Business owners want to analyze their company’s finances but are too busy with their day-to-day activities to take the time to do so. Regardless of your opinion on accounting, it’s a task no business owner can afford to neglect.
If you are looking for a professional BAS agent near me, we are professional BAS Agents who have been helping our clients keep perfect records for many years. As BAS Agents in Australia, we are committed to working with small and large businesses.
Double Click Solution offers a wide range of on-site best BAS agent services in Australia to meet your business needs. Services tailored to your business needs.
Problems: Separate business and private banking transactions
- Mixing expenses and income is a common mistake in small business accounting. This can lead to major problems for your business in the future.
- As soon as you decide to start a business, open a separate business account and credit card for your business. This will not only keep your accounts separate but will also improve your business’ credit rating.
- Automate everything that can be automated. You can no longer enter data into spreadsheets or calculate numbers by hand. Use online accounting software and bank online. This way you can synchronize your Accounting software with your bank account so you always have the most up-to-date data.
- Consult with an expert Consult with your BAS Agent to see if you can use standard Accounting software or if you need to customize it.
If you put off doing your accounting and bookkeeping for too long, you may discover unpaid checks, late invoices and inconsistent numbers. Check your books weekly to make sure everything is in order.
Look at your accounts and financial statements at the end of each quarter. Look for trends, such as whether sales and revenue have increased or decreased from the previous year, or if the number of customers not paying on time has increased. Talk to your BAS Agent to get a sense of the situation so you can prepare for future financing needs.
Keep a record of your business expenses
- There have been many changes in tax laws, so talk to your BAS Agent about the types of expenses you can deduct next year. Save time by keeping a detailed record of all the expenses you want to claim and scan and scan your receipts.
- Track your employees’ hours with time management software. Cloud-based time management software allows employees to record their arrival and departure times from their smartphones, tablets or computers. But in addition to making your job easier, it can also make your life easier by automatically tracking overtime and time off. If you choose a program that works with your accounting software, you can easily calculate your payroll.
Know when your taxes are due to avoid the hassle, set up a budget and set aside funds for scheduled tax payments. Make your payments on time to avoid paying penalties.
The sales tax calendar on the IRS website can be synced with your online calendar so you never miss a deadline. You can also send reminders one or two weeks before the deadline.
Our small business Accounting tips will help you better manage your daily Accounting and office tasks. These tips will show you how Australia BAS Agents keep their books and improve your skills and knowledge to effectively manage your business.