Get a Quote [email protected]

Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person

Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Pharmaceutical and Drug Manufacturing industry

Quality Driven Approach

QuickBooks And Xero Certified Experts

50% Reduction
In Costs

Part Time / Full Time Resources For

Starting from AUD 700 for 40 hours months
Starting from AUD 2100 for 160 hours months

Hire Remote Team

Happy Clients
1 +
Completed Projects
1 +
Hours of Experience
1 k+
Software Used
1 +

Bookkeeping software expertise

Our excellent software capabilities allow you to get the advantage of the latest bookkeeping software available in the market. Some of the bookkeeping software that we use are QuickBooks, Net Suite, Quicken, CSA, Peachtree, MYOB, Sage, Creative Solutions’ Ultra-Tax and Intuit’s Pro Series. We specialize in all of these modern cloud accounting tools.

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 Pharmacy Business in Australia

Running a pharmacy business in Australia can be both rewarding and challenging. As an owner, you are not only responsible for ensuring the health and well-being of your customers but also for managing the financial aspects of your business. Here the role of accounting and bookkeeping begins.

Whether it’s tracking revenue, monitoring expenses, or preparing tax returns, maintaining accurate financial records is crucial to the success of your pharmacy. Let’s explore the importance of bookkeeping and accounting specifically tailored to pharmacy businesses in Australia.

How to do bookkeeping and accounting for a pharmacy business in Australia

Establish a system for organizing receipts, invoices, bank statements, and payroll records to track all financial transactions.

Set up separate accounts for prescription sales, over-the-counter products, consulting services, and expenses like inventory purchases and rent payments.

Regularly reconcile bank statements with financial records to identify discrepancies and ensure accuracy.

Consider using pharmacy-specific accounting software to streamline tasks like inventory management and payroll processing while gaining insights into financial performance.

Embrace technology-driven solutions to simplify bookkeeping tasks and stay on top of financial data.

Consider outsourcing certain bookkeeping tasks or hiring a specialized offshore team for pharmacy accounting services to save time and ensure accurate handling of financial intricacies.

Stay up-to-date with financial regulations and tax requirements specific to the pharmacy industry in Australia.

Prepare regular financial reports such as profit and loss statements and balance sheets to gain insights into the pharmacy’s overall financial health.

Monitor cash flow regularly to ensure adequate liquidity for daily operations.

Keep track of pharmacy inventory and implement an efficient system for stock management.

Develop budgets and forecasts to plan for future expenses and growth opportunities.

Consult with financial advisors or accountants experienced in the pharmacy industry to ensure you’re making the most informed financial decisions.

Typical requirements in accounting for the Pharmacy Industry

Batch costing for various items – Batch costing helps to identify the cost per unit of production. Thus, it means keeping an account of costs relating to various item materials, labor, and other items of cost as applicable to the production, processing, manufacturing, or mining activities of the company.

Management reports we can provide for you. KPI we can track for the Pharma Industry:

How to do bookkeeping and accounting for a pharmacy business in Australia

Proper bookkeeping and accounting enable accurate tracking of inventory levels, ensuring that the pharmacy maintains optimal stock levels and avoids stock outs or overstocking. 

By analyzing historical financial data, pharmacy owners can create financial forecasts to anticipate future trends and plan for potential challenges or opportunities.

Bookkeeping and accounting data help in identifying areas of unnecessary expenditure, allowing pharmacy owners to allocate resources more efficiently and reduce wasteful spending.

Comparing financial performance against industry benchmarks helps pharmacy businesses assess their competitiveness and identify areas for improvement.

Well-maintained financial records play a crucial role in determining the pharmacy’s value, which is vital in case of a potential sale or partnership.

Access to accurate financial information empowers pharmacy owners during negotiations with suppliers, leading to better terms and cost savings.

Bookkeeping and accounting data can be utilized to assess the impact of employee performance on the pharmacy’s financial performance, aiding in performance evaluations and incentive programs.

By regularly reviewing financial statements, pharmacy owners can identify potential financial risks and implement measures to mitigate them.

Proper bookkeeping and accounting help manage credit terms with customers and suppliers, minimizing the risk of bad debts and optimizing cash flow.

Clear financial records facilitate a better understanding of the pharmacy’s financial capabilities, helping in evaluating expansion opportunities and securing financing.

Analyzing financial data may reveal patterns in customer buying behavior, allowing pharmacies to tailor marketing strategies and improve customer satisfaction.

How does Meru Accounting help in the Pharmacy Business?

