Feb 13

The Benefits of Hiring a Bookkeeper

The Benefits of Hiring a Bookkeeper

Would it be better to hire a Xero bookkeeper to help with your bookkeeping and BAS?
Bookkeeping costs are a valid tax deduction for small business, the same as your accountant or tax agent at year end.
You can save plenty of time and stress by using a bookkeeper because they will keep your accounts up to date and in order.
Your BAS, IAS, STP and Superannuation will be lodged or filed on time.
Your accounts will be ready for your accountant or tax agent at year end so that should save you some accounting fees.
Registered BAS agents need to have continuing professional education so they are up to date and knowledgeable.
Bookkeepers like bookkeeping and balancing up your books.
Don’t get caught out. Unfortunately, we have seen a few sole traders get caught out with the whole GST and income tax situation in their first year of trading. They ended up with large tax and GST bills which took them years to pay off.
We can help you with all of your Xero bookkeeping and BAS requirements.
Book in here now with your local Sydney Xero Bookkeeper for a free telephone discovery consultation

Call now on 0423 879 056 or click here to email us

Feb 13

Important Bookkeeping Questions for Tradies and Small Business

Important Questions for Tradies or New Small Business Owners

What is your chart of accounts?
How important is it to code transactions to the correct accounts when doing your own Xero bookkeeping?
What paperwork do you need to keep and for how long?
What is the easiest and most efficient way to keep track of and pay your creditors in Xero?
Is a Profit and Loss statement and why is it important?
What is a Balance Sheet? What does it tell you about your business? Which Balance Sheet should you run in Xero?
What is GST? How does it all work? What is a business activity statement or BAS?
Businesses need to register for GST when their income is close to the $75,000 income limit. It is a real pain to deal with backdating the GST registration if needed.
Are you considering taking on your first employee? What paperwork do you need? What do you need to do? How does superannuation work?
Are you going to be paying subcontractors? Do you need to pay them superannuation? What about the Taxable Payments Report where you need to advise the ATO on the amounts you have paid them throughout the year?
Bookkeeping best practice is to put aside funds for your GST, PAYG (tax taken out of employees pays) and your tax so you have the funds to pay your liabilities?

Feb 13

Catch Up Bookkeeping Services

Catch Up Bookkeeping Services

Sometimes your bookkeeping just gets out of control and you need a bit of help to catch it all up.
Our speciality is big or little catch up or rescue jobs.
If it over 3 months old, it would be considered a catch up job.
Catch up on a couple of BAS quarters or a number of years.
Stop stressing about catching up all your accounts and give us a call now to get started.
Why wait any longer when we get you all caught up within a couple of weeks.
We will estimate your total fees and bill you upfront in blocks of 10 hours.
Our current schedule allows us to complete your catch up now so why not give us a call

Dec 16

Watch out for tax scams

Watch out for tax scams

Large numbers of scammers have been trying to trick people with fake tax debt scams recently.

These scammers will tell you that you have a tax debt and if you don’t pay it straight away, you’ll be arrested.

If you receive a phone call or message like this, don’t respond.

The ATO will never:

  • threaten you with immediate arrest, jail or deportation
  • request payment of a debt via iTunes, Google Play gift cards or other vouchers
  • insist you stay on the phone until you pay
  • prevent you from discussing your tax affairs with your agent or adviser.

If you’re ever unsure if a contact is really from the ATO, hang up and call the ATO on 1800 008 540 to check.