(Australia-NewsWire.Com, May 30, 2013 ) Brisbane, Australia -- With small and medium businesses facing the challenge of keeping on top of their finances, JBpartners.com.au helps them realise the value of bookkeeping.
Many business owners do not understand the importance of a bookkeeping service for their business. That’s why Brisbane bookkeeping firm JB Partners is providing some answers on what bookkeeping is and why is it so important to integrate into small and medium business operations.
By definition, bookkeeping is the process of recording an individual’s or a company’s financial transactions. It is, in essence, the first basic step of a more complex accounting process.
The accounting process rests on successful and diligent bookkeeping. Accounting involves classifying, reporting and analysing data, none of which can take place if there is no organised and accurate bookkeeping.
As a leading bookkeeper in Brisbane, JB Partners says there are fivetop reasons why bookkeeping is vital to the health and life of any business. First, it provides better financial analysis and management. Secondly, it ensures the proper fulfilment of tax obligations.
“As well as meeting your responsibilities to the ATO, businesses should also make use of the breaks afforded them to keep their business financials strong. That’s where a bookkeeping professional comes in. Some deductions are not well known so a bookkeeping professional should be consulted to ensure a company is able to seize all their deduction opportunities,” said the expert.
Bookkeeping also makes the process of reporting to investors easier. And it makes future business planning simpler, as the business can easily see their profits in order to project growth. Finally, bookkeeping provides proper record keeping as required by law.
“The importance of bookkeeping cannot be emphasised enough. From business planning to proper record keeping for tax and legal reasons, there are a number of reasons why a business should engage a bookkeeper,” said the spokesperson.
“Accurate records will not only assist you in financial decision making but will also ensure easier access to outside financing for your business if necessary. And no lender is likely to grant a loan without quality financial statements.”
For small and medium businesses looking for bookkeeping in Brisbane, JB Partners can assist with expert services and advice. With over 15 years of bookkeeping experience, the professionals offer a full range of bookkeeping services, applying their experience and knowledge in order to produce great results at competitive rates.
For more information, visit jbpartners.com.au
About JB Partners:
With over 15 years bookkeeping experience, JB Partners (http://jbpartners.com.au/) provides a full range of bookkeeping services for small and medium businesses in Brisbane at competitive rates.