Meru Accounting offers a structured and systematic approach to financial management, providing valuable benefits to pharmacy businesses. By following the principles of double-entry bookkeeping, Meru Accounting ensures the accuracy and reliability of financial transactions, minimizing errors and discrepancies. This accuracy provides a solid foundation for pharmacy owners to make informed decisions about their business. 

Additionally, Meru Accounting aids in improved financial visibility, allowing businesses to monitor cash flow, expenses, and revenues more effectively. Cost allocation is another advantage, as it enables precise tracking of expenses, such as inventory and operating costs, leading to a more accurate calculation of the true cost of operations and product pricing. Proper inventory management is facilitated by Meru Accounting, ensuring that pharmacy businesses maintain optimal stock levels, minimizing the risk of stockouts or overstocking. 

Moreover, adhering to Meru Accounting principles promotes compliance with financial regulations and instills transparency in record-keeping, making audits and regulatory compliance easier. This financial transparency also fosters investor and lender confidence, making it more accessible for pharmacy businesses to secure funding or partnerships. With accurate financial records and analysis, pharmacy owners can make informed decisions, plan for growth, and mitigate potential financial risks. Ultimately, Meru Accounting contributes to the long-term sustainability and success of pharmacy businesses in the competitive healthcare industry. 

Accounting for Pharmaceutical Companies

Accounting for Pharmaceutical Companies – In the pharmaceutical industry, costs attributed to manufacturing and items used for manufacturing are a major part of a company’s total expenses.

Accounting for the Pharma Industry is a specialist area that requires expertise and an understanding of the sector. Our services can help you keep track of the most important things that matter. For instance, you can stay assured about the management of payroll, credit cards, accounts payable, and accounts receivable.

We need to carry abnormal costs to another accounting period. So, for this, we need to ensure that they are not taken into the value of closing stock.

Our staff is particularly arranged and learned about this dynamic and continually evolving industry. We can also work with pharmaceutical customers who work at a medium, expansive, or independent company level. We can help you regardless of whether you need to plan for your tax returns, make your high-level employees free from random bookkeeping duties, or find the best money-saving solution for your pharmacy business.

Conclusion

In conclusion, bookkeeping and accounting are fundamental pillars for the success and growth of a pharmacy business in Australia. Adopting the principles of Meru Accounting, which emphasizes accurate record-keeping and double-entry bookkeeping, can enhance the financial management practices of the pharmacy. By partnering with Meru Accounting, pharmacy owners can gain financial visibility, optimize cash flow, and make well-informed decisions to drive their business forward. Outsourcing or utilizing offshore services and incorporating advanced accounting software, can provide a seamless and efficient approach to bookkeeping and accounting. 

Ultimately, embracing the principles of Meru Accounting, coupled with best practices in bookkeeping and accounting, empowers pharmacy businesses to navigate the complexities of the healthcare industry in Australia successfully. With a solid financial foundation and a focus on providing excellent customer care, pharmacies can thrive and ensure their long-term sustainability in this competitive landscape.

Accounting for Pharmaceutical Companies

We need to carry abnormal costs to another accounting period. So, for this, we need to ensure that they are not taken into the value of closing stock.

Our staff is particularly arranged and learned about this dynamic and continually evolving industry. We can also work with pharmaceutical customers that work at a medium, expansive, or independent company level. Regardless of whether you have to plan for tax returns, to free your high-level employees of random bookkeeping duties, or to find a money-saving solution for your business, we can help.

PHARMA INDUSTRY

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. 1. Cost-saving
  2. 2. Access to skilled and experienced professionals
  3. 3. Better management of books of accounts
  4. 4. Decreased chances of errors
  5. 5. Improve business efficiency
  6. 6. De-burdens in-office employee’s dependency
  7. 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.

What Our Clients Say
WE’RE HAPPY TO ANSWER

CONTACT US FOR ANY QUESTIONS

    Our Young and Dedicated Team

    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

    Meru Accounting

    First Month Bookkeeping Free !

      Request Call Back

      [bws_google_captcha]

        Request Call Back

        [bws_google_captcha]

        Meru Accounting

        First Month Bookkeeping Free !

        Error: Contact form not found.

        This will close in 0 seconds


        This will close in 0 seconds

        Meru Accounting

        First Month Bookkeeping Free !

          Request Call Back

          [bws_google_captcha]

            Request Call Back

            [bws_google_captcha]

            Meru Accounting

            First Month Bookkeeping Free !

            Error: Contact form not found.

            This will close in 0 seconds

            This will close in 0 seconds