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
