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Mobile Bookkeepers Ormeau, Yatala, Coomera, Eagleby and Beenleigh

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There are business owners around Yatala and Ormeau who are young enough to have missed the tough times of the last recession, and you may not be prepared for what’s around the corner. That’s when business owners start relying heavily on their bookkeeper.

When business gets tough, where’s your bookkeeper?

If you don’t have a book keeper, then now’s the time to get a contract bookkeeping service to come in and get your accounts upto date. We’re not saying that just because we’re bookkeepers.

We’ve had a couple of Oxenford clients expressing concern about slow paying clients, or even clients that are unable to pay their bills. So when business gets tough, where’s your bookkeeper?

If you don’t have a bookkeeper that’s keeping a close track of your income / expenditure, you could soon find yourself in trouble financially. Clients that may well have always paid their invoices within 30 days start stretching them out to 60 days. Sixty day accounts become 90 days. Three months roll into four months

Worst still, suddenly the door closes on your client’s business, and you are left out of pocket. AS chance would have it, your small business is the one that probable needs the money the most, and tends to be the one at the back of the queue if and when there’s any money being handed out to creditors.

You may have a copy of an accounting software package such as Quickbooks or MYOB sitting on a shelf in your office collecting dust. You may even have the software installed on your computer, and have been struggling working out how to operate the thing.

Don’t delay any longer

We’ve noticed an increase in clients contacting us to get their 2006 – 2007 tax returns upto date. Rather than burying their heads in the sand, they’ve picked up the phone and called us or emailed us to get their bookwork sorted out.

You can email us your quickbooks or MYOB date files. You can put them in an express bag, or we can organise to have our of our mobile bookkeeping team come round and get all your paperwork sorted out on your premises

So when business gets tough, you’re not the ones who’ll miss out with unpaid invoices. Before business gets tough, contact us to become your bookkeepers

Ormeau Bookkeeping: 9 Ways To Avoid Paying Invoices TwiceHow bad do you feel when you’ve realised that you’ve paid a supplier’s invoice twice?

Often it’s a simple mistake made because you are in a hurry, or panic about a particular order that you have to fulfil. Contact us for more information

We can all make mistakes in the course of our business day, whether you’re based in Ormeau, Yatala, Beenleigh or Coomera, good bookkeeping is an important part of your business.

9 tips to avoid paying the same invoice twice

Here’s nine tips to ensure that you and / or your bookkeeper never pay the same invoice twice:

1 Always make a payment from an invoice, and not a statement
The statement may not take into account a recent payment that you have made

When you look at the supplier statement and see the total outstanding amount you may get feelings of guilt and pay the whole amount showing on that statement

2. Have your book –keeper keep your accounting up to date.
By entering all payments and invoices regularly into the system before you pay your invoices, you can match the statements and outstanding invoices with your bookkeeping system quickly

3.Set aside a specific day for paying your bills.
You can ask your bookkeeper for a report of outstanding bills, or simply have a folder marked “Bills to pay”
So if you receive a statement, place it in the folder, and on the assigned bill payment day, you can match any outstanding bills with the statement

4. Use Purchase Orders and keep delivery dockets
Often small business owners may get their purchase orders and delivery dockets mixed up. In some cases your supplier may use the invoice as a delivery docket, and then send you another copy of the same invoice when requesting payment.

So, if you are not diligent, you can easily find yourself paying the same invoice twice thinking that they were two separate invoices.

5. Do not make a payment based on a phone call.
In a slower economy, when everybody is chasing payments from everybody else, it’s easy to make a payment based on a phone call from a supplier. Just because they are chasing a payment, it does not mean that a particular invoice is still outstanding

6. No invoice – no payment
Just as we suggest to our business owners that they shouldn’t pay any staff claims for cash reimbursements without a proof of purchase, neither should you make a supplier payment without an invoice in your hand

7. A Delivery Docket is not the same as an invoice
Your supplier may issue a numbered delivery docket with prices included, but it’s not a tax invoice. Ensure that your bookkeeper does not enter the delivery docket as an invoice, as well as entering the invoice relating to the same order. If they can’t find the invoice, then ask the supplier to issue a copy of the invoice

8. Reconcile your bank accounts each month
At the same time you should get a report of suppliers invoices and reconcile them against your suppliers statements
If the two do not balance, then your bookkeeper may have entered an invoice twice. Once you’ve paid your supplier twice, it’s not always so simple to get a refund

9. Enter suppliers invoices into your accounting system
By ensuring your have suppliers invoices entered, you can quickly check for duplicate in voice numbers, which may warn you that you’ve entered an invoice twice

Contact us for more information

Small Business – Getting a Bank Loan

Would you get a Bank Loan if you had no way of repaying the debt?

As a small business owner in Ormeau, Yatala, Beenleigh or Coomera, what response would you get from the Bank when you asked them for a loan with absolutely no plan to pay the debt back?

As freelance bookkeepers servicing the northern end of the Gold Coast, we are often asked to get the bookwork upto date for small business owners. Preparing the Profit and Loss Reports, ensuring the balance sheet is correct, so that the small business owner can seek extra capital to develop their business. Contact us for more information

If you have no plan, if you cannot prepare a budget to show how the debt will be repaid, what are the chances of you getting finance from the bank? Read more… »

Australia Day 2009

Australia DayCongratulations to all those Australians honoured for Australia Day – and we also salute all those that make enormous contributions to the country in their own small way, but because they are not well known sports people, musicians or film stars nobody seems to want to honour them. [would the Australia Day honours be political?]

Without Australia’s anonymous heroes this nation would not be what it is today!

This year Australia Day falls on a Monday, so the nation gets a long weekend!

