How to Avoid Dead Bookkeeper Syndrome?

Dead Bookkeeper Syndrome is a term I have instituted to depict the circumstance of an organization’s bookkeeper all of a sudden vanishing or kicking the bucket. The issue is, he knows nothing about QuickBooks. As their Bookkeepers Melbourne, I just went to their office quarterly to survey the books and close the quarter. I’m not by any means acquainted with the everyday methodology for their books, yet I know more than the spouse!

Here are a few things to consider evaluating how well your business, or your customer’s businesses, would charge if the bookkeeper was all of a sudden inaccessible, either because of ailment, demise, or different reasons:


Is there an ace passwords list, and does somebody adjacent to the bookkeeper know how to get to it? This rundown must incorporate User IDs, Passwords, and Security Question answers for the books, internet banking (checking, investment funds, Visas, credits), financial benefit, significant sellers, and outsider applications, for example,, and so on. The length of this rundown, once you take a seat to make it, might amaze you.… Read the rest

Full Charge Bookkeeper Job Description

 A full-time charge bookkeeper who works in a small business will complete jobs that are more complex than that of regular bookkeepers. They will carry more responsibility, keeping careful track of information and making sure that there are no errors. A full charge bookkeeper will be in charge of all of the accounting, preparation of financial statements, and other information. You will not see this unless you are dealing with or have a midsized company who don’t have an accountant or a controller.

Education & Experience

The minimum education requirement to be a full charge bookkeeper shaving a high school diploma. There will have to be educated after that as well. An associate or a bachelors degree in either business or another relevant field is necessary. Usually, you will need a certified bookkeeper designation which is provided to you by the American Institute of professional bookkeepers. Many businesses prefer that their full charge bookkeepers have a mix of education and experience. It is not an entry-level job, so you can’t just hop right into one.


A full-time charge bookkeeper … Read the rest

Did You Know You Can Claim These Business Costs on Your Tax Return?

As the end of the year approaches, more and more business owners begin to think about preparing their files and paperwork to lodge their business tax returns. And while you may think that you have the process sorted and are claiming all of the available items you can, there may be some which you are forgetting.

Below are three of the most common businesses expenses in your budget which you can consider claiming on your business tax return.


Space. Not rent. Space. While the majority of business owners know that they can claim the rent they pay for their store, many aren’t aware that the ability to claim for this type of expense isn’t just limited to storefronts.

  • If you needed to store surplus products in a temporary warehouse during the year, you can include this cost.
  • If you needed to hire space a trade show or a convention for a promotional booth, can you include this cost?

Whatever space, if you paid for it and it was required for the successful operation of your business then it … Read the rest

Different Types and Methods of Bookkeeping Systems

Bookkeeping is the recording of financial transactions and which is part of the process of accounting in business. There are several standard systems of bookkeeping which include,

  1. the single-entry bookkeeping system and the
  2. double-entry bookkeeping system,

While they may be referred as real bookkeeping to any process that involves the recording of financial transactions.

Therefore, bookkeeping is usually performed by a bookkeeper- who is a person who records the day-to-day financial transactions of a business. Bookkeeper is usually responsible for writing the daybooks which contain records of purchases, sales, receipts, and payments and he or she is responsible for ensuring that all transactions whether it is cash transaction or credit transaction are recorded in the correct daybook, supplier’s ledger, customer ledger, and general ledger. The bookkeeper also brings the books to the trial balance stage where an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.

There are different types of bookkeeping systems that range from maintaining records, auditing to preparing income tax returns such as the following;

  1. Financial accounting:

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Have you ever hired a good bookkeeper?

A book keeper is mainly responsible to handle and process a company’s business transactions. The company’s head or owner will keep track of all accounts and all transactions.

It is expected from book keepers to be accurate, efficient, and have complete knowledge of all debits and credits, the account charts, accounts payable procedures, sales and accounts receivable and payroll. It is the ultimate responsibility of book keepers to handle all these responsibilities with utmost care and perfection.

Though these are some common responsibilities of book keepers the type of work may wary in accordance with the requirement of the company and with the size of the business. It is also the responsibility of the book keepers to adjust entries and to generate income statements and balance sheets by using the accounting software.

What to remember before hiring a book keeper

In order to hire a good book keeper you must fully research and look for that candidate who fulfills all responsibilities and does nice work. You should not rush in to this process instead you should look carefully around you … Read the rest

Hiring a Bookkeeper: A Working Guide

Most business and non-profit organization use bookkeepers as the first line of their finance team.  Having the right person doing your bookkeeping is critical for smooth running of the finance department and for the success of the business. The Institute Of Certified Bookkeeper recently placed handy guide in hiring a bookkeeper, if it’s an employee or outsourcing.

