Tradie software is changing the way tradespeople run their small businesses. Clinton Cowin, MD at TradiePad runs through the main benefits.
Sourced through Scoop.it from: www.xero.com
Being a tradie can a fantastic lifestyle. You get paid well for a job you like, if not love, and have a passion for doing it properly.
But when you start your business, many times you are skilled in your trades. You may be a great plumber, sparky, tiler, truck driver, etc etc. But it’s not uncommon that when it comes to the other side of your business, the dreaded paperwork, you simply with don’t have the experience or knowledge, or simply can’t be arsed.
It’s so easy to procrastinate and just let it all pile up. Ask any business owners, and I know a couple myself, who have been contacted by the ATO saying they owe 10s of thousands of $$$$. Believe me it happens. I have close friend who went from making $80K per year to $350K in less than 12 months. He kept leading the same lifestyle, and didn’t keep up with the book. He has a great year and spent a lot. When it came to tax time his accountant rang him and said “you know you owe about $45K to the ATO in the next two months?”
Luckily he was able to setup a payment plan. He was lucky, as there have been stories of the ATO winding businesses up and taking assets. It happens more often than you think.
The point of all this is, get you shit together, and make sure your books are in order. If nothing else you’ll know from month to month, where your business it at.
Xero in our humble opinion is great, and it also has a number of great tradie modules that integrate specifically for the tradesman business.
The article above explains a little further in detail. But common, get your books in order. It’s worth the pain.