Best Outsourced Bookkeeping Services for Small Businesses (XERO/MYOB)- Australia Wide
The key functions of our small business bookkeeping service / outsourced bookkeeper include:
- Recording all financial transactions for the business
- Bank Reconciliation
Our Accountants operate from Melbourne and assist with Accounts receivable and Accounts payable processes throughout Australia.
Operating from Melbourne, PremierOne’s outsourced small business bookkeeping service provides a complete array of bookkeeping and accounting services designed to assist small and medium businesses across Australia. Our bookkeeper’s primary goal is to help SMEs in ensuring reduction of their time spent on non-essential activities and empowering them to focus on the main business functions.
Proper accounting helps in establishing an effective management information system (MIS), and helps you manage your finances better. Adequate maintenance of books and accounts is a prerequisite to any business entity. Our bookkeeping plan is designed to provide a comprehensive year-round solution to all your accounting needs.
PremierOne’s outsourced small business bookkeeping services in Melbourne help to ensure your financial data are accurate and complete. It truly reflects the financial performance and position of your business. If your bills and receipts are piling up in the shoe-box, you risk non-compliance with the ATO. As a result, there could be severe consequences in terms of sanctions and penalties.
The process of the small business bookkeeping involves data entries to reflect the transactions undertaken by the business. As part of the month-end process, adjustment journals are entered in the system, to ensure all transactions relating to a period or month are captured and reflected in the financial reports.
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Small Business Bookkeeper / Outsourced Bookkeeping Services - FAQ
Bookkeeping is the process of recording all your financial transactions into accounts on a regular basis preferable everyday. It is really essential for understanding your business performance and for preparing financial reports.
A small business bookkeeper is able to take care of the financial aspects of a small business that a busy Small Business Owner would usually have to handle, despite it often not being in their area of expertise.
Let a professional do a professional’s job. If you are like most business owners and CEOs, you take full pride in the services or products your company provides. You want to focus your time and energy on business strategy and goals. Outsourcing the accounting department to a dedicated, highly skilled professional services firm allows you to do exactly that. By outsourcing your accounting to PremierOne you’ll save valuable time in your day, reduce operating costs and gain peace of mind.
Though we are located in Melbourne we outsource our bookkeeper’s to all states across Australia.
Our Office is located in Melbourne, Victoria. Our complete address : Suite 225, Waterman Business Centre, 44 Lakeview Drive, Scoresby, Victoria – 3179.
Bookkeepers are primarily responsible for maintaining the details of all the transactions done. Some of his responsibilities include Payment remittance, submitting the payments, recording payments in ledgers etc.. some Bookkeepers also take the additional responsibility of sending reminders for payments to be received to the client and track if it is received.
Our bookkeepers should become familiar with your chart of accounts for recording your financial statements. Bookkeepers would also reconcile your bank accounts.
Yes Premierone’s bookkeepers are well equipped to keep track of your account receivable of your business.
Our bookkeepers will act as the main accounting professional for entire accounts of small business enterprises, while accountants would be able to manage only specific account types.
The Cost for bookkeepers vary depending on multiple factors for small businesses . However we guarantee you that we provide bookkeeping at most affordable price in the industry.
Our Bookkeepers provide data which can be used for understanding the financial status of small businesses. For financial advice and forecasts you can use our Virtual CFO services.
You can avail bookkeepers from a minimum of 5 hours depending on your need.
Yes our bookkeepers are experienced in Xero bookkeeping and are already doing Xero bookkeeping services for multiple clients.
Yes our bookkeepers are experienced in Myob bookkeeping and are already doing Xero bookkeeping services for multiple clients.
Since most small businesses can’t afford to hire a full-time accountant, virtual bookkeeping is a good alternative. A certified accountant will oversee all essential bookkeeping tasks, and file your taxes, for a much more affordable price.
A small business bookkeeper is able to take care of the financial aspects of a small business that a busy Small Business Owner would usually have to handle, despite it often not being in their area of expertise.
• One of the biggest challenge in book keeping is being aware of tax concessions, liabilities and current government rules
• Managing Flow Of Capital: This is really crucial for forecasts and management of the debts in a smart way
• Formulating Process for Accounts: Receivables and collections
• Failing To reconcile on a regular basis : it is recommended to reconcile monthly financial statements for keeping track of your business earnings and spending.
• Controlling Expenditure: Bookkeepers help in reducing the expenditure by reviewing the amount spent on each resource and cutting down the unnecessary cost on time.
• Ensuring the accrued employees’ entitlements are appropriately accounted for in the accounts of accounts to assess the realistic business performance metrics.
• Frequent changes in the working hours, overtime hours and pay rates would require someone capable of processing these correctly.
• Processing of parental leave, maternity benefits, redundancy and work injury-related entitlements and payments.</br>
• Correct reporting to ATO and annual reconciliation for the wages/PAYG WH reported to the ATO with the payroll system.
• Do I have good governance and controls in my payroll process to mitigate the risk of error and fraud?</br>
• If your payroll system is a standalone system, periodical summary reports will get picked up in your financial accounting systems.
• Suppose the KPI or performance bonus is meant to be paid as super exclusive, in 8/10 cases. In that case, it gets processed with superannuation, which goes unnoticed by the employers and does cause a severe negative impact on the bottom line.
