BOOKKEEPING VICTORIA

• Formation of sales and service contracts with customers.
• Creation of customer quotations and invoices.
• Issuance of adjustment/credit notes (if required) and calculation of correct GST.
• Production and printing of 30 days/60 days/90 days accounts; follow up for immediate payments.
• Monitoring / implementing action on credit limits, overdue accounts, debt collection policies and procedures.
• Processing and monitoring of sales forecasts, targets, budgets, commission payable/paid and discounts.
• Production, analysis and management of month end reporting/management reporting and SWOT analysis.

• Entering of supplier's invoices into respective journals / system and marking them posted. The invoices description (especially rate and amount) must be checked and tallied with supplier statement and placed in unpaid folder for timely payment (depend on cash flow position).
• Creating a system to avoid duplicate and incorrect payments.
• Verification of stock with delivery dockets.
• Verification of items, price, invoice amounts, quantity and quality as per agreement /contract or quotation.
• Monitoring of credit terms, deductions for returns or for goods not received or damaged, and discounts on early payments.
• Creation of adjustment notes (if required) and calculation of the correct GST.
• Preparation of payment schedules to suppliers according to contract /terms and cash flow.
• SWOT Analysis.

• Help you for the preparation of contracts with sub-contractor(s). Including, where applicable the addition of special conditions to protect your company interests.
• Preparation of spreadsheets, updating accounting software to monitor progressive or installment payments.
• Progressive payment(s) will be made to sub-contractor(s) as per contract and on verification by the supervisor that the job has been completed to the desired level/standard. The final payment will only be released to the sub-contractor(s) on completion of job and on receipt of the satisfactory compliance certificate(s) from the customers and supervisor.
• Timely issuance of all credit/adjustment notes as per agreement and signed by the sub-contractor(s) and the supervisor. The GST amount should also be correctly tallied.
• Preparation and submission of timely invoice statements, project reports; project monitoring and project costing which are important parts of project management.

Keeping an eye on cash flow is important role of business management. We always give key importance to cash flow monitoring. Bookkeeping Victoria provides comprehensive services to process and manage cash flow that include:

• Preparation of cash flow forecast / projections.
• Cash flow management and analysis.
• Cash flow strategies (How to close the gap?)
• Preparation and analysis of management reports including Profit/Loss statements, balance sheets, income statements, assets and liability statements, costing and master budgeting.

• Prevention from forgery
• Monitoring of cash flow.
• Monitoring of each transaction including cheque, cash, credit cards, direct debit etc. Errors and incorrect transactions can prove costly.
• Ensuring receipts and payments are taking place on time.
• Receiving correct amounts (Accounts Receivables, Bank Interest and other income).
• Receiving correct payment(s) in the correct account (if have more than one bank account).
• Monitoring commitments for payment (Accounts Payable).

We have seen businesses overstretch themselves with no money left to pay to the ATO in lieu of GST/PAYG liabilities. Bookkeeping Victoria understands your statutory obligations and will implement a system that monitors your cash flow. It is very important to closely monitor the timing of transactions taking place, which included receipts and payments (receivables and payables), short term and long term liabilities to ensure that you always have some money to meet your ATO/GST/PAYG/Superfund obligations and urgent business needs.