FREED UP Accounting & Bookkeeping Solutions specialise in a range of ongoing business bookkeeping including:
- Processing of accounts, invoices and transactions
- Payroll setup and management (PAYG)
- BAS calculations and lodgements
- Profit and Loss
- Cash flow monitoring
- End of Financial Year Preparation including providing a data file and end of financial year reconciliations for Tax Return Preparation
- Reporting including monthly profit and loss balance sheet, quarterly financial reports and analysis and quarterly fitness reviews including graphs and charts.
- All Bookkeeping/Accounting functions
We will ensure the bookkeeping process of starting a business is straight forward:
If you are a start-up business the process is straightforward:
- As Professional Partners with both MYOB and Xero we will recommend the most appropriate software for your businesses needs.
- Purchase your software for our discounted price.
- One of our team of specialists will install the software, customise the chart of accounts specific to your business needs, customise sales invoices and setup the payroll if required.
- Introduce the Pure Bookkeeping System for organising your source documents ready for processing including setting up Hubdoc or Receiptbank where appropriate.
- Regular processing of your business’s bookkeeping on-site at your office or remotely at an agreed time.
Many business owners/managers spend countless hours running their business that time gets away from you. Before you know it, your BAS is due and you are too time poor to get it done.
The longer you leave the issue, the more it escalates and before long the issue is causing you unnecessary stress, keeping you awake at night, making you fearful that the ATO will call you and you just don’t know where to start to get on top of what you need to do.
During your initial consultation, we will complete a Health Check to identify and clearly explain your business’s bookkeeping issues and what needs to happen to transform your data file into a source that provides you with reliable information.
It’s what we call “The Bookkeeping Monster!”
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.
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 un-presented transactions in the Bank Account or Credit Card
- Debtors and Creditors don’t balance with the Balance Sheet
- The Debtors and 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 setup therefore giving you incorrect information in Payslips, AL & SL Accruals, incorrect Tax Tables, SGC Calculations and STP
- Unreliable Inventory figures
The implications of these issues can be:
- 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
FREED UP Accounting & Bookkeeping Solutions can have your bookkeeping back in order in no time to:
- Have all your bookkeeping and reporting up to date quickly and efficiently
- Give business owners accurate figures on how much tax or GST is owed
- Empower business owners in their financial matters
- Alleviate stress and worry from the business owner/manager
- Free up time for the business owner/manager to focus on growing the business
Making sure all the compliance requirements are taken care of should be a given.
Unfortunately, not every bookkeeper has the experience or qualifications, that you can trust, to ensure all the compliance requirements are taken care of. At FREED UP Accounting & Bookkeeping Solutions we guarantee our quality of the work and will empower you around your finances by being your trusted advisor to help you navigate your way through the complexities of running a business.
You may be thinking Isn’t that for an accountant to do? Not necessarily. Many accountants provide tax advice and some are qualified to provide financial advice. You may talk to them a couple of times a year for advice about the best way to purchase an asset such as a motor vehicle and hopefully they will be proactive enough to give you advice on how you can minimise your tax. As registered BAS Agents, we are not qualified or insured to give you that kind of advice however, we will work closely and collaboratively with your tax accountant to provide them accurate information in a timely manner so they can give you the right advice you need.
As your trusted advisor, we are committed to working closely with you to enables us to:
- Gain a better understanding of your business and your goals
- Use our experience to give you insights into what your numbers mean
- Help you manage your cash flow and budgets
- Help you achieve your business goals.