Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Real Estate Development Business and Construction Companies
Quality Driven Approach
QuickBooks And Xero Certified Experts
50% Reduction
In Costs
Part Time / Full Time Resources For
- CPA Firms
- Bookkeeping Firms
- Business Owners & Startup Companies
Starting from AUD 700 for 40 hours months
Starting from AUD 2100 for 160 hours months
Hire Remote Team
Bookkeeping software expertise
saasu
intuit QuickBooks
netsuite
wave
Freshbooks
odoo
Xero Gold Partner
zoho books
simply accounting by sage
yendo
Our Services
We are a group of professionals who offer accounting and bookkeeping services to our clientele across the AU. We offer standard as well as tailored accounting and bookkeeping solutions based on the specific requirements of our clients, ensuring them the best results with our services.
Setting up Xero/Quickbooks
Fill out our checklist to complete the Setup of your Cloud Software in a day. We provide step by step guidance.
Day to Day Bookkeeping
We will ensure that your books are upto date on the daily/weekly basis so you can stay on top of the Financial position.
Year End Finalisation
We shall provide you complete Financials which can easily be used in preparation and completing Corporate Tax Return.
Payroll Setup and Processing
This covers filing your Payroll through Single Touch Payroll system, TFN Declaration, Superannuation Return filing, Installment Activity Statement filing & PAYG Calculations.
GST in Australia
We shall reconcile your GST input Credit account and Output liability account.
Monthly Management Reports
We provide customized reports based upon client requirement. (Sales Perfomance, KPI’s, Overheads reporting, etc)
Bookkeeping for CPA's
We provide end to end bookkeeping solutions for CPA’s and bookkeepers in the AU.
BAS Returns
We deal with BAS very closely for our clients to ensure that GST claim is correctly calculated and Submitted Timely.
Annual Company Tax Return
We shall do your Individual & company Tax filing through your ATO login.
Why are we the 1st choice of AU Businesses for Accounting & Tax Return Preparation
Reduce 50% in Current Costs
You will see a Cost reduction of at least 40-50% as compared to local Bookkeeper or Accountant.
Self Hosted PMS
Our standardized processes and decent Project Management system helps to communicate with you clearly and efficiently.
Faster Turnaround
We generally reply to every emails same day or within maximum 24 hours.
Starting from
US $10 Per Hour Bookkeeping service
Detailed & Regular Work Updates
We send emails that carry all the necessary information you need to carry out business operations.
Monthly Meetings with CPA
We conduct monthly meetings with CPA’s for effective communication and understanding client needs.
Meeting Deadlines
We finish all our work prior to deadlines to prevent any kind of chaos during finalization. .
Detailed Checklists
We prepare a well-defined checklist of all the requirements for you so that you don’t have any confusion.
High Quality of Work
Our Standardized Procedures and Checklists will ensure error free work. .
Cloud AddOns Expertise
Hubdoc
With Hubdoc, you can automatically import all your financial documents & export them into data you can use.
Gusto
Gusto offers fully integrated online payroll services that includes HR, benefits, and everything else you need for your business.
Spotlight Reporting
Attractive performance reports quickly and efficiently. Ideal for organizations that need deeper insight and analysis.
Receipt Bank
Receipt Bank converts those annoying bits of paper – receipts and invoices – into Xero data!
AutoEntry
AutoEntry captures, analyses and posts invoices, receipts and statements into your accounting solution.
Shopify
Connect Shopify and Xero to effectively manage your online sales, inventory and accounting requirements.
Bookkeeping and Accounting for the Construction Business in Australia
Running a construction business in Australia can be both exciting and challenging. One of the most challenging parts in this industry is accounting for construction projects. Staying organized and on top of your finances is crucial with so many moving parts. This is where the role of bookkeeping and accounting arises. Whether you’re a small contractor or a large construction company, keeping track of your income, expenses, and financial health is essential for long-term success.
Bookkeeping for construction is very essential as there are many different types of businesses involved in this industry. Accounting for construction company or bookkeeping for contractors within the industry are equally important. Let’s see the benefits of implementing solid financial practices, as well as how to get started with bookkeeping and accounting for your construction venture in Australia.
