Bookkeeping for Trade and Construction

Why is good bookkeeping so important to a tradie?

Cash Flow Management:  

Know who you need to pay and when 

Know who is due to pay you and when

GST compliance:

Be on top of filing your GST on time

No shock at time of GST payment

Increase Cash Flow into your Business:

On-time and professional client invoicing

Complete, transparent and accurate client invoicing

Lock in new Customers and Jobs:

Accurate, professional and transparent quotes

Clear tracking of quotes ensuring you stay on top of who has and who has not accepted quotes

Job Management:

Provide clarity to yourself and your clients around how jobs are tracking against time and budget

Time sheet management to ensure jobs are charged correctly and staff are paid

Discounts and margins are consistent across jobs and customers

Integration with Your Financial System

Ensure you financials are transferred seamlessly into your Financial System

Keep your accounts up to date for your accountant and complete for year end

Ability to report financials such as profit/loss, balance sheet, Cash Flow

Produce a 'snap shot' view of your business - very important in current times

Bank Reconciliation

Highlight incorrect payment errors

Send supplier remittances 

Record all cash transactions into your financials

Ensure cash transaction match system transactions e.g. a payment to a supplier is as per the invoice, a payment from a customer is as per your invoice

Stay on top of Cash Flow reporting leading to good financial decision making