Besides the obvious keeping of books that is!
Does anyone else stereotype what someone does in their job according to their job title?
- Firefighters fight fires (and shoot raunchy calendars)
- Teachers teach (and help us get smarter)
- Nurses nurse (and make hospitals a little less scary)
- Bakers Bake (and start bloody early, so we get fresh bread)
- Gardeners garden (and make masterpieces in our outdoor spaces)
So, when I tell people that I’m a bookkeeper, I totally get that they think I just do books. A bookkeeper keeps books – that’s logical.
It’s only when I start explaining exactly what a bookkeeper does, that my clients realise the true value of having me as part of their team.
Did you know a bookkeeper does this?
Cracks the whip:
Your bookkeeper will not only take care of the day to day account management but will follow up with people who haven’t paid your invoices. When you’re relying on payments, your bookkeeper will make sure they’re coming in by the due dates. They’ll also make sure you’re paying your invoices, so you’re not keeping anyone waiting.
Does number tricks:
Bookkeepers are a bit like magicians. There are certain tricks to make sure your superannuation payable, payroll payable and GST liability are all accurate. Your bookkeeper will know how to cross check these amounts with your accounts to make sure everything is in order.
Keeps the ATO happy:
If you’re registered for GST, then you’d know the importance of BAS preparation and lodgement. Get this wrong, and you’ll get your bum smacked. Your bookkeeper (who is likely to be a BAS agent) will measure how much GST you’ve charged vs how much GST you’ve paid to suppliers, and make sure the government get their share (to keep them happy).
Is a number whisperer:
We may not have movies made about us, but bookkeepers are number whisperers. To most people, numbers suck. But to number nerdy bookkeepers, we love numbers; we listen to them and understand them. A bookkeeper will be able to explain your businesses finances to you in simple terms – what’s making you money and what’s costing you money.
Deciphers deductions:
So many small business owners have no idea what they can claim at tax time. Your bookkeeper will be able to give you general advice on what you can claim. For example, travel, fuel, food, alcohol, client gifts etc. With the ATO setting their own rules, you need to handle your expenses the right way to get them ‘approved’.
Buddies up to your accountant:
Think of your bookkeeper and accountant as a little team. They will work together to help your business be in the best financial position possible. Your bookkeeper will prepare your books, and then your accountant can do all the hard-core number crunching. And the best bit? When your bookkeeper and accountant work together, you don’t have to be stuck in the middle, relaying messages you don’t understand.
Sets everything up for you:
It’s true that most bookkeepers will have their preferred accounting system. But great bookkeepers will get to know you and then recommend a package that works for you. They’ll help you decide what will work best for your business and then set it up for you. And if you’re currently still filling shoe boxes, your bookkeeper can help you transition into being paperless.
Have you got an amazing bookkeeper?
Did your bookkeeper wow you by doing things you didn’t know a bookkeeper did? I find that most of my new clients are shocked when I start showing them where they’re leaking money in their business and how to fix it. They always think they’re simply, ‘getting their books done’.
I love showing people what a bookkeeper does. I’m proud of my number nerd status. Numbers are friends!
Over to you
I’d love for you to share what your bookkeeper does for you that you didn’t know they’d do when you first met them. Share your stories in the comments below.
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