Xero Certified Partner | Bookkeeping Services

Does Your Business Need Accounting Advisory Services

22:01 as 0 Comments

Do you feel that your business needs better accounting and financial advice? If so, then it may be time to consider getting a professional accountant. You might think this is too costly for your small company, but there are many options available to help startups with tight budgets. Accounting Advisory Services offers affordable services tailored specifically for your needs. Whether you need assistance setting up an accounting system or want expert guidance on how to handle the finances of a growing company, they can help!

Does your business need additional support?

Financial data analysis

Advisory services can step in to fill the gap between services that bookkeeping and CPA firms offer their clients but cannot execute themselves. Financial management is particularly vital because diligent bookkeeping services and accounting contribute significantly to the availability of cash in any business. Accounting also helps optimal management of existing cash and resources in a business. Cash is also locked away in unpaid invoices, dues not yet cleared, and collections not completed.

Empowering financial management

Financial management begins with consistently reliable accounting and financial reporting. This foundational work can help businesses enter a cycle of profitability: diligent bookkeeping allows better tracking of money due and cash flow. In turn, accounts receivable are well managed and kept at a minimum. Good communication practices support collections and help with cash flow management. Financial management helps businesses stay informed of the actual cash position, contributing to better decision-making and smarter investment choices.

Financial management also needs to stay empowered to make growth-oriented decisions, including keeping the leadership supported with actual data on the business’ financial health. When embraced fully, accounting advisory services can help leadership function in a more accountable and transparent manner, working in a synchronized way for the betterment of the business.

Contact us here for Accounting Advisory Services.

Why Outsourcing Payroll is Beneficial for Business

22:00 as 0 Comments

Outsourcing payroll can be beneficial for your business. There are many reasons why outsourcing your payroll to a professional company is the best decision for you and your employees. Outsourcing will save money, time, and provide peace of mind knowing that all of this year's tax filings are completed accurately. You'll also have access to exclusive payroll software solutions with an outsourced provider which will make life easier on you and your team.

Integrating multiple payroll elements

The payroll industry is complex. To make the process easier and less stressful, we have compiled a comprehensive list of all the parts that need to be considered when setting up your company's payroll services. This guide will help you understand what services are available and how they work together to provide accurate payments to employees on time.

Reliably managing bookkeeping and finances

When it comes to bookkeeping and finances, there's no such thing as too much organization. With the right tools, you can provide reliable insights into your company's financials and accurately manage payroll.

If you're ready to jump on board with a system that provides all of these benefits in one place, then we invite you to explore our new cloud-based software for payroll management. It works seamlessly across devices so that you can get the information you need at any time or location!

Every small business owner knows that it is important to maintain a dependable and accurate set of books. However, many also know the difficulties involved with balancing all aspects of running a business. Our goal at Account-Consultant Company is to make bookkeeping as simple and effective as possible for you so you can focus on what matters most: running your business!

We offer payroll services, general accounting services, bookkeeping software, financial reports and more!

Contact us today if you have any questions about how we can help your company.

Important to Convert Your QuickBooks to Xero

03:22 as 0 Comments

If you are currently using QuickBooks to Xero conversion accounting software program to manage your books, there are 3 key reasons why you should consider converting your existing data:

1. Prior Period Comparison

Xero allows you to convert data for the last two fiscal years. This will give you the ability to run comparison financial reports such as income statement, balance sheet and cash flow statements. Having the ability to compare the current year to previous years can help you to identify trends in income and expenses and other key areas that impact the bottom line. Note: If you want to convert more than two years worth of data, there are a few Xero partners that will do it for a cost. You can learn more here.

2. Faster than Starting from Scratch

By converting your existing data, Xero will transfer all of your information such as customers, suppliers, invoices and bills. This can save you a lot of time that you would have normally spent setting up your business from scratch. Note: If you did not do a good job of managing your books in your old system and you would prefer a fresh start then you should not convert inaccurate data. As the old adage goes “Garbage in, garbage out”. Head over to our How to Set Up Xero course which includes 15 video tutorials that will walk you through step by step on how to set up your business from scratch.

