Reporting

Do You Know Your Break Even Point?

We understand that large jobs challenge your cash-flow and knowing where you stand financially can be difficult to determine with so many moving parts.

Accurate and consistent reporting allows you the transparency to be confident in investing in new employees, equipment, or in taking on a big new project, knowing all of your outgoings and wages will be covered.

Free Guide Reveals

5 Steps To Accurate & On-time Construction Bookkeeping

Enjoy peace of mind knowing your bookkeeping is professional and your business is profitable

What we can deliver for you

Our construction-based experience will have you enjoying:

Assured Cash-flow Stability

As a business owner it is essential that you are aware of any potential cash-flow issues immediately, not weeks or months later when it’s too late. Creating an accurate forecast of when cash receipts and cash expenditures should occur in the future allows for you as the owner to make educated fundraising and investment decisions too. This is such a vital report for small business looking to grow at a sensible rate with minimal stress

Most Profitable Job Type Insights

By comparing jobs based on their category, for example city-by-city or job type comparison like renovations versus new builds, it is easy to see which jobs are the most profitable. From here you can rest easy knowing which are the most financially beneficial contracts and invest your time quoting these, rather than other, less beneficial jobs

Current Business Value Knowledge

Through reports like the Balance Sheet, YTD and your reconciliation, you have a tangible picture of where your business stands against competitors. You can also see an accurate value of the business should you be interested in taking out a loan or bringing a partner onboard until you decide it’s time to sell the business

Who We Help

LL Bookkeeping assist all businesses across the building and construction sector with their unique needs as we offer a personalised set of services to each organisation

Builders

We understand how many moving parts there already are in your day

Tradies

Carpenters, bricklayers, electricians, painters, gardeners, plumbers, plasterers, tilers and shopfitters, just to name a few

Large, Construction-Based Business Owners

Corporations who need specialised construction-focused bookkeeping training and advice

Hi,

My name is Louise Lamb. I help business owners in the building and construction industries perfect their bookkeeping to create a place of certainty and business growth.

I work with sole traders, partners and companies with both sub-contractors and employees on their payroll.

I stay across the numerous employee awards ensuring my clients remain within legislation and out of trouble.

With thanks to my own years in building and construction, I offer my clients the best possible guidance for bookkeeping in their unique industry.

Louise Lamb
Director, LL BookKeeper

How We Do It

Step 1

We setup your software.
Each business needs digital accounting programs to keep track of invoices and payroll.
A cloud-based accounting program is essential to streamlining daily construction-related accounting. We identify the most useful software for your unique needs and get you set up and ready to go.

Step 2

We create a Chart of Accounts.
A Chart of Accounts is an essential list, created custom for each business that includes the accounts used by an organization to define each class of items for which money or its equivalent is spent or received

Step 3

We configure cross-program data importing & exporting.
Data must be constantly imported and exported between these software programs, which is where cross-program automation is going to save you valuable time in managing your bookkeeping. For example opening balances will need to be added in for all accounts, and Single Touch Payroll needs to be setup to export figures periodically.

Step 4

We perfect your invoices.
By creating the easiest to read invoice, with all of the vital and legally necessary information you increase your chances of having items paid for on time. We also show you how to track job deposits and progress payments for every job.

Step 5

We guide you through Payroll, Tax & Super.
The award wage and associated legislation varies across different trades so we ensure you have the most up to date figures on hand. We help you to register for PAYG withholding and show you how to collect and submit declarations. We also offer assistance in selecting an employer-nominated fund and show you how to keep record of contributions.

Step 6

We work with you in one-on-one training.
One-on-one training from a bookkeeper with specific experience in the construction industry will see you get the most out of your bookkeeping and see your business bloom.

Testimonials

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Rick Micaleff

Rick Micaleff Protech Group Pty Ltd

Having a professional Bookkeeper that specializes in the Construction Industry means I can focus on my business and not worry about my books. I’m confident that Louise of “LL Bookkeeping” will ensure my accounts are up to date, accurate and compliant.

Sammy Leonard

Breeze Balm

Louise is easy going, friendly and really listens to my needs as a business owner. She keeps our finances well groomed and up to date. She provides great advice and helps with realistic budgets. I highly recommend her!

Janine Mcauley

Gold Coast Budget Pools

Louise is a Godsend, we have just started our own business and she was there to help me with my BAS and questions I have with Xero. My stress levels were instantly relieved and felt comfortable straight away, highly recommend her services”

FAQ's

Do I have to pay superannuation to subcontractors?

Are you paying Sole Traders for contract labour hire? There may be an obligation to pay them superannuation. Some of the key points to consider:
Did they quote by the hour or a fixed price for the job?
Do you require them to complete the work themselves or do they have the option to delegate the work?
If they quoted by the hour and didn’t have the option to delegate the work there is most likely a superannuation obligation. If so, this must be paid directly to their selected super fund (not to the sub-contractor). Ask your bookkeeper for guidance if you’re unsure.

I entered my income & purchases and my accountant lodges my bas. What else is there to do?

It’s really important to have this conversation with your accountant. What exactly is covered in their fee? Unless you have your own bookkeeper and you’re confident all the data has been recorded correctly and reconciled (not only your bank accounts but also your balance sheet accounts), are you sure your accountant is receiving and lodging the correct information? Check what is included in their fees in detail. Is there a missing piece in the puzzle that could be costing your business $$$$?

Why should I have a separate bank account for business and personal use?​

If you’re using your business bank account for daily purchases than either you or your bookkeeper is spending time entering and coding these transactions. All of your personal expenses are coded to directors’ loan account, drawings account or similar (whichever the account is titled, the outcome is the same). This wasting your own time or you’re paying someone else to do this and put simply, it’s just not necessary because it’s not business-related. Keep these transactions separate to your business. Save your valuable time or money. Instead, if you want to draw funds why not set up a recurring transfer for a set amount to your personal account? You can even set up a bank rule so it reconciles itself each time. No time wasted!

Book A Free 30 Minute Tradie Bookkeeping Strategy Call

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