Challenge
GK Travel & Cruise initially approached Figureworks Bookkeeping with uncertainty about the accuracy of their existing Xero file. Upon detailed examination, we identified critical errors in the file setup, including incorrect inclusion of Trust accounts and misalignment between their Xero file and Cross Check Travel, the travel management software they use to track sales and purchases.
Our Approach
Figureworks Bookkeeping collaborated closely with GK Travel & Cruise’s accountants to resolve these critical issues and to ensure the accuracy and compliance of financial data moving forward.
Key Actions Included:
Correcting the Xero File
We methodically removed incorrectly included Trust accounts, restoring the integrity and accuracy of the financial data within Xero, ensuring compliance with accounting and taxation standards.
Cross Check Travel Integration
We introduced quarterly manual journals using the Trial Balance from Cross Check Travel, accurately accounting for sales, purchases, and GST. This meticulous process ensured the Cross Check Travel Clearing account consistently balanced.
Comprehensive Payroll & Leave Management
Figureworks Bookkeeping assisted with payroll processing, including the accurate entry of staff leave records and ensuring compliance with employment regulations.
Quarterly BAS Lodgments & Year-End Adjustments
Our team managed the timely preparation and submission of quarterly BAS statements, alongside completing necessary year-end journal entries to ensure compliance and accuracy.
Collaboration with Financial Planners
Figureworks Bookkeeping now fully manages the ongoing financial allocations, provides regular checks, and maintains the integration between Xero and Cross Check Travel, ensuring accurate and timely financial data.
Outcome
GK Travel & Cruise now benefits from a fully integrated, accurate, and compliant bookkeeping system tailored specifically to their needs as a travel agency. Our detailed approach has significantly improved their financial clarity and reliability, enabling confident decision-making and peace of mind.
“Partnering with Figureworks Bookkeeping transformed our financial management, ensuring accuracy and compliance in every aspect of our business. Their meticulous approach and Xero expertise have been invaluable. We couldn’t recommend their services more highly!” – GK Travel & Cruise (Knox Travel Designers)
