Bookkeeping and Accounting

There’s a big difference between bookkeeping and accounting. Bookkeeping is cash basis reporting – money in and money out. This method doesn’t show you the true economic picture of your business. 

Accounting uses “accruals” to record the income earned, regardless of when you invoice the client, and “matches” the expenses in the period they were incurred, regardless of when you pay the bill. 

Access the Financial Intelligence You Need to Grow Your Business. 

We will make sure you get the advanced reports you need based upon your industry and business, and provide a KPI Dashboard that gives you actionable insight into your financial world. Your team is dedicated to your business and the Accounting Manager provides weekly and monthly financial insight based upon your scope and needs. You will always have access to the financial intelligence you need to grow your business. 

What you get

Cloud based bookkeeping services allow you to begin where you need us to help, and add on when or if the time arises. You can customize our services by choosing which tasks you want to perform internally and which tasks you want to outsource to TBS
  • Accounts Payable
  • Accounts Receivable
  • Payroll
  • Banking and Credit Card Reconciliation
  • GST Tax and Payroll Tax Reconciliation
  • Review of Bank Reconciliations
  • Monthly-End Close Preparation

Financial Intelligence

- Custom reporting packages deliver financial foundation for success
- Anytime, anywhere access to real-time financial intelligence from dashboard

Benefits

- Removal of burden
- No more hiring, training, retraining, office space, vacation or sick days
-Total finance systems design & accounting software integrations & automations in the cloud
- Frees up more time & resources towards building the business

Peace of Mind

-Dedicated team & technology expertise
- Clean, accurate & timely set of books
-Audit-ready, year round!
- Reduce fraud with internal controls
- Expertise-as-you-need without adding staff

When do you need a bookkeeper?

Getting your financial processes set up as soon as you start your business is one of the best things you can do as a business owner. Due to this, we should be one of the first people you hire.

In the start-up phase of your business, you may only need us for a few hours a week.

Beyond an initial consultation with us to set up the legal and tax structures of your business, we will look after the day-to-day running of your business.

  • Manage accounting systems
  • Process invoices, receipts, payments and other financial transactions
  • Managing payroll
  • Preparing financial statements
  • Reconciling accounts and preparing reconciliation reports
  • Managing any loans or debt repayments
  • Calculating GST
  • Preparing and lodging your BAS
  • Preparing forecasting for your business

How we would work together.

1. Work out the terms of your arrangement.
We will discuss the tasks you need done and ask for an estimate of how much that will cost you.
2. Find out how you prefer to communicate with us.
Good communication is crucial for any professional relationship to work.
Whether you prefer to communicate via email, text message or phone call is something you should discuss with your us.
3. Have semi-regular catch ups.
Having face-to-face meetings, either in real life or via video call, will go a long way towards making sure we're both on the same page.

3 Things To Takeaway.

#1

Bookkeepers are involved in the day-to-day financial running of a business. They typically record revenue and expenses, prepare wages and maintain accounting systems.


#2


Consider hiring a bookkeeper as soon as you start your business to get your financial records right from the start.


#3

One way to remember the difference between bookkeepers and accountants is that bookkeepers record business data and accountants analyse the data. We do both.