NEED A HAND with BOOKKEEPING, BANK RECONCILIATION, OR BAS?
We take care of the mundane so you can relax
Honestly, who likes bookkeeping? You're not going to believe this, but we do...
Keeping track of your books is necessary for all business owners, as is filing BAS returns if you're registered, but they don't have to be a drag. Focus on what you do best, while we handle your books 🤓
What is bookkeeping?
Bookkeeping is the process of recording and reporting information about an organisation’s financial activities. Bookkeeping records important pieces of information such as sales and expenses, assets and liabilities.
Good bookkeeping practices mean your business maintains accurate records and makes sure that there are no discrepancies between what an organisation reports to the outside world and what actually happens within.
Why should I hire someone to do it for me?
You might ask yourself why a business needs to hire a bookkeeper. Why would you need someone to record and keep track of your finances, rather than do it yourself?
Alongside the legal requirements for you to accurately file these records with the ATO so that you pay the proper amount of tax, a key benefit is that you have someone keeping track of your money so that you can make sure you’re not spending more than you have coming in.
This is especially important if you’re a small business owner because it can be hard to keep track of everything when you're wearing all the hats. Give yourself one less headache, and gift yourself back some admin time.
WHAT'S ON OFFER
Beany's bookkeeping services
Bank reconciliation? Let us help!
Performing a bank reconciliation is a necessary chore for all business owners. Essentially, you compare your record of sales and expenses against the records your bank has because bank statements are reliable financial records. The purpose of a bank reconciliation includes finding and fixing any errors, identifying wrong payments, tracking profitability rather than relying on your gut feeling, and getting prepared for tax filing.
Struggling with BAS returns?
A business activity statement (BAS) is a form that all businesses must lodge to the ATO. It summarises all the business taxes you have paid or are to be paid to the ATO in a specific period. BAS typically includes GST, PAYG instalment, PAYG withholding tax, and other taxes.
In Australia, if you're GST registered (annual turnover is above $75,000 or a taxi driver or a ride-sharing driver), then you're required to lodge a BAS.
BAS lodgement frequency is monthly, quarterly, or annually. The frequency of lodging BAS depends on your GST turnover.
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