What is bookkeeping and accounting?
Bookkeeping
- Involves systematic recording and organization of financial transactions.
- Focuses on maintaining accurate records of income, expenses, invoices, and receipts.
- Ensures proper categorization and recording of transactions in ledgers or accounting software.
- Provides a detailed and comprehensive record of day-to-day financial activities.
- Helps track cash flow, outstanding payments, and expenses effectively.
- Forms the foundation for accounting processes and financial analysis.
- Managed by bookkeepers who specialize in accurate data entry and organization.
Accounting
- Takes bookkeeping data and analyzes and interprets it for financial reporting.
- Involves generating financial reports such as balance sheets, profit and loss statements, and cash flow statements.
- Provides valuable insights into a construction business's overall financial health and performance.
- Utilizes accounting principles and standards to ensure accurate and consistent reporting.
- Helps with decision-making by identifying areas for improvement or cost-saving opportunities.
- Involves financial forecasting and budgeting based on historical data and market trends.
- Managed by accountants who possess a deeper understanding of financial analysis and strategic planning.
The different types of construction businesses in Australia
- General Contractors: These companies oversee and manage all aspects of construction projects, from planning to completion, and often work on larger-scale commercial and infrastructure projects.
- Specialized Tradespeople: These professionals focus on specific areas of construction, such as electrical contractors handling electrical installations and wiring, and plumbing contractors responsible for plumbing tasks.
- Subcontractors: Many construction businesses operate as subcontractors, working on specific parts of a project contracted by the general contractor. They provide specialized services to complement the overall construction process.
- Green Building Specialists: These businesses focus on sustainable construction practices, incorporating eco-friendly materials and energy-efficient designs to reduce environmental impact.
- Heritage Restoration Experts: This type of construction business specializes in restoring and preserving historical structures, ensuring their historical and architectural significance is maintained.
- Custom Home Builders: These businesses create unique, tailor-made homes for individual clients, accommodating specific design preferences and functional requirements.
- Commercial Builders: Commercial construction companies specialize in building structures for business and commercial purposes, such as offices, retail spaces, and industrial facilities.
- Residential Renovation Specialists: These businesses focus on renovating and remodeling existing residential properties, providing modern upgrades and enhancements to meet clients' needs.
- Road and Infrastructure Contractors: These companies undertake construction projects related to roadways, bridges, highways, and other infrastructure developments to improve transportation and connectivity.
- Prefabricated Building Manufacturers: Prefabricated construction businesses produce building components off-site, which are then assembled on-site, offering efficient and cost-effective construction solutions.
The diverse array of construction businesses in Australia reflects the vibrant and dynamic nature of the industry, ensuring that all construction needs, from large-scale commercial projects to niche specialty tasks, are met efficiently and professionally.
The benefits of Bookkeeping and Accounting for construction businesses
Proper bookkeeping and accounting provide construction businesses with a clear view of their cash flow, helping them make informed decisions about budgeting and investments.
Construction businesses in Australia have specific tax regulations to follow, and bookkeeping ensures accurate recording and categorization of transactions for smooth tax reporting.
By tracking revenues and expenses for each project separately, bookkeeping helps identify the most profitable projects and informs future decision-making.
Organized records of invoices, receipts, and payments saved time on reconciling accounts and handling client inquiries, streamlining day-to-day operations.
Outsourcing bookkeeping to construction industry specialists allows businesses to focus on core activities while ensuring accuracy and compliance in financial management.
Busy construction business owners can benefit from saving time and effort by delegating bookkeeping tasks to professionals.
Professional bookkeeping services provide construction businesses with reliable financial data for strategic decision-making and performance evaluation.
Accurate bookkeeping ensures construction businesses comply with legal obligations, including GST reporting requirements and financial statement preparation.
With organized financial data, construction businesses can identify opportunities for growth and expansion, knowing their financial health is stable.
Having proper bookkeeping and accounting in place gives construction business owners peace of mind, knowing that their finances are in order, and they are well-prepared for any financial challenges or opportunities that arise.
