Expert Bookkeeping Services
Your Trusted Partner in Financial ManagementA bit about Bookkeeping
At Bookkeeping Mate, we understand the importance of staying compliant with the Australian Taxation Office (ATO) while keeping your business operations running smoothly. Our tailored services include monthly or quarterly account reconciliation, providing you with clear insights into your financial status. With our meticulous attention to detail, we guarantee accurate reporting that meets ATO standards. Rest assured that with Bookkeeping Mate by your side, your financial records are in capable hands, allowing you to focus on driving your business forward confidently.
Our Bookkeeping services include:
- Reconciling bank statements and credit card transactions
- Recording and managing accounts receivable and payable
- Entering financial data into specialized software systems
- Processing and documenting purchases, sales, receipts and payments
- Fulfilling ATO obligations and compliance requirements
- Compiling and presenting financial reports for analysis
- Coordinating with accounting professionals for seamless financial management
Everything Payroll
Payroll: At Bookkeeping Mate, we’re more than just a payroll service – we’re your dedicated partner in managing one of your most critical assets: your employees. We understand the importance of swift and accurate payroll processing for the seamless functioning of your growing business. Whether you seek guidance on optimizing your payroll system or wish to outsource your payroll processing entirely, we offer cost-effective solutions tailored to your needs. Our highly-trained staff prioritize accuracy and compliance, providing expert advice and support every step of the way.
Annual PAYG Summaries: Annual PAYG Summaries have to be lodged by 16th July. We meticulously check your entire pay run, ensuring accuracy in every detail, including tax and superannuation. Once approved by you, we swiftly create and lodge your group certificates with the ATO. Your employees can conveniently access their details via their myGov accounts, simplifying the entire process.
Workcover: Ensuring your annual remuneration information is up-to-date is crucial, especially for Workcover compliance. We simplify this process by assisting you in updating your annual remuneration data and submitting it to Workcover. Our proactive approach helps you avoid penalties by ensuring accurate premium calculations for your insurance coverage.
Transitioning to Single-Touch Payroll (STP): Is your business ready for Single-Touch Payroll (STP)? As a registered BAS agent, we’re well-equipped to handle your STP requirements seamlessly. Whether you prefer us to manage reporting to the ATO on your behalf or wish to oversee it yourself, we ensure a smooth transition to STP, guaranteeing compliance with your ATO obligations. Let us take the stress out of STP implementation so you can focus on your core business operations.
Paid Parental Leave: Navigating the complexities of the Centrelink system when new parents in your workforce require leave can be daunting. Rest assured, we’re here to guide you through the process seamlessly. We’ll provide clear instructions for you and your employee and handle all necessary communications with Centrelink to process any required payments efficiently.
Payroll Tax: In Victoria, payroll tax is applicable depending on the total monthly wages paid by employers. If your monthly payroll exceeds the threshold of $54,166 as of 1 July 2019, yould be subject to a tax rate of 4.85% (2.425% for regional employers). This tax is levied on both wages and supernanuation contributions. The State Revenue Office (SRO) monitors payroll tax compliance, and it’s crucial to ensure accurate reporting as your business expands. We will diligently manage your payroll, ensuring complaince with payroll tax regulations and accurate calculation of tax liabilities on employee wages and super contributions.
CoINVEST: For those in the construction industry, quarterly reporting to CoINVEST for employees’ long-service leave entitlements is a must. Let us take the burden off your shoulders by managing this process for you. We’ll provide CoINVEST with comprehensive details on your employees’ workdays and earnings, ensuring compliance with industry regulations.
BAS (Business Activity Statements)
As registered BAS agents, we’re dedicated to ensuring that your Business Activity Statements (BAS) are lodged accurately and on time. Once you’re registered for GST, your BAS becomes a vital part of your financial responsibilities, typically lodged quarterly or monthly. Your BAS will include your:
- Goods and Service tax (GST)
- PAYG withholding tax (if applicable)
- PAYG Instalment (if applicable)
- Any other taxes
Our meticulous approach involves filling in all necessary fields, lodging your statement promptly on our BAS Agent portal, and providing guidance on whether you’re due for payment or entitled to a refund. Our approach is methodical and exact, relying on detailed charts to maintain accuracy and automated reminders to uphold punctuality. This systematic workflow ensures that we never overlook a deadline, providing you with peace of mind and consistent, reliable service.
IAS (Income Activity Statements)
In addition to BAS, we also assist with Income Activity Statements (IAS). If your annual PAYG withholding from employee wages falls between $25,000 and $1 million, lodging an IAS becomes necessary. This statement outlines your gross monthly wages and the PAYGW (tax withheld from payroll). We handle the lodgment process with the ATO on your behalf, ensuring compliance and accuracy. Your PAYGW obligation is then payable to the ATO by the 21st of the following calendar month. Trust us to manage these critical tasks, allowing you to focus on the core aspects of your business.
Personalized software setup and training
At Bookkeeping Mate, we understand that adapting to new software can be daunting. That’s why we offer comprehensive training sessions as part of our service package to ensure a smooth transition. Our expert team will guide you through the setup process and provide hands-on training tailored to your specific needs. With our support, you’ll master the new software in no time, empowering you to maximize its potential and streamline your business operations.
Admin support
At Bookkeeping Mate, we understand that dealing with tax matters can be complex and time-consuming. That’s why we offer a comprehensive service where we handle all tax-related tasks on your behalf. From communicating with the tax office to addressing inquiries and resolving issues, our team ensures compliance and peace of mind. Additionally, we liaise closely with your tax agent, providing them with relevant reports and information to streamline the tax filing process.
Alongside our tax services, we also offer efficient accounts receivable and payable management, ensuring timely invoicing, payment processing, and maintaining accurate records. With our expertise, you can trust that your financial affairs are in capable hands, allowing you to focus on running your business smoothly.