses) and it can even be performed by a remote contractor (virtual assistant) working from their own home office. See Credit Management Services at Natbooks! 

Since we’ve started working with local bookkeepers at National Bookkeeping we’ve realised that credit management and daily transactions type work is by far the most common form of task performed by a bookkeeper. The rate of pay for bookkeepers performing this work is generally lower, but it’s a great option for people like working mums or dads who want to fit their work into their children’s school schedules as well as corporate accountants who want to make a start on their own bookkeeping business in their local area.

The corporate accountants or accounts managers we speak with often start performing this work in their new bookkeeping business but as their business grows they fill this position with a contractor of their own. Pre Qualify to join National Bookkeeping

Paypal and Quickbooks

Quickbooks Online is back and they want to beat MYOB and Xero
Stop tearing your hair out chasing money 

Last year I wrote about the joint venture between Quickbooks (Intuit) and Paypal and how they want to help businesses get paid faster. They commissioned a study last year found that Australian small businesses are owed a collective $26 million in unpaid invoices. That’s roughly $13,200 owed to each business at any given time, for which business owners will spend an average of 12 days chasing them each year.

It’s a lot of time and effort to earn that kind of money particularly if you’ve actually already earned it by supplying your products and services!

Check out our Credit Management information page and watch out for the announcement when we include it as a student inclusion for ALL students. We created this guide to help businesses use their accounting software to better manage the credit risk in their business. We’ve included information for builders and contractors about the Security of Payments Act.

 

BAS Service deadline looming – BAS Audits, self assessment and benchmarks

BAS Service, compliance anxiety and cash-flow

MYOB GST, reporting and BAS training coursesIt’s that crazy time when the end of financial year TAX and quarterly BAS periods combine to cause compliance anxiety for business owners and managers if they don’t have a handle on their bookkeeping processes and accounts. This is often caused by not having the best team available for all the tasks required and I spent some time during the week speaking with Tracey our MYOB, Xero and Quickbooks Trainer from Rockingham in WA about the different levels of bookkeepers and whether they could complete tasks relating to a BAS Service. Here’s some of the information that I thought you’d find useful.

Getting receipts as evidence

The biggest issue that many bookkeepers experience is getting information from business owners, particularly small businesses that are stretched between:

  • the work they need to do every day
  • Keeping and filing the financial records like receipts
  • Getting the financial records to a bookkeeper or accountant

I’ve written in the past about the ways that small businesses file their receipts as well as cloud technology like Shoeboxed (who now seem to prefer selling their services to accountants and bookkeepers and have removed the educational video that demonstrated how the software works!), but Quickbooks Online has a downloadable app that enables business owners to capture a photo of each receipt for each transaction and if business owners utilise this function they can save a lot of money in data entry and evidence of expenses that could be expected as part of a BAS audit by a BAS agent.

BAS Audits, red flags and tricky GST codes

I’ve mentioned in a previous blog that you can hire a cheap bookkeeper to take care of your data entry and only use the services of a more expensive bookkeeper (ie. BAS agent) for purposes of confirmation of expenses and the GST components of these expenses. In this case a simple BAS audit involves witnessing these source documents to confirm that there is no error in calculating the money owed to the ATO. If you’ve had any of the following transactions you’ll probably need to pay close attention to the information in your BAS lodgement and mention them to your bookkeeper:

  • Purchasing a motor vehicle
  • Motor vehicle expenses
  • Real property purchase
  • Any purchase coded as a GST-Free transaction
  • Low value purchases (under $82.50) that are coded as GST free
  • Purchase of second hand trading stock
  • Hire Purchase contracts
  • Local fees and handling charges for imp

Learn more about BAS Audits by BAS Agents and the benchmarking and self assessment that ATO use and recommend

TIP!: Bank feeds can cause more work!

I’ve written a lot about bank feeds in the past and included a blog post about how bank feeds work in MYOB and Xero. Bank feeds can be a real time saver because they automatically bring your bank transaction records into your accounting software, but Tracey mentioned that in MYOB you should bring them in BEFORE you do any reconciliation tasks otherwise you may need to undo any reconciliation work you’ve already done so watch out for that!

Need One-to-One training or a QuickFix on MYOB, Xero or Quickbooks?

We did a lot of one-to-one training when we operated our physical training centres in Sydney and the training was often completed at our training centre (because we had it!). Now I’m thrilled to advise that we’re helping local bookkeepers in your area deliver MYOB and Xero training according to our profession course structures! To learn more visit the National Bookkeeping training page. You’ll also discover that our bookkeepers area also available to fix problems or lack of knowledge with the QuickFix service so check that out.

Coming up..

Here is what we are currently working on and what will soon be published or made available at our LMS.

  • Guide to Credit Management (aspects of a business and your accounting software where you can tighten your credit management processes). We’re creating this guide in conjunction with the local bookkeeper at National Bookkeeping
  • Xero Course training material update (workbooks and videos are being updated and added as we speak so stay tuned for more announcements soon
  • Wholesale training course and partner offer – we’ve beefed up our Enrolment Voucher system to help more business buy cheap courses

Xero now looks like Quickbooks Online and MYOB needs an upgrade

Xero, Quickbooks and the plus button

xero-dashboard-is-starting-to-look-like-the-quickbooks-online-dashboard-xero
The Plus button in Xero

We’re currently completing new, updated content for our Xero courses and one thing stood out more than anything else – the PLUS button in the top right hand corner! If you are familiar with Intuit Quickbooks you’d immediately recognise that their PLUS in the top centre of the screen is how you access most of the software’s features and I’ve always liked how easy it makes navigating the software. If you compare the two of them you may think that the Xero software still has some way to come.

