This includes the day to day operations and includes input cash transactions and reconciliations of relevant bank accounts. Depending on client needs, this can include input of debtors and creditors. This process can be managed efficiently to let you get on with what you love doing – and that usually ISN’T the bookwork!
Well… it is coming! Whether you are ready or not! If a Small Business employers more than 20 people (headcount) as at 1st April 2018, it will be expected that you report each “pay event” to the ATO after the 1st July 2018. All other Small Business Employers will need to fall into line twelve months later (there are just a few exceptions – no satisfactory internet is one). Any Business can opt into the STP system earlier – and this may gain some efficiencies in your business – it’s not all bad!
In this world of technology – do we have all our bases covered? Are you as a Small Business at risk of being hacked and your employees “sensitive data” being out there for the whole world to see?
No matter how good intentions are – without regular input of invoices and follow up of outstanding debtors, your cash flow can be heavily impacted. Whilst an outstanding creditor will call to get you to pay – how often does a customer ring to chase up an invoice? Cash flow planning is vital for the survival of your business! Call to find out some strategies to make this process more efficient.
In order to let you get on with what you love doing, supplier invoices can be input and payments made to suppliers. Reports can be provided to you as a client on a regular basis.
No matter how large or small your payroll is our professional team will ensure your staff are paid correctly and on time and ensure you meet your ATO obligations.
Depending on your situation, either your BAS or IAS will be lodged in a timely manner. GST and Payroll compliance accounts will be checked and reconciled prior to each lodgement.
These returns will be completed in a timely and efficient manner so that you can get on with what you love doing in your business.
There are many add-ons that will help with the efficiency of your business. One of the popular ones chases invoices (even sending out a pre-reminder when the invoice is due) while another allows direct integration of invoices into your accounting system which eliminates data input and leads to a paperless system which is great for the environment and those dusty archive boxes!
Do you just want some help with the numbers? Why does your Accountant tell you that the business is making money and you don’t seem to be able to pay your bills at the end of the month? Where is your cash trapped? Do you know your “Break Even Point”?
This step is a natural progression to get accurate information to your accountant. Ideally there would be a liaison relationship between client and accountant and there shouldn’t be any surprises come the end of financial year.
For new businesses, or ones that just haven’t got around to implementing some good practices, call me for a consultation to work out what you need and what is the best path forward.