The Tech Stack

I firmly believe that properly using technology can make your life better. Implementing a tech stack into your business will save you time and provide you with the resources you need to effortlessly manage your business.

Xero is the heart of your business and the keeper of finances - your online accounting software. From importing bank transactions to sending invoice reminders, Xero’s ecosystem of features and apps automatically handles tasks so you can get your accounting done faster.

Every business has unique needs and you should never be limited by your software. Xero beautifuly integrates with a ton of great software to help completely automate your business. The App Marketplace is a great place to start - Click Bookkeeping can build a Tech Stack that is suited to your business and your Work Flow.

What does a bookkeeper do for you?

A bookkeeper tracks and records all of your business income and expenses. All of this data is carefully labeled to provide you with an accurate picture of where you are spending your money and how you are getting paid.

At the end of the day a bookkeeper will help you get through an audit by making sure your records are accurate and that you are staying compliant with your deceptions.

Typically bookkeepers are responsible for preparing four key financial statements:

• Profit & Loss, which shows your revenue and your expenses over a specified time period

• Balance sheet, which is just a snapshot of your financial position at one point in time

• Cash flow statement, which is a record of the cash and cash-like hard equivalents entering and leaving your company

• Statement of changes in equity (also called a statement of total recognized gains and losses) which shows how your share capital, reserves, and retained earnings have changed in a reporting period

Some other important things they can do to help your business run like a well-oiled machine:

• Tag and monitor your fixed assets

• Collect and remit sales tax to the government

• Pay any supplier or contractor invoices

• Monitor debt levels and apply payment to any debt as it comes up for payment

• Record incoming cash and deposits at the bank

• Reconcile accounts every month

• Issue financial statements

• Equip your accountant with accurate financial statements come tax time

• Maintain your annual budget

• Report on issues and variances when they pop up

• Process payroll