3. It’s Free!

As a business owner, we know how tight cash flow can be. Xero will convert your QuickBooks file for absolutely free! To ensure a successful conversion, there are a few steps that you need to take to prepare your QuickBooks file for the conversion. We will cover these next.

Contact us here for Convert Your QuickBooks to Xero.

How to Converting from QuickBooks to Xero ?

03:20 as 0 Comments

There are many reasons a company or its bookkeeper or tax preparer/accountant may want to convert a set of accounting books from the Quickbooks platform to the Xero platform. I will make no attempt here to discuss the possible reasons for or against doing so. I have done many of these conversions, as I have also done in the opposite direction. The only purpose of this article is to discuss the basics of doing the conversion. Whether or not it is the right thing to do is a discussion for another day.

When converting a company file from QuickBooks to Xero, the first thing to decide is whether the historical transactions will be part of the new file and if so, how far back to go with them. It is certainly convenient to have historical transactions in the file in case a question comes up, rather than having to search an archived record, scanned documents, or worse, paper records. However, including them also increases the cost and effort required to achieve the conversion.

How much additional work and cost depends on many factors like the number and variety of transactions, number of accounts with cash transactions, tracking of inventory, payroll, and so on. Only someone with experience in converting the kinds of transactions in a company file can advise about these issues.

Unless the conversion is being done at the beginning of the fiscal year, there will undoubtedly be some transactions to convert from the QuickBooks file to Xero. Before converting, save a copy of the balance sheet and income statement reports (Xero’s and most of the accounting world’s name for the profit and loss report) for all dates, using both cash and accrual methods and also the detailed Accounts Receivable and Accounts Payable reports.

Convert from QuickBooks to Xero: Best for Business Explorer

00:28 as 0 Comments

Let us assume that you are a small business owner based in the united states of America, and you hear quite a lot about Xero. That has made you curious. Would it not be marvellous if you could see how Xero works using your data? With a New Service, Quickbooks to Xero Migration, you can now import your data for free!

Especially in accounting, before testing any new software or a service, if real-time data used, it becomes way easier to make a decision. Many Bookkeeping Outsourcing Services agencies would help you import data from Quickbooks to Xero.

List Of Things You Can Convert With QuickBooks To Xero Migration

So what are the things that converted when you choose to Switch QuickBooks to Xero? Below is the list of some such products:

• Bank Receivables And Payable
• Fixed Assets
• List of Accounts
• Details of Your Company
• One Account Receivable
• Details of Your Suppliers
• Journal Entries
• Details of Your Customers
• One Account Payable
• Invoices
• Bills

For the free trial version, you can convert only current and fiscal year’s data. Once you are satisfied, you can opt for full conversion with the paid service. The products that offer this service are all QuickBooks Software, i.e. Primary, pro, simple start, online, mac, and premier, that support US versions 2007 and later.

But bear in mind that there are certain things that the QuickBooks to Xero Migration will not support. These points are, you would not be able to transfer inventory assemblies as well as activities. In the free version, you can work on only one currency. This service is not available for enterprise editions.

This service is only available for US versions of QuickBooks. Xero does not allow to create journal entries from accounts receivable and payable. If you keep these in mind, your process of converting QuickBooks to Xero would be a piece of the case. Just Contact an Account Consultant if you need any other assistance.

Complete Payroll Outsourcing Services Can Serve Your Business

00:27 as 0 Comments

Providing wages and salary include a lot of things other than just giving out money, a good Integrated Payroll Services Company would help you manage your Payroll. Payroll is an extremely redundant task, so when you opt for Outsourced Payroll Services, essentially you are giving your accountants a chance to focus on improving your firm’s profitability.

No matter what the size of your company, partnering with a payroll service company would be beneficial to you. Since it is the goal of all companies to grow, and with it, the number of employees increases.

