Category: Bookkeeping Tips and News

Basics Of Bookkeeping For Startups

Are you a startup business or a small business? If so, the sooner you get your accounting systems in place the better for your business. Please read below to learn how you can do this. Bookkeeping refers to recording all the financial transactions of a business or company. It, therefore, entails recording the sales, purchases, […]

Qualities Of A Good Bookkeeper

What qualities does it take to make a good bookkeeper? Not everyone is cut out to be a bookkeeper. Let’s take look now at what makes a good reliable bookkeeper. Bookkeeping is critical to any business organisation, and finding the best bookkeeper could contribute to the financial success of your business. Whenever a business is […]

What Does the Term Formal Bookkeeping System Mean?

Are you familiar with the different types of bookkeeping that are out there? Which one is best for your business? Let’s take a look at the different types of bookkeeping in the article below. If you are a business owner then you will have to deal with accounts at some point. Having an organised system […]

Which are Better and Why – Bookkeepers or Accountants?

If you’re in Melbourne and planning on hiring someone to help manage the finances of your business, then you have probably found yourself wondering whether you need a bookkeeper or an accountant. What’s the difference, and which should you bring on board to help take care of your company? What is a Bookkeeper? Bookkeepers are […]

Is Journal Entry and Double Entry Bookkeeping the Same Thing?

Bookkeeping can be a confusing task because there are so many ways to do it. It’s not easy for someone who is untrained to understand how to log transactions.  Most people have heard of double-entry bookkeeping, but what about journal entry?  What’s the difference between these two? Is there even a difference at all? Journal […]

Can I Outsource A Bookkeeper?

Can I outsource a bookkeeper? This is a common question among entrepreneurs because of the many advantages associated with the concept.  And it is only natural for you to ask the same thing if you want to make more cost-effective decisions for your business.  When running a startup, you need to keep an eagle-eye on […]

What is The Best Bookkeeping Software For a Restaurant?

Running any form of small business is stressful and challenging, but the restaurant industry can be particularly tricky, because there are so many costs to take into account, and income can be so variable.  Restaurants have both fixed and variable overheads, and it is likely that they will be taking in a lot of cash […]

What Is The Four Element Bookkeeping System?

Bookkeeping is the process of recording daily transactions for a business.  That is a brief way of defining it but that can also oversimplify the actual work which goes into the process.  Bookkeeping is more involved than the simple recording of income, expenses and a tally of how much cash is on hand.  It is […]

Understanding Bookkeeping Basics

Bookkeeping is the core of the accounting system for all businesses.  The people responsible for it are tasked with recording and categorising financial transactions as well as the techniques of recording those transactions.  Small business owners are quick to disregard the significance of bookkeeping due to the lack of knowledge of what it entails and […]

Tax Late? 5 Signs Your Business Needs A Bookkeeper

Owning a business comes with a great deal of responsibility, including making sure that your finances are in order.  You may have tried handling this on your own, but hiring a bookkeeper would be in your best interest.  Here are 5 reasons to bite the bullet and seek out professional help. 1. On-Time Tax Filing […]