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Reliable Bookkeeping Services for Businesses in Australia
PremierOne’s bookkeeping services provide a full suite of bookkeeping and accounting services to support medium enterprises (SME) all over Australia. We help you remove the burden of bookkeeping, enabling you to focus on running and growing your businesses.
Accurate accounting is the cornerstone of an effective management information system (MIS). Our accounting and bookkeeping services provide a comprehensive year-round solution to all your accounting needs. We ensure your financial data is always accurate and complete, enabling you to gain an accurate picture of your business’s financial performance.
If your bills and receipts are piling up in a shoe box, you risk non-compliance with the ATO. As a result, there could be severe legal and financial penalties. Our service includes data entries that reflect all transactions undertaken by the business. During the month-end process, adjustment journals are entered into the system, ensuring all transactions relating to a period, or month, are captured and reflected in the financial reports.
By entrusting your bookkeeping tasks to PremierOne, you can have confidence in the accuracy and reliability of your financial records.
Why Should you choose PremierOne’s Bookkeeping Services?
Streamline Your Finances with Expert Bookkeepers
- Accurate Data Entry and Recording: Our meticulous bookkeepers ensure that every financial transaction is accurately recorded, whether it’s sales, expenses, or payroll. We utilise advanced accounting software and tools to maintain organised and up-to-date financial records for your business.
- Bank Reconciliations: Keeping track of your bank transactions can be overwhelming. We perform regular bank reconciliations to ensure that your records match your bank statements, identifying any discrepancies and maintaining the accuracy of your financial data.
- Accounts Payable and Receivable Management: We handle your accounts payable and receivable processes efficiently, ensuring that invoices are issued and payments are made on time. We also track outstanding payments and manage vendor relationships, optimising your cash flow management.
- Financial Reporting: We help you prepare timely and accurate financial reports, such as profit and loss statements, balance sheets, and cash flow statements. These reports provide valuable insights into your business’s financial health, enabling you to make informed decisions for growth and profitability.
- GST and BAS Preparation: Staying compliant with Goods and Services Tax (GST) and Business Activity Statements (BAS) is crucial for businesses in Australia. Our bookkeepers are well-versed in GST regulations and can assist you in preparing and lodging your BAS accurately and on time.
- Payroll Management: Managing payroll can be complex, with various tax obligations and compliance requirements. Our services include payroll management, ensuring accurate processing of employee wages, superannuation contributions, and other payroll-related tasks.
Bookkeeping Services - FAQs
What is bookkeeping and what are its importance?Bookkeeping is the process of recording all your financial transactions into accounts on a regular basis preferable everyday. It is really essential for understanding your business performance and for preparing financial reports.What does a bookkeeper do for a small business?A small business bookkeeper is able to take care of the financial aspects of a small business that a busy Small Business Owner would usually have to handle, despite it often not being in their area of expertise.Why outsource my accounting department?Let a professional do a professional’s job. If you are like most business owners and CEOs, you take full pride in the services or products your company provides. You want to focus your time and energy on business strategy and goals. Outsourcing the accounting department to a dedicated, highly skilled professional services firm allows you to do exactly that. By outsourcing your accounting to PremierOne you’ll save valuable time in your day, reduce operating costs and gain peace of mind.What locations do you offer your Bookkeeper’s outsourcing services in Australia?Though we are located in Melbourne we outsource our bookkeeper’s to all states across Australia.Where is your office Located?Our Office is located in Melbourne, Victoria. Our complete address : Suite 225, Waterman Business Centre, 44 Lakeview Drive, Scoresby, Victoria – 3179.What are the duties of a bookkeeper?Bookkeepers are primarily responsible for maintaining the details of all the transactions done. Some of his responsibilities include Payment remittance, submitting the payments, recording payments in ledgers etc.. some Bookkeepers also take the additional responsibility of sending reminders for payments to be received to the client and track if it is received.What should a bookkeeper know for bookkeeping?Our bookkeepers should become familiar with your chart of accounts for recording your financial statements. Bookkeepers would also reconcile your bank accounts.Can your bookkeepers do account receivable?Yes Premierone’s bookkeepers are well equipped to keep track of your account receivable of your business.What is the difference between a bookkeeper and accounting clerk?Our bookkeepers will act as the main accounting professional for entire accounts of small business enterprises, while accountants would be able to manage only specific account types.How much would it cost for availing outsourced bookkeepers from premierone?The Cost for bookkeepers vary depending on multiple factors for small businesses . However we guarantee you that we provide bookkeeping at most affordable price in the industry.Can your Bookkeeper provide financial advice?Our Bookkeepers provide data which can be used for understanding the financial status of small businesses. For financial advice and forecasts you can use our Virtual CFO services.what is the minimum duration commitment for availing bookkeepers of premierone?You can avail bookkeepers from a minimum of 5 hours depending on your need.Can your outsourced bookkeepers do Xero Bookkeeping?Yes our bookkeepers are experienced in Xero bookkeeping and are already doing Xero bookkeeping services for multiple clients.Can your outsourced bookkeepers do Myob Bookkeeping?Yes our bookkeepers are experienced in Myob bookkeeping and are already doing Xero bookkeeping services for multiple clients.
