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How cloud bookkeeping helps these types of businesses

Monday, May 08, 2017 - by Max Business

Cloud bookkeeping is the new normal.

We’re presented slick and sophisticated features from our cloud bookkeeping systems (including Xero and MYOB) which can be implemented for a variety of business types.


Doctor bookkeeping

As a doctor, your main priority is patient care. We understand that bookkeeping in a fast-paced medical environment can often slip down the list of administrative tasks.

However, it’s imperative that a medical practice is backed by an efficient and accurate bookkeeping and accounting system that does not leave them liable for penalties, fines, or other ATO-imposed punishments.

Bookkeeping for doctors may include:

  • Account reconciliation
  • BAS production and lodgement
  • Client reporting
  • Payroll
  • Superannuation
    Cloud bookkeeping

Dental bookkeeping

It sounds preposterous that someone would visit anyone other than a dentist for dental work, so why would you choose anyone other than a bookkeeper to clean, manage, and maintain your business’ books?

Those in the medical profession excel in their field, but when it comes to managing financial aspects, some may struggle. When your bookkeeper essentially “keeps the books” on a regular basis, cash figures are balanced and books are now in order. And that keeps the taxman happy.


Real estate bookkeeping

Real estate agents, you’re not the only type of business that finds record-keeping a dull and tedious part of the job.

But that doesn’t diminish its importance, and as real estate agents, income and cash flow in a variety of ways:

  • Commission
  • Fees and expenses
  • Office expenses
  • Marketing
  • Mileage

The right bookkeeper will structure your business’ books in a way that is efficient, transparent, and accurate. We’ll also help you to navigate around unnecessary tax expenses, all through a seamless, cloud-based bookkeeping system.


Bookkeeping for tradies

After “dummies” and “small businesses”, “tradies” is the third most common search when you type Bookkeeping for… into Google.

It seems a lot of electricians, plumbers, carpenters, builders, and locksmiths are seeking guidance for the hassle-free bookkeeping that doesn’t take them away from their work!

Bookkeeping and other admin tasks quickly get pushed to the bottom of tradies’ to-do lists, and the reason is often one or both of the following:

  1. They don’t have the time
  2. They don’t have the knowledge

    Bookkeeper in Melbourne

The ATO's "next stop"

This article from November 2016 explains how the ATO cracked down on construction and building sites to “claw back revenue lost due to the illegal cash economy”.

The top three “risky” industries, according to Assistant Commissioner Mathew Bambrick, are:

  • Hospitality (approx. 70,000 businesses)
  • Hair and beauty salons (approx. 50,000 businesses)
  • Building and construction (approx. 406,000 businesses)

Getting your books in order may seem like a painstaking task, but with the right help from Maximum Business Solutions, the burden will be lessened and eventually removed!

As the saying goes, “Do what you do best, and outsource the rest.”


The advantages of cloud bookkeeping

Backup

Probably one of the most coveted benefits, automatic backup means you don’t have to worry about manually backing up your data periodically.

Anywhere, anytime access

Whether you’re out of the office for a day or overseas for a month, anywhere anytime access is possible in the cloud. All you need is an internet connection.

According to this blog from Xero, “advisors living in a pre-cloud world are spending up to 35% of their time chasing down documents from clients”. What a waste of time!

Secure

With encryption, strong infrastructure, and multiple layers of security, storing this important business data in the cloud is actually considered safer than storing it on your own computer.

IT issues are eliminated

On-site infrastructure no longer needs to be managed by you; we’re managing your books off-site through cloud-based technology.


Are your books a mess? Get help sooner rather than later from a bookkeeper in Melbourne

The longer you leave messy books, the harder your accountant needs to work in order to regain some financial clarity within your business.

Engage an experienced bookkeeper in Melbourne like Maximum Business Solutions and reduce the burden (and cost!) of your accountant. Contact us today to find out more: Book a consultation!