WHO IS MY BOOKS & PAYROLL

Bookkeeping is a key function of any business. We can simplify this process and give you back your time and sanity to concentrate on important elements which make your business great.

“My Books & Payroll” experienced bookkeepers, Cate, Ebony and Emma offer a comprehensive bookkeeping service or tailored account services.

Full function payroll management
Superannuation, salary sacrifice, payroll tax and end of financial year obligations, STP reporting compliance

Account management
Accounts payable, Accounts receivable, Bank reconciliations

Reporting
Financial and statistical reporting

BAS
Preparation and lodgement

To speak to Cate, Ebony or Emma please call (03) 5427 8118 or email mybooks@lmck.com.au

BENEFITS OF ONLINE ACCOUNTING SOFTWARE

There has been a lot of promotion in recent times by online accounting software solutions such as Xero, Reckon online and MYOB pushing their online products, however many people are interested to find out what the benefits are. Below are some of the benefits of switching to an online accounting solution (features can vary between the different software products on the market):

• Bank account information can be directly downloaded into your file, this means that once set up the bank account transactions will feed directly into your file and you will simply need to code the entries
• Your accountant is able to have real time access to your file, which means that they can assist you over the phone or log into the file (once you have allowed access) and assist with changes or resolving any bookkeeping issues that you may have
• The cost is generally direct debited each month for the accounting package so you do not have to deal with the more substantial initial outlay of purchasing a desktop version (and then having to update it each time a new version is released)
• You can access your file anywhere provided you have internet access, the beauty of being cloud based!
• Most online accounting packages offer a payroll function as well as invoicing functions
  
• You are also able to set rules so re-occurring transactions each month can be automatically coded saving you time and reducing your workload 

MY Books & Payroll is a partner of MYOB, Reckon and Xero.

Please contact our office to speak to one of our accountants if you would like to discuss further.  Langley McKimmie Chartered Accountants  (03) 5427 8100


We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.  

WHY AM I MAKING A PROFIT BUT HAVE NO CASH?

We assist our clients by providing direction in the management of their cash flow - a key factor in the success of a small business.

http://myob.com.au/blog/why-am-i-making-profit-but-have-no-cash/

 


Please contact our office to speak to one of our accountants if you would like to discuss further. Langley McKimmie Chartered Accountants (03) 5427 8100. 

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.

TIME TO SET SOME BUSINESS GOALS

The new financial year is an excellent opportunity to reflect on your business goals.

Are you where you think you should be? What are your business goals and how will you achieve them? 

It is important to review the financial aspects of meeting business goals, which may include profit and loss analysis, cash flow forecasting and budgeting.

The analysis of these reports can assist you with your decision making and goal setting.

Please contact Fiona Cook, Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.      

Celebrating the End of the Financial Year

Celebrating your business achievements during the past year, Langley McKimmie wish you every success for the coming financial year.

END OF FINANCIAL YEAR TAX PLANNING

With 30 June 2019 just over a week away, small businesses should be giving some consideration to year-end tax planning strategies, including:

Write off bad debts: if you have debtors, that have been previously recognised as income, that you now know are not collectible, writing them off will enable a deduction to be recognised.

Consider pre-paying some expenses: If cashflow allows, prepaying some expenses like rent, insurance and office supplies for a period of up to twelve months provides an immediate deduction.

Review inventory: a physical stocktake should be conducted to quantify and value inventory. Slow moving, damaged and obsolete stock must be written off prior to 30 June to claim a tax deduction.

Pay superannuation: SGC for employees must be paid before 30 June 2019 to receive a tax deduction for the business in the 2019 year.

$30,000 instant asset write-off: the instant asset write-off threshold has been increased to $30,000 and extended to 30 June 2020, if you are thinking of purchasing assets for your business.

Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.      

 

REMINDER - MAY ACTIVITY STATEMENTS

Don't forget to lodge your May Activity Statement (IAS) by 21 June 2019.

Please feel free to contact MY Books & Payroll on 5427 8118 or Langley McKimmie on 
5427 8100 if you would like our assistance.

“My Books & Payroll” experienced bookkeepers, Cate, Emma and Ebony offer a comprehensive bookkeeping service or tailored account services.