We come across many owners and operators of small businesses from Frankston to Narre Warren that believe they’ve saved themselves time and money by getting a friend or relative to “do the bookkeeping”.

Would you send out an inexperienced salesperson to do an important high-paying deal with your BEST customer? Chances are, you’d want to send someone who’s experienced and can best represent your business, for fear of losing such an important contract.

Yet many small business owners in South East Melbourne take the attitude that the bookkeeping is just something that has to be done to keep the ATO happy at the end of the quarter or end of year.

Bookkeeping is an intrinsic part of your business.
Without a good bookkeeping system in place you have no idea how your Frankston business is performing.

“My acountant tells me all that!” we hear you say. That may well be the case – but often you get to see your accountant with figures not from the current financial year, but the previous financial year.

Your accountant will only be going on the information that’s supplied – unless you want to pay your accountant to do the bookkeeping that your wife, husband, boyfriend, girlfriend, mother or mother-in-law has already done!

Are You Paying Your Accountant To Do Bookkeeping?
Either way, if you want a set of books that is accurate and upto date, don’t you think that you should have the best person for the job? After all you’re probably working your backside off, losing sleep, having no holidays, and putting everything you can to run a successful business – and then you go and blow it because you think you are saving a few dollars on bookkeeping fees.

That’s like buying a big flash car and then running it on cheap unleaded petrol – it may get the job done short term, but it could cost you big time in the end.

We had a leaking waste pipe under the sink recently. Simple five minute job, go down to the loacl hardware store pick up a new part, then try and put it all back together. Five hours later, still hadn’t got the job done. In the end we decided to call a plumber, one of our clients. He called in at the end of the day on his way home.

“Oh, this is a simple job”, he says. Goes back to his truck, gets a couple of bits and pieces, and in two minutes the job was done. How much did that job cost us? Five hours of our time, plus the trip to the hardware store, and the stress and grief. Yet the whole job, done properly by the plumber, cost a few dollars.

Contact us today for a free estimate and review of your bookkeeping

There’s a heap of other reasons why yoy can be saving time and money in your Frankston business by outsourcing the bookkeeping to our Frankston – Narre Warren bookkeeping service.

We’ve got bookkeepers in the area that can service you with MYOB, Saasu, Xero and Quickbooks.

You go to your favorite search engine and type in “book keeper”, or maybe it’s all one word and so you type “bookkeeper” and then add the suburb, or even “bookkeeping Frankston” or “bookeeping Narre Warren”

Then you might find a whole list of Frankston bookkeeping services. Some of them may offer BAS Services. If you are already using an accounting software package like MYOB or Quickbooks then you may include that in your search. There’s also SAASU and XERO consultants in south east Melbourne, so you may also choose one of them.

The easiest thing is to contact us and we’ll help you in finding a Frankston – Narre Warren bookkeeper

We all know how wonderful the big Telcos are and how much they care (or even understand) customer service,

You didn’t need to be a hacker to stroll into a backend database of all BigPond bundle customers – seems that you could have easy access to client names, addresses, contact details and credit information.

As bookkeepers we are often asked about how we handle our Melbourne bookkeeping client’s information.

One thing’s for sure, we don’t broadcast it to the whole world like Bigpond.

We’ve always been suspicious of what information these large corporations have, and how they handle such sensitive information.

Some people are so willing to give all their personal information without questioning why the corporation needs it.

Its great to have forums like whirlppol to send companies like Bigpond into a big spin.

We searched through the root directory for files that had recently been changed in an attempt to find a way to delete this phantom administrator.

