Bookkeeping
End-to-End Bookkeeping Services :
At Vizara Global, we provide comprehensive bookkeeping solutions tailored to your business needs. Our processes ensure accuracy, compliance with Australian Accounting Standards (AASB), and full adherence to ATO regulations, giving you complete confidence in your financial records.
Our Core Services :
-
Initial Setup & Accounting System Configuration
-
Daily Transaction Recording
-
Accounts Payable (AP) Management & Reconciliation
-
Accounts Receivable (AR) Management & Reconciliation
-
Cost of Goods Sold (COGS) & Inventory Management
-
Payroll Services
-
Bank Reconciliation
-
Cash Flow Management & Budgeting
-
Preparation of Comprehensive Financial Statements
-
BAS, IAS, PAYG & SMSF Compliance
1. Initial Setup & Accounting System Configuration :
We establish a structured accounting system aligned with your business operations to ensure accurate reporting and compliance.
Process :
-
Chart of Accounts (COA) :
Design COA customised to your business, ensuring clarity in reporting.
-
Historical Transactions :
Review and adjust prior entries for accuracy.
-
Bank Integration :
Upload and reconcile bank statements with ledgers.
-
Transaction Mapping :
Classify transactions correctly, including GST and payroll.
-
System Setup :
Configure reporting for BAS, PAYG, and statutory compliance.
Client Benefits :
-
Accurate and compliant financial foundation.
-
Clear reporting and insights from the outset.
-
A system ready for ongoing management and compliance.
2. Accounts Receivable (AR) Management & Reconciliation :
We streamline receivables to ensure timely payments, healthy cash flow, and accurate records.
Process :
-
Invoice Creation :
Generate and record accurate invoices with GST compliance.
-
Monitoring :
Use AR Ageing Reports to track overdue and pending payments.
-
Follow-Up :
Issue reminders, resolve queries, and follow up overdue accounts.
-
Reconciliation :
Match customer accounts with ledgers for accuracy.
-
Reporting :
Provide real-time insights through AR reports and statements.
Client Benefits :
-
Improved cash flow and financial stability.
-
Transparent receivables management.
-
Audit-ready, compliant records.
3. Accounts Payable (AP) Management & Reconciliation :
We manage payables to ensure timely supplier payments and compliance.
Process :
-
Invoice Recording :
Capture supplier invoices with GST verification.
-
Monitoring :
Track obligations with AP Ageing and Outstanding Bills Reports.
-
Communication :
Resolve queries and maintain supplier relationships.
-
Payment Scheduling :
Optimise cash flow with efficient scheduling and bulk payments.
-
Reconciliation & Reporting :
Ensure ledgers match supplier statements and generate oversight reports.
Client Benefits :
-
Strong vendor relationships through timely payments.
-
Full compliance with ATO requirements.
-
Clear visibility of obligations and cash requirements.
4. Cost of Goods Sold (COGS) & Inventory Management :
We help businesses track stock movements and calculate margins accurately.
Process :
-
Recording :
Track purchases, GST, and stock value.
-
COGS Calculation :
Prepare reconciled COGS reports to verify profit margins.
-
Inventory Monitoring :
Record stock movements, perform reconciliations, and flag variances.
-
Reporting :
Deliver inventory valuations and movement reports for management insights.
Client Benefits :
-
Strong vendor relationships through timely payments.
-
Full compliance with ATO requirements.
-
Clear visibility of obligations and cash requirements.
5. Payroll Services :
We manage payroll end-to-end, ensuring compliance with ATO, Fair Work, and Superannuation laws.
Process :
-
Payroll Recording :
Record earnings, PAYG, and super contributions.
-
Payslip Generation :
Issue compliant, detailed payslips.
-
Leave & HR Compliance :
Track entitlements and maintain employee documentation.
-
Termination & Finalisation :
Handle exits with accurate calculations.
-
Reporting :
Reconcile payroll with ledgers and prepare summaries.
Client Benefits :
-
Fully compliant payroll operations.
-
Timely, accurate employee payments.
-
Streamlined HR and payroll processes.
6. Bank Reconciliation :
We align financial records with bank balances for accuracy and compliance.
Process :
-
Import and record bank transactions.
-
Match ledger entries with statements.
-
Investigate and resolve discrepancies.
-
Provide reconciliation summaries for management.
Client Benefits :
-
Real-time, accurate cash position.
-
Early error detection.
-
Audit-ready reconciliation records.
7. Cash Flow Management & Budgeting :
We provide clarity on liquidity and future financial planning.
Process :
-
Record inflows/outflows and categorise activities.
-
Prepare forecasts and update regularly.
-
Develop budgets, track variances, and provide analysis reports.
Client Benefits :
-
Clear visibility of financial health.
-
Proactive management of shortfalls or surpluses.
-
Accurate budgeting aligned with business goals.
8. Comprehensive Financial Statements :
We prepare audit-ready statements in line with AASB standards.
Process :
-
Profit & Loss :
Compile revenue and expenses for accurate reporting.
-
Balance Sheet :
Summarise assets, liabilities, and equity.
-
Cash Flow Statement :
Reconcile inflows/outflows with financial activities.
-
Adjustments :
Record accruals, provisions, and reconciliations.
Client Benefits :
-
Transparent and compliant reportinghealth.
-
Clear insights into financial health.
-
Audit-ready documentation for stakeholders.
9. BAS, IAS, PAYG & SMSF Compliance :
We ensure all statutory obligations are lodged accurately and on time.
Process :
-
BAS :
Calculate GST, PAYG instalments, and reconcile with ledgers.
-
IAS :
Prepare and lodge instalments.
-
PAYG Withholding :
Report employee withholdings each pay cycle.
-
SMSF :
Manage contributions and ensure compliance with superannuation laws.
Client Benefits :
-
Reduced compliance risks and penalties.
-
Accurate, timely lodgements.
-
Transparent reporting for management review.