Frequently Asked Questions
Do you have access to my bank accounts ?
NO, we don't have access to your bank account but we do require copies of any statements provided by your banks so that we can reconcile your monthly account transactions and ensure that there are no duplications and that all deposits or payments have been recorded in your accounts.
Can you prepare my year end income taxes ?
NO, we are not tax agents. We process your information appropriately for each tax period as well as for your financial year end commitments so that you can provide the appropriate reports to your accountant or tax agent to review, calculate and lodge your income tax return.
Do you offer payroll services ?
YES, we do offer a payroll service. We can also transmit your payroll electronically and provide you with the ABA file so that your employees payments are transferred directly into their bank account with no need for you to enter each payment manually.
How long will it take for my information to be prepared ?
It really depends how much paperwork you send to us and whether there are any queries with the paperwork provided or if after reconciling the accounts we pick up on any missing paperwork or discrepancies. We have found that on average it takes a minute to per bank line to enter and reconcile the transactions that relate to that item on the bank statement. So if you have 30 lines on your bank statement, you could work on an average of 30 minutes to process.
Do I need to purchase any software to read my financial reports ?
NO, the only software that you will require to read the reports that we send to you, is the FREE Adobe Reader.
Does my virtual bookkeeper specialise in bookkeeping for only certain industries ?
NO, our clients businesses vary greatly. We have many different types of businesses in our client base and the bookkeeping accounts are setup to match the business industry accordingly.