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  • #988768
    mobile hair design
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    • Total posts: 8
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    Hi there,
    I need some advice regarding a small business i have recently started. I am a sole trader doing mobile hairdressing. Ive been in the trade for 10 yrs always worked for someone else. Now im going out on my own. I have a steady clientele and as a mobile hairdresser overheads are very low.
    Can anyone advise on some basicb manual book keeping ? Im not registered for gst, and have expenses such as fuel, hair product, liability insurance. Im not sure how i go about recording invoices and also expenses.
    Cheers

    #1168792
    ecomodics
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    • Total posts: 22
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    Hi

    We use Xero which is a online accounting software. You can record your expenses (you can upload all your receipts like fuel, insurance etc) and raise invoices and it automates your reports eg profit loss and exports tax statements / reports to ATO. It links to your bank statement and uploads feeds, it has smarts installed so its takes less time for you to reconcile and do your finances.

    Cheers

    #1168793
    ShellysBookkeeping
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    • Total posts: 89
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    Xero is an easy to use online software that will handle all your needs. There are also several others eg MYOB or Quickbooks. These all operate on a subscription basis so have a look at their plans. You can also sign up for a free trial to check which option suits your business.
    If you plan to grow your business you will need to register for GST if you start earning more than 75k/yr. in this case I would definitely recommend one of the above software packages as it makes submitting your BAS easier.
    Contact me if you want additional information on the different accounting software options.
    Cheers Shelly

    #1168794
    ZoeGillard
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    • Total posts: 25
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    Live accounting software products are becoming much more popular and there are some, as the others have mentioned, that are very easy to use. I would definitely suggest that you look into these products as they will be very helpful should you require the help of an accounting firm going forward.

    This website might be of help to you whichever path you choose to take:
    http://www.business.gov.au/business-topics/tax-finance-insurance/business-finances/Pages/set-up-a-basic-bookkeeping-system.aspx

    Regards,
    Zoe

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