Services | Bookkeeping Service

We work with businesses of all shapes and sizes. We will simplify your internal accounting and bookkeeping processes and show you which bottom line numbers you should be focusing on.

We ensure that company’s expenses, income, and transactions are recorded in the company’s books and reconcile the company’s financial accounts, typically on a monthly basis. we also help with financial statement and financial report preparation.

We offer physical onsite bookkeeping services for small businesses in all the major suburbs in Sydney and via the cloud interstate. Whether you need us for one day a week or the whole week, we will tailor our service to suit your needs. From reconciling bank statements to making sure your BAS is filed on time, we will keep the backbone of your business running accurately and on time.

Have you always struggled with organising your bookkeeping and accounting processes in order to increase your overall productivity? Or perhaps you’ve always been stuck making decisions for your small business because you struggle analysing your financial progress reports?

If you answered YES to all, then this is what Irena’s Bookkeeping Services comes in We will take care of your books while you focus on making more sales for your small business. Check out our accounting solutions and see which suits your needs.

Software Setup and Data Entry for:

• XERO Bookkeeping
• MYOB
• Quickbooks Online
• Catsoft Ledger
• Cloud Bookkeeping
• Small Business Bookkeeping
• Accounts Payable and Receivable
• Inventory Control
• Month and Year End Accounts and Reporting
• Bank and Credit Card Reconciliations
• Profit and Loss Statements
• Invoicing
• Manual Bookkeeping
• Filing and Other General Office Duties
• BAS

Worry About Single Touch Payroll

Single Touch Payroll (STP) was introduced on 1st July 2018 for all businesses with 20 or more staff (substantial employers). The Bill to extend the Single Touch Payroll (STP) reporting requirements so they apply to all employers, regardless of the number of employees has now passed the Senate and will be Law.

This means STP is set to be rolled out in stages to smaller organisations with less than 20 employees as at 1 July 2019.

Whilst there are still elements of the STP rollout for smaller organisations that need to be defined by the ATO, what is clear is that you need to be aware of what STP is, and what it will mean for you into the future.

What do you need to know?

STP will require you to have your payroll transaction data transferred to the ATO each time your employees are paid. This may require you to use a software solution that will transmit the data to and from the ATO on your behalf.

This payroll or reporting system must be STP Compliant, so that each pay cycle you can report the following items to the ATO:

• each employee’s name and tax file number (TFN)
• gross amount paid
• tax withheld on the gross
• ordinary time earnings for the period, and
• any superannuation guarantee obligations.

The ATO will then report to you each month or quarter the correct amount of PAYG tax withheld to pay in your activity statement. Also, each quarter there will be information available regarding your superannuation obligations to either pay the ATO clearing house or your independent provider.

As part of the new regime, the reports and liabilities owing will be available to you in real time. This means that, if you wish, you will be allowed to make payments towards PAYG tax withheld and superannuation contributions in your pay cycle before the due date.

If your system is already automated with reports that can provide the information listed above for every pay cycle, all you need to do is confirm if your product is STP compliant.

However, if your system is still manual it is now time to discuss and review your internal processes. The STP regime is mandatory for employers of more than 20 staff from 1 July 2018, and will be mandatory for all employers by 1 July 2019.

https://www.ato.gov.au/Business/Single-Touch-Payroll/

Our advice is to become STP ready to avoid any fines or penalties in the future from the ATO. In the event that you need a solution or just want your system reviewed, we are happy to help by advising a suitable cost effective solution.

The Accountax Services is offering a full in house payroll service to cater for all your staff and payroll needs , including payslips , super, PAYG, Payment summaries STP obligations at a minimal monthly fee. Let us free you from payroll compliance and take care of all your payroll needs.