So when you opt for Integrated Payroll Solutions for small business, it could help save up on your resources, cost and time. You could then invest these in improving your product and services.

How Complete Payroll Outsourcing Services Can Serve Your Business

This service would help improve employer-employee relations. Since top-notch outsourcing companies, like Account-Consultant, are aware of the legalities, the chances of ever encountering a legal case almost diminishes.

Along with this, even the employees would be benefited with an extremely transparent process wherein they would be able to access their leaves and other benefits directly. We help you deal with payroll services for small business or individual in Australia.

Payroll tax calculator includes the calculation of the paychecks, by calculating the correct withholding amount. You would also be in charge of the time and the delivery of the paychecks. Along with this, this service would also give you reports wherein you will get detailed employee analysis from vacation hours to overtime.

Since all of this happens seamlessly, it would be beneficial to the business in a way that less company time wasted and profitability increases. There are many firms that provide Integrated Payroll Services, Account-consultant is one of them. Contact Us today to achieve better productivity at affordable costs.

How Outsourcing Accounting Can Help Grow Your Small Business

22:34 as 0 Comments

Small business owners are notoriously short on time. They manage everything from sales and marketing to employee scheduling and benefits, not to mention being an expert in whatever good or service it is that their business offers. And there are hurdles every step of the way as you try to grow your business. Hiring an outsourced accounting service can help you tackle many of these including ensuring you don’t pay too much in taxes, that you have time to focus on sales and marketing, and that you are able to prepare thorough financial reports for investors.

Why is an accountant important in a business?

Accountants consider the big picture strategy needed to keep your business strong and growing. They can answer your questions about financial reports, cash flow, depreciation, and more. They can give tax savings advice, such as when to make capital purchases, what you can deduct, and how to reduce taxes on capital gains. They can identify opportunities to improve profit margin and business growth and keep you legal – preventing missed deadlines and non-compliance penalties.

When you’re looking to grow your business but don’t have the time or resources to do so, hiring an accountant or outsourced accounting service like Account-consultant can free up your time and provide insights and ways into how you can increase your cash flow, strategically prepare for your taxes, and focus on what you do best.

Outsourcing accounting can help you grow your business. By outsourcing your accounting, you can save money on hiring a full-time accountant, plus, it will give you more time to focus on running your business and creating value for your customers and your employees. Account-Consultant is all about providing timely and accurate financial information to business owners allowing them to make strategic decisions. If your business is struggling, know that there is a better way and Account-Consultant can help. Contact us here for accounting services.

Why You Should Outsource Your Online Bookkeeping Services

22:33 as 0 Comments

It’s common for a business owner to want to save money on outsourcing bookkeeping services and do it themselves thinking, What can go wrong… it’s just data entry!?” But, it’s all too common to make novice mistakes that can cost you a lot of time and money. Plus, your financials become more complex as your business grows – more expenses, and ideally more income! And you may want to borrow money or open a line of credit, so you don’t want to be scrambling to provide up-to-date financials for your lender right then and there.

What is outsourced bookkeeping?

When you don’t have the complexity or volume of transactions to require hiring a full-team bookkeeper or accountant (yet!), but you need a reliable source to delegate this important work to—choosing outsourced bookkeeping is the way to go.

Why should I outsource my bookkeeping?

Being a successful entrepreneur doesn’t equal being an expert at financials. One mistake can lead to tax issues and may require additional effort or redoing an entire month of books, so outsourcing bookkeeping services save you time, money, and stress. From entering transactions to monthly reconciliations to real-time tax coding, you gain accurate, up-to-date books and a dedicated financial team of experts who can answer questions regarding:

• Tax savings advice, such as when to make capital purchases, what you can deduct, and how to reduce taxes on capital gains

• Answer your questions about financial reports, cash flow, depreciation, and other accounting processes

• Identify opportunities to improve profit margin and business growth

• Help set up systems for business accounting and teach you best practices

• Keep you tax-compliant and legal, prevent missed deadlines and noncompliance penalties

Contact us here for Outsource Your Online Bookkeeping Services.

