Being a cloud-based online system, Xero provides a feature-rich environment that enables you to seamlessly control your administration functions via multiple devices in real-time. It provides an array of reporting capabilities designed to keep you on top of your business activities as well as an automatic bank reconciliation facility so you can keep track of your finances.
The Tax Office requires that you keep all documents relating to the income and expenditure of your business for a minimum of five years (7 years for companies), so it's important you have good record-keeping practices.
Apart from this legal requirement, a good bookkeeping system also assists in many different ways:
analyse your business activities via reporting capabilities
support a business case to attract investors or finance
lodge and meet your tax obligations
tailored to meet your specific industry and business requirements.
We provide personalised bookkeeping services for small to medium businesses across a wide range of different industry types. Our services are ideal for small businesses who do not have the time or background to handle day-to-day accounting functions. We are looking for an opportunity to look after your books while you look after your business.
We have all heard the expression “Data is King” but unless that data is presented in a form that makes sense to us, it is worthless – it must have meaning and value. Our goal is to present clients with information about their business that makes sense – that they can use to improve the way they work.
Registered BAS Agents are required by the Tax Practitioners Board to have skills and qualifications in not just bookkeeping and GST and BAS activity statements. They are also expected to be able to bring industry experience to the table. Therefore, the right bookkeeper should not only take away the stress of handling the books yourself, but could also improve your business efficiency and profitability.
In today’s age, bookkeepers need to be on top of technology and the capabilities and capacities of the internet. Capabilities such as cloud-based systems, data interchange and artificial intelligence (AI) are now all part of the bookkeeper’s world. The use of technology has become an integral part of our daily lives and we need to embrace it.
Data visualisation is a term that means turning numbers into information. In addition to historical accounting reporting such as Balance Sheet and Profit and Loss, successful businesses need to be able to analyse their activities and therefore need additional reporting and visualisation capabilities in the systems they employ.
Xero has a number of add on products that provides this capability.