Bookkeeping Frequently Asked Questions

I am behind with my paperwork. Can you help?

No worries. All we need is your bank statements and source documents for the period you are behind with. We will sort out your paperwork, complete your bookkeeping, prepare your BAS return and inform you of any ATO debt.

If you are a bit strapped for cash and have some time up your sleeve, you can cut costs by sorting out your paperwork in date order. We will do the rest from there..

I am starting my own business and I want to do my books myself but I am not sure how?

Easy. We can set up your accounting systems to ensure you operate efficiently and compliantly and show you how to DIY step by step.

I am a small business owner and happy with my current accounting arrangement but I hire employees and the time it is taking me to do the wages is interfering with the time I need to run my business. What can I do?

That’s not an uncommon problem. You should outsource your payroll activity.
It is simple. All you have to do then is email us your employees timesheets for the pay period. We will process the payroll and email you payroll reports, notify you of the net pay for each employee, sort out the PAYG liabilities, superannuation information, etc., and distribute payslips to employees by email.

Do I have to engage you for everything or can I just seek assistance in one area?

You can seek specific assistance limited to a particular if you wish. Talk to us to discuss your budget and particular requirement. You may find you can get your basic bookkeeping done for as little as $30.

Why should I use bookkeeping services rather than hire an in-house bookkeeper?

An external bookkeeping service can save you tens of thousands in hidden costs involved in employing a bookkeeper…such as the cost of the base salary, the cost of superannuation (currently a minimum of 9.25% of base salary), the cost of four weeks annual leave and the cost of two weeks sick leave, holiday pay, the cost of Workers Cover (average 4.5% combined base salary and superannuation), the cost of Payroll Tax (5.45% in NSW if your total Australian annual wages exceed $750,000 as of 1st July 2013), plus the cost of recruitment and the cost of per square metre of office space plus equipment including a computer and accounting software! Compare that with our costs that are limited to only paying us when you need us to do only what you need us to do!

What is a ballpark figure for your fees?

It depends on how much time we need to spend on your work but you can choose between a variable rate based on the hours for each period or a fixed cost. The fairest way for you is for us to start on a variable rate for the first couple of months while we familiarise ourselves with your work. As we get to know the scope of your work we also become more efficient working on your account. Then we can discuss a fixed rate which is based on a known and accurate time frame.

Then you also enjoy predictable billing for our services every month – no surprise! As your business grows and the tasks you need us to do increase, we can apply the flexibility of alternating variable and fixed rates to control your spend.

I have been doing my own books for a while but I am unable to commit to developing my business because I am too busy doing books. Do I have to reconcile everything before I can hand my books over to you?

No you don’t, and recognising the need to delegate this responsibility is a good business decision. Even if your books have been done by another external supplier and you feel they are a bit of a mess, or you have discovered you do not have an aptitude for bookkeeping, this is a natural time and place for us to step in. You do not need to waste time trying to balance the accounts ‘by force’ either. Just give everything to us to sort out.

I am sure I am making money but I am not seeing the flow-on into my bank account?

That is not uncommon either and there could be a number of reasons. We do find many businesses have a lot of outstanding uncollected debts but business owners feel embarrassed to request payment or do not wish to alienate regular buyers. These debts then ‘fall through the cracks’. We can negotiate payment terms on your behalf and professionally and politely arrange payment of outstanding debts.

I am running an import/export business and lodge BAS return each quarter but I find GST confusing. How does it apply?

Good question. In some people’s mind, imported goods are GST free. Actually, Customs collects GST on taxable goods imported into Australia. The GST payable is 10% of the value of the imported product. The value of the product is the sum of: the customs value of the goods, any customs duty payable, the amount paid or payable to transport the goods to the port or airport of final destination in Australia (or the place in Australia to which goods are posted), the insurance cost for that transport and any wine equalisation tax payable. For more information, please refer to ATO website. Some bookkeepers working for importers treat all Customs charges as part of Cost of Goods Sold before obtaining the gross profit figures. This can result in losing a substantial amount of GST which can be claimed back from the ATO. Contact us if you are unsure if your business is losing a tax-back claim.

What makes allround Accounts Solutions different to other bookkeeping/accounting services?

The combined experience, knowledge and expertise with that we are prepared to focus on your business to facilitate its success.
Our team members have:

  • A minimum of 5 years fulltime accounting qualifications including Diploma of Business in Accounting, Advanced Diploma of Business in Accounting and Bachelor of Business in Accounting;
  • Membership of CPA and CPA qualified Accountant;
  • A wealth of accounting knowledge with over 11 years practical accounting experience in roles from Accounts Coordinator, Accounts All-rounder/Payroll Officer, Assistant Accountant, Accountant, to Financial Controller for small to medium sized organisations in the industries of telecommunications, media and advertising, customer services, marketing research, import/export, hardware, building and constructions, and retail;

We guarantee the CPA level quality of our service yet at bookkeeper cost!

We will back up our service with our gold-plated unconditional 100% 30-day money-back satisfaction guarantee. If you are not happy with our service, simply let us know within 30 days.

You will not be charged for the month and we will refund you if you have already paid in advance.

Stop your business running you and let us help you run your business.

Click here for more Bookkeeper Sydney information, or call 0433 066 617.