Bookkeeping & Payroll Services for Small Businesses

  As a cloud bookkeeper , we aim to provide simple advice to our clients that improve their business, and makes it easy for them to understand and implement. Managing cash flow is stressful but a constant in business. So we use Vistr to give clients a clear picture of their cash flow in the next three months. They feel in control and get a peace-of-mind to focus on their business. Cash flow forecasting with Vistr requires minimal pre-meeting preparation. Vistr automatically syncs with Xero, so when we keep the books updated, we just login to Vistr at the client meeting. The information is so easy to understand that we use it with our clients during client meetings. It helps us further demonstrate value to our clients. They get really engaged with Vistr. We even give them access to their Vistr account. It’s great to see that they check the cash flow every week, and put our advice into practice. CASE STUDY: Digital Agency My client is a wonderful digital agency, designing a...

One of the benefits of switching accounting and financial business activity to the cloud for small to medium sized organisations is the opportunity it presents for streamlining so many operational and financial elements. One of those elements is invoicing. This is one of the most important areas of a business. Getting this right and using the right software for invoicing can have an immediate and positive impact on your cashflow. Ka-ching! Positive cashflow. We love that phrase. We often speak to our clients about this. One of the simplest ways you can remedy a cashflow problem is to sort the invoicing process out. This is what we recommend you do: 1. Invoice faster A simple administrative mistake many small business make is leaving the invoicing until the end of the week, or when they’re back in the office or worse – the end of the month! This does nothing for your cashflow. In fact, it will probably dry up super-fast if you manage your invoicing this way. If your team are...

  Many of our clients who have moved from the traditional methods of accounting to the cloud using simple bookkeeping software solutions have been surprised at the positive impact on the bottom line. When they look at their profit and loss statements, they can pinpoint cost savings to the month they made the switch from manual payroll system to streamlined software. Quite often they drill right down and discover the savings around time and money (and let’s face it time IS money) and its connection to payroll. Here are some of the challenges payroll can throw up when processes and procedures are done manually, in spreadsheets or in cumbersome, desktop accounting software that isn’t exactly user-friendly. ·         Miscalculations on PAYG ·         Not having the correct tax tables set up ·         Superannuation calculated incorrectly ·      ...

Offshoring Myths Stopping You from Building a Global Team Offshoring has been a common practice in the business world for a long time, but it's something that has become accessible to smaller businesses in recent years. There are plenty of passionate views as to why people think it’s either a great idea, or a terrible process. We’ve been working with offshore team members for over 10 years and think that it’s wonderful! … once you’ve got your processes nailed. In this blog post, we will draw from our experience and talk through some of the myths and compare them to our reality. Offshoring is unsafe - This is a common myth that has been spread around by those who do not understand the concept of offshoring. By outsourcing to an offshore company, you can be assured that your data and information will be safe from hackers as it isn’t stored in one place. There are many MS office setups that can help you implementhigher security for your data. O...

Using invoice templates in Xero You can personalise your invoices, quotes, customer credit notes, customer statements, and purchase orders display using templates in Xero. You can add multiple invoice templates to use in different situations, such as different payment terms or different logos. There’s no limit to the number of templates you can add and personlise.  You can Create/copy/edit/preview an invoice template Create an Invoice Template Click the organisation name, select Settings, then click Invoice settings Click New Branding Theme Enter a name to help identify the theme Adjust the options as needed to customise your invoice's appearance or to show additional fields. You can also enter your contact details and invoice or quote terms. Click Save. Copy an invoice template Click the organisation name, select Settings, then click Invoice settings. Find the template you want to copy, click Options, and then select ...

With the end of financial year fast approaching, you need to ensure that customer satisfaction is translating into a healthy and happy balance sheet. If you have or are looking to outsource your books management, you have 2 options. A bookkeeper or a BAS agent. Each option differs slightly and has its benefits. It depends on your needs. We will try to address how they are different and similar and how it will impact your business. Bookkeeper You’re likely to have used a bookkeeper for your business needs already. If you put someone else in charge of accounting, then that person would be considered an everyday bookkeeper who ensures financial trust by balancing books throughout each quarter and at year-end; they process transactions using software like Xero which is easy enough even without training! If your bookkeeper has been on top of the numbers, your accountant will have less work to do. BAS Agents A registered BAS agent is a professional with the ability to handle all book...

Working with your bookkeeper is the best way to learn about how you’re doing financially. It is essential that you work closely together throughout each quarter on an ongoing basis in order keep up-to date and understand any issues better than before! We have found that a lot of small business owners are master of their trade but have some difficulties in understanding the accounting jargon or in communicating with the bookkeeper to better understand the financial health. If you want to increase your accounting knowledge so you can have more informed, insightful discussions with your account this quarter? Start right now, with this list of 7 essential accounting terms for small business owners. 1. Balance Sheet: A balance sheet is a snapshot of your company's financial position at a specific point in time. It lists your assets (what you own) and your liabilities (what you owe). The difference between the two is your net worth. Balance sheets provide the basis for computing ra...