Frequently Asked Questions
We service clients around Australia and overseas. The documentation we require can be posted or emailed in full documentation or USB stick. This means you can do it when you are ready.
No, this isn’t a problem as we specialise in the shoebox. We go through all your documentation, put it in order and prepare the necessary reports for your business or investment property.
We provide a checklist so you don’t have to guess what is required. This also means that we get the documentation required at the start and don’t have to spend time chasing you for further documentation.
This depends on the business and tax compliance requirements or the number of investment properties that you have. Many small businesses must complete their BAS Return on a quarterly basis and the accounts are done each quarter. Other businesses with more transactions prefer monthly. For one to two investment properties the accounts can be done on a yearly basis. If you have more than three investment properties then perhaps monthly, quarterly or six monthly may be more preferable.
In normal circumstances, the turnaround time in off peak times is 10 days. This may increase marginally at busier times such as end of financial year. This is also subject to all the documentation being provided. For more complex situations, such as several investment properties and businesses not done for some time, this may take longer.
Many property software programs are tailored to a property investor who self-manage their investment property and require a lot of input. Unless you have a clear understanding of property bookkeeping then you may be claiming incorrect or missing out on claiming some expenses. Our custom designed reports show a Pre-Tax and Post-Tax Cashflow and include the ATO’s Rental Property Schedule which provide comprehensive cashflow reporting and tax requirements.
We are not a registered tax agent so we cannot complete tax returns. In many cases, people receive their tax return back to sign, but don’t know if it is correct. We can forward the documentation to a registered tax agent who understands how we work and can complete an individual or business tax return. The tax return comes back to us to check to make sure that it is correct before signing. For residential property investors, the Annual Financial Report sets out the figures making it easy to check the tax return.
Depending on the small business or property investor, services are charged by the hour or set fee depending on the client. We can discuss this when you contact us.
- You don’t have to spend time doing the books when we can. We will provide reports to show the profitability of your business or investment property.
- We follow up to ensure that you meet your GST obligations.
- We can show you an easier way to do the business bookkeeping than completing spreadsheets by implementing accounting software to suit your needs.
- We use Xero, QuickBooks Online and MYOB.
How do I get started?
Contact us on 0417 610 492.