As a business, you must keep detailed records for all transactions related to your tax, superannuation and business transactions so you can manage your business, employer obligations and cash flow well.

However, how much of this ‘unbillable’ activity is eating into your personal time? If you take into consideration all the extra hours you put into invoice clients, pay suppliers, chase payments, process payroll, itemise your expenses, prepare your BAS, check and respond to emails, and keep up to date with all your industry news…… it can feel like a part-time unpaid job on top of a full-time job!

This is where we can help. We use MYOB – QuickBooks which is an easy online accounting software especially built for small businesses. We can help you implement time saving accounting software and also support you with a bookkeeping service that corresponds to your business size and sector. It creates your invoices for you, helps you manage your expenses and report Single Touch Payroll to meet the ATO requirements and much more. We also advise our clients to use the Receipt Bank app, an online system that automatically converts your receipt into data masking it super easy for you to send your expenses information straight to us. You just have to take a photo and upload it. The ATO can audit you at any time, and for any year within the last five years, so should you need to put your hand on a receipt to prove a deduction, it’s already in the system.

We also make sure that you understand the record keeping rules set by the ATO. We appreciate there has been a lot of changes during the past two years with schemes to help businesses during the pandemic, so please let us know if you have any questions so we can help guide you through.

With the year drawing to a close, think about starting the year fresh with all your business records up to date and a system in place that will help you get organised and save time!

Get in touch! 08 9240 7629