Would you buy a $20 roof rack to secure a $4,000 canoe to your car?
We hope that your answer is a “NO’. Bookkeeping is a core part of your business and is therefore worth investing in.
Your bookkeeping system determines the tax you pay, the GST you pay, lets you know how your business is running and lets you plan future costs.
It will save future accounting fees, prevent fines from the ATO and make it easier to get future funding.
You need to invest in a good system that can easily accommodate growth without needing a full system change. You also need good training in bookkeeping or hire a good bookkeeper. Don’t use the yellow pages for any of this stuff because by the time that you realise you have employed a monkey to play with your major operating system, the time and cost to correct mistakes may be huge.
If the ATO locates an error in the GST collection or PAYG/Superannuation payments, the fines could put you out of business.
We have many low cost alternatives to assist you in selecting the system best for your business and can train you or your staff properly or you can use one of our recommended bookkeepers.
It will be the best business decision that you will make.