We offer regular processing ranging from a couple of days per week to a just few hours per month, following our system and procedures, ensuring there is consistency and uniformity in processing – regardless of which Ascent Bookkeeping’s Bookkeeper has been assigned.
Our Bookkeeping Services
We provide:
- Ongoing Bookkeeping
- New Client Startup
- Rescue Jobs
- Reporting.
Ongoing Bookkeeping Services
Aged Receivables
- Data entry Debtor invoices
- Data entry Debtor payments
- Reconcile Aged Receivables
- Chasing overdue invoices.
Aged Payables
- Data entry Creditor invoices
- Pay bills
- Data entry Creditor payments
- Reconcile Aged Payables.
Payroll
- Process payroll
- Pay staff
- Liaise with Super Funds and lodging super returns.
Bank Account
- Process bank fees and interest
- Process DD.
Liabilities
- Payment/process PAYG/IAS/BAS
- Payment/process Staff super
- Payment/process loan/s.
Reconciliations
- Bank
- Credit Cards
- PAYG
- Staff super
- GST control accounts
- Loan accounts (including inter-company loan accounts).
Procedures and Manuals
- Updating Client’s Bookkeeping Manual.
BAS/IAS
- Lodging Monthly IAS & BAS
- Lodging Quarterly BAS.
End of Year
- Reconciling all BAS’ lodged for the year with the GST Control Accounts
- Reconciling wages, PAYG & Super before preparing Payment Summaries
- Providing accountant with data file and end of year reconciliations for Tax Return Preparation.
Reporting
- Monthly Profit and Loss and Balance Sheet
- Quarterly Financial Reports and analysis
- Quarterly Fitness Review (including graphs and charts).
ATO
- Liaising with the ATO re BAS’ and IAS
- Managing Payment Arrangements.
New Client Startup
If you are a startup business the process is straightforward:
- As Professional Partners with MYOB we will recommend the most appropriate software for your needs and advise you of our discounted prices to buy the software.
- One of our team will install the software, customize the Chart of Accounts specific to your business needs, customize Sales Invoices and set up the Payroll if required.
- We will introduce our system for organising your paperwork ready for processing.
- Depending on your needs we will arrange to do the processing on-site at your office or off-site at ours at an agreed time.
Rescue Jobs
What is a rescue?
It’s not deliberate. You had good intentions. Time runs away from you because you are busy running a business. Before you know it, it’s BAS time AGAIN and you know you’re going to have to spend the weekend getting it done.
Or maybe you had someone who you thought you could trust but got it all wrong because of their inexperience.
Over time the problem becomes so big that:
- It has taken over your office
- It keeps you awake at night
- You don’t know where to start
- You’re fearful that the ATO will call
- You have no idea how much tax or GST you owe
- You are completely in the dark.
It’s a horrible place to be but you’re not alone…we can help!!
What’s the good news?
Because every “rescue job” is as individual as you are we can’t say exactly what we need to do to clean it up, get you up to date or how long it will take.
During the initial consultation when we complete a “Health Check” we will explain to you what the problems are and what needs to happen to transform your data file into a source that provides you with reliable information.
Bookkeeping Issues
Essentially though we will do whatever it takes as quickly and efficiently as possible. Some of the issues we will address are:
- Bank Accounts or Credit Cards that don’t reconcile with the Statements
- Old unpresented transactions in the Bank Account or Credit Card
- Trade Debtors and Trade Creditors don’t balance with the Balance Sheet
- The Trade Debtors and Trade Creditors aren’t “real” i.e. outstanding invoices and bills have already been paid but still showing as outstanding.
- Incorrect previously lodged BAS’
- Payroll Categories that are incorrectly set up therefore giving you incorrect information in Payslips, AL & SL Accruals, incorrect Tax Tables, SGC Calculations and Payment Summaries
- Unreliable Inventory figures.
The implications of these issues are:
- You may be paying the wrong GST, Tax and Superannuation
- You may be subject to fines and interest
- You may be making strategic business decisions based on unreliable figures with dire consequences.
Financial Reporting
Making sure all the compliance requirements are fulfilled is good bookkeeping. What empowers our clients around their finances is providing them with meaningful reports.
We can provide the standard set of Profit and Loss reports from but if you need more information we can provide you with a variety of reports to suit your budget and your needs.
