ONGOING BOOKKEEPING SERVICES

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Data on a Touch Pad
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AGED RECEIVABLES

Getting you paid on time

  • Data entry Debtor invoices

  • Data entry Debtor payments

  • Reconcile Aged Receivables

  • Chasing overdue invoices

AGED PAYABLES

Keeping you on track

  • Data entry Creditor invoices

  • Pay bills

  • Data entry Creditor payments

  • Reconcile Aged Payables

PAYROLL

Keeping you compliant

  • Process payroll

  • Pay staff

  • Liaise with Super Funds and lodging super returns

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END OF YEAR

  • Reconciling all BAS' lodged for the year with the GST Control Accounts

  • Reconciling wages, PAYG, Super before preparing Payment Summaries

  • Providing accountant with data file and end of year reconciliations for Tax Return Preparation

REPORTING

  • Monthly Profit and Loss and Balance Sheet

  • Quarterly Financial Reports and analysis

  • Quarterly Fitness review

BANK ACCOUNT

  • Process bank fees and interest

  • Process direct debits

  • Reconcile bank accounts

  • Reconcile credit cards

STARTUP BUSINESSES

If you are a startup business the process is straightforward.

We will recommend the most appropriate software for your needs and will install the software, work with you to develop a Chart of Accounts specific to your business, customise Sales Invoices and set up Payroll if required.

RESCUE JOBS

What is a rescue?

It's not deliberate. You had good intentions. Time runs away from you because you are busy running a business. Before you know it, it's BAS time AGAIN and you know you're going to have to spend the weekend getting it done.

Or maybe you had someone who you thought you could trust but got it all wrong because of their inexperience.

Over time the problem becomes so big that:

* it has taken over your office

* it keeps you awake at night

* you don't know where to start

* you're fearful that the ATO will call

* you have no idea how much tax or GST you owe

* you are completely in the dark

Because every "rescue job" is as individual as you are, we can't say exactly what we need to do to clean it up, get you up to date or how long it will take. During the initial consultation when we complete a "Health Check" we will explain to you what the problems are and what needs to happen to transform your data file into a source that provides you with reliable information.

Essentially though we will do whatever it takes as quickly and efficiently as possible. Some of the issues we will address are:

* Bank accounts or credit cards that don't reconcile with the Statements

* Old unpresented transactions in the Bank Account or Credit Card

* Trade Debtors and Trade Creditors that don't balance with the Balance Sheet

* Trade Debtors and Trade Creditors aren't "real" i.e. outstanding invoices and bills have already been paid but still showing as outstanding

* Incorrect previously lodged BAS

* Payroll Categories that are incorrectly set up therefore giving you incorrect information in Payslips, AL & SL Accruals, SGC Calculations and Payment Summaries

* Unreliable Inventory figures

The implications of these issues are:

* You may be paying the wrong GST, Tax and Superannuation

* You may be subject to fines and interest

* You may be making strategic business decisions based on unreliable figures with dire consequences.

REPORTING

Making sure all the compliance requirements are fulfilled is good bookkeeping. What empowers our clients around their finances is providing them with meaningful reports.

We can provide the standard set of Profit and Loss reports but if you need more information we can provide you with a variety of reports to suit your budget and your needs.

Quarterly Financial Reports

In this report, we make comparisons with this year to last year, this quarter with the same quarter last year and this month with last month. We include the Cost of Goods Sold and Expenses represented as a percentage of the Sales, and the Balance Sheet.

A copy of this report also goes to your Accountant so that they can see in a snapshot, where your business is at and to give a more in-depth analysis of the story behind the figures.

We recommend this for micro to small business owners who don't want to grow their business beyond what they can manage themselves and at a cost of $95 per month it's affordable for this size of business.

Quarterly Board Reports

Most Sole Traders or a small to medium sized business don't have a "Board" that they are required to report to each month. We encourage our clients to think and behave as if they are larger than they really are, which has a flow-on effect of generating growth in their business.

On the other hand, some business owners keep a lot of the financial information in their head and manage to run their business successfully for many years. There usually comes a point, though, where the business has outgrown them and they need to share part of that load. The only way of doing this successfully is to have a set of reports that can be discussed with all the stakeholders in the business.

The Quarterly Board Reports include:

  • The Fitness Review (Board Report) which examine five KPI's in the business:

    • Cash Flow​

    • Sales

    • Gross Profit

    • Net profit

    • Accounts Receivable and Accounts Payable Collection Rate

    • Current Ratio

  • The Quarterly Financial Reports​

Get in touch if this level of reporting is of interest to you.

Monthly Strategic Board Reports

This set of reports is suitable for business owners needing to make strategic decisions month by month.

It includes:

  • KPI reports (customised for your business)

  • Budget analysis

  • Cash Flow analysis

Get in touch if Monthly Strategic Board reporting is of interest to you.