The Bookkeeping Process
Checklists: These should be used for consistent professional bookkeeping.
Sales Processes: This includes sales orders, invoicing, receiving payment and following up on late payments.
Purchase Processes: This includes purchase orders, bills, supplier payments and inventory management.
Payroll Processes: This includes the setting up employees, processing of pay runs and reporting on superannuation, PAYG tax withholding and employee entitlements.
Banking Processes: This includes the reconciling of all the bank accounts, the point-of-sale systems and loans applicable to the business.
Verification of Accounting Figures: it is easy to assume that “the software is always right” but problems can occur for a variety of reasons in the accounts and prior to preparing a BAS or other lodgements.
Reporting to Owner: The financial reports need to be inspected on a regular basis, providing reliable reports, commonly on a monthly and quarterly basis.
You and Your Bookkeeper Working Towards Success
A professional bookkeeper concentrating on the required regular tasks to manage your business in a financial and accounting capacity, can also provide trusted guidance and valuable insights.
This will allow you to focus on providing quality goods and services to your customers and lead you towards continued success.