Bookkeeping Services in Townsville

02:30 as 0 Comments

If you are looking for a bookkeeping service in Townsville, then look no further. Â Our team of professionals is available to come right to your business and take care of all your accounting needs. Â We offer monthly, quarterly or yearly packages that include everything from basic bookkeeping services to more complex financial statements such as reconciliations. Â We can also help with payroll preparation and tax planning if desired. Â If you would like more information on our services or pricing please contact us at the number below!

What is Included Bookkeeping Services in Townsville?

• Billing for goods sold or services provided to clients

• Recording receipts from customers

• Verifying and recording invoices received from suppliers

• Paying suppliers

• Processing employees’ pay and the related governmental reports

• Monitoring individual accounts receivable

• Recording depreciation and other adjusting entries

• Providing financial reports

Why choose us for your bookkeeping Needs in Townsville?

Our packages for Bookkeeping Services in Townsville comprise an array of crucial services every business need including payroll management, sales tax, income statements, business bank reconciliation’s, trial balance reconciliation, balance sheets, credit card management, custom financial reports, VAT returns, audit support, and cash flow forecasting among others.

When you hire a bookkeeper then you reach your business to the next leval. Townsville Bookkeeping Services are often used by smaller businesses that may not be utilising an accounting firm regularly.

Call us now for a free consultation to discuss your specific bookkeeping needs at +61 2 8880 5556 or email us at:- info@account-consultant.com

Bookkeeping Services in Cairns

02:28 as 0 Comments

Do you need bookkeeping services in Cairns? At Account-Consultant, we are a professional and ethical company that has been providing accounting services for over 7+ years. Our clients range from small start-ups to large multinational companies, meaning you can be sure the experience of our team will be able to help your business grow as well.

We offer complete financial management solutions including: annual accounts preparation; tax compliance & advice; payroll & superannuation; cash flow forecasting & budgeting; inventory control and more! We also provide an outsourced general ledger service if you don't want to deal with finance or administration tasks at all! If you're looking for reliable bookkeeping services in Cairns, look no further than account-Consultant!

What is Included Bookkeeping Services in Cairns?

• Billing for goods sold or services provided to clients

• Recording receipts from customers

• Verifying and recording invoices received from suppliers

• Paying suppliers

• Processing employees’ pay and the related governmental reports

• Monitoring individual accounts receivable

• Recording depreciation and other adjusting entries

• Providing financial reports

Why choose us for your bookkeeping Needs in Cairns?

Our packages for Bookkeeping Services in Cairns comprise an array of crucial services every business need including payroll management, sales tax, income statements, business bank reconciliations, trial balance reconciliation, balance sheets, credit card management, custom financial reports, VAT returns, audit support, and cash flow forecasting among others.

When you hire a bookkeeper then you reach your business to the next leval. Cairns Bookkeeping Services are often used by smaller businesses that may not be utilizing an accounting firm regularly.

Call us now for a free consultation to discuss your specific bookkeeping needs at +61 2 8880 5556 or email us at:- accounts@rayvat.com

Convert from QuickBooks to Xero

01:35 as 0 Comments

If you're looking for convert your QuickBooks data into Xero, this blog post is for you. It will cover topics like: what is the difference between QuickBooks and Xero; how do I get my company file from QuickBooks into Xero; and what are some things that need to be done after converting?

The following tips should help in making the transition as painless as possible.

QuickBooks is a popular accounting software for small businesses, but it doesn't offer all the features that Xero does. If you need to convert from QuickBooks to Xero, you're in luck!

In this blog post we will go over how to do so and what your options are. There are two ways of converting: by exporting an Excel file or by using the Import Wizard function in Xero. The first option is easier because it doesn't require access to both systems at once; however, if you choose this method then be sure not to delete any important data from your QuickBooks account before exporting. For more information on either of these methods as well as which one might work best for you, read on!

There are various advantages of having your accounting books on Xero. You can access it from any point of time, and all your data stored in real time. Which means you can access all your financial results in real time, this alone would be a book for a business person.

