Successful bookkeeping starts with the very basics
Gone are the days of keeping financial records in actual books. It’s a modern world out there, and every start-up needs these few basics for effective bookkeeping in 2023-2024:
1. Hardware
Your smartphone alone will get you most of the way, but your life (and that of your accountant and bookkeeper) will be much easier if you also have a desktop computer or laptop.
2. Software
I could wax lyrical about why we recommend Xero as your software of choice, but we do have clients on other platforms. There are lots on the market to choose from. If you are unsure which best meets your needs, speak to your bookkeeper or accountant.
3. Accountant
Yes, your bookkeeper is telling you to get an accountant. At LPB we can help with GST, payroll, BAS (as we are also registered BAS agents), financial record keeping and establishing great financial systems. But you need an accountant to help with everything tax, including planning, Capital Gains, and Fringe Benefits.
4. Bookkeeper
Start strong. Getting a bookkeeper on board from the very beginning will ensure you meet ATO compliance requirements and establish practical, easily managed financial structures that set you up to grow. Think of us as part of your day-to-day team.
For customised advice on the best software for your business, book a FREE 30 minute consult with us today.