Bookkeepers and Accountants must be friends

Paddy — Fri, 27 Apr 2012 16:47:47 +0000

Bookkeepers and accountants working together

We’re often asked about the bookkeeper accountant relationship. Generally we see the two offering different services and by working together the client gets the best of both worlds.

Australian based Toni McCulloch from Accounting North (left) and Briohny de Vere of Bees Knees Bookkeeping are a case in point that collaboration works.

For Toni the best outcome is achieved when the incoming information her accounting practice receives is accurate and fully reconciled. “This gives us the scope to focus on the real issues at hand for the clients such as growth of the business, profit and cashflow,” she says.

Taking the bookkeeper perspective, Briohny says: “Whenever I get an accountant to review work for end-of-year, I always ask for feedback (yes positive and negative). Having an open relationship between the accountant, bookkeeper and client makes everyone’s life easier”.

How it can work

To explain how the bookkeeper accountant relationship can work, Melanie Morris of Bookkeeping and Beyond Ltd offers this overview:

Generally day-to-day accounts functions can be undertaken by bookkeeper at a more cost effective rate than accountant such as Accounts Payable, Accounts Receivable, GST/ BAS returns.
Bookkeepers can notify and defer to an accountant on tricky transactions that require a higher level of expertise and which may have tax implications.
Accountants have a better understanding of the tax returns and get the best outcome for clients in terms of company set up, large purchases and depreciation.
Bookkeepers will bring any issues to the accountant throughout the year rather than wait until year-end.
The year-end work (undertaken by the accountant) should be more streamlined if accounts have been prepared by a good bookkeeper rather than someone without specialist knowledge in this area.
Accountants can outsource their overflow accounts work to a bookkeeper.
If the bookkeeper is taking care of the day-to-day accounts and base compliance, the accountant’s time is freed up to undertake the trusted financial advisor role by working with the client on business growth, strategic planning and cashflow budgeting.

We’d love to hear how you’ve found the bookkeeper accountant relationship – as a client or as one of these professionals. What works and what doesn’t?

D4 Network Group Up and Running

Paddy — Tue, 24 Apr 2012 20:56:47 +0000

D4 Network Group now up and running. Great turnout for first meeting at the Grand Canal Hotel.

Slots are filling fast with 12 small business owners already committed.

The next meetings are set for 8th and 22nd May.

If you are interested please contact me quickly

Revenue now accept scanned invoices and receipts

Paddy — Mon, 23 Apr 2012 19:06:45 +0000

Does the Irish Revenue accept scanned receipts and invoices? Yes!

At GAHAN & Co, we’re often asked whether taxation authorities around the globe accept scanned receipts, invoices and vouchers as proof of transaction. Increasingly this is the case, so going digital is a viable option!

Now we’re going to focus on what the Irish Revenue have to say on the matter.

- It is now no longer a requirement to retain the paper originals of any third party record where an electronic copy of the original record is generated, recorded and stored in accordance with the information technology and procedural requirements as published.

- Addition of a requirement that all electronic copies of records must be accessible to a Revenue official in paper or electronic form, the method and format of delivery to be specified by the Revenue official at the time the records are being requested.

- You can print from the electronic copy if required.

If you’d like to look over the exact text, please follow this link to the Revenue document.

”This is National Cloud Week”

Paddy — Mon, 23 Apr 2012 18:41:26 +0000

Microsoft’s first National Cloud Week event has begun, with several joint ventures between the software giant, their partners and academic institutions scheduled to take place.

Monday 23 April will focus on the progression of cloud computing in Ireland, while the programme of events for Tuesday will include discussions on public sector transformation and demonstrate efficiencies that can be achieved through cloud computing.

On Wednesday, Irish students will demonstrate their cloud based solutions in the Irish Imagine Cup finals while there will be a focus on education throughout the morning. In the afternoon, a conference on to cloud computing and commerce will be held at Dublin City University. This will be one of the key events of the week with over 15 speakers from the world of business leaders and experts on cloud computing. Speakers include Paul Rellis, managing director, Microsoft Ireland; Colm Lyon, CEO, Realex; Mark Kellett, CEO, Magnet Networks; and Ireland’s newest ‘dragon’ Sean O’Sullivan.

Day four of the event will concentrate on the non-profit sector and include some of the advances it has made with the use of cloud computing.

On Friday, special attention will be paid to the business community and the role that cloud can play in supporting flexibility and efficiency in the workplace.

Cut Your Accounting Costs by 30%

Paddy — Thu, 19 Apr 2012 21:09:30 +0000

Do you want to cut total accounting costs by 30% while ensuring that your records are always totally accurate and up-to-date?

You also should have heard about Xero. It is the first real accounting revolution since TAS books, 20 years ago.

Xero is so inexpensive that we have yet to bill a client for it.

So, do you want to keep doing things the same way, or do you do you want to cut your total accounting costs by 30% while ensuring that you are always totally accurate and up-to-date?

If you want to find out how you can stop losing money on your accountancy fees please call us at 01 6684411 or email us at pgahan@gahan.ie

‘Make Me Famous’ Paddy O’Connell

Paddy — Wed, 18 Apr 2012 15:28:14 +0000

Slots Filling fast in new D4 Networking Group

Paddy — Sat, 14 Apr 2012 11:19:51 +0000

Tues. 24th is the start date for the new networking group I am launching at the Grand Canal Hotel in Dublin 4

Having had great success myself with business networking I know the value of this in growing a business. I am launching the D4 group to help local businesses in the area.

There is a simple question to ask yourself if you are considering joining the group:

Can you handle more business?

Slots are filling fast with 10 businesses already committed. So if you are interested please contact me asap.

26,000 new business in next 365 days

Paddy — Wed, 11 Apr 2012 20:35:53 +0000

According to BNI that is the average amount of new business a dedicated chapter member gets in a year. However between membership fee and other incidentals the total cost is about 1500 euro per annum.

My group Ireland’s Small Business Community is setting up a networking group at the Grand Canal Hotel starting on Tues 24th from 6 to 7.30 pm and will meet every 2nd and 4th Tues each month thereafter.

The cost will be 10 euro per meeting to cover costs. If you are interested in joining please email me at pgahan@gahan.ie

but don’t delay as slots are filling fast

Looking for new business in D4

Paddy — Tue, 10 Apr 2012 20:02:25 +0000

The amount of business secured through peer-to-peer referrals has rocketed by 45pc since before the financial crisis, suggesting that firms are taking the business development potential of networking more seriously.

This is the reason why I am starting a new business networking group in Dublin 4. When we grow the group we know that on average we will receive 26,000 of new business each every year.

One of the reasons why the group will prove to be so successful is that we only allow one person per professional category, so there is no competition between group members.

There’s business waiting to be referred to you!

If you would like to share some of this, please visit us post Easter and start working towards a better second quarter.

Slots are filling fast so if you want to be part of the

action please contact me without delay.

Using Linkedin to grow your business

Paddy — Mon, 02 Apr 2012 19:35:09 +0000

7 Linkedin tips to grow your business

1. Make sure that your profile is 100% complete – you never get a second chance to create a
great first impression
2. Make sure that you fully understand the power of LinkedIn from an SEO perspective
(create lots of links to your website)
3. Get yourself recommended on LinkedIn. What others say about you is far more important
than what you say about yourself
4. Take a look at the LinkedIn Pay Per Click Advertising (PPC). It can be very targeted
5. Make sure that you use a good quality professional photograph
6. Set up a company profile and add all your products to LinkedIn
7. Grow your connections and keep in regular contact with them