In simple words bookkeeper or an in-house accountant maintains everyday accounts, which involves entering and coding all business transactions ( Journal and General ledger entries) , ensuring all sales payments are received and allocated appropriately, and all suppliers are paid correct amounts for the purchases. Various reconciliations; bank, sales, wages etc.; and tax returns PAYE, FBT and GST; and month-end closing reports are also a part of the bookkeeping. Depending upon the business size and requirement, a bookkeeper can also coordinate with management in setting up new budgets, prepare regular management reports and analyse organisation's performance for internal reporting purposes.
As the year-end financial reports and Tax Returns are prepared on the basis of accounting transaction coding done throughout the year, it is extremely important that the bookkeeper is suitably experienced and qualified.
We highly recommend outsourcing bookkeeping work for small businesses, it gives you the best of both worlds. You don't get bound by any employment law (no contract or employment regulations) and don't have to worry about providing basic amenities (space, equipment, kitchen etc,) and yet you get the service of highly experienced professional at a fraction of price.
We offer various options for affordable bookkeeping services.
- We can provide regular on-going bookkeeping work at a fixed price, or one-off hourly or daily work.
- We offer flexibility to work from your premises or ours or mix of both.
Please contact us for a 'no obligation' appointment to discuss the most suitable bookkeeping price option as per your business needs.
As an Inland Revenue approved Tax Agent, we are foremost to receive information and updates on any new tax policy or legislation. As public service provider, Certified Bookkeeper (2019), MYOB and XERO partner, we are required to engage in continuous professional development. We also use many other industry specific SAP equivalent software and Apps to maintain data, have experience working with different industries; importer, manufacturer, service provider, tradies, online resellers, motor vehicle dealers.
Preparing regular wages and keeping track of all leaves and constantly employment legislation would be hard to keep up with. Not to mention appropriately categorising payment to employee which could be expenses, bonus, reimbursement or wages. Making correct deductions and paying the correct pay amount to each employee could be exhausting.
There are so many concerns while preparing wages each time.
Do you need to pay annual leave or a holiday pay, can sick leave be approved and how many? Are you making correct deductions for child support? Have you not over deducted the ministry of justice fines? what happens when last day of employment is a public holiday. What day should I make final pay for a departing employee. Do you need to make changes to wages already submitted to IRD? Do the benefits provided to employee falls under FBT rules or exempted? The new employee wants to opt-out of kiwi saver, how should I proceed.
It is worth outsourcing a Payroll services if there are considerable size of employees working for the organisation.
To prepare wages, time sheet can be emailed to us or shared through google docs. You can also use payroll app now provided by many accounting software providers. XERO payroll app XERO me is also available for mobiles operating on both operating systems either android or IOS.
- Check the organisations and employee settings and leave balances.
- Payroll software installation and organisation set-up if required.
- Setting up new employees
- Preparing weekly/fortnightly wages.
- Preparing fortnightly wages for departing employees.
- Payday filing with Inland Revenue.
- Monthly & yearly wages & PAYE reconciliation.
- Employee anniversary legislation.