There’s a certain sector of the community with a big chip on their shoulders, who do not seem to want to move on with their lives, and want to call an event that happened over 200 years ago “Invasion Day”

Well, that’s fine, if it makes you feel better. However, why not join your fellow countrymen, who’ve realised that you can’t change the past, and instead take a more positive approach? Get over it, and move forward. On the one hand you want integration, and on the other you want to promote discrimination.

Happy “Australia Day” Australia! Let’s just party!

bookkeeping service covering Yatala, Ormeau, Pimpama, and BeenleighDoes a financial planner do bookkeeping? Well, some do, and some don’t – the one that contacted us a few days ago was looking to outsource his bookkeeping.

When a financial planner contacts a bookkeeping service because they are eighteen months behind in the paperwork, there’s a touch of irony.

It’s like the sparkie who still hasn’t wired up some extra powerpoints in his house though his wife’s been nagging him for three months

Or the accountant who has not lodged their own tax return for a couple of years

Business owners can get so caught up in the busy-ness of every day activities that they can never seem to find time to work on their business.

Even financial planners need the help of freelance bookkeepers to help them with the genera bookkeeping duties such as entering customer and supplier invoices, entering receipts, and calculating fuel expenses etc

Unless you’re passionate about bookeeping, you’ll always find excuses for putting it off.

As a bookkeeping service covering Yatala, Ormeau, Pimpama, and Beenleigh, we are often called up to tidy up the mess that has accumulated over the past few months. Contact us for detailsRead more… »

Do You Have Five Minutes to Expand Your Business?

Often our MYOB and QuickBooks bookkeeping clients around Yatala, Ormeau, Pimpama, and Beenleigh are so busy involved working in their business that they tell us, their bookkeepers, that they’ve no time to work on their business.

Here’s a simple habit that you can form and stick to everyday. Then watch the results. All you need is five minutes.

Can you find 5 minutes to at least one of these things to expand your business?

  • Send a quick note / email to a prospect, colleague, friend or acquaintance.
  • Invite a friend or business associate to lunch for next week – even if they cannot go, spend a few minutes “just catching up.”
  • Scan the local paper and jot a little note of “Congrats” to someone you recognize.
  • Have a look at your diary. Think of another opportunity to develop with a client you saw yesterday, then follow up with your client.
  • Call someone whose project you’ll be starting in the next two weeks and tell them you’re looking forward to seeing or working with them again. Ask how they’ve been.

If you’re looking for some more ideas Contact us

The Rudd Government recently announced that it’s found a way to help small business owners.

Australian Government Reducing December Quarter PAYG by 20%

In an attempt to weather the global financial crises, The Australian Government is reducing by 20% the quarterly PAYG (Pay As You Go) instalment due for the December 2008 Quarter. If you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009

However, the information released by the ATO then adds a comment. Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)

You may have already received a letter from the Australian Taxation Office in relation to the December quarter PAYG reduction. Just be aware that it’s not a tax cut and it will all be adjusted at the end of the financial year

PS We are not registered Tax Agents and cannot give advise in such matters – Speak to you accountant to see how it affects you

Need Help With Your BAS Lodgment?

MYOB-telephone-supportA new client contacted us out of desperation. Struggling to prepare all the documentation for the Business Activity Statement, she could not get the figures to balance.

We suggested she email us the MYOB data file, so that we could get a clearer understanding of where she was at with her bookwork. Contact us for details

She then admitted that there were two different data files being used in the office for the bookkeeping!

Here lies the problem: If you are working on the bookkeeping in one MYOB data file, and someone else is working on the bookkeeping in another data file for the same company at the same time, errors will arise – because MYOB is not designed to cater for that.

So we asked her to send us the other MYOB data file , and then we had to work out which file was the most current.

Often when clients around Ormeau, Yatala, Coomera, Eagleby and Beenleigh ask us to help them with their BAS (Business Activity Statements) the problem is not with the BAS. The problem lies with somewhere within the bookkeeping process during the BAS preparation. You know the saying GIGO – garbage-in, garbage-out! The actual completion of the BAS form is the easy part.

After all, if the figures do not balance, you can simply make a general journal entry to fix it all up – right? WRONG Contact us for details

PS The ATO advises that:” if you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)

Bookkeeping and Home Renovations

High Cost of Home RenovationsHome renovations can be a popular way of adding value to a property, so long as they are done with care.

We recently inspected a detached house around Robina that had been renovated and looked very presentable. So much so that the vendor had received a firm contract for a prospective purchaser, subject to a “Building and Pest” report. Read more… »

Wishing You a Merry Christmas

Wishing You a Merry ChristmasFor many people in and around Beenleigh, Christmas means a few days off, a few too many shandies, and maybe a few presents.

For the retail trade, Christmas is always seen as an important time of year for their turnover. But what about the real message of Christmas. Remember this: Like it or not, Jesus is the reason for the season.

Walking around the Hyperdome Shopping centre, there has been some attempt at Christmas decorations by centre management. A few stores have the token Christmas tinsel draped across the ailes, or around the cash registry. But where is the “heart” of Christmas.

Has “political correctness” overshadowed the Christmas Spirit? Commercialism has certainly taken over for many. Gosh! The muslims may be offended if there’s too much “Christmas Cheer” – Well, actually, not if you go to Dubai! You’ll see a heap more Christmas decorations and evidence of Christmas Spirit in Dubai than you will in Robina this year.

Perhaps it’s just apathy. Let’s just blame it on the world financial crisis shall we? Hark! The Herald Angels Sing, Glory to the NewBorn King

God Bless you Merry Gentlemen,
God bless the Master of this house
And Mis-ter-ess also;
God bless the little children
That round the table go;
God bless their friends and kindred,
That come from far and near;
May the Lord send a happy New Year,
Happy New Year,
May the Lord send a happy New Year.