Once you complete QuickBooks to Xero Conversion then you need to Bookkeeping services who can help you in manage all your business financial health.

If you have any questions along the way, please feel free to reach out. We're happy to help!

SAASU to XERO Migration

01:32 as 0 Comments

SAASU to XERO data migration is a big and complex task. Most people find it hard to understand the benefits that SAASU offers over XERO. This blog post will explore some of the key features, advantages, and challenges of migrating from SAASU to XERO through an in-depth analysis.

SAASU to XERO data migration is a reliable and seamless process. It has been designed from the ground up, so that it can be done by anyone with basic technical knowledge of how to use a computer. We have helped many clients migrate their data quickly and easily while keeping them in control of their own information at all times.

SAASU to XERO is a data migration service that enables you to extract, transfer and load your data from SAASU into the cloud-based accounting software XERO. With this data migration service, you can migrate all of your company information with minimal effort!

If you are looking for an efficient and cost-effective way to migrate your data from SAASU to XERO, then consider using this data migration service. It will take care of everything for you so that you don't have any headaches going forward!

We, at Accounts Consultant, believe that any data that has been uploaded digitally should be converted without having to go through the trouble of re-entering the whole thing in another software. Which is why our team uses the advanced and sophisticated software in order to help our clients migrate their books of accounts from Saasu to Xero.

Contact us here for Saasu to Xero Conversion Services.

Bookkeeping Tips For Small Business

03:42 as 0 Comments

Many small business owners are unfamiliar with the world of bookkeeping. While many may have basic knowledge of how to use a spreadsheet or computer program, they lack an understanding of the necessary adjustments and calculations that need to be made in order for their books to stay in balance.

The following blog is designed as a primer on bookkeeping services for those who have little experience with accounting. It will touch briefly on some general concepts before getting into specifics about what you should know about particular areas like payroll, taxes and invoicing.

Step 1: Choose a Bookkeeping Method

Bookkeeping is an important component of the accounting process. There are many different ways to bookkeep, but not all methods work for every business. The best way to determine what method works best for your business is by researching the various options and determining what will be most beneficial.

In this blog post we will discuss choosing a bookkeeping method and some of the benefits of each option so you can make an educated decision about which one may be right for your company. This information may also be helpful if you’re looking to switch from another bookkeeping system and want to know how it compares with other methods that you may already have experience with.

Step 2: Properly Categorize Transactions

Do you know how to properly categorize transactions for bookkeeping purposes? In order to keep track of the financial health of your business, it is important that all the transactions are categorized appropriately. Proper categorization ensures that no money is going untracked and everything is accounted for at tax time. This blog post will outline some common categories and show how they can be used in practice.

Step 3: Track Accounts Receivable

Track Accounts Receivable is a blog post that discusses how to track accounts receivable. The goal of this post is to provide guidance for tracking and managing your business's AR balance.

Contact us here, Get Bookkeeping Services for small business with Account-Consultant on affordable pricing.

Tips to Online Accounting Services help you in manage small business

20:43 as 0 Comments

We all know very well that running a small business is hard work. As your business grows, managing your finances properly becomes extremely important.

Top 5 Tips to help Accounting for your Small Business

Keep your business and personal expenses separate

While it’s possible to pay back your company for business expenditures, keeping separate bank and credit card accounts will save you hours of work and help you keep track of all your tax-deductible expenses in one place.

Do not make the mistake of doing your own taxes

Small business owners frequently save money by relying on computer software to take care of their taxes.

While this might seem cost-effective in the short term, not hiring a professional can cost the business owner down the road due to unclaimed deductions or underpayment which can lead to audits or penalties.

Expect the unexpected when it comes to expenses

When starting a business, it can be difficult to predict future expenses such as equipment repairs or software upgrades. In any business, try to leave a solid buffer for expenses in the long term.

Do not underestimate employee costs

Employees are very likely to be one of your biggest assets as well as expenses. When hiring, remember to consider the costs of payroll taxes as well as insurance and health coverage.

