Is your bookkeeping hourly rate accurate?

As a business owner, especially a small one, you want to ensure that you’re bringing in as much cash as you can and keeping your expenses low. You will find that one of the major ways by which you can cut your costs down is to keep your bookkeeping hourly rate as low as you can.

• Dig Deep into the Details:

The thing which you need to be careful with when you’re comparing bookkeeping rates is that you are comparing apples to apples. You will find that a permanent bookkeeper might be able to undercut the hourly rates of a freelance bookkeeper. Make sure that you’re looking into how the more costly bookkeeping hourly rate may, in fact, turn out to be the better deal.

• Understanding Hidden Costs:

If you’re deciding between an outsourced bookkeeper and one to hire in office, you have to take a lot of things into consideration. First, you will find that it is expensive to hire someone. Then you have to take an interview and do background checks, which can be expensive. Outsourcing a bookkeeper may actually be less expensive when it comes to the inflated bookkeeping hourly rate when hiring someone.

• Take into Consideration the Total number of Hours Needed:

Outsource your bookkeeper and your bookkeeping hourly rate will drop. You can have them work for you when you require them and when you don’t need them you will not be paying them to sit in the office like the way you will have to if you hire a full-time bookkeeper.

• Accountability is costly

A bookkeeping error can be extremely costly or it can even destroy your business. Do not put yourself in that position merely to save a few dollars. Instead, outsource your bookkeeping. By doing this, you can hold the outsourcing service responsible for the mistake instead of it falling onto your own shoulders and potentially ruining your business. The savings alone should be enough to understand that the Bookkeeping hourly Rate you are being quoted is so much more than just a rate.

Are you confused about the ‘Bookkeeper hourly rate’? We have the right solution for you!

In the current economy, potential new clients always take into account the ‘Bookkeeper hourly rate’. It is understandable that this would be one of the worries of the small business owners when looking to outsource bookkeeping. The most important thing in your business is to generate profit. This means spending time with your customer and not getting caught up in paperwork.

A high Bookkeeper hourly rate should not raise your eyebrows as a good bookkeeper will help you increase your profit. He makes you recognize the area where you need to focus on increasing growth and profitability.

What you really need in a bookkeeper is - efficiency and experience! The level of experience a bookkeeper has is reflective in their hourly rate. The bookkeeping rate should correspond to the job you will be allocating to the bookkeeper and his skill to accomplish them. You can also look at contracting a service which has a bookkeeping team.

So, once you have decided that you want a qualified & experienced bookkeeper, you need to first judge their Bookkeeper hourly rate. You then have to ask or check their website for client testimonials and credentials.

Do not be reluctant about contacting these referees because hiring a bookkeeper is one of the most significant decisions you have to make within and for your business.

At Reliable Bookkeeping Services, our goal is not confined to the compliance with ‘Australian Taxation Office’ but also to understand the client’s need of being kept updated about financial and analytical information of his business. This information will assist the client in decision making. This will lead the business owners to get back their valuable time so that they can focus on developing and expanding their business. Reliable Bookkeeping Services updated financial reporting includes great services at very reasonable rates.

6 benefits of hiring a bookkeeper in Port Melbourne

It is clear that hiring a Bookkeeper in Port Melbourne is certainly beneficial for a business. You are relieved from the trouble of bookkeeping. You can focus on production, marketing, and development. You need not worry about the boring figures. Isn’t this good news for all businessmen who fear numbers and bookkeeping?

Make sure you find the best Bookkeeper in Port Melbourne who is experienced, efficient and familiar with the needs of modern bookkeeping and above all is honest. Following are 6 benefits of hiring a bookkeeper:

1. Bookkeeping is the right tool to uncover the amount of profit earned. A professional Bookkeeper in Port Melbourne can maintain the accounts more effectively. Minor mistakes made in bookkeeping may turn out to be extremely costly mistakes. Proper service of a bookkeeper is needed to avoid such costly mistakes.

2. Some businessmen feel that it is better to train their own employees in bookkeeping rather than employing a professional Bookkeeper in Port Melbourne. They feel that it is cost saving. Are you one of them? If so, you are totally wrong. Training a staff can be much more costly and time-consuming.

3. Hiring a bookkeeper reduces stress. You can stop worrying about data backup, indemnity insurance, updating bookkeeping software, BAS due dates and compliance with the industry. All the above responsibilities are assigned to the bookkeeper.

4. Budgeting and sticking to budgets are vital for the success of a business. A well-formulated budget assists in saving expenditure and increasing income. When a bookkeeper is familiar with your business, he can provide you with valuable expert guidance in planning budgets.

5. A professional Bookkeeper in Port Melbourne would provide you with assistance in financing, pricing, marketing, information technology and financial advice. This results in an overall efficiency of your business.

6. When you hire a professional Bookkeeper in Port Melbourne you will have no more worries regarding late lodgement of BAS, wrong invoicing, wrong claiming of GST and incorrect coding of GST.