Often clients are devastated when they discover how much tax they have to pay because they didn’t plan for the FYE (financial year end). Leaving it until after 30 June is too late.

We are not tax agents or accounts, but our team of mobile Gold Coast bookkeepers can certainly help you get your paperwork upto date so that you can at least have three quarters of the 2009/2010 financial year upto date and ready to visit your accountant before the end of June 2010

The ATO website advised that:

“Lodgment and/or payment will be due on the next business day for all taxpayers regardless of where the taxpayer is located.

If the due date falls on a public holiday which is a public holiday for the whole of a state or territory, taxpayers in all states and territories may lodge and/or pay on the first business day regardless of whether they celebrate that public holiday.”

Since 28 February 2010 is a Sunday, and there’s a public holiday in Western Australia on 1st March, the first business day is Tuesday 2 March 2010

Have a look for yourself on the Australian Taxation Office website, that explains: “Due date for lodgment or payment falling on a weekend or a public holiday”

http://www.ato.gov.au/taxprofessionals/content.asp?doc=/content/12510.htm&page=2&H2

*The facts as reported separately by Ross Greenwood and Alan Jones just this week! *

Australians will be repaying $15.4 billion in interest and principal every year …. $733 for
every man woman and child – every year.

*Greenwood the money man did the maths for us and said: “Right now the Federal Government is at pains to tell everyone -including us the mug-punters to the International Monetary Fund that it will not exceed its
own, self-imposed, borrowing limits.

How much? $200 billion. And here’s a worry. If you work in a bank’s money market operation; or if you are a politician; the millions turn into billions and it rolls off
the tip of the tongue a bit too easily.

But every dollar that is borrowed, some time, has to be repaid. By you, by me and by the rest of the country.

Just after 5 o’clock tonight I did a bit of maths.
It’s so staggering its worth repeating. First though … here’s what Chairman Rudd has been saying about – what he calls – these temporary borrowings. Remember those words … temporary deficit… but the total
Government debt could end up around $200 billion.

So here’s a very basic calculation … I used a home loan calculator to work it out … it’s that simple.

$200 billion is $200,000 million (200,000,000,000). Two hundred thousand million Dollars!

The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years.

Now here’s where it gets scary …. really scary.

The repayments on $200 billion come to more than one and a quarter billion dollars – every month – for 20 years. It works out we – as taxpayers – will be repaying $15.4 billion in interest and principal every year …. $733 for
every man woman and child – every year.

The total interest bill over the 20 years is – get this – $108 billion.

And remember, this is a Government that just 18 months ago had NO debt… NO debt NONE!

In fact it had enough money to create the Future Fund to pay the future liabilities of public servants’ superannuation … and it had enough to stick $20 billion into the Building Australia Fund last year ….

Now get back to having’ a good weekend, secure in the knowledge that we’re in good hands and it will soon blow over!

Like hell it will!

What do we do?

Well, the Islands look pretty good this time of year!

Oh and you might as well sell the cart while we’re away, for whatever you can get, ’cause the horse has bolted.

*Jones said,
“a note that was sent to me which explains to me that the six leading members of the Government from Mr Rudd down, the top six have a collective work experience of 181 years. But only 13 in the private sector. If you take out of those 13 years the number that were spent as
trade union lawyers that total 11, of the 181 years only two years were spent in the private sector.

So the people, who will rack up a net Federal debt minimum of 188 billion, the highest in our history, have virtually no experience in business.

So out of 181 years:

- no years spent running their own business
- no years spent starting their own business
- no years spent as a director of a family business or a company
- no years as a director of a public company
- no years in a senior position in a public company
- no years in a senior position in a private company
- no years working in corporate finance
- no years in corporate or business restructuring
- no years working in or with a bank
- no years of experience in the capital markets
- no years in a stockbroking firm
- no years in negotiating debt facilities with banks
- no years running a small business
- no years at the World Bank or IMF or OECD
- no years in Treasury or Finance.

But these people have plunged Australia into unprecedented debt.

Well, in a way you can’t blame them. It’s clear that the electorate did not do their homework, because the Government is there by right. They were given
a thumping majority to lead the country.

It’s just that no one seemed to ask, most of all the press gallery in Canberra, in what direction??

Our Gold Coast mobile bookkeeping team have been busy helping small business owners getting their bookwork in order to lodge the Business Activity Statements

Whether you are in Coomera, Helensvale, Southport, Nerang, Broadbeach we can help you with outsourcing your bookkeeping.

Our freelance mobile bookkeeppers can come to your premises where ever you are located along the Gold Coast strip. You may be a small business owner in Coolangatta, Tugin, Palm Beach or Currumibin. You may use Quickbooks or MYOB – you might just need us to look over your data files

Whatever aspect of bookkeeping you need , we can help you – contact us today

You can save much stress and heartache by outsourced bookkeeping

No matter what accounting software system you use (commonly Quickbooks or MYOB) the preparation of a BAS form can be challenging. MYOB or Quickbooks will only give the answers based on the information that’s entered into your software package.

