New Business Bookkeeping Services
Thinking of setting up a new business in the Sydney area?
Or have you just set up a new business?
Are you a tradie just starting out on your own?
Not sure what you should be doing or where to start?
Trying to find a bookkeeping course so you can learn the basics? Why not touch base with your local Sydney bookkeeper to assist you.
We can assist with:
- Registering a Business Name
- Registering for GST
- Registering for PAYG as an employer if you are going to take on employees
- Basic bookkeeping
- Accounting Software – Get set up from the beginning – Xero is our preferred accounting software because it is web based and is easy to use, even on your ipad or tablet or your smart phone.
- Paperwork – what to keep and where do you keep it
- Setting up employees correctly from the beginning and being Fair Work compliant
- Getting ready for Single Touch Payroll (STP)
- Business Fundamentals – Balance Sheet & Profit & Loss – what are they are and why are they important
- Cash Flow – the most important factor in any small business
- All of your bookkeeping or some of your bookkeeping, whatever you need.
- Debt collection procedures and what you should be doing and not doing to keep on top of your debtors.
- Understanding statements from suppliers and the importance of reconciling them on a monthly basis..
- Understanding bank reconciliations and the reasons why they are so important to be completed on a regular basis.
- Putting aside funds for the ATO on a regular basis
- Preparing and lodging your monthly or quarterly Business Activity Statement
- Finding a good, pro-active Accountant in the Sydney area.
What do you do with all of your paperwork for future tax audits?
The best piece of advice we offer all of our clients is to work with Receipt Bank or Hubdoc to take care of their mounting pile of paperwork. We will set you up on either Receipt Bank or Hubdoc which are both fantastic Xero add ons.
It is a really simple process, all you need is a smart phone and you download the app. This allows you to take a photo of a receipt for some supplies you have just purchased, you don’t need to write in what it is for as we can see what it is for as we will see the receipt. You don’t need to say which bank account you have used to pay for it either, you just hit save. From there, we do all of the processing from coding it off in Receipt Bank, pushing it across to Xero where it then becomes a bill with the receipt attached for you or your accountant to see at any time down the track.
This is great in the unlikely event of a tax audit as all of your paperwork is attached, still easy to read, not in a shoebox or filed somewhere else.
Check out how easy receipt bank is to use: https://share.vidyard.com/watch/YSoapa5fneMtmfRCKxZaBA?
We prefer to use Receipt Bank and the good news is it is is included in our set monthly bookkeeping packages. We do all of the setting up for you and send you the links to get started.
Give us a call now 0423 879 056 or email us here
Or book in for a free telephone discovery consultation with your local Sydney bookkeeper.
Some Useful Links for New Business:
Small Business Assist: https://www.sba.ato.gov.au/