Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Online retailers and E-commerce storefronts
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
Remote Bookkeeping & Accounting Services for every business Owners, Chartered Accountants, CPA firms & Bookkeepers.
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
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 Online/E-commerce Businesses in Australia
Bookkeeping and accounting are critical aspects of managing the financial side of any business, including online/e-commerce ventures in Australia. Let’s understand the necessity of bookkeeping and accounting for ecommerce businesses in Australia:
- Bookkeeping: Bookkeeping involves the systematic recording and organization of day-to-day financial transactions. It includes tasks such as tracking sales, purchases, expenses, and payments. Bookkeepers ensure that all financial data is accurately recorded in ledgers or software systems.
Bookkeeping for Online/E-commerce Businesses in Australia:
- Set up a proper bookkeeping system using accounting software tailored for e-commerce businesses or hire a qualified bookkeeper with expertise in online selling platforms.
- Track and record all business-related expenses, including inventory costs, shipping fees, advertising expenses, website maintenance fees, and incoming revenue from sales.
- Ensure compliance with record-keeping requirements mandated by the Australian Taxation Office (ATO), which typically requires keeping records for at least five years from when they were prepared or obtained.
- Accounting: Accounting goes beyond bookkeeping by analyzing the recorded financial data to gain insights into a company's financial health. Accountants use this information to create reports, perform audits, calculate taxes owed, and provide strategic advice for making informed business decisions.
Accounting for Online/E-commerce Businesses in Australia:
- Obtain a clear understanding of basic accounting principles or seek professional advice from an accountant experienced in e-commerce taxation laws to ensure compliance with reporting obligations.
- Generate financial reports tailored to the specific needs of online businesses, including Goods and Services Tax (GST) reporting, Business Activity Statements (BAS), and income tax returns.
- Utilize accounting insights to make strategic decisions that can positively impact the growth and profitability of the online/e-commerce business.
How to get started with bookkeeping and accounting for online/e-commerce businesses in Australia?
Here are the key points you’ll need to get started with bookkeeping and accounting for online/e-commerce businesses in Australia:
- Reliable Computer and Internet Access: Accounting for Ecommerce business requires a computer or device with Internet access for managing your financial records.
- Choose the Right Software: Select suitable accounting software or platforms designed for online businesses to handle your bookkeeping needs.
- Separate Business Accounts: Set up dedicated bank accounts for business transactions and obtain an Australian Business Number (ABN) if required.
- Track Incoming and Outgoing Payments: Keep records of all sales revenue from your e-commerce store and track expenses related to running the online business, such as shipping costs or advertising fees.
- Accurate Record-Keeping: Organize and retain copies of receipts and invoices for easy reference and to ensure accurate record-keeping.
- Seek Professional Advice: Consider consulting with an accountant or bookkeeper specializing in online/e-commerce businesses for expert guidance on setting up systems, tracking expenses, and staying compliant with Australian tax laws and regulations.
Accounting for E-commerce – At Meru Accounting, we help our clients to run their online business smoothly with our Ecommerce bookkeeping services. We specialize in many online platforms and payment getaways, which benefit our clients to boost their profitability. Our Ecommerce Accounting services can transform your online business.
How does Meru Accounting help e-commerce businesses with Accounting and Bookkeeping?
Are you looking for a bookkeeper for Ecommerce Business? Meru Accounting has vast experience when it comes to maintaining accounts for leading online companies and start-ups. We use software like the Shopping cart to help you create a platform for your online business and carry out further business operations. With these kinds of software, we provide exceptional Ecommerce Accounting services. We handle your sales, bank transactions, paid and unpaid orders, and even customers.
As an e-commerce seller, you may be dealing with multiple tasks. Let us ease your burden with our expert Ecommerce seller accounting services. We specialize in managing your revenue streams, expenses, and tax compliance, allowing you to focus on what you do best – growing your online business.
Online businesses are involved in huge traffic and online transactions, as there is no fixed time for a customer’s visit. Therefore, we use software that ensures a high level of security of your online transactions which is also helpful while importing the data to your accounting software. We, at Meru Accounting, manage accounting payables and receivables with the help of various add-ons. These add-ons help us track and receive & pay the due amount. So, you need not worry about getting into the cash-flow trap. With our Ecommerce Seller Accounting, we help you switch from your regular traditional accounting software to some of the leading software like Xero and Quickbooks and ensure that all your data is synced properly.