Can a bookkeeper do Payroll?Bookkeeper and payroll are not one and the same. Our bookkeepers duties involve around transaction management which includes Payment remittance, submitting the payments, recording payments in ledgers etc.. Our Bookkeepers also take the additional responsibility of sending reminders for payments to be received to the client and track if it is received. If you require Payroll services you can opt for our payroll servicesCan bookkeeping be done Remotely?Yes. Our Bookkeepers are experienced and are capable of taking care of all our clients bookkeeping remotely. They have successfully managed the bookkeeping for most of our clients remotely in the past 2 years due to covid.How hiring bookkeeper help for my business growth?For small business hiring a bookkeeper helps them to streamline their expense which will inturn help them to invest appropriately and get more dividends. Also, since our bookkeepers take care of all your bookkeeping activities you can spend the time you spend on it for something else productively. Our Bookkeepers keep themselves updated on the updates in law and compliance changes and act accordingly. Hence you need not worry about them.What is a BAS Agents? Does Premierone have BAS agents?BAS Agents are registered practitioners who are authorized to prepare and file BAS returns on your behalf. Yes. We have bookkeepers who are registered BAS agents. Hence we provide BAS services to our clients.What is the best bookkeeping Software?Bookkeeping softwares are decided based on the needs of our clients. Our bookkeepers would suggest you the best bookkeeping software upon analysing your specific needs. However the most popular bookkeeping softwares available in market are Xero , Myob & QuickbooksCan a bookkeeper do tax returns?Yes. Our bookkeepers will be able to prepare tax returns for sole traders and individual self assessment returns.What is the level of expertise of your bookkeepers?Our bookkeepers are experienced in all bookkeeping services. Their experience ranges from 10 to 40years.Will my data be secured with your bookkeeper?Yes our bookkeepers are committed to their work and all your data is completely safe with us.is it cost effective to hire bookkeeper for my small business than trying myself?It is best to hire a bookkeeper for managing your small business instead of doing it yourself, as it saves a lot of your time spent on bookkeeping activities. Bookkeeping by an experienced bookkeeper will also reduce the errors, than doing by yourself.What should I provide a bookkeeper for starting with bookkeeping?Primary responsibility of the bookkeepers revolves around your accounts. Hence, it is imperative that you provide the bookkeepers, the access to your accounts and records to get started with bookkeeping activities.
Bookkeeping is the process of recording all your financial transactions into accounts on a regular basis, preferably daily. It is essential for understanding your business performance and for preparing financial reports. A small business bookkeeper takes care of all financial aspects of a small business. This alleviates the stress from the business owner. Outsourcing the accounting department to a dedicated, highly-skilled professional services firm allows you to focus your time and energy on business strategy and goals. Though we are located in Melbourne, we offer bookkeeping services Australia-wide. You can find us at Suite 225, Waterman Business Centre, 44 Lakeview Drive, Scoresby, VIC 3179. Bookkeepers are primarily responsible for maintaining the details of all business transactions. This includes payment remittance, submitting payments, recording payments in ledgers etc. They may also send reminders to clients. Our bookkeepers become familiar with your chart of accounts for recording your financial statements. Bookkeepers also reconcile your bank accounts. Yes PremierOne’s bookkeepers are well-equipped to keep track of your account receivable of your business. Our bookkeepers manage accounts of entire small to medium business enterprises. An accounting clerk can only manage specific accounting tasks. Our costs vary depending on our clients’ requirements.Book your FREE 15-minute CPA consultation to learn more. Our bookkeepers provide data which can be used for understanding the financial status of your business. For financial advice and forecasts you can utilise our virtual CFO services. The minimum appointment is just 5-hours. Yes, our bookkeepers are experienced in Xero bookkeeping. Yes, our bookkeepers are experienced in MYOB bookkeeping. What is bookkeeping and why is it important?What does a bookkeeper do for a small business?What are the possible challenges an Employer Could face concerning the Bookkeeping??• One of the biggest challenge in book keeping is being aware of tax concessions, liabilities and current government rules
• Managing Flow Of Capital: This is really crucial for forecasts and management of the debts in a smart way
• Formulating Process for Accounts: Receivables and collections
• Failing To reconcile on a regular basis : it is recommended to reconcile monthly financial statements for keeping track of your business earnings and spending.
