Our Services

LET US BE YOUR ACCOUNTS AND PAYROLL DEPARTMENT…

 

GENERAL BOOKKEEPING

Accurate and up to date bookkeeping is a necessary task for any small business owner who plans on running a successful profitable business that will grow over time.

Balanced Bookkeeping and Business Solutions can process your accounts from scratch based on bank statements, invoices and bills keeping you up to date and on track.

Process ensures:

  • Invoices are issued in a timely manner – maintaining positive cashflow
  • Income and expenditure transactions are not missed
  • Make sure claim the correct GST amounts

 

ACCOUNTS RECEIVABLE

Keep track of money owed to your business

Balanced Bookkeeping and Business Solutions can prepare invoices for you, send them to your clients directly, keep track of who has paid, when they paid and provide you with regular reporting allowing managers to quickly see which customers are behind in meeting the agreed upon terms.

Take control of the people that owe you money

Balanced Bookkeeping and Business Solutions can also chase payments by sending reminder emails and making reminder calls to clients on your behalf.

ACCOUNTS PAYABLE

Keep track of money owed by your business

Balanced Bookkeeping and Business Solutions can receive and pay bills directly from your suppliers also reconcile supplier statements to make sure no suppliers are missed or overpaid. You will always be able to see exactly how much you owe.

PAYROLL AND SUPERANNUATION

Does your business employ staff?

Balanced Bookkeeping and Business Solutions can process payroll, calculate the tax to be withheld, issue pay slips and payment summaries, calculate and submit superannuation also attend to all ATO compliance lodgments for you.

The payroll process includes taking care of all the complexities of leave accruals, entitlements and long service leave.

We understand the importance of staying up to date with tax rates changes.

BUSINESS ACTIVITY STATEMENT (BAS) AND INSTALMENT ACTIVITY STATEMENT (IAS)

Is your business required to be registered for GST?

Need someone to help you understand and lodge your BAS or IAS?

A BAS is a tax reporting requirement for businesses issued by the ATO on either a monthly or quarterly basis. It is used for reporting and paying goods and services tax (GST), pay as you go (PAYG) instalments, PAYG withholding tax and other tax obligations.

An IAS is only completed by taxpayers who are not registered for GST. The IAS is also required to be lodged by entities that prepare a quarterly BAS but are required to remit their PAYG withholding tax on a monthly basis.

Balanced Bookkeeping and Business Solutions calculate the correct amounts to ensure you pay only the required amount of GST, PAYG withholding and other taxes by the due date. Activity statements will be lodged on time and avoid ATO penalties.

Clients of a BAS agent are eligible for a one month extension on lodgment and payment of BAS/IAS returns. Balance Bookkeeping and Business Solutions is a registered BAS agent.

INVENTORY MANAGEMENT

Do you want to know your best-selling and most profitable product lines?

A good inventory management system has the following advantages:

  • Leads to a more organized warehouse – track inventory and stock control
  • Improves the accuracy of inventory orders – this will prevent shortages and allow you to keep just enough inventory without having too much in the warehouse
  • Saves you time by eliminating having to do an inventory recount to ensure your records are accurate. Get real time stock valuations.
  • Keeps customers coming back by allowing you to have the right products on-hand as soon as your customers need them

 

END OF FINANCIAL YEAR PREPARATION

The end of the financial year (EOFY) is a busy time for business owners.

Balanced Bookkeeping and Business Solutions can save you time and money by providing your tax accountant with a set of complete financial records. Financial records are maintained as part of our regular bookkeeping service. No hidden surprises.

Process ensures:

  • All accounts are reconciled to June 30th
  • Employee payment summaries are processed and issued by due date
  • Superannuation is calculated and submitted to June 30th
  • All BAS & IAS are lodged
  • If stock on hand, the stock-take is completed and a stock valuation has been calculated
  • Bad debts have been written off as at June 30th
  • Liaising with accountant (if required)

 

FINANCIAL AND CASH FLOW REPORTING

Do you want to know the financial health of your business?

Financial and cash flow reporting are crucial for tracking the financial health of your business.

Financial reporting shows a snapshot of your business’s financial position, highlighting business trends and identifying any cash flow problems. Financials are also an important tool for setting goals, making sound business decisions and obtaining finance.

Complementing financial reporting is cash flow reporting. Cash flow reporting is a financial statement that provides an overview of the cash inflows and outflows of the business during a certain period of time. Without positive cash flow, a company cannot meet its financial obligations.

Balanced Bookkeeping and Business Solutions can prepare your financials, analysis the financial data and provide you with information on ways to cut back on business spending and improve profitability.

BUDGETING AND FORECASTING

Running a business often requires owners to carefully plan and review their finances.

A well-crafted budget is an action plan that each member of the team can follow. It’s more than just a list of expected incomes and expenditures; it’s a clear, concrete plan to achieve expected revenue or profit goals and overcome possible challenges and setbacks.

A well-crafted budget is an action plan to achieve expected revenue or profit goals and overcoming possible challenges and setbacks. A budget also allows you to allocate funds for specific purposes that are often known in advance. Budgets are often prepared quarterly or yearly.

A forecast is done on a more frequent basis (often monthly). With regular forecasting, you can monitor your company’s progress and make sure you are still on track to meet your end of the year goals. With regular forecasting, you can monitor your company’s progress and make sure you are still on track to meet your end of the year goals. With regular forecasting, you can monitor your company’s progress and make sure you are still on track to meet your end of the year goals. With regular forecasting, you can monitor your company’s progress and make sure you are still on track to meet your end of the year goals. With regular forecasting, you can monitor your company’s progress and make sure you are still on track to meet your end of the year goals. With regular forecasting, you can monitor your company’s progress and make sure you are still on track to meet your end of the year goals.With regular forecasting, you can monitor your business’s you can monitor your company’s progress and make sure you are still on track to meet your end of the year goalsprogress and make sure you are still on track to meet your end of year goals. Forecasting can also help you to identify and avoid problems before they occur.

Balanced Bookkeeping and Business Solutions can prepare a budget based on your financial goals. We will monitor your business’s progress and provide you with information identifying any deviation from budget.

SOFTWARE SET UP AND OFFICE PROCEDURES

Balanced Bookkeeping and Business Solutions can give you advice on which software is right for you, help set the software up (or transfer your existing data if required) and even provide hosting services.

Office Procedures are an important tool for your business to ensure that everyone in the business is following the same procedure and performing tasks consistently and correctly. Helping contribute towards a smooth-running business.