Little Biz Wiz Limited is a bookkeeping business which was established in 2015. This business was established to relieve stress and reduce opportunity cost for its clients by improving efficiencies and communication within the organisations. By utilising modern accounting methods we are able to efficiently process the financial information and produce effective reports to provide accountability across all funding streams

Why Do You Need One?

If you started your own business, it’s likely that you’re passionate about running it and concentrating on the tasks you love doing. But if you’re like most business owners, you’re not so interested in recording all the details of every financial transaction.

For example, imagine you’re a hair salon business owner. You might have:
• a simple business model
• a high transaction rate with lots of customers
• many sales a day – perhaps dozens or more
• supplier invoices for hair products
• sales recorded through cash registers or other POS (point of sale) systems
• staff wages to record and pay.
That’s a lot of information to track and record. And bookkeeping might not be something you enjoy or have time to understand.
Without proper bookkeeping, it would be easy for transactions to go unrecorded, left to pile up until the end of a financial period. Mistakes could be made and important details could be lost or forgotten.
That’s where bookkeepers come in. They can lighten the load on the business. They can take away the day-to-day recording of receipts, invoices and other transactions.

What Do Can I Actually Do?

Bookkeepers are trained and use the same financial recording methods as accountants. They do this so that your accountant can quickly and easily process your financial information. They will:
1. Take all your receipts, invoices and other transaction details.
2. Record the information in accounting software using proper accounting methods.
3. Work with you to make sense of the numbers, for example assigning costs to specific clients.
They can also offer day-to-day support for small business owners. In fact a good bookkeeper is your partner in keeping things running smoothly within your business.

How Am I Different To An Accountant?

Bookkeeping is a vital service. But how does it differ from accounting? The two services are often compared, but actually they are complementary:
• Bookkeepers do the day-to-day work and bring the accounts up to a high standard of detail and accuracy. They can also advise you on issues that might affect you in the near future, such as cashflow problems or late invoice payment.
• Accountants will look at the accounts that have been created, often on a quarterly basis. They will make any minor adjustments required. They will use the information in the accounts to file tax returns and other official reports. They will also provide high level business advisory services.
For your business to run smoothly, ideally you need both people. You’d hire a bookkeeper to look after the day-to-day work. And you’d hire an accountant to handle official reporting and high level business advice.

LET’S WORK TOGETHER

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Little Biz Wiz Limited is a bookkeeping business which was established in 2015. This business was established to relieve stress and reduce opportunity cost for its clients by improving efficiencies and communication within the organisations. By utilising modern accounting methods we are able to efficiently process the financial information and produce effective reports to provide accountability across all funding streams

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