If you needed to travel to New Zealand, would you fly the plane yourself? If you had a toothache, would you pull or fill your own teeth? If you needed to fix a toilet, would you avoid using a plumber to save money?
If you want a genuinely successful business that pays you a high wage, meets all your other business needs and can grow (or just run) on autopilot, use specialists in their field to work in your business, and invest your scarce & valuable time into working on and building your business.
Think of any and every highly successful business owner in your own circles and/or that you aspire to, and it's a guarantee they don't spend their precious time doing their own bookkeeping or BAS, or spend time keeping on top of accounting software or ATO updates.
There are countless small business owners since the introduction of A New Tax System (Goods and Services Tax) Act 1999 (Cth) who'd wished they had invested in a good BAS Agent, Bookkeeper or Accountant years earlier than they did. They were chasing cheap solutions and, ultimately, 97% of the time this is simply a false economy.
It is actually unlawful for an external party to provide BAS Services for a fee unless they are a Registered BAS Agent (or Registered Tax Agent) approved by the federal government's Tax Practitioners Board (the TPB). BAS Services include (but are not limited to) advising on, completing or lodging a BAS, performing payroll involving Single Touch Payroll (STP) or advising on your SG Superannuation obligations. You should be very, very wary of any party who offers to carry out these services for you when not registered and, thus, begin an engagement on the non-compliant side of the ATO & TPB.
Aside from TPB registration issues, thanks to the large size and heavy promotional activities of accounting software providers, many 'bookkeepers' are less well-versed in accounting theory and more specialist in software and app setup and operation. Now don't get me wrong, this is nowhere near as bad as the first 'must' and technological developments are only taking the industry in one direction, but it's important to remember that every accounting software package is built on top of the same accounting foundations developed in the 15th century, and unless your bookkeeper has strong qualifications in accounting theory & applied analysis techniques, then you may be missing out.
As mentioned earlier, in regard to using specialists in their field (like pilots to fly you to NZ), it's important that you don't rush to judgement if you first balk at the price of bookkeeping. It always seems cheaper to 'just DIY it' and save the money. But this is often a false economy. For example, before cancelling hte idea of getting a bookkeeper due to the costs, have you ever considered how much time you'll save not doing it yourself, and then multiplying that time by how much extra you could earn if instead you spent that time on winning & servicing clients? Have you considered much more it will cost if you make mistakes in the DIY effort, and then end up having to paying someone not only to do the work in the first place, but also find and fix all your own mistakes? Think less about the cost, and more about the value. If this value is greater than that cost, then it's time to get a bookkeeper.
>
If you want to DIY Bookkeeping, then just become a Software-only client of Tracy & Associates Accounting.
You can take advantage of discount pricing based on our QuickBooks Online ProAdvisor and Xero Partner status.
Choose from 1 of the 6 retail plans below, offered by QuickBooks Online and Xero, and secure a permanent discount.
Optional Extras
Expenses: Get Expenses free for 2 months when you add it to your plan. $5 for 1 user/month + $5 for each additional active user/month after that.
Projects: Get Projects free for 2 months when you add it to your plan. $10 for 1 user/month + $7 for each additional active user/month after that.
Optional Extras
Expenses: Get Expenses free for 2 months when you add it to your plan. $5 for 1 user/month + $5 for each additional active user/month after that.
Projects: Get Projects free for 2 months when you add it to your plan. $10 for 1 user/month + $7 for each additional active user/month after that.
* Payroll: $2 per person after 5 people. Max 200 people.
Optional Extras
Expenses: Get Expenses free for 2 months when you add it to your plan. $5 for 1 user/month + $5 for each additional active user/month after that.
Projects: Get Projects free for 2 months when you add it to your plan. $10 for 1 user/month + $7 for each additional active user/month after that.
Business services are activities that combine or consolidate certain
enterprise-wide needed support services
While there are big ambitions and plans, at the moment Tracy & Associates Accounting is just a one-man-band. Axel happily refers to his present 'Associates' as being his two French Bulldogs, Audrey & Koji! But seriously, if you want to know more about Axel and his background, check out his profile below.
You'll also find the Partners & Accreditations of Tracy & Associates listed below, as well a few Testimonials.
Axel is a small businessman who combines technical accounting expertise with technological savvy, and is backed more than a decade of eBusiness experience. Axel graduated with Distinction with an accounting major Bachelors degree, is a Xero Partner, a Certified QuickBooks Online (Advanced) ProAdvisor, a voting member of the Australian Bookkeepers Association, an Associate of the Institute of Public Accountants (AIPA AFA)
…and loves to help people with their accounting, finance and technology problems & issues.
He was born and raised in Sydney and has lived in Dublin and Armidale, before now settling in Canberra.
His early career was nothing exceptional, and this drove him to attend the University of Technology Sydney (UTS) as a mature-age student. He excelled at his studies, won awards and scholarships in his undergraduate degree, and ended up working for both UTS and the University of New England (UNE) as an Accounting PASS Leader and Casual Academic. Beyond a Bachelor of Business (major: Accounting, sub-major: IT), Axel has a Graduate Certificate in Financial Planning, passed the CFA Level 1 Exam and is RG146 compliant in 8x General & Specialist Areas.
Since his teenage years Axel has had an entrepreneurial spirit, and while not everything was a success, he achieved his greatest success as an accounting education author & publisher. He has sold $10,000s worth of accounting books, and has over 5,000 YouTube subscribers on his accounting & finance tutorial channel.
Over the last few years, Axel has settled down into a Canberra lifestyle with his partner, and their dogs Audrey & Koji. As a result, he is now aiming towards building a legacy around a long-term sustainable accounting practice & accounting software consultancy.
Tracy & Associates Accounting is headed by a legally 'qualified accountant', is accredited with TPB registration and partners with leading cloud accounting providers and recognised professional associations.
This is all done so you can be assured that your engaging a professional firm with the high standards, that's covered by insurance, and keeps up to date with the latest professional, regulatory and technology updates & changes.
Find our latest Articles below
or open the Full Blog on our sub-domain via the link above.
Business Hours: Monday to Friday: 9.00am to 5.00pm (SYD/CBR/MEL Time)
But because we're a small business like you, then you'd know that there's always some flexibility when it comes to keeping clients happy
or bringing new ones on board.
