Accounting Fundamentals

Bookkeeping Firm in Cheltenham

Included Services

SFAS A1 – Provide unlimited email and telephone support

Delivers immediate problem-solving in direct response to your business needs (highly recommended).

SFAS A2 – Prepare and lodge Quarterly Business Activity Statement (BAS)

Safeguards on time, accurate and confident reporting. 

This service includes:

Review all transactions to check correct GST received or paid

Advise where GST is payable or can be claimed

Calculate Net GST owing or refundable to ATO

Prepare and send quarterly BAS for your approval

Lodge approved BAS with ATO.

SFAS A3 – Promptly reconcile all cash transactions in Xero

Provides up to date cash flow management with ongoing professional check and upkeep of the core functions for your business. 

This service includes:

Correctly allocate and code bank and credit card statements

Reconcile accounts receivable and accounts payable

Confirm paperless payables (invoices and receipts imported via Receipt Bank™)

Troubleshoot and support.

Please note: 

** This service requires an active Xero subscription
** Receipt Bank™ is a licensed pre-accounting service
** This service does not include sales invoice creation

SFAS A4 – Complete monthly bank reconciliations

This service applies sound business and financial oversight to safeguard cash flow accuracy. 

The monthly service includes:

Review and reconcile bank and credit card data for correct GL allocation/correct treatment for GST

Conduct physical check of Xero’s bank statement processing to identify/rectify unidentified transactions and errors.

SFAS A5 – Review and reconcile General Ledger accounts

Provides certainty of the health of your business by verifying crucial financial information. 

The service includes:

Full GL review of financial data for current accuracy and completeness

Review of Balance Sheet (assets/liabilities) to verify accuracy of current financial position.

SFAS A6 – Manage payroll (if required)

Satisfies payroll obligations for your staff and regulators by paying correct amounts on time. 

This service includes:

Enter and verify rates of pay and entitlement balances from previous payroll process (Note: does not include review of compliance with current awards and obligations)

Setup Xero payroll process

Setup MyXero remote access for employees to view payslips, apply for leave, enter timesheets (if required)

Calculate superannuation for employees

Process periodic payroll weekly, fortnightly or monthly

Calculate and track accrued leave and other benefits

Calculate superannuation for employees

Report, upload or direct deposit salary/wages for payment to employees

Distribute employee payslips for online access (email/MyXero)

Report Single Touch Payroll (STP) to the ATO after each payroll event

Prepare annual WorkCover estimates (if required)

Prepare Monthly Payroll Tax Return (if required).

SFAS A7 – Manage quarterly super payments (if required)

Safeguards compliance with superannuation obligations by making steady contributions. 

Service includes:

Setup superannuation funds and employee membership details

Process quarterly superannuation payments through Xero

Report/resolve issues.

SFAS A8 – Prepare and lodge monthly Instalment Activity Statement (IAS) (if required)

Ensures on time reporting to the ATO of your PAYG obligations. 

Service includes:

Prepare IAS monthly return for your approval

Lodge IAS with the ATO

SFAS A9 – Finalise End Of Year (EOY)

Ensures you can rely on accurate and complete financial information for decision-making, taxation returns and statutory reporting. 

Service includes:

Finalise STP process (to finalise employee’s annual income statements)

Prepare and lodge Payroll Tax reconciliation (if required)

Apply EOY adjustments

Prepare and lodge annual WorkCover reconciliation (if required)

Prepare final accounts for the Tax Accountant to prepare tax return

Enter final EOY tax adjustments

Prepare and lodge Taxable Payment Annual Report (TPAR) (if required).

Get started today

Walk away from the stress of trying to reconcile your accounts and the time lost ensuring your business is compliant with ATO requirements. 

Book a free consultation to discuss your personalised financial management package.