• Controlling Expenditure: Bookkeepers help in reducing the expenditure by reviewing the amount spent on each resource and cutting down the unnecessary cost on time.
• Ensuring the accrued employees’ entitlements are appropriately accounted for in the accounts of accounts to assess the realistic business performance metrics.
• Frequent changes in the working hours, overtime hours and pay rates would require someone capable of processing these correctly.
• Processing of parental leave, maternity benefits, redundancy and work injury-related entitlements and payments.
• Correct reporting to ATO and annual reconciliation for the wages/PAYG WH reported to the ATO with the payroll system.
• Do I have good governance and controls in my payroll process to mitigate the risk of error and fraud?
• If your payroll system is a standalone system, periodical summary reports will get picked up in your financial accounting systems.
• Suppose the KPI or performance bonus is meant to be paid as super exclusive, in 8/10 cases. In that case, it gets processed with superannuation, which goes unnoticed by the employers and does cause a severe negative impact on the bottom line.What’s PremierOne’s Process?• Setting up and configuring your payroll systems, specific to your requirements.
• Creating the master file data for your employees with date of birth, TFN, leave entitlements and pay rates.
• After getting the timesheet from you, we shall process the pay and send the draft for your approval.
• Once approved, we shall finalise the payroll, email the payslips to your employees, send you the payment electronic batch file for you to process through online banking and reporting to the ATO through STP.
• Superannuation processing either monthly or quarterly based on your reporting obligations.
• End of financial year STP finalisation and reporting to the ATO.
• Month end reports for you to track the various payment categories, changes over the previous pays,
gross summary journal for your accounts department to account for the payroll.
• Round the clock support to address queries/issues coming from you and your employees.
• Appropriate calculation of tax for fractured pays arising due to termination and onboarding of employees outside the normal pay calendar.Why outsource my accounting department?What locations do you offer bookkeeping services in?Where is PremierOne located?What are the duties of a bookkeeper?What does my bookkeeper need to knowCan your bookkeepers manage accounts receivable?What is the difference between a bookkeeper and accounting clerk?How much does outsourced bookkeeping from PremierOne cost?Can your bookkeepers provide financial advice?What is the minimum duration I can hire a PremierOne bookkeeper for?Can PremierOne outsourced bookkeepers do Xero bookkeeping?Can PremierOne outsourced bookkeepers do MYOB bookkeeping?
Payroll tax is the levy payable by the businesses to the state revenue offices based on the annual Australia national wages threshold stipulated for each state. It is payable either on a monthly or yearly basis. PAYG withholding is the income tax applicable to your employees’ wages and salaries, which needs to be deducted from the salaries and wages payment and remitted to the ATO either monthly or quarterly, based on your gross sales turnover. • Full-time employment where an employee works for a total of 38 hours a week. • Part-time employment where an employee works only for a few days or hours in a week with full-time employment entitlements calculated pro-rata. • Casual employment where an employee works on a casual basis with no specified hours and is not entitled to the benefits and entitlements applicable for full-time employees. • Labour hire where the employee performs the work on a contract basis, with the contract start and end terms clearly defined. This is commonly seen in the Information Technology industry. • The age and right to work in Australia • Tax residential status • Adequate work cover insurance to be provided by the employer • Superannuation membership • Tax file number • Bank account details • Personal/carer’s leave (formerly known as sick leave) • Annual leave • Long service leave • Public holiday pay • Compassionate leave • Weekly: 52 cycles per year • Fortnightly: 26 cycles per year • Bi-monthly: 24 cycles per year Wages, commission, allowances, bonuses are considered ordinary time earnings (OTE) and, accordingly, SCG is payable by the employer on such. Overtime wages don’t attract a SCG. • Single Touch Payroll (STP) reporting to the ATO at the end of each pay period processing. • Superannuation contribution to the nominated super funds through the clearinghouse on quarterly or monthly intervals. • PAYG withholding reporting and payment to the ATO monthly or quarterly based on whether you are a small, medium or large withholder. • Computation and reporting for the payroll tax on a monthly or annual basis to the respective state revenue offices based on which states your employees are located. • Annual actual wages declaration to your work cover insurances (this varies for each state) based on which actual premium is determined. • If you are engaged in labour hire contracts or supply services, a labour-hire licence is now mandatory. • End of financial year (EOFY) STP reporting