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BAS - Business Activity Statement
Bookkeeping
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A solid financial history and well-maintained records can attract potential investors, partners, or buyers, opening doors to new opportunities and growth. With a bookkeeper, businesses can thrive and reach their full potential. Let us help you take control of your finances and achieve success.
- Cost: Hiring a bookkeeper is generally less expensive than hiring an accountant. By having a bookkeeper handle the day-to-day financial tasks, the accountant’s time can be focused on higher-level analysis and strategic planning, reducing overall costs.
- Collaboration: A bookkeeper can work directly with an accountant, providing them with accurate and organized financial records. This can save time and reduce the risk of errors, as the accountant will have all the information they need to do their job effectively.
- Level of analysis: Bookkeepers focus on the day-to-day financial operations of a business, while accountants provide a higher level of analysis, looking at the overall financial health of the business and providing insights and recommendations.
In summary, a bookkeeper can bring significant value to a small business by managing the day-to-day financial tasks, reducing the workload and costs of an accountant, and collaborating with them to provide accurate and organised financial records.
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A mission to Pace
“Setting the pace for success by leading by example, inspiring others to perform at their best, and fostering a culture of excellence.”
We envision a world where SME’s have access to high-quality Finance and Technology support, enabling them to compete and win.
Our goal is to empower businesses to achieve their full potential through the use of cutting edge technology and dynamic finance support, ensuring they have systems that work for them.
Microsoft Partner
We purposely partner with Microsoft to build dynamic game changing tools that work with a business not against them.
Microsoft is the biggest name in technology and is the leading Cloud Service Provider. There tools lead the way in agile systems and AI. A perfect complement for all businesses.
Finance
You need the best support, your business is too important for anything less. You need confidence, clarity and compliance.
As regulations and the demands on business increase & get more complex, it is imperative you have support from professionals. A team that embraces technology, faces challenges head on and sees you as family.
Technology
As the world keeps changing so does the technology available to SME’s. We are committed to bringing unique capabilities to businesses that ensures they can compete and win.
We purposely partner with Microsoft to build dynamic game changing tools that work with a business not against it.
Passion is our default
We are your Pacer
Simplicity from complexity
Microsoft & Xero at our core
Small businesses often face challenges when doing their own bookkeeping. Some common issues and mistakes we see are below.
- Not keeping accurate records: No system in place to track income and expenses accurately, leading to errors and discrepancies in financial records.
- Mixing personal and business finances: Business owners may use their personal accounts for business transactions, making it difficult to separate personal and business expenses.
- Not reconciling bank statements: Failing to reconcile bank statements regularly can result in missed transactions, incorrect balances, and other errors.
- Not tracking inventory: Small businesses may not track inventory accurately, leading to discrepancies in their financial records and difficulties in managing stock levels.
- Not understanding tax obligations: Not being aware of their tax obligations, leading to missed deadlines, penalties, and other issues. In the worst case, an ATO audit!
- Not seeking professional help: Business owners may try to handle bookkeeping on their own, without seeking the help of a professional bookkeeper or accountant. This can result in errors, missed opportunities, and other issues.
Having a bookkeeper can help you avoid these common mistakes and ensure that your financial records are accurate and up-to-date. A bookkeeper can provide valuable expertise and guidance, allowing you to focus on growing their business.
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