We work with all software providers however we specialise in Xero, As Gold Partners, we love Xero! Our team is highly skilled in Xero and the apps that integrate with the software such as Service M8, Buildxact, PayApps just to name a few.
Specialising in one software allows us to provide the best solutions and support our clients.
Due to the varying complexities of businesses and their requirements, we provide a custom bookkeeping package tailored to your business needs and overall cost of bookkeeping services. For example, a sole trader’s bookkeeping needs will differ greatly from a builder with multiple staff running multi million dollar projects.
We offer a complimentary one-hour consultation to discuss your business needs and identify ways we can help you to grow your business. Once we have a strong understanding of your business and expectations, we can discuss a package that suits.
A BAS Agent (or Business Activity Statement Agent) is authorised to prepare and lodge BAS returns on your behalf and provide advice on BAS-related items, such as your day-to-day business taxes (GST and PAYG). Any bookkeeper who wishes to provide a BAS service for a fee (for example BAS preparation/lodgement), code expenses and provide bookkeeping services where decisions are made in relation to GST, must be registered as a BAS Agent.
This has been in place since 1st March 2010 and is a fantastic system because it provides protection to businesses and individuals who don’t have a strong understanding of BAS processes and are seeking the services of a bookkeeper. A BAS Agent must renew their registration annually which includes satisfying certain criteria, such as being a ‘Fit and Proper Person’, being up to date with personal tax returns, completing the necessary number of hours of recognised training, and having the appropriate Professional Insurance Policy in place.
As a registered BAS Agent, we are more than happy to provide our registration numbers for verification to our clients, potential clients or our client’s accountant.
All our team work from our office located in Briar Hill Victoria.
Being a small business owner can be an incredibly awarding experience. However, running your business can be stressful enough without trying to understand and maintain your books! It is generally an area that small business owners don’t like, but must be responsible for.
One of our key roles as bookkeepers is to take the stress and pressure away from small business bookkeeping, allowing individuals to spend more time on what they are passionate about: their business!
We also help in understanding the projects you are working on, your margins and charge out rates. Looking at your direct costs and operating expenses within the business.
But having a bookkeeper is about more than just saving time. A good bookkeeper is like having a built-in business coach, someone you can build a relationship with. They will take care of all the “boring” stuff while educating you on the picture behind your numbers so you can make better informed business decisions. Bookkeepers can help you to understand the ongoing costs of running your business, what your cash flow situation looks like and if you are really making a profit.
Absolutely! Today’s cloud accounting capabilities were designed to make life easy. Your bookkeeper can manage your books remotely, but you can also access your own real-time data, financial information and reports. You will always have access to the information you need to make business decisions on the go from anywhere, anytime, on any device. This is so valuable for all you busy entrepreneurs!
One of our personal favourite bookkeeping software apps is Hubdoc which allows small business owners to capture a receipt by taking a photo with the app (or forward items to your Hubdoc email address). The app will extract key information from the submitted document and can be published to your cloud accounting software for the bookkeeper to sort.
What does this mean? Basically, no more shoeboxes full of receipts! Say goodbye to pesky piles of paperwork you don’t understand and embrace a paperless business. We’re experts in multiple accounting software platforms and apps. We can help you choose, setup and train on the most suitable for your business.
Create time for your business
Focus on what you are good and we will take care of the numbers
Keep you compliant
As a small business owner, you’ve got enough to worry about without having to stay up to date with all the legislative compliance changes. We are up to date with the latest legislation and requirements.
Teach you about your business numbers
Empower and educating our clients to understand their business and the numbers, make informed and educated business decisions.
Get time back with your family
What do bookkeepers do on a day-to-day basis? The answer is most likely “more than you might think!” The Vital Accountss handle all aspects of bookkeeping and more, including:
Setting up or streamlining current systems
Recommending and setting up bookkeeping software
Data entry (NOTE: it is impossible to complete data entry without also being involved in determining tax codes and therefore the allocation of GST which requires tax invoice documentation)
Expense Tracking
Invoicing & Receipt Management
Transactional Checks & Bank Reconciliations
Accounts Payable & Receivable
Online Banking
Calculating GST
Cashflow Management
Budgeting
Compliance & Reporting
Payroll, Awards and Superannuation changes
BAS Agent Services (IAS, BAS Preparation & Lodgement)
Taxable Supplier Payments (TPAR)
EOFY Processing
Management Reports
General Business Administrative Support
Business Planning
Profit & Loss Reporting
Keeping educated on the industry, compliance, best practice bookkeeping and any changes that may affect clients
Keeping up to date with legislative requirements (so you don’t have to!)
Bookkeepers can also provide clients with insights on business opportunities and potential financial issues that they may not have been able to see. Most often the bookkeeper will be happy to sit down with clients and explain their numbers (without the financial jargon) while delivering accurate and timely bookkeeping services.
For us at Vital Accounts it’s about so much more than bookkeeping and we always strive to go above and beyond for our clients.
Bookkeeping is “the process of recording, analysing and interpreting the financial transactions of a business or individual.” Vital Accounts aims to go further than this to partner with and educate our clients on their business, systems, operations and results.
A good bookkeeper can be a huge asset to your business as they have the knowledge, experience and passion to manage your records accurately. Most importantly, they provide you with an important insight into your business’ operations and profitability.
Bookkeeping and accounting are often assumed to be the same profession. This is not the case!
Both are extremely important for every business, especially when used together. While bookkeeping is responsible for the recording of financial transactions, accounting is responsible for interpreting and analysing the financial data.
A bookkeeper will be the person who assists you with the ongoing financial recording, transactions, compliance and lodgements that keep your business running smoothly. Your accountant will be the person who analyses the data produced by your bookkeeper to minimise your taxation and make recommendations. Accountants have a strong understanding of tax law & requirements and will be best to assist in this area.
Instead of perceiving a “bookkeeper vs accountant” situation, it is important to understand that your accountant and bookkeeper work best together to serve the financial requirements of your business. At Vital Accounts, we focus on working closely with our clients chosen accountant.
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