When it comes to book keeping, everyone hates it, unless of course you ARE a book keeper. The marketing, sales and being the face of your business is the most important thing to you as an entrepreneur and that is fine, but unless you have the skills to remain hidden and under the radar from the taxman [like me] book keeping is essential.
For start ups I recommend using a cloud based tool such as Xero or Saasu to help you out with your books. You can connect and share this directly with your accountant and you just need to punch in a few numbers once a week and let your accountant take care of the rest for you.
Outsourcing your book keeping does not have to be expensive either, yes it may cost you a certain amount for a good one, maybe around $30 an hour for a few hours work – but in the long run, by working with a reputable book keeper it keeps you from getting a nasty bill that you will need to pay to the tax department at BAS time.
Oh, and you should keep to a schedule, don’t put it off -always do the consolidation of everything for your book keeper at the same time each week or month. It will become habit and you will be much more efficient.
I’m keeping track of the Facebook and Twitter feeds Ninja style. Keep the conversations going. Look forward to kicking it with you next time.
SUN [Start Up Ninja]