Why virtual bookkeeping works

Balanced Advantage provide virtual bookkeeping services only, which means we don’t provide on site bookkeeping. This doesn’t mean that we never visit our clients – we love seeing our clients!  It means that the majority of our work is done off site using cloud technology.  We are often asked by potential clients why we choose to work in this way. Interestingly, we are never asked this question by our own…  Read more

Client Case study: Creating the perfect virtual accounting system.

We love the freedom of a virtual business and enjoy working with business owners with the same sense of adventure. Recently we have been working with a virtual not-for-Profit who has been growing rapidly and now employs a team of 30 staff located across NSW. Our aim for this client was to centralise the accounting function , collect the financial information from various locations, create a paperless audit trail, create…  Read more

Do you know your break-even point?

All business owners need to be aware of their break-even point — that is, the number of units they need to sell in order to cover their operating costs. Once you’ve reached your break-even point, it’s time to celebrate: your business is no longer in the red, and you are officially earning a profit. This article will show you how to calculate your break-even point so you can make wise…  Read more

5 questions to ask when you are reviewing your profit and loss report.

It is the first week of the new month and this is the perfect time to be reviewing your results from the previous month. My tip is to keep your accounts up to date throughout the month so that you can run a profit and loss at any time and get a snapshot of how your business is doing. So how should you do it ? Here are my 5…  Read more

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