How to get started with bookkeeping and accounting for construction businesses
Starting bookkeeping and accounting for your construction business may seem like a challenging task, but with the right approach, it can be easily managed.
- Organize your financial documents: Gather all relevant paperwork such as invoices, receipts, and bank statements. Keep them in separate folders or use digital tools to maintain a systematic record.
- Choose the right accounting software: Look for software specifically designed for the construction industry that can handle job costing, project management, and payroll tracking. This will make managing your finances much more efficient.
- Set up a chart of accounts: Create categories to track income and expenses specific to your construction business. This will provide clarity when analyzing financial reports.
- Track time and expenses accurately: Use time-tracking systems to monitor labor costs on projects and keep detailed records of any materials purchased or subcontractor payments made.
- Reconcile regularly: Regularly reconcile your bank accounts with your financial records to identify any inconsistencies or errors that need correcting.
Xero's Accounting for the Construction industry differs from that in other industries
Xero Accounting for Construction – A normal industry follows stereotypical accounting methods and they work for them. But, for the construction industry, the scenario is vividly different. In the construction business, people work at new locations and work is different from regular terms. Different factors affect cost in the construction business like travel time, packing of tools and equipment, and delivery of materials at the job sites, which are all variable. In a construction business, the accounting method counts revenue based on the profit estimation and what percentage of the project is completed. This method is the Percentage of completion method.
So overall accounting for a construction business is quite complex and unique. This is so because it has to accurately track all the expenses, costs, and income for all the job sites.
Xero Addon for Construction Industry: Workflow Max Benefits
- We can have separate projects in Workflow max.
- We can have various tasks in that.
- In each task, we can assign the Cost and Profit.
- We can assign tasks to each of the team members.
- It automatically creates invoices in a single click.
- We can convert the cost of WIP into the Sales Invoice automatically.
- We can have the Budgeted flow automatically from Xero.
- It can automatically convert purchase orders to a bill in Xero instead of Duplicate Data entry.
- We can assign margins in the form of the cost.
- We will be able to have Tracking of Profits for individual projects in Workflow Max.
- You will have all the project’s performance on your Dashboard of Workflow max.
How can Meru Accounting help you with that?
There are many construction accounting firms in the market. We at Meru Accounting have specialization in accounting for the construction industry, house flipping business, and turnkey project accounting. We understand the different requirements that a construction business needs and tailor our construction accounting services accordingly. At Meru Accounting, we track, manage, report, and categorize our client’s costs and expenses. This ultimately helps our clients to know which project to opt for, and which bid can turn out profitable. With our construction bookkeeping services, they also get to know how to manage the billing procedures and how to use resources to get the maximum return on investments.
Bookkeeping for construction in Australia can be complicated. Meru Accounting’s construction bookkeeping services provide the financial backbone that construction companies need to thrive. Our experts understand the unique challenges faced by contractors, subcontractors, and other businesses within the industry. We track our client’s expenses and cost per property by using class tracking or tracking categories in software like Xero, QuickBooks, etc. We also build a dashboard of different categories so that our clients can also track various expenses and costs from different construction sites. That saves the valuable time of our clients and is very easy for them. We do the bookwork so that our clients can focus on their construction fieldwork with no worries.
Conclusion
Bookkeeping and accounting for construction company in Australia are the basis of its financial success. Accounting for construction projects can be a challenging task. Meru Accounting is here to support and elevate your business to new heights with construction bookkeeping services and bookkeeping for contractors. What sets us apart from the other construction accounting firms is our expertise and experience in the construction industry accounting. We understand the unique challenges you face and provide tailored solutions that align with your specific needs. By entrusting your bookkeeping and accounting to Meru Accounting, you can rest assured that your financial records will be carefully managed, giving you a clear picture of your construction business’s financial health.