• Setting up and configuring your payroll systems, specific to your requirements.
• Creating the master file data for your employees with date of birth, TFN, leave entitlements and pay rates.
• After getting the timesheet from you, we shall process the pay and send the draft for your approval.
• Once approved, we shall finalise the payroll, email the payslips to your employees, send you the payment electronic batch file for you to process through online banking and reporting to the ATO through STP.
• Superannuation processing either monthly or quarterly based on your reporting obligations.
• End of financial year STP finalisation and reporting to the ATO.
• Month end reports for you to track the various payment categories, changes over the previous pays,
gross summary journal for your accounts department to account for the payroll.
• Round the clock support to address queries/issues coming from you and your employees.
• Appropriate calculation of tax for fractured pays arising due to termination and onboarding of employees outside the normal pay calendar.
Let a professional do a professional’s job. If you are like most business owners and CEOs, you take full pride in the services or products your company provides. You want to focus your time and energy on business strategy and goals. Outsourcing the accounting department to a dedicated, highly skilled professional services firm allows you to do exactly that. By outsourcing your accounting to PremierOne you’ll save valuable time in your day, reduce operating costs and gain peace of mind.
Though we are located in Melbourne we offer Bookkeeping services in all states across Australia.
Our Office is located in Melbourne, Victoria.
Our complete address : Suite 225, Waterman Business Centre, 44 Lakeview Drive, Scoresby, Victoria – 3179.
Bookkeeping is the process of maintaining all your financial transactions in a systemized way on a regular basis, preferably everyday. It is essential for understanding your small business firm’s performance and for generating financial reports.
Yes We provide outsourcing bookkeeping service for single entry system. If you require bookkeeping for single entry system you can contact us and our experienced bookkeepers would be able to help you with the same.
Yes. We outsource our bookkeepers for double entry system. Our bookkeepers deal with double entry system day in and day out and would be able to help you with the same.
Yes. We provide financial statements as part of our bookkeeping services. 3 major financial statements to be provided by our bookkeepers are the cash flow statement, balance sheet, and income statement.
Yes. Bank reconciliation would be provided as part of our bookkeeping services. Our bookkeepers would do bank reconciliation for small business firms and in fact for every one.
Yes. We provide Xero Bookkeeping services at across all cities in Australia. Few key states we serve are Melbourne, Perth, Sydney, and scoresby.
Yes. We provide Myob Bookkeeping services at across all cities in Australia. Few key states we serve are Melbourne, Perth, Sydney, and scoresby.
Bookkeeper and payroll are not one and the same. Our bookkeepers duties involve around transaction management which includes Payment remittance, submitting the payments, recording payments in ledgers etc.. Our Bookkeepers also take the additional responsibility of sending reminders for payments to be received to the client and track if it is received. If you require Payroll services you can opt for our payroll services
Yes. Our Bookkeepers are experienced and are capable of taking care of all our clients bookkeeping remotely. They have successfully managed the bookkeeping for most of our clients remotely in the past 2 years due to covid.
For small business hiring a bookkeeper helps them to streamline their expense which will inturn help them to invest appropriately and get more dividends. Also, since our bookkeepers take care of all your bookkeeping activities you can spend the time you spend on it for something else productively. Our Bookkeepers keep themselves updated on the updates in law and compliance changes and act accordingly. Hence you need not worry about them.
BAS Agents are registered practitioners who are authorized to prepare and file BAS returns on your behalf. Yes. We have bookkeepers who are registered BAS agents. Hence we provide BAS services to our clients.
Bookkeeping softwares are decided based on the needs of our clients. Our bookkeepers would suggest you the best bookkeeping software upon analysing your specific needs. However the most popular bookkeeping softwares available in market are Xero , Myob & Quickbooks
Yes. Our bookkeepers will be able to prepare tax returns for sole traders and individual self assessment returns.
Our bookkeepers are experienced in all bookkeeping services. Their experience ranges from 10 to 40years.
Yes our bookkeepers are committed to their work and all your data is completely safe with us.
It is best to hire a bookkeeper for managing your small business instead of doing it yourself, as it saves a lot of your time spent on bookkeeping activities. Bookkeeping by an experienced bookkeeper will also reduce the errors, than doing by yourself.
Primary responsibility of the bookkeepers revolves around your accounts. Hence, it is imperative that you provide the bookkeepers, the access to your accounts and records to get started with bookkeeping activities.
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Meet Our Team
Maru Natarajan
Maru Natarajan
Managing Director
Maru has more than 25 years’ experience of working as...
Maree Hamilton
Maree Hamilton
TAX ACCOUNTANT
Maree is a Certified Practising Accountant and Member of National...
Hirusha
Hirusha
Aged Care Accountant
A Commerce Graduate from Deakin University,Hirusha is our new accountant...
Fransisco Silva
Fransisco Silva
ON-CALL / VIRTUAL CFO
Francisco is a CFO with 20 years exposure at best...
Rohit
Rohit
JR Accountant .
With prominent skills and experience, we bring into the team...
Charitha
Charitha
Manager - Client Services
Charitha is a Chartered Accountant with over 12 years of...
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