Outsourced Bookkeeping Services

Stop trying to do it all! You have worked hard, dreamed big, and invested time, money and sweat into your business. Now, it is time to think about outsourcing your accounting and bookkeeping work to professionals. Whether you are a sole proprietor or have employees and subcontractors, outsourcing your bookkeeping can be a great investment for your business.

In the not-so-distant past, small businesses would usually try and do the work themselves, often filling bags with receipts and spending hours upon hours every month chasing invoices, paying bills, balancing checkbooks, and wanting to pull out their hair. And losing money in the process. Some small businesses were able to hire a full-time bookkeeper to maintain the books, or if they were large enough, they would implement an in-house accounting department of their own. What a headache!?

“According to the entrepreneur mentorship organization?SCORE, 40% of small businesses say that accounting and bookkeeping are the things they dread most about running their business.” –?Forbes

It is all about technology , forget about the image of the accountants and bookkeepers of the past, sitting in a room, bathed in fluorescent light, pushing papers around. Today’s accountants and bookkeepers are tech savvy and trained to help you save money, build your business, and keep your paperwork in line with all necessary protocols.?

Below are six significant reasons why outsourced bookkeeping might be just what you need!

1. Do What You Are Good At.

You can spend your time doing what you are good at doing. And that is running and growing your business. That is your strong suit. That is your passion. Unless you have had significant training in accounting, you probably do not have stellar accounting skills, and that can cost you a lot of money! Outsourcing your bookkeeping will free up so much of your time and give you significant peace of mind.

2. Outsourcing Bookkeeping Can Save You Money.

Hiring Accounts On Point can save you up to 40%! That is a lot of moolah. You will not have to pay for benefit packages, training or equipment, and your insurance will be lower. You will not have to pay superannuation , sick leave, or vacation pay for an outsourced Bookkeeper.?

3. Reduce Fraud.

You will also reduce fraud. It us an ugly reality, but unfortunately, employee fraud is a huge issue in today’s world. Statistics bear out that companies with fewer than 100 employees are the most vulnerable to fraud. Outsourcing your Bookkeeping can diminish this problem because out team are trained to recognize the red flags when they see them.

4. Improve Your Accounting Processes.

Outsourcing your Bookkeeping provides for a great way to improve your accounting processes. Improving your accounting process will allow you to get better data faster. Outsourced accountants rely on years of experience to bring you the best processes and instill good practices. As you grow these processes grow with you so you never lose sight of your bottom line. Not to mention you can get all of your year-end documents quicker and in better order so you don’t have to stress come tax time.

5. Flexibility.

Outsourced Bookkeeping gives you much more flexibility. If you suddenly grow and need more services, it is easy to add those services if you are outsourcing your accounting. A good outsourced accountant will know and recognize trends in your business and will help keep you up to date on what you need. Hiring people to bring your accounting up to speed can be extremely time consuming and expensive. Wouldn’t it be easier and more time effective to just to pick your phone, and call us , tell us what you need, and have it immediately taken care of??

6. Access to New Software and Technology.

We are Xero certified advisers and use and recommend Xero .

What is Xero, and what are its key features

Xero is cloud-based accounting software that provides bookkeeping, invoicing, payroll and more. It is an easy-to-use interface and can help you save time and money while staying compliant with your tax obligations.

Xero has all the features you would expect from an accounting system such as bank reconciliations, expense tracking and reporting but also includes some innovative tools like SmartAlerts, which automatically send reminders when specific actions or transactions need attention. The app also integrates with QuickBooks, so you will never have duplicate data entry again! And if you don’t want to spend hours fiddling with settings? No problem!

How Xero can help small businesses save time and money

Xero is easy to use

Xero has an easy-to-use interface, so you can get up and running without the need for expensive training, seminars or consultants. Even if you’re not familiar with accounting software, you’ll be able to get up and running with Xero quickly.

Xero has an intuitive design so that anyone can use it; all you have to do is log in and start using the system.

The system features a clean design with a simple navigation pane on the left-hand side of your screen, which makes it easy to jump from one section to another. This makes it easy for you to focus on your accounting and bookkeeping without having to worry about the nitty-gritty.

Xero is ready to use out-of-the-box

As mentioned, you can get up and running with Xero accounting software quickly – within minutes, as it’s already set up for you. Just sign in, and all of your data will be there waiting for you. There are no adjustments or changes required before it can be used (unless you want to make some).

Xero offers a variety of integrations

One of Xero’s best features is its ability to integrate with other accounting systems, apps and tools so you can automate tasks such as data entry or file sharing between multiple people.

