Basic Terms and Conditions of using Bookkeeping Fee Calculator services
- The calculated price is applicable for small businesses - Sole Traders, partners in a partnership structure or a company with individual shareholders (not a trust, society, club or Holding company).
- You are using Accounting software which provides functionality of the service you need, XERO provides all functionality, and MYOB Essentials has limited features. We can advise you which software is best for the service you require.
- Your accounting software is set up correctly with the 'customised chart of accounts', GST set up, and bank feeds are active for all business bank and credit card accounts.
- You are required to make the correct amount of tax payments on time, to a correct tax account, for a correct tax period.
- You are required to keep all business records as required by legislation.
- You are to provide relevant information and documents on time, It is your responsibility to double check that information and documents provided are correct.
- You are expected to be aware of all regulations relevant to your business and employing staff.
'Transaction' means each line of deposit and withdrawal on your bank and credit card statement, and provided spreadsheet.
You need to provide:
- Clearly named and sorted receipts and bills to be provided or attached next to each transaction, or a note detailing kind of expense. (unless you are using our 'Sorting. naming and filing' service)
- Balance for all business bank and credit card accounts at the end of every month or every two month.
- Expenses made from non business accounts to be provided in a spreadsheet template provided by us.
What will you get
- Bank and Credit card reconciliation report for your all bank and credit card accounts.
- GST detailed report
- GST submission confirmation report from IRD.
Debtors
What is not included in the price
One- off set up costs may be applicable if we need to set up or edit Invoice format, debtors data migration etc. We can also set up an invoice to accept credit card payments.
Communication with clients or follow ups for payment is not included unless you are using our 'Dedicated email monitoring and replying service'
You need to Provide:
- Details of payment terms, clients' name contact & email.
- Details of service/goods to be invoiced for and price per unit.
- Your Business bank details to receive payments.
What will you get
- Copy of invoices sent to clients.
- Copy of remittance notes sent to clients.
- Sales payment from clients deposited in your business bank account.
- Accounts receivable report.
Creditors
What is not included in the price
One-off set up cost may be applicable to set up contact and bank details for suppliers.
Communication with supplier re invoices or statement is not included unless you are using our 'Dedicated email monitoring and replying service'
You need to Provide:
- Supplier's Bills
- Supplier's Statements
- Supplier's Contact and bank account details (to pay suppliers)
What will you get
- Accounts payable Report
- Report of unreconciled payments, if any
- Copy or payment receipts sent to suppliers.
- Accounts payable report.
The payroll prices are applicable only if;
- All employees are using a payroll integrated timesheet app like XERO Me.
- All employees are permanent and work a fixed number of hours per payrun.
- We receive an approved timesheet before 9 am on salary payment day.
What is not included in the price, and will be charged extra
- Setting up Payroll
- Setting up Employee,
- Setting up a deduction
- Finalising wages of departing employees.
- Deleting and redoing past payroll or once payroll is finalised.
You need to Provide and do:
- Access to Payroll software
- Timesheets approved online.
- pay wages on time
- Pay PAYE tax to IRD on time
What will you get
- Pay run Draft (showing wages and PAYE amount) before finalising pay for your approval.
- Copy of payslip sent to employees
- Payday filed with IRD (No report is generated )
- Monthly PAYE filed with IRD
Prices are based on monthly or two monthly reconciliation and reports. If you choose to have quarterly or six monthly reports, we will provide you the cost estimate.
- Reconciliation is a prerequisite for a correct financial reporting.
You need to Provide:
We will ask you to provide required documents based on your business structure and transactions.
What is included in the Reports
* Reconciliations (GST, PAYE, Loan/Finance, interest or Penalty paid to IRD, Depreciation, drawings and funds introduced, Adjustment journal entries)
- Interim Financial Reports- Statement of Financial Performance and Balance sheet (Cashflow report if applicable) includes 5-10 minutes phone consultation advising outcome of report analysis.
- Shareholder current account (for company only) - Interim balance of Shareholder Current Account, includes upto 15 minutes of phone consultation advising steps to avoid current or future overdrawn shareholder current account.
- Current year income tax forecast: Income Tax payable amount forecast for business and individual so you can mange your finance more efficiently. The Current year income tax forecast is only for the purpose of information and cannot be used for filing tax returns. Includes upto 15 minutes phone consultation advising outcome of report and how can you manage your finance better and fulfill your tax obligation.
We request one month deposit (minimum $400) in lieu of one month notice period. Our fee is required to be paid in full before we complete our work.