Everyday Xero Bookkeeping Services
As little or as much as you need – let us take the stress out of your everyday bookkeeping – set fee pricing available
- We can set up your bookkeeping processes from scratch if needed
- Review your current bookkeeping processes to check on ways to improve efficiency
- General everyday bookkeeping
- Enter and code your bills to pay – we use Receipt Bank for this which is very easy to use, all you have to do is take a photo of a receipt on your phone and we do the rest. Or you forward on any emails with bills attached to a specific email we give you. We do the rest.
- Pay your bills if required or set up a batch payment for you to upload to the bank, it is really easy and quick to do, why not use the technology if it is available, then you can send out remittance advices quickly letting your suppliers know that they should be expecting your payment
- Match your payments out of the bank to your bills in the system
- Match up your payments coming into your bank account against your outstanding debtors or customer’s invoices
- Follow up on outstanding debtors if required
- Complete Bank reconciliations to make sure you have no missing or doubled up transactions on your bank feeds
- Monitor your accounts receivable so you know who owes you money
- Monitor your accounts payable so you know who you owe money to
- Provide you with current financial information and reports so you understand how your business is performing
- Assist with budgeting and cash flow
- Customise your Xero quote or template so you are not having to double up
- Complete our full BAS reconciliation at the end of each quarter
- Prepare and lodge your Business Activity Statement (BAS) taking advantage of our four week time extension to lodge and pay
- Provide information to your accountant so he/she can complete your year end tax return
- We prefer to offer a regular bookkeeping service to you based on a set monthly fee which helps with your cashflow and ours. We review the set fee after 3 months to make sure it suits both of us going forward.
New Business Bookkeeping & Assistance
What software should you be using? We prefer Xero for small and medium size businesses and can set it up for you from the beginning, better to have it set up correctly so the information you put in comes out right.
What is your chart of accounts? Does it really matter where you code transactions to?
What paperwork do you need to keep and for how long?
What is the easiest and most efficient way to pay your creditors?
What is a Profit and Loss statement and why is it important?
What is a Balance Sheet? What does it tell you about your business?
What is GST? How does it all work? What is a business activity statement? Who needs to register for GST and when?
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 check if they are deemed employees and you may need to pay them some superannuation? What about the Taxable Payments Report where you need to advise the ATO on the amounts you have paid them throughout the year?
How much should you be putting away for your GST, PAYG (tax taken out of employees pays) and your tax so you have the funds to pay your liabilities?
We can help you on all of the above so you understand how your business is performing on a current basis, don’t wait until it is too late.
Cashflow and Budgeting
Do you want to know where all of your money goes? Are you wondering what happened to that net profit figure if it is not in the bank account?
Are you always having trouble finding the money to pay your BAS or year end tax? Whilst it is not always an option to put money aside, it would be a good idea to at least know a figure to put aside into a separate account out of your everyday income for your BAS or tax return? If you think about GST, you are acting as a collection agency for the Government, you pay the GST you earn and you claim back the GST you pay out, if you are making money in your business, then usually you will have to pay the net GST at the end of the month or quarter.
We can help with all of this and set up budgets for you to help with your cashflow. We can also assist with following up on your client’s outstanding invoices to a degree although we are not a collection agency. Please give us a call to find out more.
Payroll, Superannuation & Single Touch Payroll
Work out what award to pay your employees under
Make sure you have the correct paperwork
Set up your employees correctly in Xero
Learn how to run payroll, STP and Superannuation in Xero
Catch-up or Rescue Work
We specialise in big or little catch up or rescue jobs.
Catch up on a couple of BAS quarters or a number of years.
Stop stressing about it and give us a call now to get started. You will wonder why you waited so long.
We can give you a rough estimate of costs, then bill upfront in blocks of 10 hours. It is always a bit difficult to give a set quote because we never really know what we will find or need.
Supervisory Services & BAS
If you prefer to take care of the regular reconciliations, we can review your accounts at the end of each quarter to check your codings.
We would then complete our full BAS reconciliation to make sure you are claiming all the GST you are entitled to.
We will give you feedback and a little training if necessary.
We would then prepare and lodge your BAS through our BAS agent portal letting you take advantage of our four week time extension to lodge and pay.
It usually takes us a minimum of two hours to check your bank reconciliations, check your codings and GST, provide feedback and ways to assist you going forward, prepare and complete our full BAS reconciliation, then prepare and lodge your BAS. We also charge a BAS lodgement fee whether we lodge the BAS or if you decide to lodge it yourself via other means.
Accounting/Tax Agent Services
We work in partnership with your accountant/tax agent to make sure you claim every legitimate tax deductible expense possible. We make sure we have the correct paperwork needed in the event of a tax audit and try to have all of the information ready for your tax accountant at year end to save you time and money.
Whilst we do believe it is a good idea to have two sets of eyes on your accounts, if you do not currently have an accountant or are looking for a new one, we can recommend one that works with us knowing that he is very knowledgeable and understands small businesses’ needs.
He is always available to give us guidance and professional advice on anything we are not sure of throughout the year which is in your best interests.