Currency in certainty

In uncertain times, a good bookkeeper is worth their weight in gold, as the Institute of Certified Bookkeepers explains.

Ask any small to medium business owner what the biggest, scariest thing about the Covid-19 national lockdown was and they are likely to respond: having to ‘shut down’ the business within 24 hours. This meant having to convert their business into an agile working environment at haste, and mobilise a team who were also coming to terms with the abrupt change.

Benjamin Franklin is famously quoted as saying there are only two things certain in life: death and taxes. But we would like to add a third certainty: currency.

How does this relate to bookkeeping?

Where there is currency, there is a value chain analysis around that currency—and this is what a really good bookkeeper offers.

As Lisa Martin, Certified Bookkeeper and Executive Director at GoFi8ure in Wellington, puts it: “The value bookkeepers add is knowing what you don’t know and providing certainty in the data and accounts, which business owners need right now in these uncertain times.”

Bookkeepers provide a range of services, which varies depending on what each individual business requires, but they all provide the same fundamental assistance:

Certainty: accurate data takes the guesswork out of business A good bookkeeper:

Reviews your data daily, weekly, monthly or even bi-monthly to ensure your financial records are up to date

Carries out regular reconciliations based on bank statements to ensure accounts are up to date and that you are paying the right invoices to keep your contracts intact

Makes sure that when you invoice a customer, it gets to the right person and the payments are made

Ensures you are claiming the right GST each time because you know your data is correct

Provides a clarity and financial analysis to support your decision making.

Currency: accurate data helps your business be financially successful A good bookkeeper:

Ensures your business is meeting legislative requirements in terms of your employee obligations, thus reducing the risk of error and penalties

Want to engage a BOOKKEEPER?

If you have read this article and found a new reason to justify engaging a bookkeeper in your business, search the ICNZB directory for a Certified Bookkeeper near you. It’s a good idea to interview potential candidates to determine whether they will be a good fit. Your bookkeeper is going to be an integral member of your team! Mutual trust and respect are important.

https://www.icbnzbai.org.nz/Find-a-Bookkeeper

Ensures your creditors are up to date, which means your suppliers and customers will remain happy with your services— increasing your businesses reputation Ensures you keep on the right side of the ledger, helping your business thrive.

How do bookkeepers know right from wrong?

Bookkeepers who are members of ICNZB have many resources available to them to ensure your business is operating legally and compliantly. They are exposed to educational opportunities throughout the year to keep them up to date on legislative changes and requirements.

ICNZB Certified Bookkeepers also abide by a Code of Ethics, which protects the integrity of the Association, the profession, and the recipients of bookkeeping services.

Millars Plumbing & Drainlaying Otautau Ltd

Are looking for a Gasfitter and or Plumber with a current Practicing Licence. The successful applicant will have to have good communication skills and excellent knowledge of products and plumbing practices. Be able to work unsupervised, have the ability to problem solve, be honest & trustworthy. We service a large country area, involved in maintenance and new work, servicing commercial and domestic clients. We are a family plumbing business operating in Southland for over 32 years. We are located at the bottom of the South Island and are two hours’ drive from Queenstown—the adventure capital of NZ—an hour and a half from beautiful Fiordland and Te Anau, and twenty minutes from the beach at Riverton. If this sounds like you, check our business out on Facebook and apply today in writing with attached CV to millars.plumbing@xtra.co.nz Graeme 0274340705

The cost to place a classified advertisement is $60+GST for Master Plumbers members; $100+GST for non-members. Email advertising@masterplumbers.org.nz