fbpx

Business Activity Statement

Ask any tradie what holds them back in business, and often the answer will be paperwork.

There is no better (or should we say worse) killer of time than having to sit at the kitchen table completing your Business Activity Statement (BAS) each quarter.

Aside from doing your BAS there are all the other painful jobs such as issuing and chasing invoices, reconciling bank statements and crunching the numbers.

As your business grows you might decide to outsource some or all of these tasks to a bookkeeper.

Given that a typical bookkeeper will charge a lower hourly rate than the average tradesman, it makes very good business sense to outsource your books and BAS.

So why do many tradies choose not to use a bookkeeper, but still complain about paperwork? We don’t know!

Why should a tradie use a bookkeeper?

Let’s take a look at the pros and cons for a tradie using a bookkeeper.

Do it yourself Use a bookkeeper
Costs you nothing but time Costs anywhere from $80 per month upwards
Greater risk of making a mistake Experience should lead to greater accuracy
Can take up many hours of your time Frees up your time to earn more on the job

There is another factor which is also worth considering, and that is the hands-on nature of managing your books on your own.

By doing your own books and BAS you can get a clearer picture of how your money moves around.

Some people love this and some people hate it, so whether you see this as a pro or a con will depend on your own feelings.

Bookkeeper cost

We’ve done some research to see just how much it will cost a tradie to have their bookkeeping outsourced.

Please bear in mind that each of the providers listed below will be providing a slightly different level of service.

For example some include chasing up invoices or completing bank reconciliations, whilst others do not.

Provider Minimum cost Maximum cost
Tradies Bookkeeping Services $80 per month $220 per month
Geelong Business Services $159 per month $349 per month
Tradies Tax $89 per month $209 per month
Tradies Choice Bookkeeping $45 per hour $75 per hour
Be Smart Bookkeeping $30 per week POA

We found plenty of other bookkeepers who specialise in looking after tradesmen, but unfortunately they don’t list their fees on their website – so they didn’t make our list.

In person or online?

There was a time when tradesmen would choose a bookkeeper from their local area so they could drop their glovebox full of receipts and invoices off each month!

But times have changed, and many tradies (and business owners in general) now rely on the internet rather than having to meet face-to-face.

It’s no different to insurance really. There was a time when a tradie would have to visit their local insurance broker, but now they just go to websites like ours here at Trade Risk.

You might still be dealing with a suburban bookkeeper, but instead of having to drop in with your paperwork each month, you just scan and email it through to save time.

There are also more automated options available, such as cloud-based services which can link between you, your bookkeeper and your accountant.

More information

Here at Trade Risk we only look after insurance for tradies, not bookkeeping, so we can’t help you out with advice on your bookkeeping needs.

What we can suggest is that you try some of the companies we listed in the table earlier, or just try searching Google.

If you already have an account that you use for your tax, it also worth asking them if they know of any bookkeepers they are happy to recommend.

Tradies Love Trade Risk

In 2017 Trade Risk was awarded a Gold Trusted Service Award for the amazing service we offer to thousands of tradies from around Australia.

  • "Communication and contact support."
    | Tradesman Insurance |
  • "Great service and communication on all of my dealings with them"
    Super Inspect Pty Ltd | Tradesman Insurance |
  • "Simple and easy process to go through and would highly recommend this service to anyone"
    Tony | Tradesman Insurance | Sydney
  • "Exceeded expectations, great service"
    Cewe Pty Ltd | Tradesman Insurance |
  • "Cheap price, never had to claim so not sure how well it will hold up as a policy with loopholes etc"
    | Tradesman Insurance |
  • "Quick process exelent treatment to the client."
    | Tradesman Insurance |
  • "Excellent service"
    | Tradesman Insurance |
  • "Timely reminders and quick response emails."
    The Trustee For The Stephen & Yvonne Henry Family Trust T/As SYS Creative Pty Ltd | Tradesman Insurance |
  • "Great communication, customer service."
    | Tradesman Insurance |
  • "There is plenty of warning that renewal time is coming up. Because of the diversity of our work, they ensured that all aspects of our work was covered and noted on the paperwork. A comparison quote was arranged for, given the extra wording and cover needed and, to our surprise, they were able to save us some $200 in premiums. Thank you Trade Risk."
    Mark Stanley Hawkins T/As Picture Perfect Art Hanging | Tradesman Insurance |
  • "Easy to renew"
    Jeremy Bishop | Tradesman Insurance |
  • "answering my phone call so quickly"
    | Tradesman Insurance |
  • "quickly, sample, good vale I LOVE IT"
    | Tradesman Insurance |
  • "The policy and premiums were ideal for my small business. The support staff were great to deal with."
    | Tradesman Insurance |
  • "prompt service"
    | Tradesman Insurance |
  • "Happy with the purchase However the only feedback that is important is how you perform when I have a claim, buying something is easy, ask me for my feedback then! Cheers Brian"
    | Tradesman Insurance |
  • "Like the prompt service received."
    B2B Marketing Group Pty Ltd | Tradesman Insurance |
  • "good offer. very helpful"
    Navcom Communications Pty Ltd | Tradesman Insurance |
Share via
Copy link
Powered by Social Snap