Home / Business / Articles / Keep records and understand what they mean

Record keeping is not done just to keep the ATO happy. If done properly it will give you the information necessary to run your business successfully. Accounting programs such as MYOB or Xero are ideal for small businesses, but if records are not your thing you should consider engaging a bookkeeper for a few hours each month. Keeping records on a timely basis will assist in collecting money from customers and understanding your expenses.

We recommend that you also talk to your accountant about devising some key performance indicators and preparing a cash flow budget. These will give you the tools necessary to monitor performance and plan ahead. Your accountant will also be able to help interpret the results from the records and show you what to look out for.

Business Guide - Top 10 tips for a new business


Helen Boucher

New to Saward Dawson? Book a free 30 minute consultation

We happily spend 30 minutes without charge with new contacts to explore relevant issues and outline how we can assist. Let us know your area of interest and we will arrange a specialist to meet with you.

Subscribe to e-bulletins

Subscribe Now

Stay Connected