You Run the Business, I Keep the Books 

Create A4 Manilla Folders with the following labels:

​

​

Current Bills to be Paid (Accounts Payable)

Data Entry (Paperwork to be processed)

Remittance Advices (Payment information from your debtors)

Credit Card Statements (Include a list of reoccurring expenses)

Bank Statements (Include a list of reoccuring direct debits)

Debt Collection (Information collected about overdue payments)

Clients to be Invoiced (Accounts Receivable)

Current Client Quotes

Questions and Queries for the Bookkeeper

 

 

​

​

Design a Business Invoice that includes your Logo and Banking Details which will help you get paid on time

​

​

Use a red pen to make notes on your bank and credit card statements relating to any odd expenses i.e. expenses such as Staff Gifts or Client Entertainment

​

​

Always use a Company credit card for all business related expenses and keep your personal expenses separate

​

​

Ask your Accountant which documents will be needed at the end of the year and maintain a separate folder for each type to save yourself from having to source these files later (i.e. Bank Statements, Vehicle Leases etc)

 

​

Confirm whether your business needs to register for GST and if so, take the appropriate steps with the ATO to ensure you receive Business Activity Statements

 

​

Establish a Chart of Accounts and determine if your Accounts list provides you with accurate list of Expenses, Liabilities, Costs of Sales and Income breakdown

 

​

Setup an effective system for dealing with overdue accounts and maintain the same procedure each time you contact your overdue Debtors

​

​

Organise a reliable filing system to ensure that all Bills are paid within terms to your Creditors to help you avoid any late fees or penalties

 

​

Create checklists for the bookkeeping procedures you’ll use weekly, monthly, and quarterly and follow these every time you do your Books