Daniel Varone joined Jim’s Bookkeeping because he wanted leads, but the biggest surprise was the support he found after joining. After nearly three years as a franchisee in Point Cook, he shares what the experience has been like, where he sees AI taking bookkeeping, and the practical financial habits he recommends to business owners.
Watch the video above, or keep reading for the full Q&A.
How Did Daniel Varone Get Into Jim’s Bookkeeping?
Daniel Varone found Jim’s Bookkeeping while searching online for bookkeeping after a long career in financial services.
Before joining Jim’s Bookkeeping, Daniel worked as a financial counsellor with Anglicare. Before that, he spent 17 years as a financial planner with CBA before redundancy ended that chapter of his career.
His path into Jim’s started with a Google search. Daniel saw an advertisement asking, “Hey, do you want to be a bookkeeper from Jim’s?” He clicked the button, spoke with Lloyd the following week, then Brad, and eventually joined the division.
Daniel started with Jim’s Bookkeeping on 14th of September 2022. Anyone considering a similar move can explore Jim’s Group franchise opportunities to learn more about the wider franchise process.
Why Did Daniel Join Jim’s Bookkeeping?
Daniel initially joined Jim’s Bookkeeping for leads because he believed the Jim’s name could help him reach customers who did not already know him.
As Daniel explained, “No one knows me, but everyone knows Jim’s”. Getting leads was therefore the practical reason he first looked at the franchise.
What surprised him was what came after joining. Daniel found that the network became an important part of his experience. Conferences gave him an opportunity to meet other people, while the bookkeeping group also met on Zoom once a week.
The leads attracted him to Jim’s Bookkeeping. The people, mentoring, and ongoing contact became benefits he had not expected.
What Support Does A Jim’s Bookkeeping Franchisee Get?
Daniel says the support goes well beyond receiving customer leads.
He points to regular Zoom meetings with other bookkeepers, conferences where franchisees can meet each other, and support from his franchisor Brad.
Daniel describes Brad as a mentor, counsellor, pastor and rabbi, “everything all in one”. He says he did not expect to receive that much support when he joined.
For someone researching the franchise model, Jim’s Group also explains how it supports franchisees and provides information about franchisee training before people make their decision.
Will AI Take Over Bookkeeping?
Daniel does not think AI will simply take over bookkeeping. He sees it more as a partner that can help bookkeepers add value.
He compares the current discussion about AI with the technology boom in 1999. At the time, Daniel remembers predictions that everything would move online.
More than two decades later, people still physically visit shopping malls and buy things face to face. Daniel believes that same preference for human interaction will continue to matter when people need financial advice.
His view is that people still want one-to-one, face-to-face advice. AI can help bookkeepers, but Daniel does not expect it to remove the need for personal service altogether.
As he puts it, nobody knows exactly what will happen. For now, he sees AI as technology that bookkeepers can use to help clients rather than something that will automatically replace them.
What Is One Of The Biggest Bookkeeping Mistakes Small Businesses Make?
One of the biggest bookkeeping problems Daniel sees is mixing business and personal transactions in the same bank account.
Keeping business and personal transactions in one account creates extra sorting for the owner and the bookkeeper. Daniel’s advice is to open a separate business bank account first, then keep tax money separate as well. Clear separation makes records easier to follow and reduces unnecessary work at the end of the quarter.
When business and personal spending sit together, somebody eventually has to work through those transactions and decide what belongs where. Daniel points out that this takes more time.
His first practical recommendation is therefore straightforward: separate the business transactions from personal spending from the beginning.
Readers looking for more information about the division can also explore this overview of Jim’s Bookkeeping services.
How Should A Business Prepare For Tax Bills?
Daniel recommends putting tax money into a separate bank account instead of leaving it mixed with normal business funds.
He has seen business owners reach the end of the quarter, receive a large tax bill, and suddenly feel broke. His point is that the money allocated to tax was never really available for everyday spending.
Daniel recommends moving that money into its own account and leaving it there until the tax payment becomes due. While it sits in the account, it may also earn a little interest.
That approach means the money is already waiting when the bill arrives.
Daniel describes tax as one of the biggest costs businesses face. Separating money for tax from everyday business funds can make it much clearer how much money the business actually has available.
How Can Technology Make Bookkeeping Easier?
Daniel recommends using accounting technology when a transaction happens instead of trying to reconstruct the records at the end of the quarter.
His example is a petrol receipt.
Instead of pushing the receipt down the side of the car door, Daniel recommends taking out a phone, photographing it, and sending it straight into the accounting software.
Once that happens, the receipt has already been recorded. The business owner does not need to search through shoe boxes or piles of loose receipts months later.
Daniel’s advice is simple: use technology to your advantage.
He also says having a bookkeeper available to call can save time when a business owner needs help. Simple habits combined with access to a bookkeeper can reduce the amount of time spent chasing records later.
How Do You Request A Jim’s Bookkeeping Service?
To request a Jim’s Bookkeeping service, Daniel says to call 131 546.
Daniel explains that customers may have a bookkeeper in their local area. If that bookkeeper is busy, the system may connect the customer with somebody else who is available and actively looking for new clients.
The goal is to connect the customer with a bookkeeper who is ready to help rather than making the customer work out who to contact.
For business owners who are spending too much time sorting receipts, separating transactions, or trying to stay on top of their accounts, call 131 546 to request a Jim’s Bookkeeping service.