services
Bookkeeping and COMPLIANCE
Specific tasks we offer include classifying transactions in Xero, matching bank statements with recorded transactions, preparing and filing GST returns, creating and tracking sales invoices and bill payments. This service ensures that all financial data is captured and recorded accurately in a timely manner, ensuring that your financial records are up-to-date and accurate when it comes time to file GST returns or submit them to your tax accountant for end-of-year tax preparation and income tax filing.
Payroll
Our payroll service handles employee payments, manages PAYE (Pay As You Earn) taxes, and fulfills payday filing requirements. This service is ideal for businesses with up to 10 employees.
Business ADVISORY
Our financial reporting service provides high-quality financial information to your business, to support decision making. It helps you to have the information at hand when important business decisions are needed. For example, it allows you to evaluate your profitability, compare your revenue to the previous year, and determine if you can afford to hire additional staff members.
Details of Our Services
We offer a range of services to help you keep your financials up-to-date and tailored to your specific needs. Some examples of customizable services are provided later in this page. However, the specific service for each client is unique and must be customized to their individual requirements.
Steps
The initial step in working with us is to schedule a complimentary consultation to determine the services that would be most beneficial to you. This is referred to as the job scope and is an opportunity to clearly define the responsibilities, timelines, and requirements of the project. This process also allows both parties to ask any questions and address any concerns.
The next step is to discuss pricing options and formalize our agreement through a Letter of Engagement, outlining the specific responsibilities and expectations of each party.
Finally, we offer a complimentary review after a few months of service to ensure that the engagement is meeting the needs of the business owner and making the most impact. This review can be requested at any time by either party.
Getting Value from your Bookkeeping
Our primary focus is to provide value to our clients by delivering precisely what they need. Our services range in price from $50 per week to $2,500 per month for a full-service package. Additional value-added services include Xero conversions, payroll setup, and cleanup of historical financial data. Factors that can affect the ongoing fee for services include the number of transactions on your bank statement, the level of automation currently set up in your Xero, the number of sales invoices and bills issued and received, the frequency of GST returns, the number of transactions that regularly need removing and redoing, the number of reports needed, and the general complexity of keeping the data tidy and fit for purpose.
An important factor in getting value for your bookkeeping fee is to carefully consider the division of tasks between the bookkeeper and the business owner. Some business owners find that after a little training and Xero setup, they are able to do much of the day-to-day work themselves. For start-ups, we recommend that business owners consider doing some bookkeeping themselves. For larger businesses, we recommend outsourcing more work to a bookkeeper unless the business owner is interested in learning more advanced features of Xero.
Examples of Services
The table shows six of the most common bookkeeping tasks and three different ways the bookkeeper could help out. There are many additional ways the tasks can be divided up between bookkeeper and business owner depending on the unique needs of the business.
The common theme across all our services is that we work in with your specialised tax accountant who carries out the more specialised year end work.