The Financial Foundations of Small Business

Good Books are Key to Good Business

There are two primary reasons that you need to maintain good financial records for your business:

The Australian Tax Office requires you to submit your periodical returns (PAYGW, BAS & Income Tax) which detail the financial operations, (revenue and expenditure) of your business. This information needs to be kept and accessible for a period of 7 years in the event the ATO wish to verify your trading data via an Audit. (This is referred to as Compliance)

Because you’re a pro-active, savvy business owner who knows the true value of having up to date, accurate data that can be used to plan for future growth and development within your business. Not only that, it makes meeting the ATO’s reporting requirements a breeze and can provide you with a snapshot of your financial position at the drop of a hat.

So, keeping good books is crucial to ensuring you’re meeting your obligations as an Australian Small Business Owner in addition to providing you with valuable, live, data that you can actually use. Understanding how that financial data can be used will enable you to effectively forecast your cash flow and plan for profit.

How does Sprout help with this?

Sprout embraces cloud technology such as Xero and Receipt Bank to streamline your bookkeeping processes and utilises the Pure Bookkeeping System which ensures that all works carried out on. your file are consistent with best practice industry standards.

DIY Bookkeeping

For the business owner who is happy to manage their own daily bank reconciliations but wants the peace of mind that comes with having a Registered BAS Agent review and lodge their BAS.

Monthly Subscriptions are available which include:
*Cloud Software Subscriptions
*Monthly Reconciliation Reviews
*Feedback &minor adjustments
*Quarterly System Audits
*BAS Prep & Lodgement

Done For You Books & BAS

Designed for the Owner who would rather be working on other areas of the business or who just wants peace of mind knowing the job is done right by outsourcing their bookkeeping and BAS needs.

Monthly Management Services Include:
*Daily/Weekly/Fortnightly Bank Reconciliations
*Weekly Reconciliation Reporting
*Monthly Provision Reporting
* Payroll, Superannuation & STP Services
*Preparation & Lodgement of Monthly &/or Quarterly Returns

New Xero Setups

Having utilized the Xero platform for close to 10 both in-house and for its client base, Sprout is a Xero Gold Partner and LOVES setting up systems, the right way, from word go!

Xero File Reviews & Cleanups

Not sure if your Xero file is as fit and healthy as it should be? Get in touch to arrange a health check on your file, we'll put it through its paces and ensure it's setup efficiently for your business.

Because it all starts with Us