WP Solution to Hacked – Hidden Admin

Here’s how we fixed it:
1) Back up the wp database
2) Backup the whole website including image files, plugins, and the theme files
3) backup the wp-config.php file
4) delete all the WP folders and files
5) create new mysql DB file with new username and password
6) change cpanel password
7) install new version of WP
8.) config new wordpress website
9) delete all tables in newly created database
10) change the name of the previous database to be the same as the new database
11) import the old database into the newly created database
12) search the new database for the wp-users table – still no sign of the hidden admin user
13) identified our admin user ID number (which in this case was ID=2) and changed it to ID=1
14) back in WP dashboard we see listed administrator(1) and subscriber(1+ existing number of subscribers)
15) back in Database we identified the “new” subscriber in the wp-users table and deleted our phantom “admin” user
16) – did a search in cpanel/file manager and found that they had added .htaccess files everywhere – in wp-includes folders and plugins folders

Hope this helps someone and saves them the four hours we spent in fixing up the hacked website!!

Advantages of using spreadsheets for your bookkeeping:

• The beauty about using spreadsheets is that you can create little formulas in the cells to give you the answers that you are needing.
• Yes, you can save money on bookkeeping fees by not having to buy any accounting software program, or you could use some free accounting software package
• Yes, you can save money on bookkeeping fees by not having to get any training in using any fancy accounting software program
• Yes, you can save money on bookkeeping fees by doing the bookkeeping yourself on spreadsheets, as using a simple spreadsheet can be a quick easy and economic solution to doing your bookkeeping for a small business owner.

Our mobile Melbourne Bookkeepers often help small business owners in and around Melbourne’ northern suburbs by tidying up the bookkeeping that’s been done on a spreadsheet.

Disadvantages of using spreadsheets for your bookkeeping:
There can be a few problems using a spreadsheet when it comes to bookkeeping.

• Unless you’ve set your spreadsheets up correctly, there may not be any checks in place to identify where errors may be occurring.

  This can be an advantage when using accounting software packages such as Quickbooks or MYOB where the reporting process has already been set up. At the punch of a button you can run a number of reports that will quickly highlight where any errors may be in your data entry.

• Many small business owners do not know or understand the full potential of using spreadsheets to do their bookkeeping.
• You may think that little can go wrong when using spreadsheets to do your bookkeeping.

And that’s exactly what happened to the Columbia Housing Authority in the USA a few years ago.

When a Government audit was undertaken, the Columbia Housing Authority eneded up having to pay $216,352 to cover expenses incurred when the authority gave some tenants too much room and some landlords too much rent. They admitted to $118,387, the amount that resulted from a spreadsheet data-entry error that overpaid landlords.

The Nevada city budget spreadsheet apparently worked correctly until sometime in late December 2005 when it developed a problem, causing the 2006 budget to show a $5 million deficit in the water and sewer fund.

There’s so many examples of what can go wrong with using spreadsheets to do the bookkeeping for your Melbourne business, and in so many instances the errors are not discovered until it’s too late and the damage has been done

Contact us today for a bookkeeping health check-up

Duvelle Jeffrey, a mother of two, managed to siphon off the money from a group of direct sales companies while working as a contract bookkeeper between 2005 and 2009.

One wonders how the companies didn’t notice the missing money – apparently she’d been able to hide the stealing by finger pointing financial discrepancies at other people, playing staff off against each other.

When one of the managers expressed concerns about the dwindling funds in company bank accounts he was told by the bookkeeper that he needed to improve his business practices.

How do you know if your bookkeeper is stealing?

• Ensure you have checks and balances in place
• Does your bookkeeper have the ability to sign checks, make bank withdrawals, use bill pay etc?
• Do you let the bookkeeper enter bills and then cut and sign cheques?

From time-to-time ask to see copies of receipts, invoices, etc so your bookkeeper knows you’re involved and are keeping your eyes on the books.

Your involvement in the day to day bookkeeping activities reduces the chances of your bookkeeper being tempted to steal from you.

Business activity Statements can be confusing to complete, and according to the Australian Taxation Office over 80% are incorrectly completed.

That could mean that you’re paying more GST than you need to be – How would you know?

That’s why so many smart business operators outsource their bookkeeping to professional bookkeepers

Understanding that most resolutions are broken before the first week of the New Year is over, we listed three bookkeeping resolutions small businesses can make and keep in 2011.

