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MYOB Bookkeeping Hazards

There’s a number of MYOB bookkeeping hazards that commonly occur when I come across new Mandurah bookkeeping clients.


Having an inaccurate set of bookkeeping records can create some challenges down the track.


As a result there’s some Mandurah small business owners that discovered their bookkeeping has become a nightmare for a number of reasons.



1. Doing the Bookwork Yourself

Any successful business owner will tell you that if you don’t have the skills or the passion to carry out certain tasks in your business, then you shouldn’t be doing them. One of these areas is the bookkeeping.


It’s totally unproductive to be getting frustrated and stressed out, when you can outsource your bookkeeping to a professional bookkeeper.



2. Inexperienced Bookkeeper

An inexperienced bookkeeper can quickly become a liability in your business though making innocent errors, taking more time than is necessary, or simply not having the expertise.


You can quickly come unstuck because a well-meaning friend or relative has offered to do our bookwork at mate’s rates or even for free.


Even some professional bookkeepers just do not have the experience or expertise to be let loose on your accounts. They may be recently qualified and tell you that theres new legislation requiring bookkeepers to become registered BAS Agents before they can lodge your Business Activity Statements.


Before engaging a freelance bookkeeper ask them how many clients they have and how long they’ve been freelancing.



3. Incorrect MYOB Set-Up

MYOB software is not simply plug-and-play so that simply installing it into your computer will not mean you are ready to do your bookkeeping. You’ll need to ensure that the chart of accounts are correctly set up, and all the tax codes are correct for your specific business. Failure to do that can result in you paying the Australian Taxation Office (ATO) more than is necessary.


Contact Me Today for a bookkeeping health check