General Bookkeeping Services
(Automatic Payment Recognition)
(Automatic Receipt Recognition)
(monthly, quarterly, and annually)
Planning & Management
Forming a Financial Plan
We’ll work with you to develop a financial plan for your business, be that a largely “DIY” approach or an integrated solution where we’re in regular contact.
Do you want to maintain the books yourself, or use Bookkeeping Solutions?
We’ll help you figure out your payment terms, how to monitor ageing receivables, chase overdue accounts, and how to deal with serial late payers.
We can be the ones to make the awkward phone calls about late payments.
Deciding when and how to pay bills is important, but many business owners don’t know the tricks to managing it well — they’ll either pay everything straight away or wait till they get overdue letters.
You can take charge of the process, watching what’s due and when, and reconciling that against the cash flow forecast to decide when and how payments are made.
Know your cash position when you reconcile daily.
Accounting software automatically and securely imports your bank transactions every business day. You save hours on admin and get daily updates on the state of your business finances.
We’ll help you set up your accounting software and bank integrations.
Know your bestselling and most profitable product lines.
Use inventory trend analysis to get an up-to-date view on what your bestselling product lines are.
See how much profit you’re making and use this information to make the right decisions about what to order and how to price it.
Set up regular health checks for your business by producing a balance sheet, profit and loss statement, aged payables report, aged receivables report, and a cash flow forecast.
We don’t just throw numbers at you. We break it down and draw your attention to the things that need attention. We can also provide specialist reporting software that converts data into beautiful, easy-to-understand graphs and charts.
Do you need Bookkeeping Solutions to oversee your books?
Apart from providing a complete bookkeeping service, we also offer our staff on a contract basis to work in your office, eliminating the risk of employing the wrong staff.
Services can be tailored to suit your needs.
Business owners and their staff may not understand their role in bookkeeping. We can teach them what to do, and when. The same goes for things like invoicing, stocktaking, and creating expense reports. If they’re using software, then we can set things up and then create cheat-sheets or checklists for tasks.
Setting up business systems
Because bookkeepers understand admin and finances so well, they often end up as tech consultants to small businesses. You might be asked to set up point-of-sale systems, payment gateways, staff scheduling and time-keeping systems, job-costing software, project management systems, and so on. You can make the most of these opportunities by becoming an expert on:
Cash Flow Adviser
Bookkeeping Solutions will become your analytical cash-flow consultant by examining cash-flow trends and avoiding the need for business loans or overdrafts.
With a bit of training, Bookkeeping Solutions can help business owners identify the things that drive profitability. These key performance indicators (KPIs) are often the same across whole industries, so it is not like you need to learn a big secret. We can highlight the relevant KPIs for you, help you set benchmarks and monitor progress, and even brainstorm ideas for improving performance. Your accounting software may also provide invaluable small business insights to share with your clients.
Recording day-to-day transactions
Bookkeeping Solutions is being able to judge what systems works in each situation. We’re not talking software choices here — rather referring to the way you organise information and record transactions.
Do you want to keep things simple and just record transactions when they appear in your bank account? Or do you need to record purchases or purchase orders, keep track of how much is owed to supplies, and more?
Recording expenses & supplier payments
Recording receipts & sales
Providing financial cash-flow and advice on the economic position of the company at any given period
Pulling it all together
Let Bookkeeping Solutions provide you with a holistic approach to business bookkeeping.
Complete bookkeeping services
BAS & the ATO
Management reporting – accounting & financial
Accounting & software solutions
Communication on a regular basis that suits the needs of you and your business.
Regular communication makes change easier
Customers can be a source for new ideas
Listening to customers’ needs helps Bookkeeping Solutions tailor & improve customer products & services
Good reputations are spread just like bad ones
Weekly meetings & debriefs are essential in today’s markets
Financial accounting & management
We help with your Financial accounting & management so you can run your business as a going concern.
- Going Concern
Going concern is an accounting term for a company that has the resources needed to continue operating indefinitely until it provides evidence to the contrary. If a business is not a going concern, it means it’s gone bankrupt and its assets were liquidated.
- Financial Accounting
- Financial accounting is the process of preparing financial statements that companies use to show their financial performance and position to people outside the company, including investors, creditors, suppliers, and customers.
Financial accounting is monitoring the business on a regular basis. Understanding the business present earning power & the net worth of the business. This gives a book value of the goodwill to the business.
Advantages: The sound basis for the measurement of income or the profit is provided by the going concern principle. Due to this, goodwill can be used in the business as having present & future economic benefits is recognised as a fixed asset, not as an expense.
- Management Accounting
- Management accounting is a branch of accounting that focuses on the revenues and expenses of a business, as well as asset usage. Someone engaged in management accounting notes unusual spikes and declines in revenues and expenses, and reports these variances to management. The intent of this analysis is to take action to improve the financial performance of a business.
Management accounting is about how to assess your business using business formulas including current ratio analysis, debt ratio analysis, net income to net assets ratios etc. All designed to have another financial discussion about the use of assets in the balance sheet.
Bookkeeping Solutions have trained advisers operating in Newcastle & Sydney
All advisers are fully qualified, experienced and licensed to provide ongoing advice under the latest Australian Financial Services licensing system.
We will work professionally and actively with stakeholders employed by facility operators and their customers, especially in the areas of risk and taxation management, to achieve the best results in a collegiate environment.
Best Possible Care Solutions
It is important to plan ahead if possible, to have a proper care plan done for yourself, family member or friend, so that solutions can be considered, tailored and adopted.
These should be over the areas of home care, residential aged care and clinical care, and our specialist advisers have gained good general knowledge care solutions for you and your family to consider, as well as access to these facilities for you.
Meet your income and cash-flow needs
This is where aged care consultants shine as this is a very complex area for clients to understand because sometimes, for the larger proportion of Australians who need to evaluate a number of factors, you can have a greater disposable income with lesser amounts of funds invested.
Our specialist advisers take into account many factors in the delivery of these optimal solutions, such as investment income when you take into account items such as investment income, pension benefits, tax payments, rates and service fees, care fees, personal assets and single or married income thresholds. Long term planning also considers potential, future residential care costs as part of the process as well.
Combine and retain your Centrelink benefits
Centrelink apply two tests on your financial situation when you enter care, one is based on your assets and the other is based on your assessable income.
Many people may lose their pension benefits when they enter care. Not only does this reduce cash flow potential, it is also an exceptionally large increase in the cost of your care under the means tested fee system. Our advisers examine your situation and calculates the optimal results for you.
This is again relevant as it was only a few months ago since the Government reduced the assets tests for pensioners by a few hundred thousand dollars and removed a few hundred thousand people from being aged pension recipients — we can help with this!
Variable Market Solutions
We can specifically design investment solutions to assist in the aged care investment market. The investment plans focus on two major areas demand & growth and dealing with complex legislative reform.
Key market issues take in:
- The ageing population increasing demand for aged care services
- Growth in the Aged Care Accommodation Bond/RAD market
- Growth in the area of Upfront Management Fees, and service fee models for optimal resident solutions
- Government requirements on reporting of accommodation bonds by aged care facilities
- The complexities of providing aged care compliance and investment advice
- The ability to service Independent Living Units as well as High & Low Care Facilities, Retirement Villages, and Demountable/Caravan Parks
We will speak directly to operators, managers, and trustees on behalf of our clients to target and achieve long-term prosperity to fund future growth by assisting the aged care business.