Management Reporting | Bookit Bookkeeping

3 Ways Bookkeeping is More Than Just Data Entry

in: Bookkeeping

In the past, the role of bookkeeper revolved around a lot of time-consuming data entry. Fast forward to now, and a lot has changed! While the basic principles of bookkeeping remain the same, and have done for centuries, the role of bookkeepers has evolved.

Bookkeepers today are a lot more than data-entry operators – they have technical expertise, offer a range of services and are more qualified. A professional bookkeeper can help you grow your business, and save time and money.

Here’s how.

  1. Bookkeepers are tech-savvy

These days, there is a lot of new and advanced technology used in bookkeeping. This means modern bookkeeping services need to be very tech-savvy.

At Bookit for example we use around 90 different software programs. These include XERO, MYOB, Shopify, Deputy and LEAP to name a few. We need to be able to wrangle all of these for our clients – which means we need to have a lot of up-to-date technical knowledge and understanding!

  1. Bookkeepers offer varied services

Software advancements have freed up a lot of the time that might have previously been spent entering data into books or older-style programs.

This means today’s bookkeepers can offer a lot more services than before – and are frequently expected to. Examples might include helping clients to:

  • Save costs and/or improve cash flows
  • Improve recording processes
  • Keep up with compliance obligations
  • Deal with the tax office, and
  • Make better financial decisions.

As a client, this means you have the option of a “mini-accountant” to keep you on track all through the year – which could end up saving you a lot on accountancy costs at EOFY!

Bookkeepers often need to understand a wide range of industries and different business types. For example, at Bookit, we specialise in franchises and legal and trust accounting, but we also provide services for many other types of businesses. We take the time to fully understand the businesses of all our clients – whether it fits into retail, hospitality, healthcare or another category altogether.

  1. Bookkeeps are qualified professionals

Bookkeeping has become more recognised as a professional service, and bookkeepers today are usually expected to at least have a Cert IV qualification. In fact, this is a requirement for a bookkeeper to become a registered BAS Agent.

To work as a BAS Agent, a bookkeeper also needs to have relevant experience, liability insurance, and to belong to a professional association. Getting to this point requires a lot more skill than just data entry!

Partner with the tech-savvy professionals

As you can see, bookkeeping is a professional service that can help keep you on track throughout the year, and save you time and money in the end. Get in contact with our team to find out what we can offer you at Bookit.

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