Our Services
Every business is unique and whilst many functions are similar, we tailor our services to suit your individual needs.
Is a digital link between your account and the accounting software, which automatically imports bank transactions into your accounting software on a daily basis.
Assigning transactions from bank feed to the appropriate expense or income categories in the accounting software for accurate financial reporting.
Developing a financial plan for a specified period, estimating income, expenses and investments to guide financial management and control.
If you are registered for GST you must complete this government form, summarising the GST charged and paid throughout a specific period and lodge it with the ATO on either a monthly or quarterly basis. It may also include PAYGW and PAYGI if your business is required to report. This is lodged via an ATO Portal.
Forecasting future cash inflows and outflows to assess the financial health of a business and make informed financial decisions.
End of Financial Year (EOFY) processes include reconciliation and finalisation of the payroll records and submitting PRIOR to 14th July the necessary reports to ensure accurate reporting to the ATO. This replaces what were once called Group Certificates or Payment Summaries. Once this is done the employees can access their payment summaries via their MyGov accounts.
Comparing and reconciling the balances of accounts in the general ledger with supporting documentation, ensuring accuracy and integrity of financial records.
Goods and Services Tax (GST) is a tax of 10% on most goods, services and other items sold or consumed in Australia. If you are registered for GST, you have to collect this extra money from your customers. The GST amount collected less the GST amount you have paid on business purchases must be reported and paid to the ATO (Australian Tax Office) either monthly or quarterly via the Business Activity Statement (BAS).
If you withhold more than $25,000 to $1 million in PAYGW a year, even though you are GST-registered and preparing BAS quarterly, you must lodge the IAS to report your PAYW to the ATO monthly. This is lodged via an ATO Portal.
When you employ staff, the Australian Taxation Office (ATO) requires a Report called Single Touch Payroll (STP) to be lodged each time you pay an employee. This report sends all employee payments including leave and superannuation as a way to streamline payroll reporting obligations.
Preparation and analysis of financial reports to provide insights and support decision-making for management.
Electronically managing employee wages, salaries, leave entitlements and related financial records including calculation of taxes, superannuation contributions and deductions
When you pay your employees you must withhold a certain amount of tax from their wage/salaries. You then report and send this amount to the ATO. The employee can then claim against the amount withheld at the end of the financial year.
Pay as you go instalments (PAYGI) is a regular prepayment of the tax on your business and investment income. This is an amount nominated by the ATO which is based on the business’s previous financial years’ Tax return. Businesses may alter this amount if they believe there will be a change in business earnings for the current financial year.
This report is only required by certain industries. To see if your business is required to submit a TPAR, check the ATO website. The TPAR reports all payments to subcontractors including ABN, Address and the amount of GST withheld from all invoices. Before submitting this report, these payments must be reviewed and reconciled against corresponding accounts and all subcontractor’s information must be completed.
WorkCover insurance is compulsory for employers. The insurance covers employers if their workers are injured or become ill because of their work. You must take out a WorkCover policy if you expect to pay more than $7,500 a year in wages.
If your business is covered by WorkCover you are required to report total wages, including all superannuation payments, Fringe Benefits tax and payments made to employees to Worksafe at the end of the financial year, as well as estimate of these amounts for the next financial year. For this to be done all wages categories need to be reconciled to enable correct reporting. If there is a change in circumstances in employees ie increased or reduced number, the estimate should be updated throughout the financial year.
Our Services
Every business is unique and whilst many functions are similar, we tailor our services to suit your individual needs.
- Bank Feed
- Bank Feed allocations
- Budgeting
- Business Activity Statement (BAS)
- Cashflow Projections
- EOFY STP Reconciliation/Finalisation
- General Ledger Reconciliations
- Goods and Services Tax (GST)
- Instalment Activity Statement (IAS)
- Instalment Activity Statement (IAS)
- Lodgement STP
- Management Reporting
- Payroll
- Pay as you go withholdings (PAYGW)
- Pay as you go instalments (PAYGI)
- Taxable Payment Summaries – reconciliation and lodgement
- WorkCover
- Workcover reconciliation and lodgement