The other thought I had about this change is “how much will Xero change its user interface”? People get used to how to navigate around a software program (User Experience) and don’t want things to change too much and that has been a great feature about MYOB – their navigation has remained fairly consistent for two decades.

Will cloud services be upgraded like their computer software peers of the naughties?

Microsoft might be the inspiration for change for Xero because although most of the formulas and functions in Microsoft Excel remain the same, the way you navigate around the software changes every 3-6 years. This is a boon for the larger software training companies that charge extra for courses in the different versions (we include all versions for the one price of course 😉 but it can be frustrating for staff who have to re-learn how to navigate the software and their spreadsheets when the office software is updated.

xero-dashboard-is-starting-to-look-like-the-quickbooks-online-dashboard-quickbooks
The PLUS menu in Quickbooks has more features

While we are on the topic of upgrades and how annoying they are I received an email from my accountant to upgrade the MYOB version that we share so that she can access the files to work on them! I can say for sure that I once again felt that MYOB are behind the timeline as they fight to stay in control when looking at how they develop their software compared to the other accounting programs like Xero and Quickbooks where the software is updated and live.

Testimonials for Xero, MYOB and Microsoft Excel courses

On a different note, I asked our web guy to get some information about where our students are located around Australia and at the same time get some of their testimonials quotes onto our website. He’s not finished yet, but when I see the different suburbs from all over Australia I reflect on the same picture over 10 years ago when we were operating physical training centres in Sydney’s North Shore, Northern Beaches and Parramatta and our students were located within 20kms of each centre.

It’s a wonderful feeling to see students doing our courses from all over Australia but it’s even better when we see enrolments from UK, Canada, US and Hong Kong because it shows the true power of cloud based services.

When you want to become a Registered BAS Agent

Start a bookkeeping business not a franchiseLast week I wrote about starting a bookkeeping business while you are working your day job and I just want to add a note that may be very useful for those who want to become a registered BAS agent. National Bookkeeping offer a BAS lodgement service through our licensees and it is a great way for qualified bookkeepers (who have their Cert IV in Bookkeeping or Accounting) to work with an organisation and build up the hours they need to register as a BAS agent via the Tax Practitioners Board.

How Much Should You Pay for Bookkeeping Business Marketing

Bookkeeping business marketing includes price, packaging and the marketing message

michael-locke-talks-about-marketing-and-it-applies-to-bookkeeping-businesses-tooI had an opportunity to interview the man who managed the entire marketing program for Dyson when they came to Australia from the UK and helped Dyson become a phenomenal success and a leading brand in Australia. Michael Locke pointed out very clearly in that interview that product (and service) design, including packaging and pricing, is one of the pillars of good marketing – one of the Four P’s and Bookkeeping Business marketing is the same. Watch the video to learn more.

Many bookkeepers, particularly those starting a new bookkeeping business after coming from the corporate accounting world, think in terms of earning dollars per hour and days per week whether they work short term or several days a week so a big part of our bookkeeper induction into National Bookkeeping is to help manage their calendar for multiple clients and clients of different sizes.

Business plans, spreadsheets and other templates for bookkeepers

bookkeeping-basics-free-education-guideIt’s not hard to find a template for a business plan and if you are good at spreadsheets or have used Microsoft Excel in the past you’ve probably already got some good “templates” to work with. Things like business cards, flyers and prospect questionnaires are included in the National Bookkeeping licence but again I’ve met many bookkeepers who spend money on graphic design, websites and flyers before they even “advertise” their message to potential clients and I often ask how important that really is considering most clients make a decision based on the person they communicate with for bookkeeping work.

We include our Microsoft Excel Course – all 9 in the licence. We also include the MYOB and Xero courses and if you let us know you’d like to be promoted as a local face to face trainer for MYOB we’ll work to connect you to businesses who want to learn how to use these programs for their business.

While I’m at it I should mention that our Beefed Up Bookkeeping Basics – Level 2 workbook is included in the licence as well as a number of new workbooks, guides and other content that we are currently working on!

Less work for you and a team to help you succeed

deb-crompton-bookkeeper-from-mandurah-wa-local-myob-and-xero-portrait-smlI’m writing this post because I’ve had several conversations with Deb, our Mandurah Bookkeeper licensee, and we’ve managed to focus most of our time on constructive marketing content for blogs, flyers and other material that we’re working on together to get her discovered in her local area. There’s work that Deb needs to do but its focused on customer service and helping local businesses rather than on marketing.

The other aspect of starting a bookkeeping business as a National Bookkeeping licensee is that the

  1. Cost is very low
  2. Mark and I are able to provide mentoring support to our licensee to help them during the various stages of their bookkeeping business
  3. Our content marketing team can focus on building a great story around you, and
  4. We can leverage the national marketing reach of our existing websites

Something small business clients like is that National Bookkeeping licensee are vetted during the Pre Qualification process so they feel confident that they are working with high calibre bookkeepers (and even qualified accountants with corporate experience).

Looking for experienced bookkeepers in Brisbane/Gold Coast and Melbourne

We’ve received interest from small businesses in Melbourne and are also looking at expanding our marketing in Brisbane Gold Coast so if you are looking for more clients and want to be part of something bigger Pre Qualify now.