It’s the start of the new financial year and now is a great time to be thinking about setting up your business so that it can run smoothly and efficiently.
The financial side of running a business is a huge pain point for many businesses, yet it doesn’t have to be. By following these five simple steps, you can minimise your paperwork and maximise your input into your business to ensure it stays productive and profitable.
1. Get sorted
It’s time to ditch the shoebox of paperwork and join the big league. If you’re organised enough to gather together your receipts and other bits and pieces, you can take the next step and look at ways to improve your business’ financial efficiency. The good news is there are people and great computer software available that can do exactly that.
2. Get with the program
Not to be rude but you really do need to get with the program. A cloud-based one preferably and one of the best is Xero. Intuitive and straightforward to use, it works on any computer with an internet connection, and it will change the way you look at your business financially. Imagine being able to get a financial picture of your business anytime you want? And it’s not that expensive either — think a carton of imported beer or a couple of bottles of good wine per month. What’s more, it is loved by accountants and bookkeepers alike.
3. Get a great bookkeeper
And speaking of bookkeepers, Being Accountable Bookkeeping Service have been doing this for more than 20 years. We can help you set up your business, show you how to get organised, get you on to Xero, and teach you how to use it. Even if you find it all a bit too much, we can look after all your bookkeeping for you. We’re also a registered BAS Agent and can lodge your Business Activity Statement and other compliance work with the ATO on your behalf.
4. Get some serious help
One of the great things about cloud-based accounting software is the extensive range of seriously good add-ons available to suit all kinds of business. From capturing and automatic input of receipts to electronic cash registers for retailers, they can all be incorporated in your Xero set up to improve and maximise your business’ efficiency. Ask the team at Being Accountable to show what’s available and how it can help your business.
5. Get going
By following these simple steps, you’re setting yourself up for a more productive and, dare we say it, stress-free financial year. The even better news is that you now have the opportunity to spend more time with family and friends on the weekend instead of trying to figure out how your business is performing. More importantly, though, it will allow you to free yourself of the shackles of paperwork and return you to what you do best — run your business.
To find out how you can get the most out of your new financial year, contact Being Accountable and let us show you how to get your life and business back on track.