and reconciliations to produce payment summary reports to your employees and the ATO. • Ensure the wages for June are paid and credited into the employees’ bank accounts on or before 30th June. • Ensure your superannuation for the June quarter gets paid by 30th June to qualify for a tax deduction. If it’s not possible to determine the superannuation liability for June, pay April and May at least, which will act as a tax saver for you. • If you have any KPI bonus, commission, directors’fees or incentives that are payable relevant to the current financial year but could only be correctly computed and paid in the subsequent financial year, making a provision in the current financial year will also act as a tax saver. • Initial setting up and configuration of the employees with the proper employment classification and entitlements. • Pro-rata calculations for a new start and exiting employees. • Answering technical queries from employees. • Calculation of the complex payroll tax obligations and potential penalties if not reported correctly. • Tracking of leave entitlements, especially long service leave, as it varies from state to state. • Ensuring the accrued employees’ entitlements are appropriately accounted for to assess realistic business performance metrics. • Frequent changes in working hours, overtime hours and pay rates requires accuracy and attention to detail. • Processing of parental leave, maternity benefits, redundancy and work injury-related entitlements and payments. • Correct reporting to the ATO and annual reconciliation for wages/PAYG withholding. • Implementing good governance and controls in your payroll process to mitigate the risk of error and fraud. • If your payroll system is a standalone system, periodical summary reports will get picked up in your financial accounting systems. • Remembering that KPI or performance bonuses are to be paid exclusive of a superannuation contribution. • Setting up and configuring your payroll systems, specific to your requirements. • Creating the master file data for your employees with date of birth, TFN, leave entitlements and pay rates. • Process the pay run based on timesheets and sending the draft for your approval. • Once approved, we finalise the payroll, email payslips to employees, send you the electronic batch file for processing through online banking, and fulfil ATO reporting requirements through STP. • Superannuation processing either monthly or quarterly based on your reporting obligations. • End of financial year STP finalisation and reporting to the ATO. • Month-end reporting to track the various payment categories, changes over previous pays and gross summary journal. • Round-the-clock support to address any queries that arise. • Appropriate calculation of tax for fractured pays arising due to termination and onboarding of employees outside the normal pay calendar. What is payroll tax and PAYG withholding?What are the various employment arrangements that are commonly seen in Australia businesses?What are the critical factors for you to have an employee on board?What are the significant entitlements for the full-time/part-time employees?What are the typical pay periods practised by Australian Businesses?What attracts a superannuation guarantee charge (SCG) for employers?What are the various regulatory/statutory reporting obligations for the employers?What are the EOFY tax-saving tips and tricks?What challenges could an employer face concerning payroll?What’s PremierOne’s Process?
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Clients love our exceptional Business Accounting Service!
Good Expertise on tax laws in Australia Maru's expertise helped cleared a lot of my questions and his patience ensured I understood the concepts and tax laws.
Jaidyn Lai
Best Tax accountant near me Mr.Maru was extremely thorough with the entire tax return process and ran me through all the requirements. He made sure I received all my entitled returns for the tax period. Will definitely be doing my taxes with Premierone Accounting in the upcoming financial years :))
Jayabharathi Prabakar
Highly recommend for tax accounting services after second time tax filing This is the second time I have filed my tax returns through Premiere One. Maru is prompt, friendly and supportive. He goes through our documents in detail and ensures the tax returns are filed without any further hassle. Highly recommend!
Raja Koushik
Meet Our Team
Maru Natarajan
Managing Director
Maru Natarajan
Managing Director
Categories: Virtual CFO Services, Tax Accounting, Payroll and Xero/MYOB accounting Services.
With 25+ years’ professional experience working as a chief financial officer (CFO) and Group Financial controller across many industries in the Australasian region, Maru has turned his focus to providing world-class financial and accounting services to small and medium Australian business enterprises. Maru, along with his dedicated team of PremierOne accounting professionals, is committed to utilizing his expertise and experience to help Australian businesses flourish. He is a Commerce Graduate, Fellow of CPA, CMA , Certified Xero Advisor and a Registered tax agent.
Maru Natarajan
Managing Director
Categories: Virtual CFO Services, Tax Accounting, Payroll and Xero/MYOB accounting Services.
