Frequently Asked Questions
Below we’ve answered some FAQs on bookkeeping services for small businesses. Contact us if we can help further .
Are you qualified Accountants ?
Yes – we are registered tax agents offering the highest level of service. Our team comprises of Chartered Accountants . A Chartered Accountant can provide you guidance, advice and peace of mind that you’ll be taken care of with the highest level of attention and care.
What are your service rates?
We have hourly fees and fixed package rates. Since we tailor our services to suit your needs, we need to have a chat with you to discuss which business solutions will best suit you.
A number of factors go into how we work out our service rates: The size of your organization, the type of business you’re in, whether you’re behind in your bank reconciliation, cash flow management and BAS etc.
Why switch from my current accountant?
Our team is highly qualified, and well versed in what is required when lodging a tax return using an online service. We each have more than 20 years of experience in taxation, accounting, and business planning and management.
We guarantee a qualified tax agent checks every singlet thing you need.
What’s the difference between a bookkeeper and an accountant?
Accountants are big picture specialists. They are qualified to give advice on tax management, and to plan a financial infrastructure for a business.
Bookkeepers are fine detail specialists. Bookkeepers record financial transactions into categories, produce reports for accountants and the tax office and help manage business cash flow. Provided they are registered BAS Agents, they are qualified to administer systems that fulfill a business’s BAS obligations.
Do i need to clean my books before i hand over ?
Not at all. We can assure you that you are not alone and we see this all the time. We know how busy life can get sometimes and often compliance is not your number one priority but we can absolutely get you up to date and keep you up to date. We find its easier, quicker and more efficient for us to start with the source data and enter it rather than trying to interpret and fix incomplete and missing entries.
Do not worry whatever state your accounts are currently in we can guarantee we have seen and fixed a lot worse.
I am behind my BAS and TAX ; how do i get up to date ?
You are probably aware that it is compulsory to lodge a business activity statement at least quarterly. But maybe you have been a bit confused and you have some overdue. You might have been too busy, the forms might have looked too complicated or there may have been legitimate reasons (like health or relationship issues) that stopped you from lodging. Do not worry, it is very common, and (with the right help) the problem is easily fixed. Whatever the reason you fell behind, you need to get up to date. And once you do, you’ll get a better night’s sleep as well.
The easiest way is to drop in for an obligation free coffee and we will run through your situation or give us a call if you don’t live locally. We deal with situations like this day in day out and can guarantee we have seen and fixed a lot worse. We will even liase with the Australian Taxation Office and will go into bat for you to see if we can get penalties and interest waived on your behalf (no guarantees but our track record is pretty good).
Stop stressing about it and let us handle it.
Why do I need Bookkeeping?
Well there are several answers to this question, but let us give you a few:
- Probably the most important reason, if you run a business in Australia, it is a legal requirement. By law, the Australian Taxation Office (ATO) requires you to keep certain business records and penalties may apply if you do not comply.
- If you maintain good bookkeeping records, it will be easier and faster to complete your business activity statements (BAS or IAS) and other tax obligations when they are due.
- Good bookkeeping records provide information to allow you to monitor the performance of your business and make informed decisions.
- It makes it easier to maintain your creditors and debtors when your bookkeeping records are up to date this ensures you aren’t paying a supplier twice or that your customers are paying on time. This all helps with the health of your business.
- It can actually SAVE YOU MONEY, by having bookkeeping systems in place, you can find your financial information much quicker and this will save you time and ultimately, money.
What is a bookkeeper's role ?
Business owners use information processed by bookkeepers to evaluate the performance of their business. Therefore, it is a bookkeepers primary responsibility to ensure 100% of a business’ transactions have been picked up and recorded accurately. Now-a-days, being a bookkeeper is more than just processing transactions. Having sound knowledge of accounting and tax concepts is critical in enhancing a bookkeepers’ output. It is essential for all businesses to engage a bookkeeper with professional training and qualifications in the area of accounting to ensure there is reliable data to gauge a business’ performance. The Carbon Bookkeeping team is run and managed by a team of qualified accountants (CPA and CA), ensuring your business data is relevant and reliable.