Counting Sense
For all your bookkeeping needs, call us at call now! 1300 880 863

Case Study 1 – A sole trader in the manufacturing industry

Challenge: 3 years tax returns need to be lodged in the next 2 weeks

  • The ATO were sending threatening letters
  • The client had already rung the ATO so many times with excuses, they were no longer returning his calls
  • The Accountant had said: “get a bookkeeper”
  • The client found himself awake and worrying at night

Solution: He brought a copy of his MYOB data file to our office (he had been using it to enter his sales for the last 3 years, but no expenses had been entered) along with a large box of all his expenses and bank statements.
We quickly sorted through the box to see what else we needed, this was quickly supplied by the client. We then rang the Accountant and advised we would be doing the catch up and lodge the BAS statements for the three years as we went. At the end of each year we arranged to send the necessary reports to the Accountant so she could lodge each tax return as we had finished it.

Outcome: The 3 year catch up was completed in 2 weeks and each year had been sent to the Accountant to lodge the tax return immediately it was finished.
The client stopped waking up and worrying in the middle of the night and we have anohter happy customer!

Case Study 2 – A small business with 6 employees and an accounting program with 2 years of incorrect information

Challenge: 2 years of data in a Xero data file had been entered incorrectly, the bank entries did not reconcile with the bank statements and the wages did not reconcile with what had been paid to the employees. Further, none of the infomation in the Xero data file reconciled with what had been lodged on the BAS statements.

Solution: Keeping the old Xero data file for reference, we started a new Xero data file and rebuilt all of the 2 years information so everything balanced and reconciled. The biggest challenge in this case was re-constituting the wages against what had been paid from the business bank account and what had been paid from the Directors personal accounts when cashflow had been short.

Outcome: After 6 weeks working on this file, the client now has 2 years of reliable and correct financial data on which to base decisions about staffing and moving forward in his business. The client is now a regular monthly customer of Counting Sense and knows our quality of work. He trusts us to keep his bookkeeping up to date and knows we will bring any issues immediately to his attention.

Specialists In:

Xero

MYOB

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Contact Us

Unit 18/658 South Road
Moorabbin
VIC 3189
Australia

1300 880 863

03 8560 0599

reception@countingsense.com
.au