With 25+ years’ professional experience working as a chief financial officer (CFO) and Group Financial controller across many industries in the Australasian region, Maru has turned his focus to providing world-class financial and accounting services to small and medium Australian business enterprises. Maru, along with his dedicated team of PremierOne accounting professionals, is committed to utilizing his expertise and experience to help Australian businesses flourish. He is a Commerce Graduate, Fellow of CPA, CMA , Certified Xero Advisor and a Registered tax agent.
Maree Hamilton
Tax Accountant
Chethiya Viduranga
Aged Care Accountant.
Chethiya is a highly experienced and partially qualified Chartered Accountant with a bachelor’s in business administration . Currently, he is pursuing his Master of Professional Accounting degree. With over 5 years of experience in finance and accounting he has developed a strong expertise in financial accounting and reporting.
Maree Hamilton
Tax Accountant
Maree is a certified practising accountant (CPA) and member of the National Tax and Accountants’ Association. With over 20 years’ professional experience in tax, accounting and bookkeeping, Maree has a wealth of experience in dealing with businesses and the many issues they face. With certifications in Xero, Quickbooks and MYOB, Maree’s passion is helping businesses to overcome the challenges of tax and accounting, and help them adapt to the future with efficient systems. Maree prides herself on working with businesses to maximise their profits and not only reach their goals but exceed them.
Hirusha Jayasekara
Aged Care Accountant
Hirusha Jayasekara
Aged Care Accountant
A commerce graduate from Deakin University, Hirusha specialises in accounting for the aged-care sector. He efficiently manages payroll, resident billing, attending to Services Australia requirements and overseeing day-to-day accounting, using sophisticated software applications.
Hirusha Jayasekara
Aged Care Accountant
A commerce graduate from Deakin University, Hirusha specialises in accounting for the aged-care sector. He efficiently manages payroll, resident billing, attending to Services Australia requirements and overseeing day-to-day accounting, using sophisticated software applications.
Fransisco Silva
On-Call / Virtual CFO
Francisco is a chief financial officer (CFO) with 20 years’ of professional experience with organizations such as KPMG, Shell, laxoSmithKline, Goodyear Tyres, Toll Global Logistics and Manpower. He is a Fellow of CPA, Fellow of CIMA (UK), in addition to holding a BSc. Accounting and Financial Management, post graduate diploma in Corporate and Commercial Law from Monash University and an Executive MBA from Melbourne Business School. Francisco is well-versed in strategic financial planning, annual budgeting, monthly forecasting, business model reviews, growth strategies, business tenders and mergers and acquisitions.
Fransisco Silva
On-Call / Virtual CFO
Francisco is a chief financial officer (CFO) with 20 years’ of professional experience with organizations such as KPMG, Shell, laxoSmithKline, Goodyear Tyres, Toll Global Logistics and Manpower. He is a Fellow of CPA, Fellow of CIMA (UK), in addition to holding a BSc. Accounting and Financial Management, post graduate diploma in Corporate and Commercial Law from Monash University and an Executive MBA from Melbourne Business School. Francisco is well-versed in strategic financial planning, annual budgeting, monthly forecasting, business model reviews, growth strategies, business tenders and mergers and acquisitions.
Rohit Maru
JR Accountant
Rohit provides administrative services and exceptional customer experience to clients. Currently studying for a double degree in Commerce and Information Technology, Rohit continuously demonstrates high levels of professionalism and will surely enjoy a long and successful career in the accounting industry.
Deepa
Administration Head
With a degree in B.Sc App. Science and a Higher Diploma in Software Engineering, Deepa has the relevant working experience of looking after the office administration tasks.
Charitha Ranasinghe
Manager - Client Services
Charitha is a chartered accountant with over 12 years’ professional experience gained while working for public practice firms like Ernst & Young. He holds memberships with the CPA Australia and the Institute of Chartered Accountants of Sri Lanka. He is actively studying to become a chartered tax advisor (CTA) and is a certified Xero advisor. Charitha is highly-proficient in financial reporting, annual budgeting, monthly forecasting, working capital management, tax compliance and payroll-related services.
Charitha Ranasinghe
Manager – Client Services
Charitha is a chartered accountant with over 12 years’ professional experience gained while working for public practice firms like Ernst & Young. He holds memberships with the CPA Australia and the Institute of Chartered Accountants of Sri Lanka. He is actively studying to become a chartered tax advisor (CTA) and is a certified Xero advisor. Charitha is highly-proficient in financial reporting, annual budgeting, monthly forecasting, working capital management, tax compliance and payroll-related services.
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