Support services include those activities that you would normally expect from your accounting department. Concept Accounts Plus is managed by experienced qualified accountants who are BAS registered agents, have managed small to medium businesses and have a passion for ensuring the best information is produced in an efficient manner.
Posting of your supplier invoices (what you owe to others). This is also known as accounts payable. How a business manages its accounts payable or "creditors" processing affects two important business matters; cash flow and supplier relationships.
Concept Accounts Plus best practice approach to managing accounts payable involves:
(What your clients owe to you)
It is important to keep track of accounts receivable (sometimes called debtors) because they are the clearest indicator of the income of a business.
If you do not keep track of accounts receivable, you may forget to bill certain customers or will not know if you've been paid. Accounts receivable gives you a clear idea of how much money your company is actually making (when compared to accounts payable).
Concept Accounts Plus will ensure that your customer invoices and therefore your income is accurately entered into your financial accounting system.
Concept Accounts Plus best practice methodology of debtor management incorporates a customer-focused approach into each of the three basic accounts receivable processes. These include:
Efficient management of your accounts receivable or debtors function, will mean that there is more cash flow available for the business to allocate to paying its bills. The more cash you have in the bank, the less you rely on bank loans to fund the growth of your business.
There is nothing worse than when your accounts do not reconcile, you don’t know whether you are owed money, whether your tax obligations are correct and up to date, you thought the value of your fixed assets were higher than what the accounts are representing.
Just imagine if someone was interested in buying your business, and through their due diligence they found your accounts were not what you purported them to be!
Concept Accounts Plus will ensure that your accounts are reconciled and correctly reflect your assets and liabilities.
Whether you are a start-up or have been in business for a while, your chart of accounts is important aspect of your source of information.
Cash is the most vulnerable asset of any business. Bank reconciliations provide the necessary control mechanism to help protect your cash through uncovering irregularities such as unauthorized bank transactions.
Outsourcing your payroll function is a logical step to ensuring that you maintain your focus on running your business. Concept Accounts Plus offers a full suite of payroll services ensuring that you are fully compliant with your obligations as an employer.
One of the many benefits that payroll outsourcing provides is that the process and functionality knowledge that payroll processing requires does not sit with a member of your staff, who may leave with that knowledge. Outsourcing provides continuity and assurance.
Accurate purchase ordering and timing and reflective of your cash flow capabilities.
Concept Accounts Plus is a registered provider of BAS and IAS services for your business. In most circumstances, lodgement through a BAS registered agent allows for an extra four weeks for BAS submission.
Including balance sheets, profit and loss, cash flows and statements, accounts payables and accounts receivable reports and other key finance reports including dashboard reporting.
Yes there is a difference. You may be regularly posting profits yet your bank account does not reflect the same. The timing of paying your expenses, collecting your sales can all play huge part in the impact upon your profits and cash. Regular reporting and tools for managing cash are a must for all business, small medium or large. There are some basic rules for small to medium businesses when it comes to managing cash:
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Standard range of bookkeeping
services including accounts payable,
payroll, and more...
Advanced services including strategic
planning, business performance
benchmarking and more...
Phone: 0402 283 185 or 0419 375 822
Postal Address: PO Box 8120, Burwood Heights LPO, EAST BURWOOD, VIC 3151, Australia
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