Our construction accounting services can help you track expenses, manage cash flow, and ensure compliance with tax regulations, allowing you to focus on what you do best – delivering exceptional construction projects. Outsourcing bookkeeping for construction companies to Meru Accounting offers more than just financial precision. It provides you with a strategic advantage and its timely and accurate reporting empowers you to make informed business decisions, seize growth opportunities, and optimize profitability. Let Meru Accounting be your trusted partner in building a strong financial foundation for your construction business.
Hiring Virtual Accountant With Meru Accounting
Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.
We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.
Help you with switching from your traditional software to Xero and Quickbooks.
We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.
When you choose to outsource your accounting work with us, it benefits you in the following ways:
- 1. Cost-saving
- 2. Access to skilled and experienced professionals
- 3. Better management of books of accounts
- 4. Decreased chances of errors
- 5. Improve business efficiency
- 6. De-burdens in-office employee’s dependency
- 7. Better turnaround time
We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.
Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.
Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
- Cyberoam Firewall to prevent any kind of foreign threat.
- Dual-step authentication
- Implement anti-virus
- Limit user access so that login details are with a few people.
Meru Accounting work on some of the best accounting software’s like:
- Xero
- Quickbooks
- Netsuite
- Saasu
- Wave
- Odoo
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.
To book for trial, call us on our numbers or Please fill out the form here.
Our Work Information
We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.
Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.
BAS is generally required to be filed quarterly by various businesses.
Bookkeeping for CPA(s)
Certified public accountants or CPAs are known as backbones of a business firm. They help a business to survive and stand in the market. They are financial experts. Their stronghold at accounting, taxation, and finance makes them feel that they don’t require any bookkeeping service to keep a check on all the updates and paperwork.
CPA(s) are very knowledgeable. But spending their time in compilation and updation of paperwork is not a part of their job. They can efficiently invest this time in looking up for new clients and strengthening of already made tie-ups with multiple business firms. CPA(s) often live under the misunderstanding that they need not hire a professional and invest extra money on bookkeeping.
This is an actual myth these days. Having a personalized bookkeeping service improvises the accountant’s productivity. Your work gets more organized and stays updated. Outsourcing accountant experts are well updated with all the latest technologies that are needed to thrive in the industry.
As an accountant, you shall have peace of mind if you know that your accounting processes are in safe hands. Your data is being accessed using the latest technologies. This becomes a major strength when your motto is to work with the maximum no. of clients.
A good bookkeeping service will know about software like Freshbooks, SageOne, Wave, Xero, Quickbooks, etc. When your accounts are with an expert, who is not just mending for paperwork, you are good to go. All these benefits prove the need for bookkeeping for a CPA’s growth and easy work processing.
The acronym CPA stands for Certified Public Accountants. A CPA is a certification issued by the American Institute of Certified Public Accountant (AICPA). A person certified as CPA acts as a financial advisor with a high degree of knowledge and experience in the field of accountancy. This certification is mostly preferred by the CA, CS, MBA Cost accountant, financial advisors for professional recognition.
CFA stands for Certified Financial Analyst certified by CFA institute whereas CPA stands for Certified Public Accountant certified by AICPA. The purpose CFA is to analyses different financial option and provides investments options to the key financial planner and upper management of investment companies, whereas CPA is trained accountant professional who assists in various accounting service and taxation. We can say CFA act as financial analyst whereas the role of the CPA is of a facilitator of the accounting process.
If an individual, business, firm, or organization needs help for the preparation of tax, they should hire a CPA. If they need assistance for financial planning and investment, then should hire a CFA.
The three E(s) of CPA are Education, Examination and Experience. These 3 E(s) are necessary to get licenses for CPA. Only passing out examination doesn’t make you eligible for a CPA license, you need to meet sufficient requirements to get a license. Contact to this site for more details https://www.aicpa.org/becomeacpa/cpaexam.html
An individual, business, or any organization needs assistance in finance, accounting and business require a CPA. A qualified CPA provides professional expertise and advice to your business.
CONTACT US FOR ANY QUESTIONS
Our Office Address
AU Office
Level 8/350 Collins Street, Melbourne VIC 3000, Australia
902, Shivalik Tower, Nr. Panchvati Cross Roads, Ahmedabad, Gujarat 380009, India
