Bookkeeping
Bookkeeping is an important part of the daily operation of your business and is a key component of your ATO compliance and management reporting.
An efficient bookkeeping system is an asset to your business. Such a system will allow you to be armed with the latest information about the company’s true financial position; such as how much money you currently have outstanding, how much you owe, the value of your assets and your overall profit margin.
This important information is required when making key long term business decisions such as investing, expansion, company acquisitions, downsizing or streamlining your operations for maximum efficiency.
Close Financial Group are specialist business bookkeepers who can provide your business with efficient, cost effective and time saving systems that will simplify your month end procedures and provide your management personnel with highly detailed and accurate information about the company’s finances.
An efficient bookkeeping system will provide you with current data on functions such as:
- Reporting
- GST and PAYG tax reporting
- Daily, weekly, monthly, quarterly and annual reporting
- Financial year-end reporting
- Balance sheet
- Trial balance
- Profit and loss
Accounts Receivable
- Invoicing
- Statements
- Outstanding payments
- Debt collection
Accounts Payable
- Payment of accounts
- Schedule payments
- Petty cash
General Ledger
- Profit and loss statement
- Balance sheets
- Income statements
- Budgeting
- Bank and credit card reconciliation (weekly, monthly, quarterly)
Sales Analysis
- Analyse market trends (local, state, national and global)
- Improve sales forecasting
- Calculate commissions and bonuses
- Highly detailed reporting
- Identify missing invoice numbers (accidental or fraud)
- Identify top performing branches and sales people
- Identify and track the most profitable product lines
- Setting and reviewing budgets
- Maintain and protect profit margin (highlight non profitable pricing overrides)
- Report on taxes paid and collected
Inventory Control
- Sales and stock tracking
- Inventory reporting
- Set correct stock and reorder levels
- Discontinue slow moving stock items
- Generate lost sales reports
- Inventory sales analysis
- Protect against theft and fraud
Job Costing
- Track true costing
- Job profitability reports
- Enables more accurate job quoting
Contact one of our friendly staff now on 02 4353 0569 to find out how our professional business bookkeeping services can benefit your business.