We are registered for Quality Assurance for BAS and Payroll Services.
So what does that mean for our clients?
We provide a wide range of bookkeeping services as detailed below.
We do not provide advisory work, but leave that to the expert accountants, CFOs, and coaches we collaborate with.
However, without accurate and timely bookkeeping, these advisors simply cannot do their jobs effectively. We’re here to provide the groundwork they need to give you the best possible service.
… It all begings with bookkeeping
ACCURATE, ON TIME, QUALITY ASSURED BOOKKEEPING SERVICES
BAS (Business Activity Statement)
It is our job to keep your business compliant, ensuring you meet your statutory obligations with the ATO in terms of your BAS lodgements. If you want a professional bookkeeper to handle your BAS, they must be a registered BAS Service Provider with the Taxation Practitioners Board.
Not only is our Director, Lucy Milekovic a registered practitioner, we also have 2 additional team members with full licensing. This ensures we always have a backup ensuring we can still legally take care of our clients. BAS deadlines, depending on your registration can be due quarterly or monthly and we are happy to work with your needs and specific compliance requirements.
Reporting
We love reporting! This is where all the hard work we put into your business file comes to life.
Accurate reports are empowering for business owners. A key tool to help you make informed business decisions. Making decisions based on how much you have in your bank account can be a decision that will haunt you for years to come. As a business owner you should review reports at least monthly and ask questions if you are not sure of something in that report.
Payroll Tax
One of the tightest deadlines in the bookkeeping world, with lodgement and payments due by the 7th of each month.
While no tax is popular, our clients struggle with the concept of needing to pay more tax when they are supporting the economy by employing staff. It is never good news when we inform a client that have reached a threshold and need to start paying this monthly state tax.
While it’s not good news, it is the obligation of the business owner to comply with this requirement and this is where Blue Amber Bookkeeping can help. It is a complex area of payroll and we are here to help to take the pressure off and keep you compliant.
IAS (Instalment Activity Statement)
This is a monthly lodgement obligation where clients need to lodge and pay any tax withheld from wages (PAYGW).
This is due to be lodged and paid with the ATO by 21st of each month, except when it is included in your quarterly BAS.
Our Standards of Service Policy stipulates we have this draft to our clients by the 5th of the month, allowing plenty of time for the client to review and plan for cashflow.
Superannuation
One area that the ATO shows no mercy! Superannuation is due INTO your staff superannuation accounts at least quarterly.
At Blue Amber Bookkeeping we give you plenty of notice (and reminders) to pay this superannuation on time. As a Xero only practice, we use the Xero superannuation clearing house to streamline this process and makes it easy for you. Superannuation payments is one of our favourite Xero features! We set it up in the file, you approve with a code, and it is direct debited from their account that night. Too easy!
Bank Reconciliations
Xero connects with your bank account and feeds data in daily for Blue Amber Bookkeeping to process and reconcile.
We have many clients that need us to update their file on a daily basis so they can be on top of their data at all times. We are happy to work in with your individual needs.
However, it does need to be done at least monthly. The bank reconciliation process is where most of the ‘data entry’ work is done in your Xero file and while we have rules established and matching to help with the process, it is important to have a bookkeeper with a trained eye to approve entries in the file.
Payroll
We believe your staff should be seen as your #1 creditor. They must always be paid accurately and on time.
We handle a large volume of payroll at Blue Amber Bookkeeping. Last financial year we processed payroll for over 3000 different employees on behalf of our clients.
Outsourcing payroll can we very advantageous to you by having a 3rd party take care of this activity. Being able to place onus on your bookkeeping company to not pay sick leave once it has been used up is a great example. It gives you distance from the interaction and removes emotion, allowing you to preserve the relationship between you and your employee.
Creditors (Accounts Payable)
We love working with clients that have a high volume of supplier invoices to offer them this highly valuable service.
Business owners don’t have the time to enter hundreds of bills every month and then schedule payments to ensure their suppliers are paid on time. We also need those monthly statements from your suppliers, and we ensure they agree with your file. It’s not unusual for invoices to be missed or for your supplier to have missed a payment you made. We check it all so you don’t have to worry and ensure everything is correct.
Debtors (Accounts Receivable)
Many of our clients will raise their own invoices to issue to clients, but many more, whose invoicing is more complex and for whom we provide invoicing as a daily service. If you don’t send your invoices, you won’t be paid. Slow or delayed invoicing has a direct impact on your cashflow situation.
As a general rule, if a client would type the same information into an email to us for invoicing as they would type direct into Xero, we would recommend they handle their own invoicing as we will not be saving them any time.
READY TO TALK BOOKKEEPING?
Call us any time, Monday to Thursday, on 02 9545 1111, or fill out the form below to send us a message.
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