If you’ve been reading up on how we help small business, you’ll see that we offer 100% remote bookkeeping services.
We’re passionate about helping as many small businesses as possible – in order to be able to extend our reach to businesses across Australia – we run our business in the Cloud.
This is how our bookkeeping process works.
Using our Digital Receipts Management System, you’ll upload your supplier tax invoices and expense receipts each week using either the phone app (snap and send) or via a dedicated email address. This information is all provided to you as part of your Onboarding Process.
Our team cross checks the source data coming in and exports it to Xero, one document by one, ensuring accuracy of processing and a high integrity of data. Digital copies of all documents you submit are kept and filed within this platform in addition to being attached to the relevant transactions within Xero.
At least once a week, we reconcile your bank statement feed in Xero, matching up the bills you’ve submitted electronically as they appear in the feed then reconciling payments received from Customers as they match the invoices you’ve generated. All regular loan payments, bank fees and subscription fees are reconciled at this point as well as Payroll Processing (if we’re looking after that for you).
As much as we would love to know it all, sadly we don’t. That’s where our weekly Reconciliation Query Reports come in. Throughout your reconciliation session, if we require clarification of a transaction or additional source data in order to process it properly, we’ll pop a note down and send a short list through to you. Those items that are unaddressed will carry forward until we prepare your BAS, where they will HAVE to be addressed 🙂
At the end of the Month or Quarter, depending on how you’re registered for GST & PAYGW with the ATO, we’ll work through and conduct a full audit of your accounts for the period, double checking the accuracy of allocations, coding and processing of GST. Once we’re satisfied that we have the accounts as accurate as possible, we prepare your BAS and submit it to you electronically to Authorise. Then lodge with the ATO on your behalf, updating Xero and your Balance sheet as we go.