In the realm of comprehensive Business Services in Somerville, our dedicated Bookkeeping Services play a pivotal role. Taxation regulations necessitate that all taxpayers, be they businesses, investors, or individuals, maintain their financial records in a format that is readily auditable by the Tax Office.

Effective record-keeping stands as your first line of defense against the potential ordeal of a Tax Audit. Whether it pertains to income tax, CGT, or GST, the meticulous maintenance of financial records is your safeguard. We not only endorse this practice but also offer our clients our expertise in maintaining proper transaction records. We recommend the utilization of an online accounting software of your choice, seamlessly integrated with your bank account.

XERO, in particular, stands out as a user-friendly and robust solution that empowers you to efficiently manage your business operations. Simultaneously, it enables us to oversee your tax reporting and compliance requirements. When your bookkeeping records are maintained and reconciled meticulously, and when they align seamlessly with your banking records and lodgements, you significantly reduce the potential hassles of a tax audit. This translates to a clearer audit outcome and a lower likelihood of frequent repeat audits.

At our core, we are here to support your financial well-being and ensure your business's security in the face of tax audits. Trust our experienced team to guide you through the process, with XERO as your trusted ally in this journey.

Bookkeeping records is one part of business meeting its reporting obligations. Any employer that has employees will also become engaged in registering, managing and reporting PAYG withholding, utilising Single Touch Pay, Superannuation obligations, State based Workcover & Payroll Tax, Employment agreements and Awards. In the construction industry you will be exposed to CoInvest, Incolink, and if working on larger union sites a number of other allowances and penalty rates.

Our Business Services Somerville staff assist our clients with these additional obligations. We take the time and effort to understands all areas our clients are exposed to and to work with you to identify and manage all these obligations facing any business.