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Everything you need to know about Bookkeeping.

Are you a small business owner who is struggling to keep track of your financial transactions?

As a small business owner, you have a lot on your plate, and keeping track of your financial transactions can be a time-consuming and stressful task. Without accurate and real time financial records, it's difficult to make informed decisions that can impact the success of your business.

Bookkeeping is a vital component of managing your finances, and it's essential to understand what it entails so that you can avoid the common bookkeeping mistakes.

Bookkeeping involves recording and tracking your business's financial transactions regularly.

Bookkeepers summarise this activity into reports that show how your business is performing. It can be divided into three categories: data entry, payroll, and review and reconciliation of data entry.

At HelloLedger, we provide bookkeeping services for small businesses using the market leader of accounting software, Xero. Our expert bookkeepers take care of the data entry side of things, reviewing bills entered, and ensuring the correct GST has been entered to match the bills. We use state-of-the-art software that extracts key information from your receipts to streamline data entry of bills and ensure all expense claims have been entered correctly.

We also offer bank reconciliation services to ensure that your bank and credit card statements match the transactions recorded in your accounting software.

We can manage your accounts payable and accounts receivable: keep track of bills that need to be paid and invoices that are owed to the business. This helps manage cash flow and avoid late payments.

We prepare a profit and loss and balance sheet at the end of each month for your business to ensure consistency of allocations and review any director loans end of the month for companies. Additionally, we can look after your payroll to ensure you and your team are paid on time, every time and provide estimates of GST, PAYGWH, and super each month, so you can budget accordingly.

Bookkeeping can be a daunting task, but it's a critical part of running a successful small business. At HelloLedger, we're here to help you navigate the legal compliance of bookkeeping, save you time and take the pain and stress out of financial management.

Contact us today to learn more about our bookkeeping services and how we can help your small business thrive!


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