Find bookkeepers in Melbourne by a CPA Qualified Accounting Professional.
Find bookkeepers in Melbourne Services provides experienced affordable solutions to small businesses in any industry. We offer a remote or onsite service.
- Transaction Processing
- Accounts Payable and Receivable
- Debtor Management
- Financial Reporting (Balance Sheet)
- Operations Reporting (Profit & Loss)
- General Ledger Maintenance
- Bank Reconciliation
- Budgeting and Cash Flow Forecasting
- Management Reports
- Job Profit and Loss
- Advanced Excel Skills
- BAS Preparation
- New company set up
- Stock Control
Outsourcing Your Bookkeeping
By outsourcing you will be allowing a CPA Qualified Accountant to process and maintain the complete accounting function for your business. You can rest assured that your books are in experienced hands which will allow you to focus on managing and growing your business.
Find bookkeepers in Melbourne Outsourcing your bookkeeping is more cost effective than hiring employees as you can use the services as you require.
Find bookkeepers in Melbourne Offsite Bookkeeping
We can come to you and pick up your files and your books can be completed offsite.
Find bookkeepers in Melbourne Onsite Bookkeeping
If you prefer to have your books completed onsite we can come to your office at a time that suits you.
Accounts Payable & Accounts Receivable
Accurate accounts receivable and accounts payable management is very important for your business to manage its cash flow.
Having an accountant process your transactions will ensure that you have complete compliance with regulatory authorities and that GST is accounted for accurately.
Leave the mundane data entry to us and your company’s books will be kept completely up to date and maintained.
Accounts payable is the daily processing of invoices. This involves reviewing invoices and payments for accuracy. Other responsibilities may include reconciliation of payments and account monitoring.
Accounts receivable involves creating invoices for products or services that your business has supplied. It is essential that all transactions are entered accurately and that debtors are making payments by the due date.
Some of your customers may not make payments on time and this will impact your cash flow. We can help you chase your debtors to collect monies that are owed to your company.
When the company receives its bank statement, the company should verify that the amounts on the bank statement are consistent with the amounts in the company’s Cash account in its general ledger. The benefit of reconciling the bank statement is knowing that the amount of cash reported by the company is consistent with the amount of cash shown in the bank’s records.
Reconciling the amounts on the company’s books with the amounts on the bank statement can be time consuming. The process is complicated because some items appear in the company’s cash account in one month but appear on the bank statement in a different month.
The business activity statement (BAS) is a form submitted to the Australian Taxation Office by all businesses to report their taxation obligations and these include PAYG withholding tax.
Although activity statements are usually submitted quarterly some entities are required to report obligations on a more frequent basis. Some entities may be required to report PAYG Withholding liabilities or GST on a monthly basis.
New Company Set Up
If you are starting a new company you will need to first select the accounting program you want to use and then set up a company file. This will entail setting up bank accounts, general ledger accounts, suppliers and customers. You will also need to have customised forms set up in your accounting program to ensure that your logo and other business details are being presented correctly on any document you are issuing to your clients and suppliers.
Management reporting is the process of providing management with timely, accurate and relevant information that is designed to assist in the strategic and operational management of a business. With advanced excel skills we can help you to design and implement useful management reports.
Effective management reporting is critical to management in making appropriate decisions for the efficient and effective delivery of objectives and services. Developing management reporting structures and formats are fundamental elements in providing management and staff with accurate and timely information.
By focusing on timely and effective management reporting agencies benefit from:
- improved decision making
- improved management effectiveness
- more efficient use of resources in the delivery of agency services
- increased confidence in the quality of management decisions by agency staff
- improved responsiveness to issues as they arise
Reports can be set up as standard reports which are generated on a regular basis, or ad hoc reports which are developed in response to specific agency demands. Ad hoc reports should be available to management in timeframes and formats that allow effective and timely decision making by management.
Financial Reporting (Balance Sheet)
A balance sheet shows a business’s financial strength at the end of an accounting period.
A balance sheet is a record of what has happened in your business right from the start. The balance sheet shows your assets and liabilities.
The balance sheet also contains information and figures you can use to measure the health and profitability of your business. These are called key performance indicators. Comparing key ratios to other businesses and against figures from previous periods will help you identify areas where you need to take action.
Operations Reporting (Profit & Loss)
A profit and loss statement provides a picture of your business’s trading performance over a defined period such as a month or a whole financial year. It records sales, expenses, profits or losses and any tax payments for the period.
The profit and loss statement allows you to analyze your gross profit and net profit margins. These can reveal trends that enable you to make timely business changes.
Job Profit & Loss
For a company that involves a large amount of invoices per project, for example a building company, the revenue and expenses per project can be assigned a job number and the profit or loss per job can be easily determined. This can be useful in determining if the project has gone over budget and the areas that have contributed to the overall profit or loss.
Budgeting & Cash Flow Forecasting
Budgeting helps to aid the planning of actual operations by forcing managers to consider how the conditions might change and what steps should be taken now. Budgets are also necessary for encouraging managers to consider problems before they arise. It also helps co-ordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments. Other essentials of budget include:
- To control resources
- To communicate plans to various responsibility center managers
- To motivate managers to strive to achieve budget goals
- To evaluate the performance of managers
- To provide visibility into the company’s performance
- For accountability
- Cash Flow Forecast
A cash flow forecast is an estimate of the amount of money you expect to flow in and out of your business and includes all your projected income and expenses. A forecast usually covers the next 12 months; however it can also cover a short term period such as a week or month.
Cash flow forecasts can help predict upcoming cash surpluses or shortages to help you make the right decisions. It can help in tax preparation and planning new equipment purchases or identifying if you need to secure a small business loan.
You can use your cash flow forecast to check if your business is meeting your expectations. Comparing your actual income and expenses with your forecasts can identify areas where your business is over or under performing. Reviewing your actual performance against your forecasts alerts you to any variance so you can investigate and find out why there is a difference.
Stock control includes tracking and accounting for the items you sell, use or manufacture. The stock control system you use will depend on the size of your business and the type of stock you have.
There are four main types of stock:
- raw materials
- work in progress
- finished goods
Knowing what stock to buy, when to buy it and how much to buy is essential for good stock control.