The first answer that came to mind when I asked myself this question was “a good pat on the back.” Kind words and appreciation are the free bonuses we seek. Bookkeepers aren’t miracle workers but often we need to rely on our instincts and our prior knowledge to get the job done.
Some of your time at the beginning of each quarter to discuss your business financials. Spending an hour with the bookkeeper, either in person, or by phone, gives your bookkeeper time to ask any questions she might have and it gives you time to ask the bookkeeper any questions you might have. Getting on the same page at the beginning of the job saves a lot of time and money later on.
Provide your paperwork in a timely manner. BAS returns need to be submitted to the tax office only weeks after the end of each quarter. I would suggest having your paperwork ready four weeks prior to the date when BAS needs to be submitted to the tax office. ie, the beginning of the last week of each quarter, earlier if possible. If you can provide your information monthly, that is even better. It is much easier to add a few statements and invoices to the bookkeeping at the last minute than it is to do an entire quarter of bookkeeping at the last minute and it gives us time to dedicate ourselves to doing an outstanding job for you.
The Paperwork your bookkeeper needs.
Creditors invoices, including those with whom you have accounts, fuel dockets, cash sale dockets, emailed bills such as tollway accounts, phone bills, car repairs, maintenance, accessories, the list is endless. If you bought it or paid for it from the company bank accounts, we need to see it.
(If you have someone doing your data entry for you, these will not need to be provided to your bookkeeper)
Debtors invoices, these are the invoices you provide to your customers from which they pay you.
(These can be excluded if you have someone entering them into your bookkeeping program)
Petty Cash dockets or a list of purchases made through petty cash.
Wages you have paid yourself, the owners and investors, and the staff, including the hours worked by each individual and the pay rate and penalty rates if they apply
Bank statements for each account you have for the business. This includes credit card statements and Paypal statements if you use them. If you have a cloud based bookkeeping program, your bank statements can be linked to your program, however, it is quicker and easier for your bookkeeper to work from hard copy statements and even if the account is linked, the bookkeeper will most likely print them off.
New lease agreements for cars, property, machinery and any new loans information.
Any changes within the financial structure of the business or any information that your accountant has provided to you or asked you to keep records of.
What’s In It For You?
There are multiple benefits of providing your bookkeeper with all of the paperwork required to do your bookkeeping. Here are just a few:
* Save you time and money because the bookkeeper will be able to get on with the job quickly and efficiently.
* Allow you to see the purchases and income that your business generates and you will be able to keep an eye on your business financials.
* Save your bookkeeper time not having to phone, text, or email, to request this or that document.
* Save you from being interrupted and being taken away from making money within your business.
* You will have a neatly filed source of financial information at the end of each quarter should you, your accountant, or the tax department have any questions at a later date.