Accounting & Bookkeeping / Tax Agent is an essential function for any business, regardless of size or industry. Keeping accurate records of financial transactions is crucial to maintaining a healthy business and making informed financial decisions. However, managing bookkeeping tasks can be time-consuming and overwhelming for business owners, taking away valuable time and resources from other critical business functions. This is where a bookkeeping package can provide significant benefits.

Standard package

Core duties

  • Data entry: Recording financial transactions and balancing the books.
  • Scan invoices. Xero rec scanner OR Clients preferred Account software
  • Saving Rec/Invoice.Each invoice will have a file in our system whereby rec/invoices are recorded and saved.
  • Bank reconciliation:Cross-referencing the books against bank statements and other source documents to confirm accuracy.
  • Monthly reports:Summarising the business’s financial position

Median Packages

Core duties

  • Accounts receivable (and credit control):Creating and sending invoices and following up to get them paid.
  • Accounts payable:Making sure invoices from suppliers are accurate and paid in a timely manner.
  • Payroll:Calculating pay and deductions. Updates excel record of all staff sick and annual leave, award allowance, any fringe benefits tax

Advanced Package

Core duties

  • Tax filing:Preparing tax returns.
  • Payroll: Set up superannuation, tax file number, record leave, and assign wages per the approved amount
  • End of year reporting:Assisting with annual profit, loss, and balance sheet reports.
  • BAS: Assist accounts with the preparation of BAS
  • Business strategy:Creating budgets and forecasts and advising on how to improve the business.
  • Business process:Reviewing, researching, and implementing software solutions and internal controls to streamline the business and enhance performance.
  • Liaison:Meeting with accountants, on behalf of their clients, about financials and tax queries. Acting on behalf of the client with the tax authorities.
  • Business Structure: As an accounting agent, you can assist businesses in determining the best business structure for their needs. This could include advising on the differences between sole proprietorships, partnerships, corporations, and LLCs, as well as helping to complete the necessary legal documentation for each structure.
  • Business Setup: Accounting agents can also help businesses with the setup process by assisting with tasks such as:
  • Registering the business with the appropriate government agencies
  • Applying for necessary licenses and permits
  • Setting up accounting systems and procedures
  • Creating financial projections and budgets
  • Advising on tax-related issues and ensuring compliance with relevant regulations

Disclaimer

Your One Hub PTY LTD does not provide accounting, tax, business, or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business.

While Your One Hub PTY LTD aims to provide you with a customized and reliable service tailored to your business needs, we cannot guarantee that our prices will remain the same. Due to the price increase of materials and maintenance of staff, our prices are subject to change based on the specific services and materials required to fulfill our duties. We will do our very best to keep our prices competitive while maintaining the high-quality services that we are committed to providing.

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