Contact us now and transform your online business in Australia with our Ecommerce Bookkeeping services.
Tips for tracking expenses and income for online/e-commerce business
Tracking expenses and income is crucial for the financial health of any online or e-commerce business. Here are some tips to help you effectively manage this aspect of your bookkeeping and accounting:
Record-keeping requirements for online/e-commerce businesses in Australia
- Maintain accurate records of all sales transactions.
- Include details such as the date of sale, customer information, product or service description, and the amount received.
- These records help track revenue over time and reconcile sales figures.
- Keep detailed records of business expenses, including sourcing products, packaging materials, shipping fees, marketing expenses, website maintenance fees, etc.
- Accurate expense records help calculate profit margins and identify cost-saving opportunities.
- Retain copies of all invoices and receipts for purchases made by the business.
- These documents serve as evidence for claiming input tax credits (if registered for GST) or deducting business expenses from taxable income.
- If your business is registered for Goods and Services Tax (GST), maintain records related to GST payments and receipts.
- Keep track of GST collected on sales and GST paid on expenses.
- If you have employees, maintain records of their employment details, including contracts, wages, and superannuation contributions.
- Prepare and retain financial statements, including balance sheets, income statements, and cash flow statements.
- These statements provide an overall view of a business’s financial condition.
- Keep records of all bank statements, including deposits, withdrawals, and other financial transactions.
- Bank records help reconcile financial data and ensure accuracy.
- Maintain records of business assets and inventory, including their acquisition, depreciation, and sales.
- These records are essential for assessing the value of assets and managing inventory levels.
- Retain all tax-related records, including income tax returns, BAS statements, and any correspondence with the Australian Taxation Office (ATO).
- Ensure all records, whether physical or electronic are securely stored and easily accessible.
- Implement backup systems to safeguard financial data and prevent data loss.
- Be aware of the specific record retention periods required by Australian tax and business laws.
- Some records may need to be kept for several years, so ensure compliance with these regulations.
Financial reporting requirements for online/e-commerce businesses in Australia
- Arrange the financial statements, including an income statement, balance sheet, and cash flow statement.
- These statements provide a snapshot of the business’s financial position and performance over a specific period.
- If your annual turnover exceeds $75,000 (or $150,000 for non-profit organizations), register for GST with the ATO.
- Submit regular Business Activity Statements (BAS) to report GST information.
- If your business sells products internationally or imports goods into Australia, comply with reporting obligations related to customs duties and international tax laws.
- Maintain comprehensive records of all transactions, including invoices, receipts, bank statements, sales data, and shipping costs.
- Accuracy in maintaining records ensures transparency and allows smooth financial reporting.
- Consider outsourcing bookkeeping tasks to ensure accuracy in financial reporting and reduce the risk of errors or omissions.
- Professional bookkeepers can help maintain compliance and keep financial records up-to-date.
- If your business involves selling physical products, maintain records of inventory levels and value for accurate financial reporting.
- If you have employees, comply with reporting obligations related to payroll, superannuation contributions, and employee taxes.
- Be aware of the required record retention periods for financial and tax-related documents as per Australian laws.
- Ensure timely submission of financial reports, BAS, and other required documents to the relevant authorities.
- If you are unsure about any financial reporting requirements, seek advice from a qualified accountant or financial advisor.
- Professional guidance will help you understand and comply with all relevant regulations.
Conclusion
In conclusion, for online and e-commerce businesses in Australia, efficient bookkeeping and accounting are essential for staying organized, compliant, and financially successful. Understanding the basics of bookkeeping and accounting involves choosing the right software or outsourcing partner, setting up a chart of accounts, diligently tracking expenses and income, keeping accurate records, and meeting financial reporting requirements. Meru Accounting, a cloud-based accounting solution, can be a game-changer for such businesses. Its user-friendly platform simplifies financial management, enabling businesses to categorize transactions accurately and track revenue, expenses, and taxes effectively.
With Meru Accounting, businesses can maintain accurate records, generate essential financial statements, and stay compliant with Goods and Services Tax (GST) reporting requirements. Whether managing bookkeeping internally or collaborating with outsourced professionals, Meru Accounting offers the necessary tools and capabilities to optimize financial processes and pave the way for growth opportunities. The platform’s data security and accessibility ensure peace of mind, allowing businesses to focus on strategic decision-making and overall financial health.
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
