Good bookkeeping is the foundation of any successful business, but it’s more than just balancing the books. For Australian business owners, building a strong working relationship with your bookkeeper and staying on top of important details can make a real difference. Here are some handy tips to help you get the most from your bookkeeping services and keep your finances in top shape.

1. Check Your MyGov Account Regularly
   The Australian Tax Office (ATO) often drops essential information straight into MyGov accounts, sometimes without notifying your tax agent. This means you could miss out on critical updates—anything from tax obligations to new government support. Make it a habit to check your MyGov account weekly, especially during tax time or when new policies are announced. Staying on top of this information helps you and your bookkeeper stay aligned.
2. Keep Your Records Complete and Up to Date
   A bookkeeper’s work is only as accurate as the information they receive, so be sure to keep your records current. Sending over invoices, receipts, bank statements, and payroll details regularly will help your bookkeeper keep everything organised. Timely records also mean your bookkeeper can spot potential issues early and help you save both time and money.
3. Embrace Cloud-Based Platforms and Digital Tools
   Cloud-based accounting platforms like Xero, MYOB, or QuickBooks are changing the game in bookkeeping. They make tracking your finances easier, and because they update in real-time, you and your bookkeeper can stay on the same page. Ask your bookkeeper about digital tools they recommend to help improve efficiency and streamline your financial records.
4. Book Regular Check-Ins with Your Bookkeeper
   Regular check-ins—whether they’re monthly, quarterly, or even weekly—are a good way to review reports, plan for any upcoming tax obligations, and discuss your financial goals. These meetings also give you the chance to ask questions and pick up insights that can help your business grow. Being proactive in these discussions can pay off over time.
5. Tap into Your Bookkeeper’s Business Knowledge
   Bookkeepers do much more than number-crunching. They can offer insights into cash flow, help manage expenses, and provide advice on increasing profitability. Don’t hesitate to tap into their expertise for insights into budgeting, planning, or improving your business’s bottom line.

Working closely with your bookkeeper is one of the best ways to keep your business finances organised and on track. By following these tips—checking your MyGov account, providing up-to-date records, using digital tools, booking regular check-ins, and seeking their advice—you’ll be able to maximise the value of your bookkeeping services. At Supervision Group, we’re here to help businesses succeed by providing expert bookkeeping and financial advice, so you’re ready for whatever comes next.