adventure tax

Bookkeeping for Small Business

Want bookkeeping for your small business? We can help.

Get Your Life Back

When you started your business, you probably didn’t imagine staying awake every night, scrolling through Xero to prepare invoices, mark expenses, and pay your employees. It’s like reading the Microsoft terms and conditions, out loud, for fun. 🙄

The procrastination is real.

What a drag… right? Bookkeeping is boring compared to being right in the action of your business: doing sales calls, helping your clients, testing ads, and running your ecommerce store.

It’s the last thing you want to do when your business is growing rapidly and you’re working 60+ hours a week.

But without bookkeeping, your small business won’t be able to function.

• Suppliers and staff need to be paid.
• Expenses need to be tracked and minimised.
• Customers payments need to be processed.
• Financial reports need to be prepared.
• And unfortunately, taxes need to be paid.

There’s good news! You don’t have to do all of this yourself. You can outsource your bookkeeping to us and get your life back. Save 3+ hours every week and invest it into your business (or better yet, go for that sauna session that you keep putting off).

Outsourced bookkeeping services can be a game-changer for your business. Let me show you how.

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A Simple, Repeatable System

Bookkeeping for small business is all about creating a simple, repeatable system.

Having a solid system will help your business level up. This is where most accountants go wrong. They just focus on tax, BAS, and take about 1-2 weeks to reply to your emails (isn’t it wonderful?).

Bookkeeping is where all your raw business data is. It shows your purchasing habits, core expenses, and main sales channels. You can then leverage this information to make your business more profitable.

Want to know which products are most profitable? Check your bookkeeping. Want to cut unnecessary expenses? Look at your bookkeeping.

By outsourcing your small business bookkeeping to specialists, you’ll spending less time on admin and more time on what really matters—running (and growing) your business.

Plus, you can rest easy knowing that your data is 100% accurate and always up-to-date.

Here’s what we recommend (you can either DIY or we offer DFY monthly packages):

1. Automate Your Bookkeeping: Set up automatic bank feeds through software like Xero. Add Stripe as a payment system. Set up bank rules and do cash coding for bulk reconciliations to save time.
2. Add App Integrations: Connect any apps relevant to your industry – like A2X for ecommerce, Hubdoc for bills, or Employment Hero for payroll. Don’t do admin work if an app can do it for you!
3. Categorise Transactions Weekly: Set aside a specific time each week to tag your income and expenses, like Monday afternoons at 3pm. Check your payables and invoices. Have your clients paid yet? Are your bills due?
4. Review Your Reports Regularly: Review your financial data each month to make sure every transaction is in the correct account. Otherwise you’ll get an incorrect picture of where your business is at. After your review, run a P&L and balance sheet report. Are your sales down? Are expenses high? Do some investigating before it becomes a problem. Check which products or services are bringing in the most money—then double down on them.
5. Identify issues: Do a review of your apps, payment services, bank feeds, and chart of accounts. Are there any issues with cash flow, budgets, or reporting?

Most accountants get their junior staff to handle the bookkeeping. But here at Adventure Tax – it’s one of our core services because we know how important it is to get it right.

Bookkeeping is the foundation of all financial and business decisions. That’s why we love it!

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Bookkeeping for Small Business: Common Mistakes

• Procrastination: Leave your bookkeeping for too long and it becomes a monster task (it gets more overwhelming by the day!)
• Mixing Business & Personal Finances: Keep them separate—trust me on this one. It’ll save you hours of untangling and protect you from company liability issues down the track. It also gives you a more accurate view of your business performance.
• Ignoring Cash Flow: Revenue and profit might look good on paper, but if there’s no cash in the bank, you’ve got a big problem. Revenue is vanity, profit is sanity, and cash is king.
• DIY Overload: When things get complex or time-consuming (like payroll or financial reporting), or if you’re a stressed, overwhelmed solopreneur—it’s time to call in the pros.

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Software or Spreadsheets?

Spreadsheets are great… until they aren’t.

If you’re growing fast or managing multiple income streams, bookkeeping software like Xero becomes a lifesaver. It syncs with your bank, automates invoices, and gives you financial reports with a click of a button​. Everything is automatically backed up and accessible on the cloud, 24/7, from anywhere in the world.

Plus, Xero exports data into spreadsheets, so you get the best of both worlds.

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When to Hire a Bookkeeper

Are you spending more time managing Xero, suppliers, and payroll than growing your business? Then it’s time to outsource.

A bookkeeper can handle the daily grind, keep your records up-to-date, and make sure everything’s ready for tax season.

Then, you can work with a virtual CFO to give you accurate financial insights to help you raise capital, improve cash flow, reduce your expenses, and expand your business offering.

Here’s when you know it’s time to outsource your bookkeeping:

• Your business is growing, and things are getting complicated and stressful.
• You have low cash reserves in the bank despite making decent profits and high revenues.
• Your expenses are getting out of control.
• You want to expand but don’t have the resources to do so.
• You’re time poor, stressed, and are falling behind on bookkeeping and financial management.
• You find yourself avoiding bookkeeping tasks until the very last minute.
• Your accountant gives you that look when you hand over your paperwork.
• You dread seeing your accountant at the end of each year.
• You’re paying high accounting fees that cover catch-up bookkeeping ($10k+ per year).

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The Power of Bookkeeping

Look, let’s be real here. Bookkeeping isn’t glamourous. When I tell people what I do, most people look at me weirdly and say “You’re an accountant? But it’s so boring!”

Bookkeeping isn’t going to win any awards for fun. But it’s one of the most important things you can do to run a successful business. Getting a system in place—whether through software, a bookkeeper, or a mix of both—means you’ll spend less time stressing over receipts and more time doing what you love.

And that’s what it’s all about, right? A business that runs smoothly, with your books in order and your time freed up.

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We keep things simple—with no hidden fees or surprise charges. We’ll provide a fixed custom quote for your business, so that you’re only paying for what you need. Our Xero Bookkeeping Plans range from $400-1,000 USD / month.

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Why Xero?

Our Xero bookkeeping helps you take control of your business:

• Cloud Convenience: Manage your books anytime, anywhere (and they’re automatically backed up)
• Real-Time Financials: Get an instant view of your cash flow and profitability anytime you need.
• Integration with Other Tools: Connect Xero with over 1,000 apps (like Shopify or Stripe).
• Simple & Easy to Use: It’s much simpler than MYOB and Quickbooks, with loads more functionality.

We handle the setup, integration, and ongoing management of your Xero file and bookkeeping so that you can focus on doing what you love.

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Ready to Hire a Xero Bookkeeper?

Save time and reduce stress with outsourced bookkeeping—let us handle the admin work for you (because we really do love it!). Get in touch today for a free consultation and to find out more about our outsourced bookkeeping and virtual CFO services.

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