At McSwan and Wood we offer bookkeeping services. Bookkeeping is usually the biggest day to day headache for business owners, and the one that gets the least amount of attention.
We offer our service at an affordable price and make the process as easy as possible.
McSwan and Wood are Brisbane based tax and bas agents, who want to make it easier for owners to run their business. We have broken down below, how we do it and the difference this makes to your business.
We are Xero Bookkeepers. Although we use all types of software (Myob and Quickbooks) Xero is our preferred software. We are currently silver partners with Xero so can pass on a small subscription discount to our clients.
Once our clients setup bank feeds, we have an email set up for them to send all of their invoices and receipts they receive on a daily basis. For most clients it’s as simple as forwarding the expenses that hit their inbox on a day-to-day basis and that’s it, we are able to do the rest. Our supportive team will then email any queries they have, to ensure that the books are completed to a high standard on a weekly basis.
We also do many client’s payroll and can send the ABA files directly to them on paydays, making it extremely efficient for our clients to pay their employees. Although many clients can rely on Xero for Payroll we can also provide advice on allowances and which allowances are exempt from superannuation or PAYG withholding tax. Getting payroll correct can save you thousands in the long run.
Up to date books so you can see in real time what is happening with your business! Many clients who do the books themselves usually dedicate one day just before the BAS due date to do their bookkeeping. By seeing your books on a week-to-week basis, you will be able to review how your business is doing at any time, with accuracy.
Additionally, there is the added benefit for when you are trying to get a loan. Most banks and lenders these days will ask for management reports. By keeping your bookkeeping up to date weekly, your management reports will be more up to date for the lenders and will assist in your loan application.
To keep you up to date with the books we also send our clients, monthly profit and losses, and balance sheets so they can get be reminded in real time where their profit and cash balances are sitting. You can’t run an empire all in your head! By breaking down the position each month it will provide you with the data required to make better informed decisions.
Lastly, and this brings us to the biggest sin of the bookkeeping industry, BAS, IAS’s, superannuation and Payroll Tax Returns.
Across the industry, these are always prepared too late for clients. Clients shouldn’t receive a BAS then have to pay it the next day. Accountants talk about cashflow, but we deliver on our client’s cashflows. By giving them time to pay their BAS, super or ATO obligation, we can deliver clients precious time that they almost always lack.