Tuesday, 6 Mar 2018
The number one reason companies fail is due to poor bookkeeping and accounting practices. Items like:
It may seem straightforward, but when it comes to tax preparation, there is a lot of compliance. Be it, proof of Income documentation, Payroll and Asset Management it is important to turn to an expert. AGI Bookkeeping in Melbourne is here to help you with these services while using their expertise to save you a bundle. How does AGI Bookkeeping save you money? First by knowing their stuff.
Real Case Study
Anatole Kabov, owner of AGI Bookkeeping recently met with a new client who had been using an in-house bookkeeper over the last five years; she was retiring. When he first met the client, they seemed unsure of the idea of hiring a bookkeeping service versus another in-house bookkeeper. However, as part of the initial discussions, Anatole asked to have a brief look at the current bookkeeping system and was able to show just how much money could be saved. The previous bookkeeper had missed a lot of expense, GST deductions and the savings alone would cover the bookkeeping fees.
When Anatole reviewed the work, he noticed that merchant fees (fees charged on credit card payments) were coded as GST free. This is incorrect. When he investigated further, it turned out to be a $4,800 mistake over five years……he was able to make adjustments in the Business Activity Statements (BAS’s) and get that money back for the client.
This is only one way that a quality, knowledgeable bookkeeping provider can save your company money.It is this kind of coding and accounting practical knowledge that makes AGI Bookkeeping your best resource for tracking your business’ finances, overhead costs and tax deductions in Melbourne.
Another way AGI Bookkeeping can save you money is by taking the time to understand your business and its needs. It is one thing to track finances simply as they come and go, but in order to grow a business, you need to have a vision for your company’s direction and what it will take to get there. Spending the time to understand the idiosyncrasies associated with your business thoroughly, allows AGI Bookkeeping to keep abreast of industry-specific regulations and tax deductions that would easily be missed by someone who doesn’t understand what you do.
The third way, AGI Bookkeeping pays for itself, is by providing your company with expert systems and procedures that evolve as your business needs to expand, upgrade, or change locations; allowing you to hang onto every penny, while getting you back as much as possible when it comes time to file your end of year company returns.
