How does that affect your reaction time when problems arise?
How long do you spend keeping your books in order?
What else could you be doing with this time? How much extra sales and profit could you be making?
How much is it really costing you to do your books yourself?
If the answers to these questions make you nervous and unable to sleep at night, you need to consider Red To Black’s comprehensive and flexible suite of accounting and bookkeeping services.
Most business owners are under the misconception that it is cheaper for them or one of their admin staff to do their books themselves. However because they are not formally trained in accounting or bookkeeping, it takes them longer and mistakes are made. This means the financial data cannot be trusted to make decisions and manage the business – a critical oversight.
It makes more sense to let Red To Black’s management accountants set up your systems and then put our bookkeepers to run them. It won’t take as long as you doing it yourself (and we also provide training services for you or your staff if you prefer to go that way), plus it saves you time to run your business and you get data you can trust to make decisions – win, win, win.
Many business owners do not have a good idea of what the money in the bank needs to be used for. They don’t know what is expected in, what bills are coming up or where they are spending their hard earned money.
Red To Black’s bookkeepers will regularly reconcile your accounts and give you a forecast of bills and money coming in – so you can make decisions based on data and not on last minute ‘hunches’. And by correctly coding up expenses our bookkeepers can let you see how where you are spending money compared to your budget… and if you don’t have one, don’t worry our management accountants can assist you there too.
It is amazing but many small business owners do not send out invoices in a timely manner. This means that money does not come in regularly and bills are hard to pay.
Do not let this happen to you. Our bookkeepers will regularly issue your invoices and will follow through on the overdue ones, chasing up on late payers. Another stress out the way.
All the rules around payroll are very complicated and it is easy for small business owners, or other untrained persons, to get things wrong. For example, would you know all the various award and penalty rates that apply; or what super obligations are on the various labour, leave combinations; or are you accruing leave accurately? Making corrections is costly and can also include fines for not meeting statutory obligations.
Our management accountants are experts at setting up payroll correctly and our bookkeepers have been trained on the various nuisances of running payroll. Working under close supervision by our accountants means that our bookkeepers can identify concerns straight away and get things sorted out before they turn into real problems.
Penalties for being late lodgement or for errors make small business owners stress every time the BAS is due. Our bookkeepers work under the close supervision of our management accountants to ensure your BAS is submitted on time and that errors are picked up and corrected.
If you are “doing” your business, including your bookkeeping, then you are not “running” your business. For instance, would you know if you are running at a profit? When you complete a job or a sale, can you tell if it was profitable? Did you sell enough this week, month, quarter?
By having Red To Black’s management accountant set up good business processes, including budgets and job categories, you will be able to receive regular reports that show you precisely those things: your overall profitability; what jobs / products were profitable; how did you perform against budget; and also where your fixed and variable expenses may be getting out of hand.
This is the one single element that has the most potential for taking your business from the red to the black.
Let our qualified management accountants, bookkeepers and admin staff take the load off your shoulders and let you get back into the control seat, where you can do the most good for your business.
Our staff are more than happy to handle your daily bookkeeping chores, whether at your site or ours (and we are also happy to provide face to face training to you and your staff if you prefer to go that way). And even better than having your financial reports up to date, is having them reviewed, analysed and summarised in simple to understand charts, so you can make the best of the short time you have to manage your business.
Because our processes are optimised across our client base, Red To Black can run through your accounting needs quickly and smoothly, further saving you money.
And what would happen today if you or your bookkeeper fell sick or took holidays? Who would pay your employees? or bank your cheques?
With Red To Black on your team you are also lowering your risks. Our staff are trained in our accounting, bookkeeping and office processes so we can keep supporting your business even though staff may be off sick or on annual leave.
Red To Black can also provide consulting, training and support services to your staff.
We have experience in various accounting packages and have used MYOB and Xero extensively.
Contact us to discuss your particular business needs and let us show you how to save time and money, while at the same time enabling you to more clearly see where your business is and where it is going.