Software Set Up, Training & Health Checks
Do you need help with Xero or MYOB?
We’re a Xero Silver Partner and MYOB Professional Partner. Get it right, now – to save time and money later! Our friendly and experienced Business Services Accountant, Lisa Wilson, can set up your accounting system and teach you how to get the most out of it. Lisa works alongside Electra Frost on all functions of business accounting and tax, so you will benefit from their wealth of knowledge and strategic approach. Lisa can work with you over Skype video so you don’t even need to leave your office! Whether you’re setting up a new file, migrating from an old system, getting your existing records into order, can’t BALANCE… or just need to know because you don’t know what you don’t know…! We can make this work for you.
1. New System Set-Up and Training:
Initial meeting includes:
- Choose the right software and subscription levels for your needs and budget
- Set up subscription with software provider
- Create your Chart of Accounts, tailored to your business
- Set up the bank feeds
- Enter conversion balances
- Introduction to settings, features and system navigation.
Follow up meeting includes:
This is booked once the bank fees are active, usually 1-2 weeks later.
- Import historical transactions and update bank balances
- Train you on the essential daily bookkeeping functions – document management, contacts, invoicing, tracking debtors, bills, cash expenses.
- Set up some transaction rules and automations
- Show you how to allocate banking transactions
- Introduction to accounting reports
- Tips on how to get the most of the system and work well with your accountants and advisers.
- Advice Notes – a personalised summary and reminder of what was discussed and recommended to you.
COST: $300 plus GST. Optional extras, if required:
- Employee set up, payroll and superannuation functions.
- Full bank reconciliation
- Importing data from other system, e.g. card files.
- Assistance with compatible software ‘Add-Ons’
- BAS preparation advice – GST and PAYG instalments basics.
2. Existing System Health Check
Can’t work out why you can’t balance? Have you had some difficulty maintaining your Xero or MYOB file yourself? Could it have been set up better? Do your accounts need a bit of a tidy up before tax time? Let’s get forensic on your file! Don’t waste hours and evenings trying to work it out by yourself. You need professional help. We can identify the problems, tell you what needs fixing and how, train you on how to manage the system better and offer some great solutions. Includes:
- Pre-consultation questionnaire – to tell us your concerns.
- Preliminary analysis of your system set up , transactions and balances
- Consultation on Skype video – discussing our findings, making recommendations, and training
- Correcting some income and expenses classifications and GST coding with you
- Balance sheet analysis
- Follow-up advice notes for your future reference.
COST: $250 to $450 plus GST, (depending on how extensive and needy your accounting records are) Optional bookkeeping extras, if required:
- Extensive re-classification of incorrectly recorded transactions
- Entering invoices, bills, cash payments; and annual bank reconciliation.
Contact us now with any questions. We look forward to assisting you!
Accounting, Bookkeeping and BAS Services
We can recommend suitable software. We can help set up and maintain clients’ accounts online in Xero or MYOB Essentials, on PC or Mac, with automatic bank feeds. Ask us for regular BAS reminders and referral to trusted ‘cloud accounting’ bookkeepers and trainers.
Under tax law, if you are carrying on a business you must keep records that record and explain all transactions and the methodology used to derive an estimate, determination or calculation. Unless your affairs are simple enough for a basic cashbook system it can be pretty time consuming and difficult to ‘do-it-yourself’ without accounting experience.
We’re here to help!
Accurate, bank-reconciled and reliable accounting records with correctly classified transactions readily provide the information your accountant needs when preparing your BAS or tax returns. Rather than checking that all the numbers are in the right place your accountant should be focused on the bigger picture: identifying opportunities for your tax benefit and formulating valuable advice.
As professional accountants with great IT systems, we can offer streamlined and efficient alternatives to traditional bookkeeping. Our services aim to save you time and money and obtain you the best value from your consultations with Electra Frost.
We make it easy with MYOB Essentials and Xero
Do you need a simple, cost effective and accurate system for completing Business Activity Statements (BAS)?
MYOB Essentials and Xero provide a range of tools and services to help accountants and business clients streamline their accounting requirements.
Bottom line – it is bookkeeping and BAS made easy, and affordable.
- You can log in to your online file anytime to create and send invoices to your clients and record bills from suppliers.
- Then match the bank transactions against the invoices when paid.
- Attach electronic copies of your bills to their entry in the system.
- You can easily run sales reports in MYOB to chase up outstanding receivable accounts, to help you get paid sooner.
- Each day, week, month or quarter you can match or code the transactions, checking the GST on your tax invoices when necessary.
- Record “Rules” so as time goes along your system can memorise regular transactions by amount or description.
Your time required could be reduced to around 30-60 minutes a month compared to endless hours of head scratching and cussing at the computer.
The benefits to you of MYOB Essentials and Xero include:
- Your accounts are processed faster, more efficiently
- You have essential, up-to-date information for business decisions
- You can generate easy-to-understand monthly management reports
- You spend much less time on compliance issues, freeing you to work on productive business activities
- Your GST information will be prepared effectivel
- Your BAS can be lodged by us before the due date
- Your accounting records can be ready for us to do your Tax Return as early as July!