Bookkeeping & Payroll Services for Small Businesses

When most people think about starting a new business, one of the first things that come to mind is how they're going to manage their finances. The reality is that many start-ups don't have any experience in this area and will need to find someone who can help them out. In this blog post, we'll discuss why should you outsource your bookkeeping. How much can you expect it to cost? And 3 benefits of outsourcing your bookkeeping needs for start-up founders. Why should start-ups consider outsourcing bookkeeping? There are probably more valuable things you can be doing in the start-up phase of your business than learning the difference between a debit and a credit. Generally, a founder juggling the responsibility of sales, product, cashflow, human resources, compliance and more – many of these things can drain the enthusiasm they had for their business. By out-sourcing key roles to professionals, you will have more time for growing your business and generating new ideas that ...

We all know that paying employees on time and correctly directly contribute to workplace satisfaction. And happy employees are more likely to perform better which positively impacts customer satisfaction. As an employer, you want those customer service and employee satisfaction levels to be nice and high. A simple way to do that is to enhance the process of payroll so it is streamlined and runs smoothly, leaving you with more time to spend on winning business, improving productivity and profit. Cloud accounting, with its automation and user-friendly interface, replaces labour intensive payroll procedures with smooth, simplified processes. So, let’s breakdown the process of payroll first: 1.      Gathering employee information 2.      Establishing payroll compliance 3.      Recording employee hours and entitlements correctly 4.      Making regular and fair remuneration payments 5.   ...

Have you ever wondered why your accountant charges so much even though you're paying a bookkeeper? Your accountant doesn’t even pretend to be grateful that you’ve made life so easy; in fact, they’re on a permanent war footing with your bookkeeper. Your accountant says it’s your bookkeeper’s fault that your accounting costs aren’t falling. Your bookkeeper says she doesn’t know what the accountant could be talking about. She’s diligently entered all the data, you’ve watched her do it every month. It can’t possibly be her. Except it can. And in 90 percent of cases, it is. We know that’s a hard truth to face. You’ve known your bookkeeper for so long you can’t remember when she started. She comes to the office every month and chops down that pile of unentered receipts and invoices. Things only get more than a few weeks—a month at most—behind when she’s on holiday or one of the kids is sick. But she’s like a friend. You and your staff have coffee with her, you know about her family...

Does your wallet look like a filing cabinet? Do you find it hard to manage your paper receipts and bills, lose them and forget to claim them back? At iKeep, we pride ourselves on being a paperless office! We have greatly reduced and practically eliminated the use of paper through this fantastic app called Receipt Bank. But how is it possible? All you have to do is take a photo of your receipt or bill using the smartphone app. The software then takes key data from your receipt / bill including the supplier, date, invoice number, currency and the amount and send’s the information to Xero. No more collecting paper receipts and bills, and no more losing them! Why should you get on board? Our question to you is why you wouldn’t! The benefits of Receipt Bank Here are 7 great reasons why we include a Receipt Bank subscription in all of our monthly bookkeeping packages: 1.       Your data is accessible 24 hours a day, 7 days a week, 365 days a year! 2. ...

Starting a business is exciting but can also be challenging if you are not prepared or are overseas. This guide will take you through each step of starting your own company in Australia and help make sure that all aspects are taken care of before launching into this new adventure in Australia! 1. Make key decisions early on to avoid the hassles and headache later down the road Key decisions have an enormous impact on your business - these are the ones you want to make early, so they do not come back and bite you in the ass later. Some key questions include: What licenses do I need? How much tax am I going to owe if this goes through, anyway? And what paperwork did someone else tell me was necessary but turns out not be at all...? ·         Decide on a business structure - There are many different legal entities you can choose from to run your small businesses, but it is important that the one chosen suit both yourself and what needs doing. It is ...

If you are looking to migrate from QuickBooks, we can help! Here is what it entails: -The first step is reviewing your business data and making sure that everything lines up correctly in Xero. We make certain adjustments for any errors or discrepancies before migrating anything over so as not create more problems than necessary (e..g., double payments). We also verify whether there are unpaid invoices outstanding on credit cards since these will need address immediately upon completing this process if they exist at all--we do not want anyone getting left hanging. The conversion process is a fragile process. If you are not an experienced bookkeeper , it is easy can create a significant mess of your business accounts. It is best to use this opportunity to have an experienced professional support you during this time, so you get off on the right foot - and get trained in every part of Xero that is relevant to your business. QBO Preparation Checklist The cleaner your file – the s...

  It's no secret that starting a business is tough. Bookkeeping can be one of the most time-consuming tasks for entrepreneurs because it must be done on top of all other responsibilities. Bookkeepers are often very expensive and don't come with many benefits, such as payroll and super cost. This blog will give you five reasons why every startup should hire a great virtual bookkeeper to help them manage their finances! Here are our top 6 reasons why each startup needs a good bookkeeper.   Reason # 1 Bookkeepers are Easier to Hire One of the first things a startup should do when starting their business is set up an accounting system. Bookkeeping can take quite a bit of training before you get it right and make sure that your numbers are accurate. Bookkeepers have experience with distinct types of bookkeeping software, tallying accounts receivable and payroll systems. They are also aware of the compliances and best accounting practices. This makes it easier to hire a good...