Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Energy and Infrastructure Development Business
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.
Accounting and Bookkeeping for Power and Infrastructure Industry in Australia
In the modern landscape of Australia’s dynamic power and infrastructure sector, accounting and bookkeeping play important roles in ensuring financial transparency, regulatory compliance, and efficient operational management. The complex or difficult nature of this industry necessitates sophisticated financial strategies and practices. As such, this text delves into the core aspects, requirements, and specialized services offered by Meru Accounting, tailored specifically for the accounting and bookkeeping needs of Australia’s power and infrastructure domain.
Core Aspects of Accounting and Bookkeeping in the Power and Infrastructure Industry In Australia
The power and infrastructure industry plays an important role in shaping the economic landscape of Australia. As this industry involves significant investments, complex projects, and regulatory compliance, robust accounting and bookkeeping practices are essential for its sustained growth and success. Here are some key elements of accounting and bookkeeping relevant to the power and infrastructure sector in Australia:
- Project Cost Tracking and Allocation: The power and infrastructure industry often undertakes large-scale projects that require careful or accurate cost tracking and allocation. Proper accounting practices involve creating detailed budgets, estimating costs accurately, and tracking expenses throughout the project lifecycle. Given the scope and duration of these projects, cost overruns can have a substantial impact. Maintaining accurate records of expenditures, labor costs, materials, and equipment expenses is crucial for assessing project profitability and making informed financial decisions.
- Revenue Recognition: Revenue recognition in the power and infrastructure sector is often complex due to the long-term nature of contracts and projects. It's crucial to follow the Australian Accounting Standards to determine when revenue can be recognized.
- Depreciation and Asset Management: The power and infrastructure industry heavily relies on various assets, such as power plants, transmission lines, and equipment, which have long life cycles. Properly managing and depreciating these assets is essential for accurate financial reporting.
- Regulatory Compliance and Reporting: The power and infrastructure industry is subject to stringent regulatory frameworks and reporting requirements. Companies must adhere to industry-specific regulations, environmental standards, and safety guidelines.
- Taxation and Incentives: Taxation is a critical aspect of accounting in any industry, and the power and infrastructure sector is no exception. Companies need to navigate complex tax codes, claim eligible deductions, and take advantage of available incentives, such as tax credits for renewable energy projects. Proper tax planning and compliance are essential to optimize the company's tax position while ensuring adherence to legal requirements.
- Foreign Currency and International Operations: Many players in the Australian power and infrastructure industry operate internationally, either through partnerships, joint ventures, or direct investments. Dealing with foreign currencies and managing exchange rate fluctuations can significantly impact financial performance. Proper bookkeeping should include mechanisms to accurately convert and record transactions in different currencies, as well as manage potential currency risks.
- Financial Risk Management: The power and infrastructure industry involves substantial financial risks, including market price volatility, regulatory changes, and project delays. Effective accounting practices should incorporate risk assessment and management strategies.
- Environmental and Sustainability Reporting: In recent years, environmental and sustainability considerations have gained prominence in the power and infrastructure sector. Companies are under increasing pressure to disclose their environmental impacts and efforts towards sustainability. Effective accounting should incorporate mechanisms to track and report on carbon emissions, energy efficiency initiatives, and compliance with environmental regulations.
- Technology Integration: Modern accounting and bookkeeping practices in the power and infrastructure industry involve the integration of technology solutions. Cloud-based accounting software, data analytics tools, and enterprise resource planning (ERP) systems can streamline financial processes, enhance accuracy, and provide real-time insights for decision-making.
- Audit and Assurance: Given the complexity of the power and infrastructure sector, regular audits play a vital role in maintaining the integrity of financial information. External audits provide an independent assessment of a company's financial statements and internal controls. Adhering to audit requirements ensures transparency and accountability to stakeholders.