Don’t forget to get paid!

This may seem obvious, but you will be surprised at how many small business owners don’t properly track invoices and customer payments.

If you’re not keeping records, it could be months before you realize you have outstanding invoices. I hope you have found these tips to be helpful.

If you have any questions or feel the contact us need to get some professional advice, give us a call +61 2 8880 5556.

Best Effective Cash Flow Management for Small Business

20:40 as 0 Comments

Cash flow management for small business is vital to the success of any small business. Cash flow is the term used to describe the movement of cash in and out of the business. It is important to monitor this and make a plan to ensure there is sufficient cash to pay expenses as they fall due. Managing cash flow can be a challenge for many small businesses, especially in the start-up phase where a lot of money is being paid out and not a lot is coming in. Bookkeeping services help you in manage cash flow.

Best 8 Effective Cash Flow Management for Small Business

1. Invoice promptly
2. Collect Receivables
3. Offer clients a discount for early payment
4. Pay creditors only when they fall due
5. Set up a line of credit with your bank
6. Reduce your inventory
7. Consolidate loans
8. Have a cash reserve

Cash Flow management is the Fuel of small business that runs a small business successfully.

Read More: https://www.account-consultant.com/top-8-easy-ways-to-improve-your-cash-flow-management-for-small-business/

improve your Cash Flow Management for Small Business

20:38 as 0 Comments

Cash flow management for small business is vital to the success of any small business. Cash flow is the term used to describe the movement of cash in and out of the business. It is important to monitor this and make a plan to ensure there is sufficient cash to pay expenses as they fall due. Managing cash flow can be a challenge for many small businesses, especially in the start-up phase where a lot of money is being paid out and not a lot is coming in. Bookkeeping services help you in manage cash flow.

Best 8 Effective Cash Flow Management for Small Business

1. Invoice promptly – Once work has been performed or products sold you are owed money from your customer. It is important to send out invoices as soon as possible. Many small business operators make the mistake of being so busy doing the work that they leave little time to do the invoicing.

1. Collect Receivables – Ensure you follow up outstanding accounts. Send reminder notices if necessary but nothing beats a phone call direct to the person responsible for making the payment. If the other business is having cash flow problems they may be holding back payment in order to improve their cash position.

1. Offer clients a discount for early payment – This is a great way of receiving prompt payment from your customers. If your business has debt then it is probably paying interest of approximately 7%. By bringing in the payment early you are saving the difference between this interest and the 3% discount which is 4%.

1. Pay creditors only when they fall due – While in sales we want to receive payment as soon as possible, with your purchases we want to delay payment for as long as possible. This is free credit to your business. Take note of payment terms and don’t be afraid to renegotiate them with your suppliers.

1. Set up a line of credit with your bank – A line of credit is a credit source extended to your business from your bank. It is a source of funds that are available in an instant if they are needed. Interest is only charged on the amounts used rather than an entire lump sum loaned making it an attractive facility.

1. Reduce your inventory – You need to view your inventory as cash sitting on your shelves. The more inventory you have on the shelf the less money you have in the bank. Do you really need to hold so much stock? If deliveries are regular and suppliers are not offering discounts for bulk purchases then there is really no reason to be holding a large amount of their stock. There is a risk that inventory can become obsolete, be stolen or pass it’s used by date making it no longer saleable and costing your business money.

1. Consolidate loans – If your business has a lot of debt, which may come from a business loan, bank overdraft, line of credit and credit cards, you may be able to refinance this debt into one loan with one payment lower that the ones you currently pay. By consolidating debt it often gives people a clearer picture of their business and allows them to see a path to repaying the debt.

1. Have a cash reserve – Expect the unexpected! It doesn’t matter how carefully you plan and manage your cash flow from time to time something unexpected may come up and it is important that you have the ability to access some emergency cash if necessary.

Cash Flow management is the Fuel of small business that runs a small business successfully.

Contact us here for cash flow management for small business.