The Unfortunate Reality
Here's what my life used to look like:Â
- 7am-4pm: On the tools
- 4pm-8pm: School pickup, dinner, gym (if Iâm lucky)
- 8pm-11:30pm: Wrestling with receipts, quotes and invoices.
What makes me even more depressed thinking about this today?
Mate, Youâre Not An Accountant
When you're doing your own books, youâre:Â
- Working double shifts
- Missing family time
- Making mistakes because you're exhausted
- Losing focus on the other aspects of your business.
Worst of all? You're probably not even doing it right.
Find Yourself A Bookkeeper
Most accounting firms have a full time bookkeeper. Find one. Theyâll handle all the boring stuff:
- Do all your bank reconciliations
- Organise receipts and invoices
- Manage tax and GST payments.
Some will even prepare quotes if you give them the right info.
Itâs Totally Worth It.
Here's the beauty of it: A professional bookkeeper will only cost you $100-300 per month.
Remember, they do this for a living. So they'll do in 3 hours what takes you 15.
Itâs a small price to pay to get your nights back.
Some practical tips:
- Find someone you trust to discuss financial matters with. Try out other bookkeepers if your current one isnât a good fit.
- Ideally, look for someone who understands the construction industry.
- If youâre on a tight budget, you can source super cheap overseas bookkeepers from sites like Upwork or remotestaff.com.au
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Stop pretending to be an accountant. Start being a builder/tradesmen again.
Thanks for reading!Â
Cheers,
Josh