Bookkeeping Services

Residential & Commercial Bookkeeping in Canberra

Punctual & Accurate Bookkeeping Services

At Figures Right, Pamela offers professional bookkeeping services for individuals and businesses throughout Canberra. She works with multiple cost-based and location projects, as well as total hour budgeted projects requiring weekly or monthly cost analysis. Additionally, she works with multiple add-on apps that assist with keeping a more detailed track of transactions if required.

Pamela's abilities in account reconciliation help to ensure you always have balanced accounts. This is essential for your business when producing reports for evaluation of current financial business health. She takes great care to ensure accuracy and punctuality when undertaking data entry services for all types of clients, from residential clients to small businesses and large corporations.

Get in touch on 0418 633 907 for bookkeeping service enquiries. Offering free one-hour initial consultations.

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How a Bookkeeper Can Help

Bookkeepers play a vital role in managing financial records for individuals and businesses. Their responsibilities revolve around accurately recording financial transactions, including purchases, sales, receipts and payments, into accounting systems or ledgers. By meticulously maintaining these records, bookkeepers help to ensure the financial health and stability of their clients.

In addition to data entry, bookkeepers reconcile discrepancies and verify entries to guarantee accuracy. They organise and categorise financial information, making it easily accessible for analysis and reporting purposes. Bookkeepers also generate financial reports, such as balance sheets, income statements and cash flow statements, which provide crucial insights into the financial performance of the entity.

Moreover, bookkeepers may handle payroll processing, ensuring that employees are paid accurately and on time. They may additionally manage invoicing and accounts receivable, making sure that payments are collected promptly.

In short, bookkeepers are indispensable in facilitating informed financial decision-making and maintaining the financial integrity of individuals and businesses.

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Why Partner With a Bookkeeper?

Partnering with a bookkeeper yields numerous advantages for individuals and businesses alike. For individuals, a bookkeeper offers invaluable support in managing personal finances. They ensure accuracy in financial records, facilitate timely bill payments and optimise tax filings, alleviating stress and providing peace of mind. Moreover, bookkeepers often offer personalised financial advice, helping individuals plan for the future, save for goals and navigate complex financial situations.

There are equally as many benefits for businesses. Bookkeepers bring expertise in financial management, allowing businesses to maintain accurate records, track expenses and comply with regulatory requirements. This not only saves time but also reduces the risk of errors and penalties. Furthermore, bookkeepers provide insights into the company's financial health, enabling informed decision-making and strategic planning. By identifying areas for cost reduction or revenue enhancement, they contribute to the company's growth and success.

Overall, partnering with a bookkeeper facilitates financial organisation, efficiency and informed decision-making for individuals and businesses.

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Frequently Asked Questions

Is bookkeeping and accounting one and the same concept?

Not quite. Although there might be some overlap in certain cases, it is important to know that accounts and bookkeepers might work together, but their expertise and skill sets are not exactly the same.

Bookkeepers take care of the business’s daily financial recordings, performing quality checks as well. On the other hand, accounting encompasses analysing, reporting and summarising the information that they receive from bookkeepers. Their reports provide snapshots of how businesses are performing financially, as well as which portion of tax they are liable for.

Therefore, both a bookkeeper and an accountant can help you reach financial goals – see them as a team in tandem with providing important data that inform key business financial decisions, as is the case with yearly financial reports and tax returns.
How much do bookkeeping services cost?

Due to the varying complexities of businesses and their requirements, it is impossible to put a definitive number on the overall cost of bookkeeping services. For example, a sole trader’s bookkeeping needs will differ greatly from a retailer that pays staff.

We offer a complimentary one-hour consultation to discuss your business needs and identify ways we can help you to grow your business. Once we have a strong understanding of your business and expectations, we can discuss a package that suits.
What is the difference between a Profit & Loss (P&L) and balance sheet?

The profit and loss reports:
Income – Direct Costs = Gross Profit – Expenses = Net Profit

The Balance Sheet reports:
Assets – Liabilities = Equity