Selecting a Bookkeeper
What to look for
A bookkeeper can offer you a range of services. The first thing we need to establish is the level of services you require for your business. If you are simply looking for someone to enter the cheques and invoices into a computer, you may be missing out on a whole range of services that will save you time and money with your accountant.
Do you operate your business on a day to day basis with a 'money in, money out' approach? Do you know how much is left over for you as your reward for running your own business? Do you know what sales income you are expecting and the timing of its payment into your bank account?Symmetrii can prepare detailed forecasts and budgets for you to assist you in business planning into the future. Our aim is to demystify the accounting and compliance issues facing businesses today by supplying a comprehensive service keeping things as simple as possible and meeting critical deadlines.
Control your cash flow
Symmetrii can save you time and money by preparation of monthly, quarterly and year end data for your accountant or tax agent. This minimises the need for your tax agent to continually come back to you for more information and clarification.
Debtor Control is an area of frustration for many business owners. How do you make those unpleasant calls for payment of money which is rightfully yours without hindering an otherwise good relationship? By using efficient debtor collection procedures you’ll have a better chance of being paid on time.
A business can be profitable but still encounter cash flow issues. A cash flow forecast is the most important tool for business. The forecast will predict if your business will have enough money to support the operations and other activities you plan for the business such as expansion. It will also highlight any cash flow gaps the business may experience – periods when cash outflows exceed cash inflows.
Payroll and PAYG
Tax, Super, fbt & payroll tax
Symmetrii can ensure that your business needs are met on time, every time, helping you to streamline your payroll process. It is important to keep all your information up to date to be compliant with the new Fair Work Act 2009.
Payroll can be a strain on your management time. Every week you have to process the payroll as well as meet the ATO compliance requirements such as PAYG, superannuation, payroll tax and yearly FBT reporting. Prompt payment of superannuation is essential to avoid interest penalties and/or fines. If you operate your business as a company, you also need to withhold amounts from payments to company directors for their services. This also includes payments to other workers such as contractors.
Good record keeping enables you to provide these figures accurately to your tax agent or accountant.
SEE ALSO: BAS AGENT