ACCOUNTING

ACCOUNTING SETUP

One of the main reasons businesses fail is because there isn’t a good bookkeeping system in place that would provide warning signs the business could run out of cash.

There are many software packages on the market that allow business managers to successfully control records, some commonly used accounting systems used by small businesses are:

  • QuickBooks
  • Xero
  • MYOB

If you’re unsure which to choose and how to set up accounting system feel free to contact us. Our extensive knowledge in setting up accounting system will assist your business.

 ACCOUNTING SERVICES

  • Preparation of accounts for sole traders, partnership firms, trust, superannuation funds and companies to ensure compliance with relevant legislation and consolidation of group accounts.
  • Our book keeping services includes
  • Payroll processing
  • Job costing
  • Inventory
  • Accounts Payable
  • Accounts Receivable
  • BAS preparation
  • Year-end reconciliation and closing
  • Financial Reporting including Profit & Loss Statement and Balance Sheet.
  • Budgeting
  • Goods and Service tax

PAYROLL SERVICES

Administering your payroll can be time-consuming and divert you from your core business activities. Added to this, payroll and employment legislation are growing increasingly complex.

We can relieve you of this burden by providing a comprehensive, confidential payroll service that includes:

  • Customized pay slips
  • Administration of PAYG, statutory sick pay, and annual leave
  • ATO filing
  • Summaries and analyses of staff costs
  • Administration of incentive schemes, bonuses, and termination payments

MANAGEMENT REPORTING

We are providing management accounting services to small and medium business. With our services your business will get value addition in all crucial aspect of business which includes.

  • Budget Management
  • Cash Flow Management
  • Monthly Business Insight Reporting

BENEFITS WITH OUR SERVICES

  • Better Financial analysis and management.
  • Regular update of financial position by providing Balance Sheet and Profit & Loss Statement.
  • Fulfilment of Tax Obligations.
  • BAS Returns: Keep track on any information and documents in order to accomplish Quarterly BAS return for GST and PAYG data with detailed reconciliation.
  • Tax Return: You don’t have to rush anymore to find all those bills or try remembering expenses when tax time comes. Tax returns are also made easier with an organized Balance Sheet, Cash Flow and Profit & Loss.
  • Payroll Tax: We can also workout payroll tax liabilities if applicable.
  • Proper Record Keeping as Required by Law.

Budgeting

A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.

The techniques we utilize in the formation of financial projections will allow you to consider future scenarios and give you goals to strive for in your business.

In addition to goal setting value, budgets will often improve your chances of acquiring funding as financers often require forecasts as a prerequisite for funding approval. Cashflow forecasting is a vital part of ensuring that your business will always have the cash it needs, because profits don’t pay bills – cash does.

Goods & Service Tax Management

GST legislation is an area we know like the back of our hand. We are able to offer accurate, timely assistance in a number of areas. These include:

  • Registration queries
  • Preparation of GST returns – Business Activity Statements
  • Filing and adjusting GST returns
  • Specialist events involving GST – e.g., sale or purchase of property