How To Save Money On Your Bookkeeping Bills
Tue 9th Oct, 2012
The Benefits To You
- It will save you time.
- It will save you money, as it keeps bookkeeping hours at a minimum.
- The computer will generate your quarterly BAS's for you.
- Everything will be kept up to date & we can generate reports for you as required or on a regular basis.
- At the end of the financial year, your books will be ready to go to your accountant once the June's bank reconciliations, BAS, payroll and superannuation have been completed.
Suggestions For Smoother Processing
- Please keep your business/s, personal & investments transactions separate. If the need arises, transfer funds to one account to the other, to provide extra cash flow. Note: We don't need to see personal receipts. Have all your income & expenses flowing in & out of your retrospective bank accounts.
- Keep separate Bank Accounts - one for each of your business & one for each of the investments & separate ones for your personal transactions.
- Keep the investments separate if they are under different companies/trusts. (i.e. one bank account for each entity). If the need arises, transfer funds to one account to the other, to provide extra cash flow. Have all your rental & expenses flowing in & out of your business.
- Keep all loans separate.
- Have a separate credit card for your business. Keep the receipts & match to the Credit Card Statement.
- Attach the respective paperwork i.e. income & expenditures behind each bank statement for each bank account - for your business/s, investments & credit cards. Check your paperwork against your statements to make sure it's all there. Write any additional information on the paperwork that you think we need to know.
- If any purchases are brought by you personally, use the expense claim form to reimburse yourselves back (from the appropriate bank account, that the expenses relate to) & place all relevant documentation behind the form for processing.
- Every month, please send us the Bank Statements, with the relevant documentation attached behind each statement, including expense claim forms.
- Make sure you have tax invoices for everything you purchase so we can claim the GST component. No invoice will mean the GST cannot be claimed, as this is an ATO Ruling.
- Pay all your home office expenses for example electricity, gas & home telephone bills through your personal bank accounts. However, once these bills have been paid, pass them on to us, and I'll prepare them for your accountant for the financial year processing.
- If you're not sure about something - please ring, so it can be organised and set up correctly.