Recording Transactions – Working With Your Accounts

Without a doubt, you started your Trade Business because it was the area or industry you were skilled in. Because it was a passion, a future for you to build on and grow with. You wanted to build a solid foundation and achieve success in your field of expertise.

Every successful entrepreneur knows that the building blocks of success are not limited to just one skill and most certainly not limited to one person. In order to be successful you must surround yourself with expertise, integrity and ingenuity. To be successful you recognise that you need to surround yourself with people who have the skillsets that you don’t, but that your business needs.
In business it’s important to recognise not only where you want to spend your time but also where your time is best served. Once you know that, then you find other people who have the skills your business needs that you do not have the time or expertise to devote to. Running a successful business requires well implemented and well maintained accounting and bookkeeping.
Tradie Bookkeeping Specialists run on integrity, passion, drive and connection. We connect with you and let our skills work for you whilst you work on driving your business, be that on site or off site.

When working with accounts you don’t want just any old person handling your information, knowing the ins and outs of your innermost company details and finances. You need someone you can trust and rely on. Starting with the recording of your transactions and working with your accounts. Be it preparation of accurate quotes, preparing invoices, processing sales or recording customer payments. Tradie Bookkeeping Specialists are the bookkeepers you can trust. Working with your accounts involves job costing, preparing bank deposits, recording supplier payments, creating adjustment notes for sales returns, recording bank and merchant fees, recording general journal entries and so much more. It involves reconciliations, payroll, ATO compliance and reporting and keeping track of accounts.

There are many reasons why recording your transactions is important. When you think about it, especially if you are not a person who enjoys administrative work and number crunching, handling the details of recording each and every transaction you make might seem like a painful task and perhaps a waste of your valuable time and energy. And for what outcome?
Well, to be honest, it is a waste of your valuable time and energy. This is not what you were trained for. But it is what your business needs. Keeping track of all your transactions is the first line of defence in knowing exactly where your money is coming from and where it is going. Recording all your transactions helps you maintain a finger on the pulse of your growing empire and use the information in your accounting system to fine tune your business strategies and guide you towards making more money. It will also help you see where your businesses’ strong points are and steer your resources and expertise in the right direction.

Working with your accounts does not mean you, yourself, must personally learn and implement accounting practices. That would not be cost effective. What it means is that you outsource to a reliable, reputable bookkeeper who has the skills and industry knowledge to help your business grow. Tradie Bookkeeping Specialists will work with your accounts, visit you either on or off site and use their skills to make your business better. An intrinsic component of your business is the administrative side: the setup, the accounting and the operational fundamentals that will give you the information you require in order to build your business.

One of the vital components of a successful business is to ensure that your company meets all compliance requirements and this, if you are not skilled at it, can be challenging. If your accounts are not managed correctly there is every chance that some stage you will find yourself in a non-compliant position. Let’s resolve this by working with your accounts and managing your transactions so that it never becomes an issue for you.

It is common for the implementation of account management systems to come down to price. Whilst sometimes this can work very well it is dependent on the nature and complexity of your business. Start at the beginning: put Tradie Bookkeeping Specialists in place. A thorough review of your business requirements and processes will begin the foundation needed in order to start managing your transactions and working effectively with your accounts.

One of the keys to success is to take small smart steps towards your goals. Start now! Tradie Bookkeeping Specialists are experts in their field, with a deep knowledge and understanding of the Trade Industry. We guarantee top level integrity when working with your accounts.