Caulfield Accounting & Tax Specialists
Bookkeeping Services Caulfield– Cost Effective Bookkeeper
Caulfield Accountants is a leading accounting and bookkeeping firm in Melbourne. We specialise in bookkeeping to ensure your finances are managed from start to finish.
We have professional associations with MYOB, Xero and Reckon (QuickBooks). Our staff members have extensive knowledge in these programs. Over the years, we have also worked on many other Accounting Software packages and can usually cater to any software program that you may have.
If any of the following is true then we can help you.
Efficient Melbourne Bookkeeping Services
- Are you tired of employing Bookkeepers again and again? The Bookkeeper leaves the job frequently?
- Tired of paying employee expenses- Workers Comp. , Super, Insurance, Holiday pay, Sick Leave etc.
- End up with unprofessional Bookkeepers?
- The Bookkeeper cannot reply to all the queries made by the management regarding accounts ?
- Your Bookkeepers make excessive mistakes? Your work gets pending while arranging a new Bookkeeper?
- Even after incurring high costs still unable to get the results? Huge Back Log Of work?
Our Edge – Bookkeeping from $35 per hour. 7 Days/365 Days of the year supervised by registered accountants and highly qualified tax agent in Melbourne.
What is bookkeeping?
At its most basic, businesses can expect a bookkeeping service to concentrate on recording financial transactions. The reality is that, depending on the bookkeeper, a business can (and should) expect far more advice. The type of tasks you might expect a Melbourne bookkeeping company to provide include:
- Recording all transactions: both credits (payments) and debits (expenditure).
- Production of financial statements.
- Completion of Business Activity Statements (BAS) for ATO, if required.
- Bank reconciliation.
- Data entry.
- Accounts receivable (including credit control)
- Accounts payable
- Payroll reporting
In addition to these core tasks, time-served bookkeepers are also usually able to assist with more advanced financial procedures. At Caulfield Accountants, when you contact us for bookkeeping services, you will have access to professionals with experience.
Setting up sustainable financial systems
Particularly when a small business has been started from scratch, sophisticated financial systems may not have been a priority.
Many owner/operators and fledgeling businesses manage their financial affairs using little more than an Excel spreadsheet and a jar for receipts! Whilst this can work reasonably well in the early days, as time goes on and the business grows, better systems are needed to ensure the best results.
A bookkeeper with years of experience can work with you to ensure that the systems you have in place are fit for purpose! If not, they can suggest cost-effective alternatives.
Remember financial systems don’t just have to provide accurate, timely financial information, they also need to be secure, in order to protect your data and that of your customers and suppliers. If appropriate, bookkeepers will suggest suitable financial software that complies with all relevant data protection requirements.
Capacity building and training
Start-ups and new businesses, in particular, may not yet have started to employ a worker charged with keeping financial affairs in order.
In many cases, business owners end up doing the bookkeeping management themselves, in between all the other tasks required to keep their businesses on track.
In these circumstances, Caulfield Accountants can step in to train a finance worker in the appropriate systems to keep your business running smoothly. Making sure that your staff are aware of what’s needed to ensure compliance with ATO requirements is vital – we can work with your workers to make sure they have the training needed to keep your books in top form.
Accounting
We help with lodging your small business’ company tax return, as well as making claims for possible deductions on tax and also help with drafting your financial statements for business and tax purposes.
Bookkeeping
Are you an entrepreneur or small business owner looking for streamlined online bookkeeping services? Our expert and proactive accountants do more than clean your books, they provide strategic insights and reporting to drive growth.
Taxation
Our team are passionate about helping people build their dream business which is why we’ve helped thousands of small business owners just like you gain clarity and scale to new heights. Along with our dedicated and proactive accountants, our technology-driven and cloud-based solutions help streamline your accounting requirements to directly boost efficiency in daily operations and increase business growth.
Tax filing
Whilst submission of a correctly completed, accurate tax return is one of the accounting services Melbourne residents can expect to receive from us as accountants, bookkeepers play a key role in ensuring that the relevant evidence is available to back up the figures included in the tax return.
Accurate, meticulous bookkeeping makes the task of tax filing much simpler and faster: not only does this save on your accountancy fees, for smaller businesses (especially those that aren’t eligible for GST registration and/or don’t employ any staff) it may be possible to submit a return without employing an accountant, provided you can have confidence that the bookkeeper has done their job properly.
Why is bookkeeping important?
