Melbourne-Bookkeeping.Com.Au

12 Jan 09The ATO advises that:” if you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)

With Christmas out of the way, and many small businesses returning to work, it’s time to get all your paperwork together and get it to your bookkeeper or outsourced bookkeeping service- to report on the 2nd quarter (1 September to 31 December 2008) to get your BAS lodged on time.

Maybe the Australian Taxation Office (ATO) does have a heart, after all. Rather than asking for lodgements on 28 January, they automatically give everyone an extension to the BAS lodgements to 28 February.

However, don’t be fooled by their grace, because there is NO WAY that they’ll consider granting an extension after that date. So you need to ensure that you have your Business Activity Statement lodged by 28 February 2009

If you are struggling and need help, if you do not have a bookkeeper, or are looking to outsource to a mobile bookkeeping service, then contact us now

Our bookkeeping Service has clients in and around in the City of Moonee Valley, Pascoe Vale South, Coburg North, Keilor East, North Essendon, Inner Northern Suburbs of Melbourne. Contact us here for details

We are constantly amazed by the attitude of some small business owners towards their finances.

Whilst it may be true that you can get a friend or relative to do your bookkeeping, how can you be sure that they are doing the job correctly?

When the going gets tough, they see their bookkeeper as an unnecessary expense. Some small business owners do not have a bookkeeper, believing that their wife, partner, husband, aunty,cousin or friend can do the books at “mates rates” or even at zero cost.
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It’s BAS season again, and the phone’s running red-hot.

It’s not unusual for a small business owner to contact us from the areas around Melbourne inner suburbs Fitzroy, Richmond and Toorak, Coburg North, Keilor East, North Essendon wanting to know how to complete their Business Activity Statement, that’s due on 28 October 2008.

I just need some help with Payroll, and BAS lodgements

Generally the problem is not with the BAS itself, rather it’s with the allocations and the data entry. So often we’ve seen clients who want to save money on bookeeping fees, by them trying to do the bookwork themselves.

Investing a few dollars in a good bookeeper once a quarter to help with your BAS can save you money

By not fully understanding the process, there’s a danger that your figures are incorrect, and you are declaring a higher Tax liability than is correct, and so you will be out of pocket.

Smart business owners understand that by investing a few dollars in a good book-keeper once a quarter, they actually end up ahead, compared to trying to sort out the bookwork themselves.

“I’m quite proficient with MYOB, but I just need some help with Payroll, and BAS lodgements, can you help?”

We often get telephone calls like this - Sometimes we an even help people over the telephone, there and then. Some clients need us to spend a couple of hours with them training to use the MYOB accounting package.

If you need help calculating your BAS from MYOB, then contact us HERE, sometimes it can be simply explained over the phone. Or we can look at your MYOB file and help you work out the BAS. Rather than getting stressed, contact us today

Other clients just need some extra help in working their way through the software to streamline their bookkeeping. Often we get referrals from book keeping clients who are very happy with the bookeeping service that we provide.

Contact Us when you need some help with your bookwork, or some training with your MYOB accounting software

You’ve bought MYOB because your mate in Fitzroy said that was the accounting software he was using. Now what?

It’s like buying a car, but not being able to drive. When you learn to drive, do you really need to know how the car works, or how many revs, or where to put the oil in the car?

Most people just want to get in the car and drive - with a goal of getting from Richmond to Toorak (or wherever).

Most business owners do not have the time or the inclination to attend a MYOB course

Accounting software is much the same: you don’t need to know how it all works, you simply want to be able to enter invoices, receipts and spit out a few reports whenever required. That’s why many people contact us, and we teach them how to do the basics to learn MYOB for their business

Yes, you can go to TAFE and attend a MYOB training course if you so desire. Most business owners do not have the time or the inclination to attend a MYOB course. All they want is to know how to do the basics of bookkeeping to ensure they have a handle on their finances.

Smart business operators appreciate the benefits of outsourcing their bookkeeping requirements, so they’ll just do the minimum to keep on top of the bookwork, and have the bookkeeper can come in and do the rest. Contact us for details.

One advantage of the introduction of the GST was initially to force you to review your finances on a quarterly basis resulting in a greater awareness of your ongoing financial position.

This has led to many small businesses around Ormeau and Yatala utilising a computerised accounting software package such as MYOB or Quickbooks to do the hackwork and present you with the necessary reports and if required even the BAS itself.
However, owning the software does not make you a bookkeeper, and whilst the software companies have done their best to make the packages easy to use, the operator still needs a basic understanding of bookkeeping.

Outsource your bookkeeping to free your time to do what you do best

We’ve helped many small business owners with book-keeping, and we can help you. By outsourcing your bookkeeping needs you can free up your time to do what you do best in working your business, while we do what we do best, working on the bookkeeping side of your business

The work of a bookkeeper is not the same as that of an accountant. Indeed, many accountancy firms employ or subcontract bookkeepers to prepare the figures for their financial reports.

Bookkeepers enter all the data, invoices, receipts, dockets, and match up the money that comes into a business with the money that goes out of the business.

The bookkeeper will reconcile the bank accounts, make sure that all the figures entered into the general ledger match the figures on the bank statement.

Accountants will look after the taxation matters of a business – they are professionally qualified and keep upto date with all the updates and changes in tax laws and rulings from the Australian Taxation Office

The finer points of accounting and taxation are best left to the professionals whose job among other functions is to keep you updated with changes in taxation as well as maximise your deductions. Your book keeper should be able to prepare a reconciled trial balance.

You can do the bookkeeping yourself if you have some knowledge of simple bookkeeping and know your way around a computer, but many small business owners do not have the time or the inclination to do the necessary bookwork each week

Contact us for more details.