SubscribeCash-flow and Bookkeeping in a Tight Economy
In a tight economy you need to ensure that you have a handle on what money you owe and to whom, and what money is owed to you and by whom.
As a small business owner in Ormeau, Yatala, Coomera, Eagleby and Beenleigh you need to ensure that you have a handle on your cashflow. If you do not have a bookkeeper, or book-keeping system in place then contact us here for details
If you do not use an accounting software package such as Quickbooks or MYOB, if you do not use a bookkeeper, or have a bookeeping system in place then you could be heading for disaster. Unlike Kevin Rudd’s government, most likely you do not have an unlimited supply of cash,
What is 2009 looking like or small business owners at the northern end of the Gold Coast?
Some economists are predicting a tough year for the Australian economy. Since the Gold Coast relies heavily on tourism, the Government’s campaign to encourage Aussies to holiday within Australia could be of benefit.
For small business owners around Ormeau, Yatala, Coomera, Eagleby and Beenleigh that aren’t involved in tourism, perhaps the government’s boost to the first home owners grant may create some stimulus.
Unlike the government that apparently has an unlimited supply of money, if you ain’t got it to spend, how can you spend it?
Keeping on top of your bookwork when the going gets tough is so critical. Customers that have always been slow in paying, could now be even slower.
Even customers who were quick to pay, begin to stretch out the payment of their invoices. Do you have a book-keeping system in place to give you Quickbooks or MYOB reports each week?
Small business owners who are so busy undertaking the everyday tasks of running their business often leave the bookkeeping work until the end of each quarter when the next BAS (Business Activity Statement) is due to be lodged. This habit can be disastrous in a tight economy.
You need to have a handle on your finances week in, and week out. If you do not have a bookeeping system in place, you may find that within a few months you do not have a business.
Many small business owners understand that outsourcing their book-keeping to a contract bookkeeper can be a great investment.
Other small business owners still insist on trying to muddle through their bookkeeping, regarding a freelance bookkeeper to be an unnecessary expense. They may get their wife, girlfriend, or partner (or all three) to have a go at doing the bookwork.
Professional mobile bookkeepers can come to your premises each week, fortnight, or month or even each quarter to straighten up the paperwork, undertake any data entry, and carry out relevant Quickbooks or MYOB reports to ensure all your bookkeeping is in order.
Our bookkeeping Service has clients in and around Ormeau, Yatala, Coomera, Eagleby and Beenleigh. Contact us here for details
So how’s your bookkeeping? Cash-flow is king in a tight economy.
