At Figureworks Bookkeeping, we understand that every business has unique bookkeeping needs. That’s why we create tailored bookkeeping systems that streamline financial management, ensuring accuracy, efficiency, and compliance. Our goal is to provide you with a system that works seamlessly for your business, whether you choose to manage it yourself or have us handle it for you.
Our Process: How We Build Your Bookkeeping System
1. Initial Consultation & Xero File Review
We begin with a meeting to understand your business and its financial processes. Since we exclusively use Xero, we conduct a thorough review of your Xero file to assess the current state of your bookkeeping. This step allows us to identify which bookkeeping tasks are required and how we can optimise your file.
2. Understanding Your Business Needs
Beyond reviewing your Xero file, we take the time to get to know you and your business. We gather information on your operations, bookkeeping challenges, and pain points. This deep dive helps us create a system that not only keeps your records in order but also improves financial clarity and efficiency.
3. Identifying the Most Efficient Processes
Once we have a clear picture of your bookkeeping requirements, we work through your Xero file to determine the best way to manage financial tasks. Our focus is on improving efficiency, accuracy, and compliance. If necessary, we integrate additional software to further streamline financial management.
4. Implementation & System Setup
After identifying the optimal bookkeeping structure, we set up all necessary processes and workflows within Xero and any integrated software. This step ensures that your financial data is organised, categorised correctly, and ready for seamless reporting and lodgement.
5. Training & Ongoing Support
Once your bookkeeping system is in place, you have two options:
- Training and handover- If you prefer to manage your own bookkeeping, we provide hands-on training and ongoing support to ensure you and your team can confidently use the system.
- Ongoing management – If you’d rather focus on running your business, we can take care of your bookkeeping, ensuring everything is updated, reconciled, and compliant on an ongoing basis.
The Advantages of a Professional Bookkeeping System
A well-structured bookkeeping system is essential for business success. Here’s what you gain when you partner with Figureworks Bookkeeping:
- Time savings – A professional, customised system significantly reduces the time spent managing your financial records, allowing you to focus on business growth.
- Accurate data and reports- With properly allocated transactions and reconciliations, you’ll have reliable financial reports for better decision-making.
- Lower accounting costs – By maintaining accurate records, you reduce the need for costly accounting amendments, saving money on tax preparation and compliance.
- Compliant IAS and BAS lodgement- Our system ensures all necessary financial data is recorded correctly, reducing errors and ensuring smooth lodgement of IAS and BAS statements.
