Bookkeeping

Bookkeeping includes recording & keeping the financial records of a business including sales, purchases, receipts & payments.

TM Business Essentials believes bookkeeping needs to be efficient and effective which includes:

  • compliant & accurate data entry into a cash book
  • reconciliation of cash book with statements

This process provides information that can be used for various purposes, BAS reporting, Tax Preparation & management reporting (eg: Profit & Loss, Balance Sheet)

Bookkeeping Services includes:

Data entry

  • record / process expenses
  • record / process sales
  • process payments received or made
  • process Insurance & loan payments 
  • asset identification & recording

Debtors (Accounts Receivable)

  • create: quotes, orders, invoices, statements
  • prepare refunds / adjustments
  • customer liaison
  • process customer payments
  • report overdue invoices
  • reconcile receivables

Creditors (Accounts Payable)

  • data entry: supplier invoices / receipts, supplier statement reconciliation
  • supplier liaison
  • process payments / remittance advice
  • track credits
  • reconcile payables

Reconciliations

  • bank
  • credit cards
  • loan statements (including intercompany & directors loans)
  • other, eg: barter card, tax office liabilities