Bookkeeping
Let us take your headache away. The ATO has been aggressive in compliance, where several business owners have been caught out. With extensive data matching and benchmarking, ATO has instigated comprehensive business audits. Audits can be quite stressful, resulting in the deterioration of business performance and the financial penalties imposed by ATO.
We at Optima can help you be compliant, thus avoiding stressful tax audits and fines. We provide comprehensive bookkeeping service using fully compliant cloud accounting software linked with ReceiptBank, where all your GST is captured accurately, and all the receipts and invoices are stored online.
With comprehensive bookkeeping, we can provide you with live financial performance data so you can see how the business is tracking and take remedial action immediately if needed.
BAS/GST
BAS preparation is a part of business life, whether you are a sole trader or a large company.
Ensuring that your Instalment Activity Statement (IAS) and Business Activity Statements (BAS) are correct eliminates any cash flow deficiencies that can be created. Of course, timely lodgments mean no late penalties. Reconciling your books quarterly also provides a health check for your business to ensure you are heading in the right direction.
The Optima team can attend to your business and GST-related needs, including ABN and GST registration, and prepare and lodging Business or Instalment Activity Statements.
Payroll
Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO.
Large employers with 20 or more employees should now be reporting through STP or have applied to ATO for a later start date.
Small employers with 19 or fewer employees must report through STP starting 1 July 2019.
Suppose you use a solution offering STP reporting, such as payroll or accounting software. In that case, you must send your employees' tax and super information to ATO each time you run your payroll and pay your employees.
The information is required to be sent to ATO either directly from your Accounting software or through a third party – such as a sending service provider.
Here at Optima Accountants, we can help you take this headache away by setting your business up with appropriate software so every payroll run is reported to ATO accurately and promptly, thus making you compliant with the ATO.
