Does this sound like you?
Don’t mind doing the daily or weekly transactions, but not GST Tax returns? Need time to grow your business, so looking to outsource some accounts work? We can help with your financials, so you have more time to focus on other areas of your business or social time in your calendar.
Matt is a barber, with a Barbershop business located near the Cuba Mall, Wellington.
Matt has one staff member, Lance, who has almost completed his barber apprenticeship. Trade is good, there is plenty of foot traffic outside his store being Cuba Mall. Now he is considering opening another barber shop over in Thornton, near where his partner works.
Lance is well regarded by regular clients now and he has indicated to Matt he is willing to help manage the Cuba Mall barbershop business, whilst Matt starts up the new barbershop in Thornton.
Matt is pretty account savvy and quite comfortable with processing the weekly accounting transactions for his books, but still, engages a bookkeeping business to oversee his Xero Cashflow books. Because Xero is cloud based, they can easily go online into his accounts and review them remotely. At GST filing time every two months, they check in and make any corrections needed. The tax returns are filed for him and his bookkeeper sends an update of work done and advice of any amounts due to Inland Revenue.
At financial year end, his bookkeeper will also process both business and personal tax returns too.
Matt can control user access to his Xero business accounts, and currently, he has it set up for Lance to access the payroll portal only and enter his own time-sheet hours in there. That means Matt can just check in weekly and approve Lance’s hours before payroll processing.
Later in the year, when Matt hopefully opens his second store, he’ll ask his bookkeeper to set up tracking in Xero too, so he can see how each store is doing. Xero can handle this with a tracking option to transactions for either certain clients or locations/stores. He’ll be able to see how Lance is doing in managing sales in his original store.
Matt reckons life is for living, and after a long week on his feet cutting, supervising Lance and maintaining the barbershop – he just wants to chill with his partner in the evenings. And Sundays. They often head out to local bars or cafes with friends. Or take out their surfboards after work if the waves are right. He enjoys balancing his life with time to play, against his hard work on his business.
Does this sound like you?
Don’t mind doing the daily or weekly transactions, but not keen on doing much more, or the tax returns? Need time to grow your business? Yearn for more social time for family and friends?
Do The Sums Book Keeping and More can help. We are happy to fit in with your bookkeeping needs and do as little or as much as you require. Contact us today, and discuss bookkeeping options for your business. Outsource your business tax filing returns, and focus on growing your business. Create some balance in your life and make some time for hanging out with your mates or family.