Accounting & Bookkeeping

Transactions include purchases, sales, receipts and payments by an individual or organization, whereas, Bookkeeping involves the recording of financial transactions by an individual or organization. It is a legal requirement to keep records that are accurate and true for a period of at least 5 years from the date that the documents were prepared, obtained or the transaction completed, whichever occurs the latest. Being compliant on this front can be a very time-consuming process and causes many headaches for small and medium business in Australia. In the rapidly changing world, accurate and timely financial accounts can mean the difference between business success and failure or between a good business and a great business.

Let us relieve you and your staff of an enormous burden by taking care of all your accounting and bookkeeping needs. We are experts at preparing your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.

We also offer set up accounting software and training for a client including MYOB & QuickBooks.

We will fully discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis on all accounting, bookkeeping & payroll matters.

We empower our clients to do what they do best to run a successful business.

It includes:

  • Bank Reconciliations – compare your internal records with bank statements in order to identify and rectify any discrepancies
  • Profit & Loss Statements – generated monthly or annually that reports the earnings of a business by stating all relevant income and all expenses that have been incurred to generate that income. Also referred to as an Income Statement.
  • Cash Flow Management – manage your cash flow to ensure you have cash when you need it. This is the most critical aspect of business.
  • Financial Reporting & Analysis – key information about the financial state of your business into language you can understand.
  • Accounts Payable & Receivable – identify money you owe suppliers and money that is owed to you by your customers.
  • End of financial year processes – take away all the pressure associated with ensuring your books are ready for the end of financial year.
  • Budgeting – forecast your income and expenditure in order to identify how much you afford to dedicate to particular expenses.

Payroll processing services include:

  • General Payroll – ensure your staff are paid the correct rates and paid according to the correct hours worked.
  • PAYG Withholdings – Any business that has employees or pays employees of another business must withhold an amount from payments made to them. Any payments made to a business that doesn’t quote an ABN on an invoice or other documentation must also have an amount withheld from payments.
  • Entitlements – calculation of leave including holiday, personal, long service and roster days off.
  • Payroll Tax, Workers Compensation Insurance, Employment Forms – some or all of these may be needed for your business.
  • Efficient and Electronic systems – these should simplify all processing and provide greater security for you and your staff.

Design & Developed by: Techsolutionsbd