Frequently Asked Questions (FAQs)
What can you do that my current bookkeeper cannot?
Having worked as a Qualified Accountant for 10 years I have a wealth of experience in how best to undertake your bookkeeping needs. By ensuring that your accounts are reconciled accurately and regularly, this will provide you up to date information to make financial decisions in your business.
By doing it right the first time, the less your Tax Accountant needs to amend the figures to produce your Financial statements and tax return at year end, ultimately saving you money.
By having the experience as a Qualified Tax Accountant, I can see potential problems before they happen and bring this to your attention.
I’m not happy with my current bookkeeper, but it’s just too hard to change.
Is it really? Sometimes taking that first step is the hardest. I will work with you to ensure a smooth changeover and make the ongoing processes streamline to free up your time.
Can you help me catch up on overdue Business Activity Statements?
Yes, absolutely, I have worked with the ATO previously in getting a number of years business activity statements lodged with penalties remitted.
Having said that, in the past I have had success in getting the penalties remitted, however, the ATO has significantly toughened the requirements to get penalties remitted, but I will certainly go into bat with the ATO for you.
My books are a mess, are you sure that you can fix them?
I’m sure, it’s my stock and trade to be able to fix accounts. When working as an accountant I would often be given the most, messiest accounts to reconcile and get back on track.
I don’t like technology.
That’s fair enough. Technology has it’s place, however, I am more than happy to work with you to achieve a positive outcome.
I’m doing ok doing the books myself.
Sure, no doubt you are doing ok with the books. But is doing your own books the best use of your time? Look at it from a financial position, what does it cost you to do your own books, what’s your average hourly rate? If you earn more an hour than the cost of my bookkeeping service, then doing your own books is potentially costing you income.
She’ll be right mate, I’ll get to the BAS when I can.
Righto, the current penalty minimum for non lodgement is $210 per activity statement. To be boring, the recent cases brought by the ATO for non lodgement of activity statements and tax returns has resulted in penalties of up to $70,000 – pretty severe in that case, but things can snowball. If you want some stimulating reading, here is the link to the summary on the ATO website: https://www.ato.gov.au/media-centre/articles/don-t-let-late-lodgment-cost-you/
Do I really need all of those reports, they are just more paper I have to file in the bin!
Need? Depends on the questions you want answered. Can I hire another staff member? Should I increase my prices, do I need to? I’m working harder than ever but I’ve got no money in the bank! Not saying I’m a miracle worker, but essentially the financial numbers of your business can answer those questions and put in you in a position of having the information you need to go forward in your business.