As bookkeepers Melbourne businesses use on a regular basis, a key consideration for us is defining what added value professional bookkeeping brings to an enterprise. Here we take a look at five key reasons good-quality bookkeeping needs to be central to your organisation’s operation.
Picking up financial irregularities
It’s all too easy for an error to creep into the system!
From a typo in an invoice through to mix-ups in creditor payments or a banking error, there are all sorts of reasons why figures aren’t accurately inputted.
If undetected, these errors can cause all sorts of problems: from disgruntled customers who realise that the amount that you quoted them isn’t the amount they paid through to suddenly realising your bottom line is nowhere near as good as you thought, errors are bad news.
A bookkeeper’s job is to go through your figures with a fine-toothed comb, picking up each and every irregularity and resolving it.
Facilitating good decision-making
Accurate, timely and appropriate financial information is at the heart of good business decision-making. A bookkeeper gives you the data and tips needed to make good-quality decisions.
Ensuring compliance
The ATO has specific requirements when it comes to a business’s financial affairs. Bookkeepers are familiar with these requirements and ensure that the companies they work with comply. Nobody wants an audit from the ATO, triggered by concerns over inadequate systems: a bookkeeper makes sure your systems are strong, as well as facilitating the creation of high-calibre financial data.
Controlling debt
When resources are short and work pressures high, it’s all too easy to let an unpaid invoice slide. Similarly, if your business needs to borrow money, insufficient consideration may be given to the best method of borrowing (or even if the borrowing is necessary).
A professional bookkeeper will work with you to make sure that a suitable system for dealing with late payments exists, as well as ensuring that it’s implemented in a timely manner should payment not be forthcoming.
When it comes to borrowing, bookkeepers can usually provide predictive financial data solutions on how different loan amounts and repayment schedules might affect your bottom line, as well as potentially suggest other ways of managing cash flow so that borrowing isn’t necessary.
Saves companies time and money
Once employed, Melbourne bookkeeping services will take care of all your financial record keeping. This can potentially free up a considerable amount of time to concentrate on core activities, as well as remove the stress associated with keeping up with financial record keeping. Many business owners, particularly those who have been completing their own bookkeeping, are amazed by the savings that can be made outsourcing this to our team here at Caulfield Accountants.
Individual accounting services, wealth strategy, insurance, and financial management. Prepare and lodge your tax return with Caulfield Tax Accountants, a registered tax agent in Caulfield. Let us do the hard work, with professional advice and ensuring maximum refund and paying minimum tax.
Are you already operating or considering starting a business as a sole trader? Caulfield Tax Accountants can help as we are a 'one-stop-shop' for accounting services and tax advice for sole traders and small businesses.
Professional Services
Providing accounting, tax and business advisory to professional services industries comes naturally to Caulfield Tax Accountants. We have a large clientele of professional services clients who seek advice and knowledge specific to their industry.
Bookkeepers are still an integral part of any successful business
The traditional role of a bookkeeper has expanded dramatically in recent years.
In particular, the range of bookkeeping services for small businesses has never been better.
It’s tempting for small businesses to try and save money and do in-house bookkeeping but in the long run, this can cost more.
Some of the services bookkeepers can offer small business are bank and credit card reconciliations, accounts payable and receivable, invoicing, data entry and filing, budgeting and cash flow management and reporting.
These traditional services are vital for businesses and can be time consuming tasks that often pile up. Outsourcing these services to a bookkeeper, you only pay for what you need and the work that is done.
An example of a vital but time consuming service is chasing up payment of invoices (debtor follow-up). Chasing up invoices is not just a case of phoning the business/person that owes you money and reminding them to pay.
Business Advisory
Building and maintaining a successful business in today’s rapidly changing environment is a balancing act. Sustaining year on year growth, while keeping up to date with commercial and legislative compliance and managing the challenges of daily business operations, places huge demands on business owners and directors.
Our specialist advisors work with you in a role to help you plan and implement contemporary business practices that will allow you to keep a close eye on the detail while not losing sight of the big picture.
Our Self Managed Super administration service can help you achieve the benefits of an SMSF by taking care of the administration and compliance of your SMSF, creating free time for you to focus on the critical job of managing the investments of your fund.
With a self-managed super fund, you are in charge of your super and where it is invested, plus you manage those investments yourself.