ATO states that 80% BAS forms lodged incorrectly

If the data is incorrectly entered, or the allocations and codes are not correct, then the information that MYOB or Quickbooks spits out for your Business Activity Statement BAS will not be correct.

That actual process of filling in the form is not that difficult once you know how. Unfortunately most small business owners or their in-house bookkeepers do not complete a BAS form correctly. According to the Australian Taxation Office ATO 80% of Business Activity Statements are incorrectly completed.

ATO say only 8% BAS forms lodged by Contract Bookkeepers

That means the majority of BAS forms completed by business owners and in-house bookkeepers are wrong.

Yet many small busines owners on the Gold Coast insist on trying to save a few dollars by doing it themselves.

As professional bookkeepers that are lodging 100’s of BAS forms each year, we’ve had plenty of practice – compare that to most small businesses that do this kind of work for a few hours each quarter.

We offer a service where we can help small business owners with the BAS prpearation and lodgement. For a small investment you can save much stress and heartache

Tasks include writing cheques (lots of them), sorting and filing a heap of paperwork, and there may also be some data-entry work too.

The ideal candidate would be someone who is looking for some extra income for one day a week, and is prepared to work for it. You’ll probably be a mature / semi retired person who is willing to take instruction and to follow those instructions without question.

If you’re a stay-at-home mum looking for casual work to interact with other adults, then this is not the place for you. There’s no time to socialise, and client confidentiality is of utmost importance.

This position is more for someone who enjoys sitting quietly in a corner and performing specific tasks in a friendly but busy working environment.

The client has a huge portfolio of companies, and runs an efficient bookkeeping system. If you have some bookkeeping skills that would help but is not a priority.

For more details please contact us here stating clearly that you are interested in the Admin / Bookkeeper position

What does knowing the hourly rate for bookkeeping really tell you?

There’s sense in phoning around different electrical stores if you are looking for a certain model fridge or washing machine. People will drive around passing different servos looking at fuel prices. What you are doing is comparing apples with apples. The only other variables may be delivery charges or whether you can get discount for a cash sale (obviously with fuel there’ no negotiation)

When it comes to bookkeeping rates, what does knowing the hourly rate for bookkeeping really tell you?

Many bookkeepers contact us wanting to know how much they should charge for their bookkeeping services. They phone around other bookeepers and ask their rates, then take an average that they feel comfortable with and decide to charge that rate.

There’s bookkeepers that believe they’ll pick up work quicker if they charge low fees. Perhaps is the “Two Dollar Shop” principle of high turnover and low profits.

How much a bookkeeper charges can vary tremendously. How do you compare apples with apples?

Being a professional book-keeping service on Queensland’s Gold Coast, knowing what rates other bookkeepers charge doesn’t really help us ascertain if that bookkeeper is proficient in what they are saying that they can do.

One wonders, then, how a small business owners can ascertain which bookkeeper to select, just by enquiring about the bookeeper’s rates.

How much a bookkeeper charges can vary tremendously. The problem is in trying to compare apples with apples. It’s different hunting around for a price of a certain model fridge or even motor car. It’s common knowledge that buying a car at the beginning of the month or at the end of a month can make a big difference in your negotiations.

Asking Gold Coast Bookkeeping rates will not help you determine the level of bookkeeping skills that you are paying for. We’ve had clients wanting to negotiate our rates by a few dollars per hour – yet when we’ve asked them if they’ll discount their fees to their clients they look at us like we’re from another planet.

How does saving a few dollars per hour on your bookkeeping fees really help your bottom line? Often you’ll find that bookkeepers that are charging a lower rate are not confident in what they are doing. Or they may lack experience in certain areas, or they are just not proficient in what they are doing.

Last week a bookkeeper approached us looking for employment. She had a string of certificates and diplomas, she had more letters after her name than in her name. She was a member of every bookkeeping association in Australia. But was she any good at bookkeeping?

It seems that she’s spent so much time studying and learning theory that she’s not had much time to get her hands dirty in the trenches, doing the hard yards and getting some experience under her belt. Were we impressed by her qualifications? Not really. She’s put a great deal of time and effort and sacrifice into studying, that we do acknowledge.

Bookkeeping is bookkeeping, and hasn’t changed in principal since before Charles Dickens was using a quill pen.

Do they still teach double-entry bookkeeping to young bookkeepers? Who knows. But without that solid foundation of understanding the principles involved, who cares whether you can use a MYOB or Quickbooks software program.

When asking a Gold Coast bookkeeping service about the rates you need to be asking this : Will you be getting the level of service that you need, and will that service be value for money.

We may not be the cheapest bookkeeping service on the Gold Coast, but we’ve saved our clients so much more in accounting fees, and helped tighten up their business operations, taken stress away from small business owners, and benefitted those businesses in far more ways than money can buy

Our Gold Coast bookkeeping rates are geared to give clients value for money, and we end up with clients for life.

