Outsourced bookkeeping and accounting involve hiring an external firm to handle your business’s financial record-keeping, accounting, and tax-related tasks. Instead of managing these functions in-house, you rely on experts who provide accurate and timely services, allowing you to focus on your core business activities.
Outsourcing provides several benefits.
Cost Savings: Reduce overhead costs by not needing to hire full-time, in-house staff.
Expertise: Gain access to experienced professionals who are up-to-date with the latest accounting standards and regulations.
Scalability: Easily scale services up or down as your business needs change.
Focus: Free up time and resources to concentrate on growing your business rather than managing finances.
Outsourced services typically include:
Bookkeeping: Transaction recording, bank reconciliation, accounts payable and receivable, payroll processing.
Accounting: Financial reporting, tax planning, budgeting, forecasting, BAS and GST preparation, and lodgement.
Tax Services: Tax return preparation and lodgement, tax compliance, and strategic tax advice.
Advisory Services: Financial analysis, business planning, and strategic advisory.
The process generally follows these steps:
Consultation: We assess your business needs and recommend the appropriate services.
Agreement: We sign an agreement outlining the services, pricing, and responsibilities.
Setup: We set up or integrate with your existing accounting software and systems.
Ongoing Management: Our team handles your day-to-day bookkeeping and accounting tasks, providing regular updates and reports.
Review and Reporting: We conduct regular reviews to ensure accuracy and provide financial insights.
Data security is a top priority. We use secure, encrypted cloud-based accounting software and follow strict confidentiality protocols. Access to your financial information is limited to authorized personnel, and we regularly review and update our security measures to protect your data.
We use industry-leading accounting software such as Xero, MYOB, and QuickBooks. We can also work with other software that your business may already be using. We ensure that all software is compliant with Australian regulations and suitable for your business size and industry.
No, outsourcing does not mean losing control. You will have complete visibility and access to your financial data at all times. We provide regular reports and updates, and you can stay involved as much or as little as you prefer. Our role is to handle the details, while you retain overall control and decision-making authority.
Accuracy is achieved through a combination of experienced professionals, thorough processes, and the use of advanced accounting software. We conduct regular reconciliations, reviews, and audits to ensure that all financial records are accurate and up-to-date.
Yes, as registered tax agents and CPAs, we can handle all your tax-related needs, including tax return preparation, lodgement, and strategic tax planning. We ensure that your business complies with all relevant tax laws and maximizes tax efficiencies.
Getting started is easy. Simply contact us for a consultation, and we’ll discuss your business needs, recommend the appropriate services, and create a customized plan. Once you’re ready, we’ll set everything up and begin managing your bookkeeping and accounting tasks.
The cost depends on the scope and complexity of the services you require. We offer flexible pricing models, including hourly rates, fixed fees, and monthly packages. We’ll work with you to determine the most cost-effective solution for your business.
We maintain regular communication through email, phone calls, and virtual meetings. You’ll have a dedicated point of contact who will keep you informed and answer any questions you may have. We also provide ongoing support to ensure your needs are consistently met.
We work with businesses across various industries, including retail, construction, healthcare, hospitality, and more. Our team has experience with the unique financial needs of different sectors and can tailor our services accordingly.
Absolutely. We understand that every business is unique, and we offer customizable service packages to meet your specific needs. Whether you need basic bookkeeping or comprehensive accounting and tax services, we can tailor our offerings to suit your requirements.
We strive for accuracy in everything we do, but if an error occurs, we take immediate action to correct it. We also review our processes to prevent future errors. Our goal is to provide you with reliable financial data to make informed decisions.