Bookkeeping - Xero Tax Accountant

Is there a better way to meet your bookkeeping obligations? There sure is! Eliminate costly bookkeeping errors, reduce the time and costs to maintain your books and gain valuable insights. We are the bookkeeping experts you need!

Two approaches to manage your books.

Outsourced accounts team
Bookkeeping support

Outsourced Accounts Team

OnVenture takes full responsibility of your bookkeeping systems and processes and ensure you have what you need, on time, to manage your business and make well informed business decisions. Key features include:

Delivered either onsite, entirely remotely or a mixture depending on the business’s needs.
Low cost fixed fees. Remotely delivered plans can often be delivered at similar or reduced costs to traditional onsite bookkeeping, even compared to cheap in-house employees.
Always covered. As we have a team approach you will always have reliable, capable people attending to your every bookkeeping need, no need to manage leave or extended periods of time off as is the case with in-house employed resources.
Continuous improvement. As our objectives are aligned our focus will be on continuing to find more efficient ways to get your work completed and delivering greater value to your business and your stakeholders.
Expert support. Services may include, invoicing, debt collection, bill entry, supplier balance reconciliations, bill payments, bank reconciliation, cash flow management, payroll, management reporting, BAS and other customised services.

Bookkeeping Support

When its not commercially feasible to outsource your accounts, you will need help to overcome the following issues that occur with hiring in-house accounts/bookkeepers:

Competency. Selected without any competency testing to ensure they can do the work you intend for them to complete. Poor bookkeeping can lead to costly errors
Dual roles a terrible idea. Often hired to fulfil two roles e.g. receptionist and accounts/bookkeeper and with lower end pay rates means your less likely to attract professional bookkeepers who have the expert knowledge and skills to complete the work accurately and efficiently.
Absences. You will need to handle the work personally when they are ill, on leave or need to leave the job with little notice.
Up to date information. Rely on you to keep them up to date on new accounting standards and legislation which effects your business. Are you capable of providing this information?
Paying too much tax! Can make a meal of your GST coding and ATO reporting resulting in you paying more GST than is necessary. What’s worse is this isn’t always picked up by your Tax Accountant at year end.
Errors & business failure. Their handling of transactions could be so significantly wrong that it can lead you to believe you are more profitable or less profitable than you actually are resulting in delayed decisions and in the extreme can cause business failure.
Unaligned interests. Their interests aren’t aligned with yours. It’s in their best interest to maintain inefficient systems and processes that give them the most hours to bulk out their pay. Especially if you are paying them peanuts.

OnVenture can assist you to setup and maintain your in-house accounts people/team by:

Competency testing. Pre/post interview competency testing delivered by video conferencing which provides you assurance they are not going to make a mess of your accounts.
Systems advice, setup and training. Use the right systems for your business needs, leverage technology to reduce administration time and costs and gain greater insights into your business’s performance.
Process advice and design. Implement best practices to ensure accurate and timely recording of your transactional information and meet your deliverables.
Bookkeeping training and supervision. Expert advice on systems, accounting and tax when needed including developing and monitoring procedures, checklists and outputs.
BAS services. Period review for GST and ATO reporting purposes ensure you maximise your input tax credits and not overpay tax.
Periodic reporting. Review for accuracy, reporting and analysis of standard or customised management reporting to ultimately ensure your accounting information is reliable and comparable for better decision making.
CFO services. We take responsibility of your accounting outcomes by consulting with and developing the abilities of your in-house accounts team members.

For more information on our plans