Bookkeeping “packages” from retailers. Are you really getting a bang for your buck?

Recently one large retailer in Australia has started advertising bookkeeping “packages’ for sole traders. These packages allow, for example, a sole trader to purchase in advance a package which includes bookkeeping services, BAS lodgement, and even a “company tax return” (which is not applicable to sole traders!) and may look at first glance like a good deal.

But are you really getting bang for your buck?

There are a number of problems with this approach to buying bookkeeping services and if you’re not careful you may think you’re paying for a 5-star hotel but end up sleeping in the back seat of a car.

Your business is unique

A good bookkeeper gets to know you and your business. A really good bookkeeper will ask a lot of questions so they understand you, your business and your bookkeeping requirements.

Good working relationships are key to success

Just as importantly, you will want to get to know your bookkeeper because it’s important to have a good working relationship with the person you rely on to help you with your accounts. You want to know that the person on the other end of the phone has the experience you need and can communicate effectively with your customers and suppliers on your behalf.

Bookkeeping is not a “one-size-fits-all” service

An off-the-shelf package provides a one-size-fits-all service. It does not provide you with a personalised service and there is no guarantee that the experience of the person who is actually processing your accounts matches your needs.

Think carefully before you commit to a package. Don’t end up wishing you’d paid that little bit extra for a good night’s sleep.

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