One example of a great Xero integration for small businesses is ServiceM8. If you’re a service-based business like a plumber or electrition, you’re probably aware of?ServiceM8. Xero and ServiceM8 work together to let you keep track of your field service business from start to finish, including invoicing and paying the bill.

Xero is affordable

Xero accounting software has a wide range of pricing options, so you can find one that fits your budget. Small businesses especially will find the pricing options beneficial.

For example, their most popular plan, the Standard plan, is just $54 per month and includes all your bookkeeping necessities, including sending invoices and quotes, entering bills, reconciling bank transactions, payroll for two people and capturing bills and receipts with Hubdoc. It also offers bulk reconciling of transactions and a short-term cash flow and business snapshot that will help your small business stay on track.

Xero is flexible

Xero accounting software has no lock-in contracts and can be taken to other accountants as required. It also supports multiple users at different levels so everyone in your business can access their own information. Again, using the Standard plan as an example, you can cancel with just one month’s notice and upgrade the payroll options from 2 to as many as 50 people.

Xero also offers an array of optional add-ons, including the ability to submit and manage expenses on the go, track projects and jobs, see future cash flow, check the financial health of your small business and track metrics. All these add-ons can be pivotal in the success of a small business.

Xero is reliable

Xero accounting software is backed by global cloud infrastructure, so you can access your account anywhere, anytime. It is also backed by a strong team of developers who are constantly working to improve the platform.

There are also various levels of support to suit all businesses, from free email support to the option of having a Xero expert on hand if needed.

Xero is secure

Security is one of Xero’s top priorities, so you can rest easy knowing that your business data is protected using Amazon Web Services (AWS) servers – recognised as one of the best cloud infrastructures in the world. The accounting software is also offered with Fraud Protection which protects you against identity theft, fraudulent transactions and phishing scams.

Xero’s Security team regularly analyses security systems, event logs, notifications, and alerts from all systems to identify and handle risks.

Xero is also ISO/IEC 27001:2013 certified, the world’s most well-recognised information security management system (ISMS) standard and payment Card Industry Data Security Standard (PCI DSS) compliant. Lastly, a Service Organization Control (SOC 2) report about the Trust Services Criteria for Security, Availability, and Confidentiality from an independent auditor’s examination is available.

Xero saves time

Time is money when it comes to administration, so Xero accounting software has created many features to speed up the process.

You may save time by duplicating your previous invoices, making any required changes to the amount or description, and mailing them. But bank feeds are Xero’s biggest time-saving feature! On a daily basis, Xero communicates with thousands of banks to securely import bank statement lines into your Xero account.

The accounting software also has a built-in email platform that allows you to send and receive emails directly from the system. This makes routing invoices via email an efficient task, saving time from having to print out paper copies.

Xero is easy to implement

You can effectively get started with Xero in under one hour, as there’s no need for installation or set-up. And if you do want to give it a go,

Xero has a mobile app

Xero also provides a mobile app for iOS and Android devices, which means you can access the accounting software and all your financial information from anywhere, anytime. This is great if you’re on the run.

Xero accounting software is designed to help you manage your business finances and grow your business while making it easier for you to stay on top of things from anywhere in the world. It’s an easy-to-use cloud accounting platform built specifically for small businesses and accountants. They offer the best in the class accounting software with a fully customisable dashboard, time tracking tools and a smart bank feed that does all the hard work for you.

So if you’re looking for accounting software that’s easy to use, affordable, and reliable, then Xero is the right choice for your small business.

WE can provide you with peace of mind. This is one of the best investments you can make for your business, no matter what sized business you have. They can offer invaluable advice and guidance as well as help you protect your assets. We can make sure your bills and vendors are paid on time, as well as following with client invoices. We can easily turn around reports that you might need for your bank or business meetings, and they can help you have day-to-day picture of your business’s financial health. And we can help you breeze through tax season as well as make certain you do not overpay or miss anything.?

Accounts On Point can help you with all your Bookkeeping, Accounting & BAS needs in addition to financial management and financial analysis. We are Xero specialists with significant experience in helping small business . Giving business owners the optics they need to make better decisions.

In-depth reporting

Predictive modelling

Real-time KPI dashboards

Dashboards for each department or profit centre

Powerful forecasting

Alerts, recommendations and accountability

Call me on1300 162 911

or email me for a chat about how we can help you mantain financial control in your business and help you meet your STP responsibilities .

To schedule a 15 minute meeting to discuss click here:-https://www.timetrade.com/book/26QQJ

Check out our website for more https://www.accountsonpoint.com.au/