Note, the callers do not ask for your card number; they already have it…

This information is worth reading. By understanding how the VISA & Master Card Telephone Credit Card Scam works, you’ll be better prepared to protect yourself.

One of our employees was called on Wednesday from ‘VISA’, and I was called on Thursday from ‘Master Card’.

The scam works like this:

The scam works like this:

Caller: ‘This is (name), and I’m calling from the Security and Fraud Department at VISA. My Badge number is 12460. You r card has been flagged for an unusual purchase pattern, and I’m calling to verify. This would be on your VISA card which
was issued by (name of bank). Did you purchase an Anti-Telemarketing Device for $497.99 from a Marketing company based in ?

When you say ‘No’, the caller continues with,

‘Then we will be issuing a credit to your account. This is a company we have been watching and the charges range from $297 to $497, just under the $500 purchase pattern that flags most cards. Before your next statement, the credit will be sent to (gives you your address), is that correct?’

You say ‘yes’. The caller continues – ‘I will be starting a Fraud investigation. If you have any questions, you should call the 1- 800 number listed on the back of your card (1-800 -VISA) and ask for Security.’

You will need to refer to this Control Number. The caller then gives you a 6 digit number. ‘Do you need me to read it again?’

Here’s the IMPORTANT part on how the scam works.

The caller then says, ‘I need to verify you are in possession of your card’.

He’ll ask you to ‘turn your card over and look for some numbers’. There are 7 numbers; the first 4 are part of your card number, the next 3 are the security Numbers that verify you are the possessor of the card.

These are the numbers you sometimes use to make Internet purchases to prove you have the card. The caller will ask you to read the 3 numbers to him. After you tell the caller the 3 numbers, he’ll say, ‘That is correct, I just needed to verify that the card has not been lost or stolen, and that you still have your card. Do you have any other questions?’

After you say No, the caller then thanks you and states, ‘Don’t hesitate to call back if you do, and hangs up.

You actually say very little, and they never ask for or tell you the Card number.

But after we were called on Wednesday, we called back within 20 minutes to ask a question.. Are we glad we did! The REAL VISA Security Department told us it was a scam and in the last 15 minutes a new purchase of $497..99 was charged to our card.

Long story – short – we made a real fraud report and closed the VISA account. VISA is reissuing us a new number. What the scammers want is the 3-digit PIN number on the back of the card, don’t give it to them. Instead, tell them you’ll call VISA or Master card directly for verification of their conversation.

The real VISA told us that they will never ask for anything on the card as they already know the information since they issued the card! If you give the scammers your 3 Digit PIN Number, you think you’re receiving a credit.

However, by the time you get your statement you’ll see charges for purchases you didn’t make, and by then it’s almost too late and/or more difficult to actually file a fraud report.

What makes this more remarkable is that on Thursday, I got a call from a ‘Jason Richardson of Master Card’ with a word-for-word repeat of the VISA scam.

This time I didn’t let him finish. I hung up! We filed a police report, as instructed by VISA. The police said they are taking several of these reports daily! They also urged us to tell everybody we know that this Scam is happening.

Please pass this on to all your family, friends and neighbours. By informing each other, we protect each other.

Many small businesses should take some time to get all your paperwork together and get it to your bookkeeper or outsourced bookkeeping service- to report on the 2nd quarter (1 September to 31 December 2009) to get your BAS lodged on time.

If you are struggling with your bookkeeping and need help, if you do not have a bookkeeper, or are looking to outsource to a mobile bookkeeping service, then contact us now

You may use MYOB or Quickbooks accounting software – or even some other system for your bookwork. We can assist you with any challenges, or even just relieve you of the burden of the book-keeping

Our bookkeeping Service has clients in and around Coolangatta to Ormeau,Coomera, Helensvale, Broadbeach, Nerang, and Southport, Gold Coast, Australia. Contact us here for details

We’ve had a number of new bookkeeping clients calling us after realising tthat they’ve had enough of trying to do the bookwork themselves.

With Bookkeeping, the data output is only as good as data input

There are many advantages of outsouring your bookkeeping to a professional mobile freelance book-keeping service:

1) Outsouring your bookeeping frees up your time to focus on what you do best in your business

2) Professional bookkeepers do bookkeeping everyday of the week, whereas business owners tend to do the bookwork in frequently – so you forget how to do it, or you may get confused in what you are doing

3) Having a mobile bookkeeper come to your Gold Coast premises means that you don’t have to worry about working late, staying back, or working weekends to catch up on your paperwork

4) You may have a basic understanding of the accounting software package – perhaps you use MYOB or Quickbooks. A simple mistake in the data entry can have a great affect on your financials – and it can also take quite sometime to work out where you have gone wrong

Contact us today and we’ll get started in helping with your bookkeeping