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Chris Mercer, Danger Signs

Chris Mercer, Danger Signs

What can you expect from your bookkeeper? How do you know if you are getting the work you should be getting from them? Mistakes, and corrections you pick up, do they mean danger signs?

In short so many business owners can't answer the above questions, but everyone of you has thought of them. It is the sense of trust and loyalty a business owner has in their bookkeeper that ultimately blurs their vision. For many the acid test of a bookkeeper is, ‘If there are no complaints I’m happy’. What a dangerous mindset

So to help, I want to provide a checklist of bookkeeper roles that should be completed, some weekly, others are periodical.

  1. Weekly Accounts Payable and Payment Preparation
  2. Weekly Sales Invoicing and Banking
  3. Weekly Bank Reconciliations
  4. Payroll and Superannuation Processing
  5. Ad hoc Invoice Queries
  6. Credit Card Reconciliations
  7. Payroll Tax and Workers Compensation Payments
  8. BAS Preparation Periodically
  9. Profit and Loss Reports
  10. Liase with Tax Accountant

What bookkeepers are not always able to do are: Software upgrades, supplier reviews, chart of accounts changes, mind read, budgeting and cashflows.

Your relationship and dialogue with your bookkeeper is essential to a quality accounts team. The business owner is across all decisions and strategies in the business and the bookkeeper will need access to the owner to clarify how best to handle these decisions.

It’s team work that will deliver the best results and this requires effort and attention of you and time spent answering these matters.


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