This is one of those things that is almost always the first candidate that our clients say ‘we will handle that ourselves’. Which invariably will lead to us assisting with the accuracy of reconciliations. It’s deceptively simple, one bank line and one book line equals one reconciliation… right… please? No.
It’s not enough to make it line up, that’s not the actual exercise here. The goal is to line it up whilst also classifying it correctly. That’s right, bringing it back to the chart of accounts, making sure the contact actually exists, and then also allocating the correct tax status.
If you are determined to keep this in house, then we are determined to make sure that your house is doing it properly. Whilst also being ready to step in and start righting wrongs when we see them.
Your staff are the lifeblood of your business, but do you know what happens when you cut the circulation off? They drop off quite quickly! The most important thing you can do to keep your team happy and focussed is to remove any fraction of a doubt as to whether payroll is processed properly and at the right time.
It’s not enough to get the pays out on the right date though, anyone can do that really. You also need that payroll to have been processed and set up correctly to remain compliant with a metric ton of bureaucracy, taxes and paperwork.
That’s before they even implemented Single Touch Payroll and other Orwellian surveillance measures… nonetheless we are here for you!
Reporting is one of those things that everyone feels like they can do, its just clicking export inside Xero or any other accounting software … right? In this day and age of cloud accounting, software packages integrations and SaaS tools, every single person is capable and ready to run reports until they are blue in the face.
Good debtor and creditor control exists half way between ‘they’ll probably pay me soon’ and ‘it’s time to send over the thugs’. You want to be proactive enough to remind the people who have simply forgotten without offending, whilst also being able to spot the bad players well before they’ve racked up more than they can handle.
We work hand in hand with you to come up with a creditor and debtor strategy that is going to work for your specific business. This goes so far beyond turning email reminders on that it doesn’t even bear mention at all.
So they say that there are only two inevitable components of life, and they are death and taxes. At least death only occurs once. If you are finding the quarterly BAS cycle to become a little overbearing, then it is time to reach out and get some assistance.
You don’t want to speak to the ATO, and they don’t want to speak to you either. So much so that they will give you an extra 30 days to pay each cycle just for using a dedicated BAS agent… Yep, they would rather be paid late by us than to sit on another call with you. Who knew the feeling was actually mutual?