Business Support
Peace of Mind & Control
Right Person for the Right Job
Bookkeepers and accountants both play important roles in managing the finances of a business, but they have different responsibilities and areas of expertise. Here are some key differences between the two:
Bookkeeper -v- Accountant
Scope of work
- Bookkeepers are responsible for recording and organizing financial transactions, such as sales, purchases, and payments.
- Accountants, on the other hand, analyse and interpret financial data, prepare financial statements, and provide strategic financial advice on an annual & adhoc basis.
Cost
- Hiring a bookkeeper is less expensive than hiring an accountant. By having a bookkeeper handle the day-to-day financial tasks, the accountant’s time can be focused on higher-level analysis and strategic planning, reducing overall costs.
Collaboration
- A Bookkeeper can work directly with an accountant, providing them with accurate and organized financial records. This can save time and reduce the risk of errors, as the accountant will have all the information they need to do their job effectively.
Level of analysis
- Bookkeepers focus on the day-to-day financial operations of a business, while accountants provide a higher level of analysis, looking at the overall financial health of the business and providing insights and recommendations.
“A Bookkeeper will bring significant value to any business by managing the day-to-day financial tasks, reducing the workload and costs of an accountant, and collaborating with them to provide accurate and organised financial records.”
Core Bookkeeping services
Recording transactions (It’s the law remember)
Your Bookkeeper will ensure all records are kept for all financial transactions, including sales, purchases, and payments all in a timely and accurate manner.
Bank Reconciliations (real reconciliations)
Your Bookkeeper will ensure your bank transactions reconcile to your records and that al transactions are complaint and accurate.
Accounts Payable
Your Bookkeeper will manage accounts payable, keeping track of how much the business owes, to whom and when payments are due.
Payroll Processing
Your Bookkeeper will ensure payroll is accurate and all ATO submissions are completed and provide timely support to your staff.
Get back in control
Get back your sleep
BAS - Business Activity Statement
Why should I care about BAS?
Caring about BAS reporting ensures compliance, accurate financial records, and a smooth relationship with the ATO.
A Business Activity Statement (BAS) is crucial and here is why.
Tax Obligations Consolidated
The BAS acts as a consolidated report where you declare various tax obligations for your business. It covers essential elements such as Goods and Services Tax (GST), Pay as You Go withholding, Pay as You Go instalments and Fringe Benefits Tax (FBT)
Accuracy and Timeliness
By systematically reporting through BAS, you ensure that your business provides accurate and timely information to the Australian Taxation Office (ATO). This helps the ATO stay informed about your tax liabilites – both the amount of tax you have collected and paid.
GST Registration Threshold
Did you know that if your annual turnover exceeds $75,000, you must be GST registered. Did you also know that Taxi drivers and ride-sharing service providers must register regardless of their turnover.
Let us take the risk
out of your business.
Expense Management
Receipts & invoices everywhere
Managing receipts & invoices is a headache for every company and every bookkeeper. We are not accepting that.
All of our clients get access to Dext, an online and mobile app based receipt management tool. We are dedicated to ensuring expense management is a clear, stress free process, giving you clarity and a clear understanding of your business expenses.
Reporting
Clarity through Visibility
Whether you are a business of 1 or 100 you deserve and need great reporting. Living by our mission of providing dynamic financial support we provide every client with the benefit of monthly ’12 month rolling’ reporting, providing graphical representation of the business.
These reports are a catalyst for growth, improvement and the knowledge you need to make decisions.
