How can a virtual bookkeeper help?

Many business owners are quite mindful of their business. Considering that the business is the source of their living, taking good care of it by all means is definitely a must. If there is one thing that most business owners should hire for their business, it would be a bookkeeper. Good thing, in today’s revolutionary world, bookkeeper can even be acquired virtually. It means hiring a freelancer to work for your company even he or she is not physically seen in your office. Some considerations when looking to hire one can be found below.

  • The use of accounting software or program. If your company does make use of software or program such as Peachtree or Quickbooks, it would be worthwhile to ensure that your freelance bookkeeper also uses the same. Both your version should be the same. This consideration matters so as the job can be done smoothly. With such, you may be able to restore similar file from an old version of software going to the new updated version.
  • Another thing is the use of Quickbooks online. With this, up to three users have the capability to use the account. It is between the business owner, accountant and the bookkeeper. Since it is online, only an internet access is needed so as to get access to it and use it.
  • The use of remote access websites. By making use of this option, you can have your freelance bookkeeper update your files and records when needed by logging on a computer.

Aside from the aforementioned factors, there are also other things to look on. This would be the concern relating to getting the information to the bookkeeper. With this, it can be addressed by:

  • File folder set up on a monthly basis. This needs manual entering of details like receipts of credit card purchases, bills from the vendor as well as the cash outlays. As with bank statements, you can safely send it through priority mail. By the time that the mail is received, the entered charges from the bills can be reconciled with the statement. Read more—How-Outsourcing-Can-Benefit&id=1241751
  • As for the invoices of the client, it can be sent through email, fax or regular mail. Such invoices are required so as to prepare the invoice of the client.
  • Business owners with online banking account can get the utmost use of a virtual bookkeeper. This is because your bank activity can easily be accessed and print at anytime. Then along with the statement, the bookkeeper is able to do account reconciliation.

The last consideration would be selecting the bookkeeper. Although there can be too many freelancers around that offer the same service, it can be a challenge to quickly select the best one. Hence, you may want to get referrals and recommendations from your accountant or from other people you know who might be familiar with the service that you need. Another is to read reviews and feedbacks online. By doing such, you can get to know the best one for the position.

Investment of Property through SMSF

Any sort of method related to enriching thriving wealth would necessitate insurance. It serves as a vital component and make sure that you and your loved ones will be taken care of in any misfortunate event such as sickness, accident or even death.

Available Insurance

  • In case of death, the life insurance will help your family to cope for your loss through financial means.
  • TPD insurance or Total Permanent Disability would help provide financial security for the family. This can be used during any sort of long term leave from work due to an illness or injury.
  • Trauma will be used to give you the money to help in covering for medical and other related costs that may happen if in case any trauma occurs.
  • Cover for income protection that can help with regular income if in case you will not have the capacity to work momentarily as caused by an injury or illness.

It is likely that you already heard or already have any of the above insurance mentioned. It is a good thing having the insurance above as it can cover the needs of your family should any unfortunate event happens.

Tax Deductibles

It is possible to have an insurance policy that can hold income protection with SMSF as the name. Yet with the marginal tax rates of a person that can be over 15% of the tax paid in a SMSF, it can be more tax effective to have the policy in individual’s name.

Insurance matters for property investments and debt

With SMSF having the capability to borrow and invest in residential and commercial property through a structure of installment warrant, there is an increasing need for insurance as well. This is because of the huge percentage of assets by SMSF linked to one investment like the lack of liquidity.

Lack of liquidity can be a major concern if a member turns out to be disabled, death or not able to work for quite some time.


Since there is a must for SMSF inside and outside, there is also a requirement to make sure that insurances can be held by the SMSF.

Trust Deed: SMSF trust deed should be assessed so as to see if it can hold the policies of life and TPD. This is on behalf of the members. Most SMSF trust deeds that can be obtained in the market permit holding of insurance policies. Learn more:

Having an existing SMSF may necessitate you to review your deed. This is regardless if you have an existing insurance policy under the name of the fund.

Minutes and reserves of the trustee: If the insurance company pays the benefit to adhere life or TPD policy, they need to pay it to the account of the members within the SMSF.

For anyone who already has an SMSF or interested to have one, it matters to make an assessment of your insurance needs first. You also need the SMSF to get the proper insurance policies behalf of the members.

Homeowner Tips: How to Save Your Money From Going Down the Drain

Everybody encounters a number of problems with their homes, such as pest problems, disruptive neighbors, frustrating flood, and structural and plumbing troubles. But among all those home issues, one of the biggest concerns of homeowners is flooding. This is especially true for those who live in areas that are prone to flooding.

Of course, we all have our own way to fixing things inside and outside our dwellings. However, there comes a time that what we thought could help us fix our problems makes things even worse, costing us more. And we know how painful that can be. So we’ve gathered here some tips to help you fix your flooding issues and avoid unnecessary money loss.

  • Purchase a house that never floods. People say that a home is the single biggest investment that anyone can make in his or her life. This is the very reason why everyone is advised to properly inspect a house first before you decide to purchase it. Of course, in order to get the best out of your money, you have to ensure that the house is in good condition. And one of the first things to take into account when buying is if it’s prone to water problems. Remember, a house that is prone to flood can cause all sorts of house problems aside from water, which include rust, pest, mold, and unhealthy indoor air.
  • Keep your drains and water systems in order. Keep in mind that just because you have bought a house that is not prone to flooding doesn’t mean you can already relax and neglect your home. Owning a home is a responsibility, so don’t forget to conduct a regular checkup on major parts of your home to make sure that everything is working in order and to avoid unwanted problems, such as water and dust buildup. Some of the things that require regular maintenance and checkup are your drains, water systems, pipes, and garbage disposals. Ideally, your drains and other plumbing should be inspected at least once a year. Make sure that you also hire the service of a qualified professional to effectively see if there are any leaks and damage, and immediately repair them if spotted.
  • Install the right sump pump. If, for instance, you have bought a house with water problem, fret not, as there’s still a lot of solutions to stop water from entering your home, and one of them is with the use of sump pumps. A sump pump is a small pump tool that is typically installed in the lowest part of the house, such as in basement. Its job is to remove water from your home to help keep it dry. There are different types of sump pumps in the market, and to effectively make your home free from flooding, you should get the best zoeller sump pump for your basement water. But do remember that even if your house is not prone to water problem, installing a good sump pump is still crucial.