When starting a new business there is lots to be done besides the core business function.

Some of the things for start-up include:

  • A good accountant
  • A good bookkeeper/BAS Agent for setup and organisation of office procedures as well as training to implement procedures and learn how to use software
  • Software (MYOB or Xero) for data entry/coding and supplier/customer recording
  • Decide what kind of entity (Sole Trader, Partnership, Company)
  • Obtain ABN
  • Register Business Name
  • If required, Tax File Number
  • Register for GST and PAYG (PAYG optional monthly/quarterly for small/medium business)
  • Obtains a Default Super Fund (if employees don’t nominate their own)
  • Setup a Superannuation Clearing House (mandatory for all businesses)
  • Obtain Workers Compensation Insurance (if gross wages over $7500)
  • Obtain Public Liability and Business Insurance

The option to outsource your bookkeeping is always available. Outsourcing can include:

  • Everything – filing, bill payments, MYOB or Xero debtor/creditor entry, Bank and Payroll reconciliations, award lookup, payroll, base hourly and penalty rates, BAS Preparation, BAS Lodgement, Workers Compensation Actual and Estimate, Superannuation calculation, lodgement and payment
  • Data Entry – Reconciliation – BAS Compilation – Lodgement
  • Payroll
  • BAS Checking & Lodgement
  • End Of Year BAS Reconciliation
  • End Of Year Payroll – Reconciliation – Payment Summaries – EMPDUPE File Lodgement – TPAR Lodgement
  • Payroll Tax, Payroll Tax Reconciliation
  • Government Portal Reporting


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