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Every business, large and small, must keep records for
internal management and for tax, banking and payroll purposes. This means
that every business must perform certain basic financial functions such
as tracking income and expenses, make payments, record sales and other
income, etc. Active Accounting and Bookkeeping Consulting can tailor our
services to meet your needs with an effective and affordable service.
- All Bookkeeping Functions:
- General Ledger is divided into logical functions which
parallel the daily activities of running a business and managing
business finances
- Financial Record keeping in a manner consistent for easy
completion by your Accountants of your Annual Statutory Returns
(Tax Return, Annual accounts, etc)
- Post all financial entries
- Logical organisation of the chart of accounts
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- Financial Reporting:
- Provide a snap shot in time of the business' financial position
- Periodic Profit and Loss report
- Balance Sheet
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- Reconciliations:
- Matching and comparing figures from one source (statement)
to information held in the financial records of the business
in order to reveal any potential discrepancies
- Bank
- Creditors
- Debtors
- Stock
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- Cash Flow Reporting and Forecasting:
- A company can fail because of a shortage of cash, even
while profitable. The cash being received and spent by a business
during a defined period of time, can be used to evaluate the
state or performance of a business and to determine problems
with liquidit
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- Entity Set-up in MYOB:
- Company, partnership, trust, sole traders, et
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- Customer Billing and Receivables Control:
- Accounts receivable reports to provide a clear analysis
of what money is owed by customers to the business
- Prepare and post invoices
- Records payments received
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- Supplier Purchases Recording and Creditors Payment:
- Creditors reports to track the amounts owed and the amounts
paid to vendors. Reporting helps take advantage of early-payment
discounts, avoid late-payment penalties, and effectively manage
their available cash
- Records supplier bills
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