Financial Advisory
At Hillyer, Richeswe provides comprehensive financial advice to our clients with an enthusiastic and proactive approach. Our strong team of experienced professionals will work with you towards identifying valuable solutions on how best to achieve your goals. Caulfield Tax Accountants is a Caulfield based Chartered Accounting firm offering timely and cost-effective services to both individuals and businesses. We consist of a team of accountants and business consultants dedicated to providing the highest quality accounting, taxation, bookkeeping, and business advisory services.
Since its inception, Caulfield Tax Accountants has been at the forefront of tax and accounting, providing a broad range of services to local businesses in Caulfield. We offer Individual Tax Returns, Business Taxation and Accounting, Financial Planning, Self Managed Superannuation Funds, and Bookkeeping services.
Caulfield Tax Accountants understand Doctors and Healthcare professionals require specialist attention. Our team of experts offers friendly, industry-leading advice relating to tax, GST and compliance that will maximise your return, addressing all your financial requirements.
We have extensive experience in servicing the manufacturing industry, including the provision of accounting, information technology, and audit services, and regular periodic management reporting. Supplemented with more detailed financial analysis, this lies at the heart of astute commercial decision making.
Caulfield Tax Accountants Tax Accountants in Caulfield also specialise in helping small businesses to achieve great things. Whether you run a bar, restaurant or coffee cart, our accountants are here to offer an extensive range of accounting support services for your hospitality business.
The rise of bookkeeping in “the cloud” has been a great win for bookkeepers, despite fears that it would make the profession obsolete.
Bookkeepers have been encouraged to embrace these accounting programs and Caulfield Accountants' has well and truly jumped onto the cloud!
The technological timesavers incorporated in Cloud Bookkeeping services are also a win for small businesses.
There are five main cloud bookkeeping software providers in the Australian market. They are MYOB, Xero, Intuit with Quickbooks, Saasu and Reckon, the former Australian distributor for Quickbooks that now has its own cloud-based offering.
Xero has emerged as the one to watch in cloud accounting and this New Zealand-born company has a subscriber base of close to 1 million customers in Australia and NZ.
Xero also has a vast range of other cloud based systems (third-party products) that integrate seamlessly with it in order to add functionality. It has a published API which makes it easier to customise and lead to more third-party integration.
An add-on feature of Xero that is heavily used by clients of Caulfield Accountants is Receipt Bank. Receipt Bank allows bookkeepers to streamline their tasks and grow their capacity to anaylse data and help improve internal processes for clients.
We have extensive experience in financial services for medium-sized trade businesses. The services we offer are all aimed at doing what really matters – ensuring your financial growth and freeing up your time so that you can enjoy life.
We understand what farmers require to effectively manage the finances of their farming operations. We have been a leading provider of business and financial advice, taxation, and accounting services to Primary Producers and the rural sector for more than 30 years. Enquire today to find out how we can help you with your farm.
Our experience and relationship with franchise groups give us real-time insight into franchise systems and their performance. We provide franchises with business, taxation and accounting services. We can also act as consultants to the head franchisors in setting up cloud accounting & business and structures.
At Caulfield Tax Accountants, our specialist property tax accountants in Caulfield are renowned for their property tax accounting services for property investors. Our property tax accounting and tax advice extend to the various estate planning factors including ownership and control of assets.
Caulfield Accountants have professional associations with MYOB, Xero and Reckon (QuickBooks). Our staffs have extensive knowledge in these programs. Over the years, we have also worked on many other Accounting Software packages and can usually cater to any software program that you may have.
We do not believe in a ONE SIZE FITS ALL policy so if you do not have any software set up, we can suggest the most appropriate program to suit your business needs and usage and provide training and support.
We are independent of any accounting software companies. When we speak to you we can work with your existing software or we will recommend to you the package we think is most suitable for YOU and your business.
We have hourly bookkeeping fees for remote and onsite work and fixed monthly package rates.
We tailor our services to your business needs which we access after our initial consult with you to discuss which solutions will work best for your business:
A number of factors go into how we work our bookkeeping service rates:
· The size of your organisation,
· The type of business e.g service, retail, medical, property,etc
· If there is a backlog which needs to be brought to current
· Whether you would like to do some of the jobs yourself e.g payroll or BAS.
Caulfield Accountants rates start from $40 p/hour for remote jobs and from $50 p/hour for onsite depending on the experience of the Bookkeeper and our Monthly Packages start from $150 p/month for a start up business with less than 80 transactions.
