We know how much work is involved in running a small business – we are one too!
It never ceases to amaze me how many builders & tradies complete their own bookkeeping. It’s the forgotten role because most people
undervalue the service.
More often, the builder or tradie’s partner or mother takes on the responsibility and usually reluctantly, to show support to their loved
one. But do they have the skills and knowledge and is this the most valuable use of their time?
On average, 80% of small businesses fail due to poor financial management.
Unfortunately, the top mistake made by many small businesses is believing they can do everything on their own, especially the bookkeeping!
When should you hire a bookkeeper?
The sooner the better! – Ideally you should hire one soon after starting your business but it’s never too late!
There are lots of reasons why you should outsource your bookkeeping, but here are the top 4 reasons why I think you should outsource yours …
How much is your time worth? How could you be making better use of your time instead of trying to learn and do the bookkeeping?
Consider this
“if I spend my time doing ‘this’ v ‘that’; which one is going to give me more direct return from an income generating point of view?”
Why spend 6 hours when it would take a professional 2 hours. That 6 hours of time (not to mention the headspace & exhaustion) can be better utilised doing what you’re good at, being on the tools and developing and growing your business.
Don’t do things stopping you from income generation sucking up valuable, precious time which could be better spent elsewhere. If numbers aren’t your passion and you would rather focus on building your business, then outsourcing your bookkeeping makes perfect sense.
Remember, it’s not just about having more time to work on the business, it’s having time to spend with your family. Often, builders & tradies are spending their evenings and weekends doing their accounts. They miss out on family time and miss out on their kids growing up.
You just can’t put a value on that!
Remember, time is the most valuable asset you have.
We all have the same 1,440 minutes in a day. What determines your success is how you choose to spend that time. Don’t spend it on bookkeeping – the team at Books 4 Builders is here to lighten your load and do the books for you!
One of the biggest challenges when you work for yourself is keeping up with everything!
It’s very easy to get overwhelmed and feel out of control!
There are so many things as a builder or tradie you are trying to juggle:
There’s just so much to deal with!
Dealing with your accounts is just another thing to get done.
Stop Drowning in the Paperwork!!
Keeping up with your paperwork is the key to staying in control. Nothing will make you feel like you’re losing control more than drowning in paperwork.
Not being able to answer the important business questions:
You just don’t know where you’re at, you’re constantly chasing your tail, you’ve lost control!
Costly mistakes are often made because things are missed or overlooked.
I’ve seen many clients who have:
All of this keeps them awake at night as they suddenly remember something else they haven’t done!
It doesn’t have to be this way. At Books 4 Builders we’ll look after all of this for you!
And best of all you can feel more in control of your business and sleep better at night!
Are you well-versed in the ATO’s business compliance requirements?
Unreconciled and inaccurate accounts can lead to expensive consequences from miscalculations in your figures and inadvertently making errors in your BAS or payroll obligations.
Builders & tradies struggle to keep up with the mountain of ever-changing compliance and have no idea if they’re doing things the right way, often resulting in incorrect or late lodgements.
It’s important to realise whilst you can create a BAS report in most accounting software packages, it’s based on what you put into the system, so it’s not guaranteed to be correct. Remember the age old saying of “Garbage in, Garbage Out”?
A qualified BAS Agent knows what GST codes to apply to transactions and how to review the reports to ensure data accuracy before it gets lodged with the ATO.
Here at Books 4 Builders, we keep up with the ever-changing ATO compliance requirements, that’s our core business and this enables us to provide our customers with an effective and efficient service.
When was the last time you fixed your own car?
You could do it. I’m sure you could find instructions online on how to do it.
It might take you a while and you might make a few mistakes, but you’d get there in the end.
You might lose a weekend or two or need to take time away from your business. Yes, this means you wouldn’t be able to earn money but at least you’d save money by not paying a mechanic.
Most people don’t fix their own cars. They get an expert to do it!
They outsource it to someone who is a licenced and trained professional, has spent years working on cars every day and who has all the tools necessary.
By engaging the services of a mechanic, an expert, you know you will:
BOOKKEEPERS ARE EXPERTS!!
Bookkeepers are Registered BAS Agents.
They are:
Best of all, they have been doing bookkeeping every day for years and they love what they do!
So, leave it to an expert reducing any potential errors and saving you hours and hours of time. Spend your time working on your business, earning more money, or spending time with family.
You didn’t go into business to be a bookkeeper, so why spend your time bookkeeping?
Leave it to the experts!!
Don’t Worry, You Don’t Hand It All Over…
Every business is different, and there are some day-to-day tasks that you’re best doing yourself.
With your car you don’t need an expert to:
For builders and tradies that’s estimating and quoting.
But wouldn’t it be great to use a bookkeeper to support your business weekly, monthly or quarterly, and to have an expert on hand when you need them.
A bookkeeper can use their expertise to clean up your accounts and set up your processes to help you operate efficiently and effectively.
HELP YOU GET THE RIGHT INFORMATION TO RUN YOUR BUSINESS
Numbers are the language of business. It’s vital you have access to the right information and accurate numbers to run your business effectively.
These are things like:
You can have all of this with a good bookkeeper!
It doesn’t stop there!
A good bookkeeper can also let you know how your business is performing.
They can tell you what sales you’ve achieved, how much profit you’ve made or how much cash you have in the bank.
They can guide you and support you to give you the financial information you need so you can make better informed business decisions and improve your results.
The best way to guarantee effective and accurate bookkeeping is to engage the services of an industry professional. Additionally, you can enjoy the peace of mind and added time to pursue business opportunities or important time with your family.
At Books 4 Builders we help builders and tradies with all of their bookkeeping needs. So why not take some of the pressure away and have a professional help with your bookkeeping requirements.
If you’d like to find out more about our services and to see if they are for you, book a 15-min discovery call today or email us at info@books4builders.com.au
We’re looking forward to hearing from you!