- Payroll management: With the gigantic size that these industries possess, the size of the workforce is also large. To manage their payroll and to ensure that it works smoothly, we at Meru Accounting take care of this part effectively. With the proper expertise in accounting software, we provide our clients with the most efficient and easy solution to pay out the employees and site workers.
Requirements of Accounting and Bookkeeping in the Power and Infrastructure Industry In Australia
Accounting and bookkeeping in the power and infrastructure industry in Australia, like in any other sector, are essential for maintaining accurate financial records. Here are some key requirements for accounting and bookkeeping in this industry:
The power and infrastructure industry typically follows accrual accounting, where transactions are recorded when they are incurred, not when the cash is exchanged. This method provides a more accurate representation of the financial health of the business.
The industry is subject to various regulations and standards, including those set by the Australian Accounting Standards Board (AASB) and the Australian Securities and Investments Commission (ASIC). Compliance with these standards is crucial for accurate reporting.
Given the large-scale projects in this industry, tracking costs accurately is essential. Differentiate between direct and indirect costs and allocate them to specific projects or activities to measure profitability accurately.
Many projects in the power and infrastructure industry have long durations and involve multiple phases. Implement project accounting methodologies to track costs, revenues, and progress on individual projects. This helps in assessing project profitability and managing budgets effectively.
The industry is subject to various tax regulations. Proper tax planning and compliance are essential to manage tax liabilities effectively. Making provisions for taxes is an important part of a business. Each industry has different tax requirements and attracts different taxes. So, for a firm getting sound knowledge of taxation is necessary, but it consumes a lot of time. Understanding this, we at Meru Accounting provide taxation-related information according to both the industry sector as well as the country of location.
Prepare accurate financial statements, including the income statement, balance sheet, and cash flow statement, to provide a clear picture of the company’s financial performance and position.
Establish strong internal controls to prevent errors, fraud, and misstatements in financial records. This is especially important given the large-scale nature of the industry’s operations.
Utilize specialized accounting and bookkeeping software tailored to the industry’s needs. This can streamline processes, improve accuracy, and facilitate reporting.
The industry often involves complex contracts. Properly account for contract terms, revenue recognition, and expenses related to contract performance.
The power and infrastructure industry may have to account for environmental costs and comply with environmental regulations. Ensure that these factors are adequately considered in financial reporting.
Bookkeeping for Power Industries – Power and infrastructure industries are very large and in a way, the function tends to be extensive. The machinery and inventory being used in the projects are huge in numbers and thus it requires subtle planning. We understand these requirements and Bookkeeping for the Power and Infrastructure Industry thus provide our clients with monthly or quarterly financial analyses and so they can achieve their financial goals.
The Energy Industry and the Infrastructure industry, both are major players in a country’s development and that’s why taxation, policies, etc. tend to change as per Governments’ decisions. Besides that, these industries also attract uncertainties related to prices of raw materials, government norms, and political and economic pressure. True that we cannot avoid these uncertainties, but definitely can be reduced to a level. Our team of professional experts prepares accurate financial analysis that can help your firm survive in future uncertainties.
Through our accurate accounting management services, our clients get an overview of performing their business; from payments to receivables, we consider all of them. A good overview, of course, helps our clients to make future projections for their firm’s performance and financial viability.
Meru Accounting's Specialized Services for the Power and Infrastructure Industry
Conclusion
In Australia’s power and infrastructure industry, accounting and bookkeeping are more than just administrative tasks. They are crucial for financial stability and operational efficiency. Every industry has its unique needs, so it is important to use advanced methods for managing money, reducing risks, and following rules. In the complex world of power and infrastructure, where amazing engineering meets money matters, being good at handling money is important.
Meru Accounting is specialized in managing finances for the power and infrastructure industry in Australia. We’re experts at keeping track of money and making sure it’s all organized. We make sure the money part not only makes sense but also helps the whole industry grow in a good way. Leave the financial management on Meru Accounting and spend more time on developing your business more and more.
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
