OUR SERVICES
Bookkeeping Services
REPORTING
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Financial year end reporting
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Trial balance
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Profit and Loss
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Balance Sheet
EOFY SERVICES
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TPAR reporting
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end of year BAS reconciliations
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end of year Payroll reporting
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STP year end reporting
BAS Services
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Lodgement of BAS
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Lodgement of IAS
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Lodgement of PAYG
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Lodgement of STP
PAYROLL SERVICE
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Payroll process -weekly, fortnightly, monthly pay runs.
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Preparation of pays from time sheets
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Salary or hourly employees
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Full time, part time, casual, contract, overtime.
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Annual sick and long service leave
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Superannuation
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Single touch payroll
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End of payroll year reconciliations and preparation of files for accountant
ACCOUNTS PAYABLE
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Enter invoices
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Monitoring of aged payables
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Schedule payments
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Petty cash
ACCOUNTS RECEIVABLE
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Invoicing clients
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Receiving money
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Deposits
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Creditors Management
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Statements
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Monitoring of aged receivables
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Following up overdue payments
Rescue Jobs
What is a rescue?
It’s not deliberate. You had good intentions. Time runs away from you because you are busy running a business. Before you know it, it’s TAX time AGAIN and you know you’re going to have to spend the weekend getting it done.
Or maybe you had someone who you thought you could trust but got it all wrong because of their inexperience.
Over time the problem becomes so big that:
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It has taken over your office
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It keeps you awake at night
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You don’t know where to start
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You’re fearful that CRA will call
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You have no idea how much income tax or H/GST you owe
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You are completely in the dark
What's the good news?
We can tame The Bookkeeping Monster because we have a team of highly skilled and dedicated bookkeepers who use The Pure Bookkeeping System to empower business owners in their financial matters, removing confusion, fear and uncertainty and replacing it with clarity, freedom and control.
Because every “rescue job” is as individual as you are we can’t say exactly what we need to do to clean it up, get you up to date or how long it will take. During the initial consultation when we complete a “Health Check” (link to Health Check) we will explain to you what the problems are and what needs to happen to transform your data file into a source that provides you with reliable information.
Essentially though we will do whatever it takes as quickly and efficiently as possible.
Bookkeeping Issues
Some of the issues we will address are:
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Bank Accounts or Credit Cards that don’t reconcile with the Statements
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Old outstanding transactions in the Bank Account or Credit Card
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Trade Receivables and Trade Payables don’t balance with the Balance Sheet
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The Trade Receivables and Trade Payables aren’t “real” i.e. outstanding invoices and bills have already been paid but still showing as outstanding
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Incorrect previously remitted HST and source deductions
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Payroll Categories that are incorrectly set up therefore giving you incorrect information
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Calculations and Payment Summaries
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Unreliable Inventory figures
The implications of these issues are:
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You may be paying the wrong HST, Income Tax and Source deductions
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You may be subject to penalties and interest
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You may be making strategic business decisions based on unreliable figures with dire consequences
Reporting
Making sure all the compliance requirements are fulfilled is good bookkeeping. What empowers our clients around their finances is providing them with meaningful reports.
We can provide the standard set of Profit and Loss reports from QB or Simply but if you need more information we can provide you with a variety of reports to suit your budget and your needs.
Quarterly Financial Reports
In this report, we make comparisons of this year to last year, this quarter to the same quarter last year and this month to last month. We include the COGS and Expenses represented as a % of the Sales.
A copy of this report also goes to your Accountant so that they can see in a snapshot, where your business is at and to give a more in-depth analysis of the story behind the figures.
We recommend this for micro to small business owners who don’t want to grow their business beyond what they can manage themselves and at a cost of $95 per month it’s affordable for this size business.
Monthly Strategic Board Reports
This set of reports is suitable for business owners needing to make strategic decisions month by month.
It includes:
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KPI reports (customised for your business)
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Budget analysis
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Cash Flow Analysis
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A session with a Specialist Bookkeeper to determine your specific KPI’s
At a cost of $150 per month with a $300 set up cost it will give you specific information about your business so that you can make strategic financial decisions
Quarterly Board Reports
Most Sole Proprietors or small to medium sized businesses don’t have a “Board” that they are required to report to each month. We encourage our clients to think and behave they are larger than they really are which has a flow-on effect of generating growth in their business.
On the other hand, some business owners keep a lot of the financial information in their head and manage to run their business successfully for many years. There usually comes a point though where the business has outgrown them and they need to share part of that load. The only way of doing this successfully is to have a set of reports that can be discussed with all the shareholders in the business.
The Quarterly Board Reports include:
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The Fitness Review (Board Report) which examine five KPI’s in the business: Cash Flow, Sales, Gross Profit and Net Profit
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Accounts Receivable and Accounts Payable Collection Rate
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Current Ratio
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The Quarterly Financial Reports
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An analysis by a Specialist Bookkeeper:
At a cost of $440 per quarter with a setup fee of $550 it’s an affordable set of specific reports which will greatly benefit your business.