Bookkeeping Services on the Gold Coast

Bookkeeping can be seen as a simple process in that it is the recording in the books of a company the financial events that have happened in the business. It’s based on a system of double-entry bookkeeping that was invented more than 500 years ago and is still widely in use today.

A bookkeeper is different to an accountant in that the former is responsible for recording all financial transactions and ensuring they are accurate. The accountant will then interpret those transactions, creating reports and accounts that set out how the company is performing and its overall situation. The basis for many of these reports and accounts is the general ledger, which is maintained by the bookkeeper.

The keeping of accurate books shouldn’t be underestimated since they’re required to comply with the ATO for tax and reporting obligations. Although you can handle it internally using your own staff, you must be sure they’re fully competent. If they’re not, or the company is not big enough to warrant a full-time bookkeeper, using Quill’s services is the answer.

What Bookkeeping on the Gold Coast Involves

Modern bookkeeping is about much more than simply entering transactions in books of account, although this is essential in order to be aware of the company’s situation. A professional bookkeeper will:

• receive supplier invoices, reconcile and check against purchase orders and then enter them into the purchase ledger
• pay suppliers and record those payments
• record sales invoices into the sales ledger
• check receipts from customer against sales invoices and record them in the sales ledger and cash book
• maintain employee payments and payroll records
• reconcile bank statements to the cash book and check for errors
• record expenses paid in cash and check their validity
• maintain the general ledger as a basis for monthly and annual accounts
• produce required reports and accounts, particularly for BAS purposes.

A professional bookkeeper isn’t just concerned with the historical recording of transactions but is involved in the daily operation of the business. As such, the bookkeeper will be looking to improve processes so that information is more readily available and the recording of transactions is part of the way the business works.

Obtaining the Appropriate Bookkeeping Services on the Gold Coast

If the size of your business doesn’t warrant a full-time bookkeeper or you need a professional approach to ensure everything is done properly, Quill can help. Bookkeeping is just one of the services we provide and integrates fully with our other offerings to ensure you have a complete financial service.

As with other services, we tailor our bookkeeping to the needs of your business so that we never provide too much or too little. Unlike some companies, we don’t treat bookkeeping as a loss-leader that is provided so that it will lead to other services.

Bookkeeping is a valuable service for any business and we treat it as such. All our bookkeepers are fully trained, formally qualified and are professional in their approach. They treat each job with integrity and confidentiality, attending to each client’s individual needs and using their initiative to improve methods where possible.

Like all our staff, they have full professional indemnity insurance so you’re covered against anything that is likely to have adverse financial consequences for your business. A Quill professional bookkeeper will always keep you fully informed of what’s happening so there are no nasty shocks, only books that are accurate, compliant, up-to-date and provide the information you need.

Whether it’s individual or commercial tax needs, financial advice or strategies to grow your business, the Quill Group has you covered!

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