You do not need to become an accountant — but understanding the basics of your own books changes how well you run the business and how honestly anyone can advise you.
The five records that matter
- Sales register: every invoice, numbered and dated — the base for GST and income both
- Purchase/expense register: every cost with its document
- Bank reconciliation: your books’ balance vs the bank statement, explained monthly
- Receivables ageing: who owes you, and for how long
- Payables list: whom you owe, and when it falls due
Habits that keep books honest
- Separate bank account for business — mixing personal and business spending corrupts everything downstream
- Record weekly, not “at year end”
- Keep every document — digital photos are acceptable evidence in most contexts
When to hand it over
The moment bookkeeping competes with selling for your time, outsourcing wins — professional monthly books cost less than the errors and missed credits of neglected ones.
See our bookkeeping service · get a fixed monthly quote.