Tidy Up Your Desk!
A clear desk and a clear mind will help clear thoughts and eliminate that feeling of being overwhelmed by the mountain of paperwork ahead of you. There’s a great feeling to getting and staying organised.

Start by taking small steps, one at a time and make a promise to get on top and STAY on top of your record keeping, or contact our Melbourne professional mobile bookkeeping service to do it for you

Keeping Records Upto Date
You’ve legal obligations in Australia to keep your business records for five years. This is the time after they’ve been prepared, obtained or the transactions completed, whichever occurs latest

Penalties are in place for not maintaining the required records and for not keeping them for five years. Good record keeping will help you avoid these penalties.

Manage Your Cash Flow
Cash flow management is so important in any business – it’s the life blood! A blockage in your artery can cause a heart attack, so too will your business can die if the cashflow dries up.

Start TODAY with a simple four-step Cash Flow Budget:
Step 1: Goals for this year
Using figures from previous years, or guestimating figures (for new businesses) put together a forecast of expected sales for the next six / twelve months

Step 2: Money Coming In
Estimate cash coming into the business from customers, loan monies, assets sold off or money you put into the business.

Step 3: Money Going Out
Guestimate money that you’ll need to pay to suppliers, wages, loan repayments, money for assets you expect to buy, money you take for your own use (drawings), and any loans you may provide to others.

Put aside between 20 – 30% for tax payments GST etc and amounts you’ve withheld from employees’ wages, and fringe benefits tax.

Step 4: Profit / Loss at end
Calculate the difference of Cash on hand at start of period then ADD your estimated cash coming IN (income) then SUBTRACT the estimated cash going out (expenses) = Estimated ending Cash Balance

Stop drowning in bookwork, struggling to perform tasks that you really do not enjoy doing – and let us get your bookkeeping upto date

Our team of professional bookkeepers around Melbourne inner suburbs Fitzroy, Richmond and Toorak, love doing the bookwork, and can get your paperwork upto date in a shorter time. saving you money.

Whether you use MYOB or Quickbooks or any other accounting software package and you need help in any way Contact Us NOW!

Regardless of what the media or the Federal Government tells us, times are getting tougher for small business owners all around Australia. It’s understandable that an obvious saving to your outgoings is by reducing bookkeeping and accounting fees.

Kind hearted relatives or friends may volunteer to “help you do your bookkeeping” and offer “mates rates” for bookkeeping, or even do the books for free

Does this mean you can relax in the knowledge that you, a relative, or a friend are trying to help you with your bookkeeping, because you’re trying to save money of accounting fees.

Sometimes a “cheaper solution” can end up costing a heap more, so before you rush into that decision, perhaps you should considered the true cost of “cheap bookkeeping rates” to your business
TIME COSTS
Having someone who is not a professional bookkeeper “helping out” can mean that they spend far more time than would be required by a professional bookkeeper – If you’re doing the books yourself, then that’s time taken away from your business, or family – time that you could utilise far more efficiently performing tasks that you enjoy / are good at

COST OF ERRORS
If you or your friend are inexperienced in bookkeeping there’s a greater chance of errors being made due to lack of experience / incorrect date entry.

A simple error can cost hunderds (and in some cases thousands) of dollars – it can take hours to find what “simple mistake” has been made, and the costs of fixing that mistake in time and money can far out-weigh the apparent “savings” made on using an inexperienced / unqualified bookkeeper.

STRESS FACTOR
There’s the emotional / health cost brought on by stress of getting behind in your reporting.

• Having creditors on the phone chasing you unpaid accounts
• Paying accounts twice in error
• Over-paying suppliers
• Not keeping track of GST / PAYG/ Superannuation obligations

Contact Us and let us show you how little it will cost to get your bookkeeping under control with our professional bookkeepers in and around Pascoe Vale South, Coburg North, Keilor East, North Essendon, Inner Northern Suburbs of Melbourne, Australia