Here at EOMA, we have a few sayings we live by.
“Til chocolate and charcuterie boards do we part”.
“Backup everything”
“Drink coffee, always”
and our latest…
“When in doubt, engage the professionals”.
Some of the most productive and successful businesses we have seen are the ones that look after the key growth elements of their business. And outsource the rest.
Why?
So they are not dwindling their precious hours of the day on tasks that could be completed elsewhere.
Sure, it is important to keep across all aspects of your business, but completing the day-to-day tasks that come with running a business can sap your time.
One of these tasks is your books.
Now, would you hand your family finances over to just anyone? Bob down the road?
Neither would we.
So why should your business be any different?
The real estate business is a very specific industry. There are ins and outs with the industry that only a professional who deals with the industry day-in-day out will understand.
So, let’s chat about why it’s so important to use a specialised Real Estate Bookkeeper and a Registered BAS Agent for your business.
Using a Real Estate Bookkeeper and BAS Agent
A specialised real estate bookkeeper can handle the unique financial needs of the real estate industry.
From the small things like ensuring the data from your Trust Software is recorded correctly in your general software.
They understand industry-specific terminologies and have expertise in day-to-day bookkeeping tasks, as well as understanding the intricacies of salaries for agents.
They can provide accurate records, streamline business operations, and ensure compliance with tax laws.
They also offer advanced financial services such as reporting and analysis, helping businesses grow and make informed financial decisions.
They know their stuff.
Take our bodyguard here for example.
We see your business in the same vein that this guy sees the VIP in his town car.
We would put our bodies on the line to protect your business to ensure your Trust Account is in the very best of hands.
That your books are as clean and tidy as a vacant rental just put on the market.
A final piece of advice
It’s also extremely important to ensure anyone touching your accounts who DO NOT work for you as an employee is licenced to do the work.
The Tax Practitioners Board (TPB) is the registering authority in Australia. So make sure anyone performing work for you is registered so you know you are getting someone qualified.
If you are thinking of outsourcing your bookkeeping, get in touch with our fabulous bookkeeping team to discuss our Outsourced Real Estate Bookkeeping options.
Then you too can be like the guy in the town car.
Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 27 years’ industry experience. Don’t trust just anyone with your trust accounting. Book an appointment with an End of Month Angel today.