Frequently Asked Questions

If you've started your own business, chances are good that you're passionate about it and want to focus on things you enjoy doing.

However, if you're like most business owners, you probably aren't too concerned about tracking down every detail of each financial transaction made by your business. Imagine for instance that you own a hairdressing salon, or a retail store.

You may have:

- A simple business model
- A high transaction rate with lots and lots of customers
- Many sales per day – perhaps dozens or even hundreds
- Suppliers' invoice details POS sales
- Supplier invoices to record
- To reconciling split shift and end of day takings
- Staff salaries to record and pay.

It’s a lot of information to keep up with! And bookkeeping might not be something you enjoy or have time to understand. If you don't keep track of your expenses properly, they could easily pile up until EOFY without any record at all. Mistakes could happen and important details could get lost or forgotten.

That's where bookkeepers come in.

They can help relieve some of the burden from running a business.

And by they, I mean me! I can take away the day-to-day recording of receipts, invoices and other transactions.

Bookkeepers keep records for business purposes; accountants keep records for tax purposes.

They do this so that your accountant can quickly and easily process your financial information.

They'll:

-Keep track of every purchase you make, whether it’s yours or someone else’s, including taxes owed and credits earned.
- Use an appropriate method for recording financial transactions in accounting software like Xero, QuickBooks or MYOB.
- We'll help you understand the numbers so you know where they come from and how they're related to each other. For instance, we might assign certain client costs to particular projects.

There’s more to bookkeeping than just tracking every transaction. People who do this work are usually highly skilled at using accounting software.

They will help you understand:

-bookkeeping rescue work
- tidying up mistakes made by inexperienced staff
- training for small business on using accounting software.

They can also provide daily support services for small business owners who need help every single day. A great bookkeeper is like having an extra set of eyes for managing your books.
BAS stands for Business Activity Statement.

It is an Australian Tax Office (ATO) issued form used by any GST Registered business to capture a summary of their GST movement within a period of time.

Should your business have any staff, Payroll Reporting such as PAYGW, is reported on the BAS or IAS (Instalment Activity Statement )
After a meeting and review of your current business situation, I would love to help you submit your BAS. Send me a contact form and we can get started!
After a meeting and review of your current business situation. We can flag any Grants that are applicable for your business.
More questions? Ask here!
Keep track of finances, organise your financial data, get trained in Xero or MYOB, and get your BAS done right with Grace Foley Bookeeping. Located in Hobart Tasmania, Grace can rescue your books and help you make more time for the things you want to do.

BAS Agent No. 96331006
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