Bookkeepers prices can vary dramatically but quite often not all bookkeepers or bookkeeping rates are created equal. You could get a bookkeeper that only charges $20-$25 per hour but they may take 3 or 4 times longer to do the work or outsource your work overseas; and they may not have as much experience and procedures and steps in place that can expedite your work. In the long run a bookkeeper that does not know what they are doing will cost you a lot of time and money having to get the work corrected.
On the other hand you can pay as much as $100-$150 an hour for a bookkeeper in a larger firm or accountants office.
Caulfield Accountants offers reasonable rates and fast service. With over 20 years combined experience, we have developed many services and procedures that speed up the bookkeeping processes without compromising on the quality of the work being complete
We are a one stop shop for all your bookkeeping needs. If we don’t do it now, we can find someone and get it done for you or we will learn as our young team are passionate about bookkeeping and helping our clients.
All the work is performed in our office in Campsie under the supervision of experienced bookkeepers and Accountants. We don’t outsource to offshore companies to save money. We believe in providing quality work and take pride in our business model. A lot of our business is from referred clients which we would like to continue by providing quality work.
Technology has opened up a world of possibilities for Bookkeepers and businesses. We don’t need to be in your office to update your business files. Instead, the work can be performed remotely using a cloud-based software. We can view real-time information about your financial transactions, and work on financial reports and reconciliation from any location and save money on bookkeeping costs.
It is very important to have updated business financial information available to have a clear picture of the financial health of your business so educated decisions can be made about future expenses, business development and growth. This information improves the likelihood that you can manage your cash flow and have no surprises. Plus, you can refer to these reports when making big financial decisions for your company.
We will evaluate your financial plan and keep up with ongoing transactions, and ensure that you are ready for Tax Lodgements while meeting all your deadlines through the year.
Most small and medium business owners do not have the training, knowledge, time or ability to effectively perform their bookkeeping duties so it’s best to leave it to the experts at Caulfield Accountants.
Outsourcing to Caulfield Accountants, can save your business a lot of money, stress and give you back your late nights and weekends.
Well there are several answers to this question, but let me give you a few:
1. Probably the most important reason, if you run a business in Australia, it is a legal requirement. By law, the Australian Taxation Office (ATO) requires you to keep certain business records and penalties may apply if you do not comply.
2. If you maintain good bookkeeping records, it will be easier and faster to complete your business activity statements (BAS or IAS) and other tax obligations when they are due.
3. Good bookkeeping records provide information to allow you to monitor the performance of your business and make informed decisions.
4. It makes it easier to maintain your creditors and debtors when your bookkeeping records are up to date this ensures you aren’t paying a supplier twice or that your customers are paying on time. This all helps with the health of your business.
A good bookkeeper can be an asset for any business, big or small. They can take the general bookkeeping hassle away from you so you can focus on running your business and doing things that matter like spending precious time with the family on the weekends.
When the accounts are completed on a regular basis you can take control and make informed decisions based on the data presented and sometimes it can be valuable as issues are detected before its too late.
As a business owner/manager you want to focus on running the business efficiently and keeping customers/clients happy not wasting your valuable time doing admin/bookkeeping.
Caulfield Accountants are able to provide most small to medium business all their bookkeeping requirements making us your complete “Accounts Department”.
We can provide the following services:
· General Bookkeeping and Data Entry
· Accounts Payable and Creditor control
· Accounts Receivable and Debtor control
· Payroll Services including Single Touch Payroll(STP) which is a compulsory requirement for businesses from 1st July 2018.
· Bank and Credit Card Reconciliations
· Liasion with Accountant
· Loan Setup and Reconciliations
· BAS Preparation and Lodgement
· IAS Preparation and Lodgement
· Superannuation processing/Lodgement
· Merchant Reconciliation
· Payroll Tax reporting and Lodgement
· Financial Reporting
· Budget Forecasting and Preparation
· Cash Flow Analysis
· End of Financial year processing and Close off
· Lodgement and finalisation of employee payment summary at year end.
Outsourcing is cheaper than hiring an employee because:
· Save time spent managing the bookkeeper
· Save workers compensation insurance and claims hassle
· Save employee liability or other legal problems
· Save office space needed (convert that desk to a sales position)
· Save money on phone lines, computers, software or other overhead costs
· Save hiring and training costs, no replacements during vacation
· Save wasted time on non-revenue generating activities
· Save expensive Accountant charges to fix errors
· Eliminate employee drama and management headaches.