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Cloud Bookkeeping Made Easy
In a nutshell, typical bookkeeping tasks are all about transaction reconciling – bank reconciling, general ledger reconciling, paying creditors and receipt of receivables.
It may not sound interesting, but it is the backbone of your finances.
You need to be accurately recording everything coming in and everything going out, to ensure the numbers you are using to make decisions, are accurate.
Balanced Beans Newcastle bookkeeping and tax agency works with you to identify your bookkeeping needs and create custom solutions to ensure you are meeting all your record-keeping obligations as a start-up or small-to-medium business owner.
As seasoned bookkeepers we have the experience and know-how to help calm your bookkeeping headaches, take the stress out of number-crunching, and improve your financial decision-making systems.
Our services can be performed weekly, monthly, quarterly, annually and we provide catchup services on overdue obligations. Cloud software allows us to work with businesses locally in Newcastle and the Hunter Valley as well as those further afield.
If you really dread anything to do with the money side of business – except making it, of course! – our Newcastle bookkeeping services can also be combined with payroll and tax agency services making us a one stop shop for your books.
But first, the basics…
What is bookkeeping?
Bookkeeping is the practice of recording and tracking the financial transactions of a business. We use this information to summarise your financial activity into reports that show how the business is doing. As part of this process we can also perform wider tasks such as invoicing, paying bills, preparing tax returns, monitoring key performance indicators, and providing strategic advice.
Keeping accurate and complete records will help you manage your business and cash flow.
Good record keeping is good business.
Why your business needs a bookkeeping service
You are legally required to keep records of all transactions relating to your tax and superannuation affairs as you start, run, sell, change, or close your business, specifically:
- Any documents related to your business's income and expenses
- Any documents containing details of any election, choice, estimate, determination, or calculation you make for your business's tax and super affairs, including how (basis or method) the estimate, determination or calculation was made.
We want to make sure you have covered all your bases! To meet your record-keeping requirements and avoid common errors, ensure you understand what records are needed for your business and make accurate and complete record-keeping practices a part of your daily business activities. As your business changes or grows, you may need to review what records you need to keep.
So having a professional bookkeeper ensures you are meeting your requirements, because there can be legal and financial consequences if your business doesn’t comply with these record-keeping requirements.
The bookkeeping services Balanced Beans offers
As highly experienced professionals we pride ourselves on surpassing your needs and expectations. And we really love finding solutions for your individual business needs. We offer:
- Professional cloud bookkeeping
- We're a Xero Partner and Certified Advisor
- Upfront fixed fee - no surprises
- Quality control, fix-it jobs, and health checks
- New business setup, training, and support
- Paperless transaction recording and uploading to cloud software (no more shoe box of receipts to keep - we like Hubdoc
- Latest in accounting technology
- Face-to-face or remote services.
For a Bookkeeper in Newcastle, Maitland, the Hunter Valley or anywhere in Australia, reach out to Balanced Beans.
What is a bookkeeping health check?
A Balanced Beans bookkeeping health check is a high-level review of your accounting data-file. It allows us to make sure there are not any obvious set-up or transactional errors in your file to ensure you are meeting your BAS obligations.
Any further questions? Book a free inital meeting to discuss how we can help streamline your business bookkeeping, manage your payroll, complete your BAS and other tax-related requirements, and more.
Contact Balanced Beans
Let the team at Balanced Beans take care of all your bookkeeping needs so you can get on with business.