Frequently Asked Questions

Frequently Asked Questions about Bookkeeping

We receive quite a few questions and enquiries about bookkeeping. These are some of the more frequently asked ones we come across. Chances are you may be thinking of these before you decide to use bookkeeping services.

How will a bookkeeper help my business?

Hiring a bookkeeper allows you to concentrate on what you do best and enables us to help you, by doing what we do best. That way you get the best of both worlds.

What is bookkeeping?

Processing your accounts and maintaining your files in order to provide you and your accountant with easy to understand figures.

How much do bookkeeping services cost?

We charge based on your needs. For businesses just starting out, you may only need assistance on a quarterly basis. If you are registered for GST, we can help get you sorted with your quarterly BAS. A larger business may need help on a weekly basis. Our services are tailored to your requirements.

What is the difference between accounting and bookkeeping?

I like to explain that bookkeepers are like the army and do all the ground work. Accountants are like the Airforce and analyse your books with a birds eye view.

What are the main duties of a bookkeeper?

Bank reconciliations, accounts payable completed for you as well as payroll and all compliance issues.

Why do I need a bookkeeper for my small business?

Quite frankly you don’t. You can do your own accounts but this will only add to the stress of running your business. This is not your area of expertise and you are better off running your business and letting your bookkeeper look after your accounts. We also find that we may have a different perspective and often find our clients asking our opinion on a variety of scenarios.

What is a Registered BAS Agent?

A BAS agent is registered with the Tax Practitioners Board and is able to lodge your BAS on your behalf and can provide advice on BAS related queries.

Can a bookkeeper do payroll?

Absolutely! We are very experienced in the complexities of payroll and currently the changes with STP2. We also have engaged the services of a FairWork Expert which means we can provide you with accurate information based on individual circumstances.

Can bookkeeping be done remotely?

That is the beauty of cloud accounting, you no longer need to provide desk space for an employee. Our bookkeepers work offsite in our office and we can all access the file at the same time.

What is the best bookkeeping software?

We believe in Xero as it is the easiest to use and for our clients to understand. However, we also use MYOB and QBO.

What are some common mistakes in new business software set up?

Over complicating your chart of accounts is a very common mistake. It is best to use the KISS method and keep it simple. This saves you time and money.

Why do you need to see my ID?

Recently the TPB has brought in new rules in order to keep you safe. Bookkeepers will now be asking to see copies of your ID sometimes even if you meet them in person. Just remember, these additional security measures are for your benefit to keep you and your business safe.

Book A Discovery Call

You look after your business and we will look after your accounts.  
Call us today for your free consultation and discover how we’ll help you get time back.

What our Clients Say About Us

Excellent, Reliable and Experienced

I highly recommend Sheils for your bookkeeping needs. I entrust her with my three different businesses and find her an excellent, reliable and experienced resource.

She is approaches all requests with patience and diligence which I find a great asset as we navigate around layers and questions concerning wages, rates, and so on. She is a delight.

Wonder Pies, Baketico and Social Set Media

Perfect Support for my Company

Using Sheils Bookkeeping Service since closing my office a few years ago has been the perfect support for my company’s ongoing business. 

Sheila provides responsive, informed, thorough and comprehensive service, all on line, giving me great peace of mind that all my bookkeeping needs are professionally managed.

Managing Director, Enterprise Knowledge

Cost Effective Bookkeeping

Motion Health Toorak struggled to find good bookkeeping services after our long serving financial controller retired. We were finally introduced to Sheila who inherited, what then was, quit a mess.

She tidied that up and now provides cost effective bookkeeping and business reporting. Thank you Sheila.

Motion Health, Toorak

Never Misses a Beat – Highly Recommended

I first met Sheila 3 and a half years ago. She was recommended by a friend, I gave her a call and we met for coffee. I had just purchased a small hair dressing salon and had never had my own business before and was in a panic about all the things I would need to do financially behind the scenes. 

Sheila reassured me that’s her expertise and she will be with me to handle all those things every step of the way. And she sure has been, both Sheila’s and my own businesses have grown and blossomed over the last 3 years and she has never missed a beat doing the pay runs each fortnight, BAS lodgements as well as going above and beyond with assistance in navigating through the covid times. I highly recommend Sheila and her team, thank you Sheila! 

Evolve Hair Artistry, Hairdressing salon in Boronia

Impressive Attention to Detail

I have used Sheils Bookkeeping for 2 years and couldn’t be happier with my decision. Prior to doing this I was working long hours during the week and then trying to catch up on the books on the weekend which was just wearing me down.

Since handing over the bookkeeping, I have been consistently impressed with the level of detail that Sheils and her team have. The amount of things that have been picked up and fixed would never have been fixed if I was still doing my books.

Minuteman Press Mitcham