Bookkeeping Case Study #2

Bringing Overdue Books Up To Date

There are many small business owners who are worried that their book work is in such a state of neglect that it cannot be recovered and brought up to date. Many are also just embarrassed that they have let their books get into such a state.

The fact is that many business owners have been so busy keeping the business running and/or helping it grow that they have not had time to keep an eye on the book work. When this realisation comes it is time to contact a bookkeeper.

One Nifty Bookkeeping client is a good example of this situation. He is a self employed builder. He had neglected his book work for over three years and new that he would have to eventually clear up his tax obligations.

He contacted Nifty Bookkeeping and said that he wanted everything caught up to date so that he could put it behind him and move on. He had most of his receipts and documents kept from over the years.

He brought his paperwork to Nifty Bookkeeping's office in Beaconsfield and a staff member went through what he had and identified any missing documents. About a year's worth of bank statements were missing.

The statements were ordered from the bank and the book work was commenced while waiting for the statements to arrive. Once they arrived the bookkeeping was completed. The client did not have an accountant. The staff member was able to recommend one from the many accountants that Nifty Bookkeeping has dealings with.

Once everything was finalised the client made arrangements with the ATO to pay off his obligations. This was a great relief for the client and he was able to move confidently in to the future knowing there was no need to get into the same state again.

He now simply sends his bank statements and receipts to Nifty Bookkeeping once a month. Once the book work is done it is sent to the client's new accountant. The client can now concentrate on his own business.