The guide has been design for small business in mind, the tips are highly advised equally applicable to an NFP most cases.

Consideration for business outsourcing a bookkeeper

The bookkeeper on bulk of the day-to-day work, while an accountant and the tax agents typically involved in big-picture panning and end of year tax responsibility.

The bookkeeper generally touches every transaction a business does, and the accountant reports and accounts and not accuracy of bookkeeper transactions.

The bookkeeper creates and maintains the general ledger, the basis of the company’s management accounts.

How do you figure the difference between an independent contractor and an employee?

Contract of service:

This depicts the degree of control that can be exercised over the bookkeeper –the employer direct how, … Read the rest

Seven Bookkeeping ways to easy financial housecleaning

Need to clean up the mess made of your financials. Here is the help bookkeeper Melbourne; yet when the time comes to do the financial cleanup work, he thinks of heaps of reasons why it isn’t possible – or not at this moment. Shouldn’t something be said about you?

Could you identify with my companion? It is safe to say that you are as yet battling with the financial range of your business?

Bookkeeper Melbourne has taken in a couple of things, having guided thousands of business proprietors down the stream.

Seven Bookkeeping ways to easy financial housecleaning

Here are my main seven tips for diminishing resistance and acing the financials;

  • Get clear on what you need. Would you like to work with your head in the sand? Do you appreciate agonizing over how you are going to cover finance? Is it remunerating to speculate what amount of obligation you truly have? I thought not.
  • It’s your money. That implies it’s your obligation to know where it is and where it goes. As the proprietor, you are the financial administrator.
  • Hire bookkeeper. I have worked with
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Accounting and Bookkeeping: What’s Best for Your Small Business?

The terms bookkeeping and accounting have a tendency to be utilized reciprocally as a part of the business world. In actuality, their real definitions fluctuate fundamentally concerning employment work and work experience. As a little entrepreneur, it’s essential to comprehend the distinction between the two parts with a specific end goal to choose which will be most valuable to your business. Keep in mind that all bookkeepers can perform accounting capacities, yet not all clerks will have the learning to deal with the whole bookkeeping procedure.

The Basics of Bookkeeping

Bookkeepers are basically the recorders of budgetary information. As per the Department of Labor, bookkeepers are thought to be on the same level as bookkeeping assistants. Albeit proficient confirmation is accessible through the American Institute of Professional Bookkeepers (AIPB), accounting positions more often than not require almost no school instruction. Beside recording day by day exchanges, bookkeepers might likewise accommodate ledgers, pay charges, and produce client receipts. With preparing, bookkeepers may have the capacity to finish bookkeeping capacities, for example, adjusting diary sections, aggregating finance runs, and get … Read the rest

How You Can Offer Bookkeeping Companies

Today, outsourcing has turned out to be entirely basic. Companies have begun understanding the way that outsourcing non-center business exercises will give them plentiful time to concentrate on key business ranges for income which furthermore enhance their efficiency. Outsourcing monetary exercises, for example, that of accounting, making QuickBooks and finance administrations help associations to focus on other center business regions and exercises that are specifically identified with reestablish era by Bookkeepers.

Outsourcing the financial matters

With outsourcing your budget matters, for example, accounting, CFO administrations, QuickBooks administrations report making, finance administrations in Melbourne, you can get an outsider review of the monetary soundness of your organization by Bookkeepers. With streamlining of money related business process, associations can expand benefits and keep a control over working expenses. With constant backing from an organization that gives outsourcing CFO administrations and QuickBooks administrations with finance administrations, associations can likewise watch out for the compliances and the expense regulations and can never miss documenting assessments and meeting other duty commitments. In this way, they can decrease the measure of expense risk.


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Selecting a Bookkeeping Company to Meet Your Needs

Here is the way to figure out if you require a bookkeeping firm or an inside bookkeeper along with the finding of how to figure out the capabilities to look for in your bookkeeper, and how to pick the right one for your business.

Picking the Right bookkeeping company: Hiring a Firm Versus an inside Accountant

Numerous business visionaries who dispatch their own particular organizations begin by wearing the bookkeeper’s cap and doing your own expenses, notwithstanding doing pretty much everything else in the business, as well. It’s gotten to be less demanding for a layman to stay informed regarding a business’ money with the coming of basic accounting programming, for example, QuickBooks, Quicken, and Microsoft Office Small Business Accounting. In any case, there comes a period in a developing venture when it bodes well to hand over obligations regarding charges, bookkeeping, and whatever is left of the budgetary capacities to pros.

Picking the Right Accountant

Numerous little organizations don’t have the volume of money related exchanges that require employing a full-time, or even low maintenance clerk or bookkeeper … Read the rest