Make no mistake, we bookkeepers love when you ask questions. And not just because it gives us an opportunity to show off - questions allow us to provide information that matters to you.
Moreover, questions allow you to clarify anything you don’t understand!
There’s no such thing as a dumb question when it comes to bookkeeping. Here are four that you’ll want to keep in mind for your next one-on-one consultation with your bookkeeper in Melbourne.
1) Where does my money go?
It’s a tad forward, we know. However, it’s a good question to ask if you don’t have a solid grip on your expenses!
When people work with a small business bookkeeper, it’s not uncommon for them to immediately go hands-off with their expenses.
The result? When it comes time for the weekly, monthly or quarterly meeting, the business owner has no clue what’s happening!
If you’re out of the loop, don’t be afraid to ask your bookkeeper straight-up.
Not only does this give you a clearer picture of your business expenditures, but it’s also a subtle test of your bookkeeper’s diligence.
Is your bookkeeper able to provide you an answer instantly and present a report to back it up? If so, you’ve got a good one!
2) How can I better improve sales?
Bookkeepers are in a unique position. As the individual responsible for tracking the overall financial health of your business, they have a unique insight into what’s selling and what isn’t.
While we can’t exactly provide sales training, we can tell you which products and services of yours have the:
- Highest profit margins
- Lowest expenses
- Best sales figures
Since bookkeepers keep track of your revenue, costs, and expenses, they can help determine which products or services you need to promote to improve cash flow and profitability in the long run.
We know it can feel embarrassing - don’t worry about it. We know that business owners are busy people, and it’s easy for things like this to slip through the cracks. That’s why we’re here!
3) How can I effectively manage debts?
You can control for expenses. You can advertise to try boost sales.
But you can’t compel people to pay their debts on time!
So is it any wonder collecting debts is one of the most stressful parts of small business bookkeeping?
If you find debts too stressful, ask your bookkeeper whether they offer debt collection services.
Your bookkeeper in Melbourne can set up a more effective collection system. And we don’t just mean in terms of efficiency either - sometimes, payment might be late because your debtors might have had a bad month and be unable to find enough money to pay you back.
If this is the case, we hash out an alternative payment plan that ensures you receive your money without harming your long-term relationship.
Not to mention, your bookkeeper will look after your debts and obligations too!
Since we have access to all your credit records, debts and payment terms, we can help you craft a repayment plan. We’ll help you prioritise debts and negotiate with your creditors to minimise late repayments and maintain your credit rating.
4) How can I avoid running through cash flow problems?
Cash flow is the lifeblood of any business.
Experiencing problems with your cash flow? Ask your bookkeeper for help!
Your bookkeeper works with expenses, payments and revenues, and where each of these things are coming from. If there’s anyone who knows your cash flow, it’s your bookkeeper.
As such, they’re in the perfect position to give advice on how to improve your business’ cash flow if you ask for it.
5) “Can you give me few suggestions on how to improve our bookkeeping system?”
Your bookkeeper’s specialty is the numbers - business expenses, revenues, cash flow, you name it. Day in day out, we’re hard at work providing bookkeeping for a huge range of businesses.
That means we’ve set up highly-effective bookkeeping processes. These processes save us time, effort and money.
And if you ask us politely, we’re more than willing to set you up with them!
One of the services we provide at Maximum Business Solutions is cloud bookkeeping services. We’re cloud bookkeeping converts - unlike standard software, cloud bookkeeping:
- Can be accessed from anywhere
- Is backed-up and secure
- Is fully-automated, syncing with your bank accounts
- Provides records of edits and modifications
This isn’t the first time we’ve talked about the benefits of cloud bookkeeping. Click here to learn more about cloud bookkeeping.
Make every bookkeeping consultation count
Talk to a bookkeeper in Melbourne today
Cleaner books, a more financially-stable business and better financial decisions - that’s what a bookkeeper in Melbourne can help you achieve.
Just don’t forget to come with questions prepared!