ONLINE BOOKKEEPING SERVICES

We only provide offsite bookkeeping services. However, we recognise the need of some clients for occasional onsite work- that can be arranged.

We use Xero, Quickbooks Online (QBO) and MYOB in servicing our client’s bookkeeping requirements. We are a Xero Certified Advisor and a QBO ProAdvisor.

For a full bookkeeping services engagement, we perform the following:

• Assist client with implementation of a more efficient filing system.
• Perform bank and credit card reconciliations.
• Process periodic payroll, compute for monthly PAYG and superannuation and payroll tax, when applicable.
• Provide pay advise to staff.
• Prepare and send invoices to customers, follow-up collection.
• Review bills for payment and enter into the system. Process payment or request client to pay bill.
• If internet banking is part of the role, process payroll & bill payments on an agreed periodic schedule. Subject to limits and internal control process.
• Provide periodic report of outstanding debtors and creditors and discuss appropriate action plan to address issues and moving forward.
• Prepare periodic financial statements and discuss with client.
• If and when required, prepare a periodic cash flow report and/or budget.
• Annually, prepare staff payment summaries. Submit Payroll Summary Annual Report (PSAR) to ATO.
• At end of financial year (EOFY), review and reconcile accounts. Have the file Accountant-ready for purposes of preparing the business tax return.

RESCUE BOOKKEEPING

It is common for SME’s to neglect their accounts not knowing the repercussions of bad recordkeeping on the business both financially and administratively. Business Owners should be aware that an up-to-date record of accounts provides critical information about the business, often used in planning and decision making.

This area of the business is at times thought of as unimportant until you notice your business has been sliding, or cash flow had been going down. The ‘danger’ of not having updated records is that you don’t know where your business is at given a certain period of time. And you tend to make business decisions purely on gut feel, no factual basis.

We can help you update your record keeping within a 30 to 60 day timeframe depending on your circumstances. Note we charge premium rates for this service and depends on staff availability.