Tips for DIY bookkeeping and accounting

1. Get clear bookkeeping guidance throughout the year

When you are working with a bookkeeper or accountant, a simple mistake on your end can be quickly corrected to avoid serious damage. However, if you are flying solo, a small mistake at the beginning of the year that is repeated and not identified early can leave you in a mess.

2. Ask questions regularly

We find that some business owners are reluctant to use bookkeepers and accountants due to a lack of knowledge in how an accountant or bookkeeper operates. Asking questions regularly will help you to maintain accurate books, that are accountant-approved.

3. Steer clear of common mistakes with your basic bookkeeping

All too often, GST mistakes are the most common type of mistake we find with DIY accounting. These often aren’t discovered until the end of the year. Click the link below to learn more about how to avoid the most common GST mistakes people make.

The ATO’s guide to adjusting simple GST reporting mistakes.

How you can make the most of DIY bookkeeping and accounting

Figure 8 Accounts have a simple solution that will work for you and make the year-end bookkeeping quicker and more cost-effective: we work with business owners on a quarterly and monthly basis, doing a health check on the software you are using, guiding you in processing your books or providing the training that you need to run your books effectively and worry-free!

If you are keen on maintaining your books as well as ensuring that there are no big surprises at end of the year, give us a call to discuss your needs with a Figure 8 Accounts bookkeeper.

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