Bookkeeping services for startups and SMEs

Yep, bookkeeping and accounting for startups and fast growing SMEs differs from traditional bookkeeping and accounting. In so many ways. Firstly, there’s the cloud. We don’t just talk about being in the cloud – we actually are. And we combine its convenience with the latest time-saving tech to streamline your bookkeeping, payroll and tax.

This creates huge efficiencies in the processing. Our team are able to up date your financial records on a daily basis, and there is no time lost to travel, slow internet, using the space computer in a clients back office. All these little things add up to a big time saving for everyone!

Then, there’s expert financial advice from our CFO-on-call service for the bigger stuff, like raising capital, getting life-saving cash injections through your R&D tax, streamlining your operations and expanding into new markets.

And there’s the ability to choose a level of service that suits your stage – we scale with you – with fair, transparent pricing (no lock ins!). Please take a look at our services below and when you’re ready to chat, book a free call or email us with any questions in the meantime..

 

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What's included in a Bookkeeping Package?

Our bookkeeping engagements are on a fixed monthly retainer. We’ve worked hard to set fair rates that scale as you grow. They reflect the work we do for you – nothing more, nothing less. All of our monthly bookkeeping packages include:

  1. Allocating your bank transactions on a daily basis
  2. Touching base with you once a week with an update on your accounts
  3. Calculation and lodgement of your BAS, via the BAS Agent Portal
  4. Monthly Management reports on your business performance
  5. A Receipt Bank subscription

 

How does it work?

We understand what it's like running a small business. Constantly busy, and never enough hours in the day to get everything done. That's why we have created a process that requires minimal effort on your part but ensures you get numbers that you can trust.

Recording Purchases

We provide all of our clients with a Receipt Bank subscription with unlimited users. This allows you to snap photo's of receipts whilst you are on the go, or forward to us invoices as you receive them from suppliers. This means that for every cent that leaves your bank account, we have the supporting document attached to it in your Xero file.

Allocating Bank Transactions

Every day of the week, one of our Xero Certified Bookkeepers will be logging into your Xero Accounting file and allocating the transactions as they appear via the bank feed. If there are any transactions they need your help in identifying or coding, then they are saved up and communicated to you when we touch base each week.

Processing Payroll

Our team of Payroll experts can help you manage your team and your legal obligations, so you can focus on your business. For businesses with less than 10 employees, we generally base our payroll serivce off Xero Payroll; for larger businesses we generally roll out Keypay, which is the best in the business for full-service payroll with Time & Attendance and rostering functionality.

Monthly Reports

It's our believe that monthly reports should be clear and tailored to your business. For the small businesses that we work with, we will generally use the Reporting Pack that comes straight from your Xero file. For businesses that are a bit more complex, or require the consolidation of several entities, our preference is FathomHQ.

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What's the difference between accrual and cash bookkeeping?

Cash bookkeeping only looks at when money enters or leaves a bank account. Accrual bookkeeping is a more sophisticated approach that records when the money was earned or owed. Most larger companies use accrual and iKeep does accrual from day one so there’s no painful transition later.

What companies is iKeep suited for?

Generally, our customers are startups, technology companies, and nonprofits with 1–300 employees. But we think iKeep is a great match for any forward thinking company no matter the industry. If you’re not sure iKeep is right for you, please get in touch with us for a chat.

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