Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Renting Sector Leasing Services Industry
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 rental properties in Australia
Do you reside in Australia and earn rental income? Managing rental properties in Australia can be a lucrative investment, but it also comes with its fair share of financial responsibilities. From tracking income and expenses to ensuring compliance with tax regulations, bookkeeping and accounting play a crucial role in the success of your rental property business. The way it is important to know everything before making investments in rental properties, it is important to know about managing its finances.Let’s explore everything about accounting and bookkeeping for rental properties in Australia.
The key aspects of bookkeeping and accounting of rental properties in Australia
Here are the key aspects of bookkeeping and accounting in rental properties in Australia:
- You should track income on the property based on class tracking for real estate.
- It is advisable that you should maintain a separate bank account per property so that you could easily allocate the expenses to that property.
- It is advisable to update books of accounts every fortnight so that receivables can be tracked and chased timely.
- Recurring invoices should be set up so that the invoices are automatically created in the accounting system and matched with the receipts.
- Set up recurring invoices in the accounting system to automate the creation and matching of invoices with receipts.
- One should track expenses via property for each property.
- General expenses that cannot be allocated specifically to a property should be assigned on either the proportion of income, the area occupied, or any other scientific basis.
- Keep detailed records of maintenance and repair costs for each property.
- Categorize and allocate these expenses to the relevant property to track overall expenditure.
- Maintain accurate records of property-related assets and their respective depreciation schedules.
- Update depreciation calculations regularly to reflect accurate asset values.
- Identify and track tax-deductible expenses related to each property to optimize tax benefits.
- Ensure compliance with Australian tax laws regarding rental property deductions and reporting.
- Keep track of tenant payments and identify any rental arrears promptly.
- Implement a system for following up on overdue rent and managing arrears effectively.
- Conduct regular bank reconciliations to ensure all transactions are accurately recorded in the books of accounts.
- Generate regular financial reports to analyze the financial performance of each rental property.
- Use these reports to make informed decisions about property investments and future strategies.
Types of bookkeeping and accounting services for rental properties in Australia
Here are the different types of bookkeeping and accounting services for rental properties in Australia:
- Manual record-keeping of all income and expenses related to the rental property.
- It is done by using accounting software or spreadsheets.
- Provides complete control over financial records but may require more time and effort.
- Financial information is stored securely online for real-time access from anywhere.
- Often includes automated features like bank feeds, invoicing, and expense tracking.
- Offers convenience and accessibility for busy rental property owners.
- Hiring a professional service provider or virtual assistant specializing in rental property management.
- Ensures efficient management of financial tasks without taking up the landlord’s time.
- Using spreadsheets or accounting software, the management of rental property businesses can be efficiently handled.
- Opting for service providers based in countries with lower labor costs.
- Offers cost-effective solutions without compromising accuracy and professionalism.
- Suitable for landlords looking to reduce expenses while maintaining high-quality services.
- Combining different elements of the above options to create a customized approach.
- For instance, utilizing cloud-based software while outsourcing specific tasks to an offshore provider.
- Provides flexibility to tailor services according to specific business needs.
- Hiring established accounting firms with expertise in rental property management.
- Offers comprehensive services, including tax planning, compliance, and financial analysis.
- Suitable for larger rental property portfolios with complex financial requirements.
Types of bookkeeping and accounting services for rental properties in Australia
- Ability to manage apartments condominiums, cooperatives, homeowner associations, residential properties
- Ability to operate in a Cloud environment
- Collect rent online
- Automatic invoicing
- Listing management
- Alerts for software
- Expense management
- Vacancy Tracking
- Maintenance of task
How to choose the right bookkeeping and accounting service for your rental property business?
Here are 5 key points to consider when choosing the right bookkeeping and accounting service for your rental property business in Australia:
- Specialization in Rental Property Management: Opt for a service that specializes in handling rental properties to ensure they have the expertise and understanding of the unique financial aspects involved, such as rental income, expenses, and tax implications.
- Scale and Complexity of Your Business: Evaluate the size of your rental property portfolio and the complexity of financial transactions. Choose a service that can efficiently handle your business's volume and specific accounting needs.
- Customer Reviews and Feedback: Check reviews and testimonials from other rental property owners who have used the service. Positive feedback can provide valuable insights into the provider's reliability, accuracy, and customer satisfaction.
- Data Security and Privacy: Ensure the service provider prioritizes data security and privacy. Look for measures like encryption, secure servers, and confidentiality agreements to protect your financial information.
- Communication and Responsiveness: Assess the provider's communication channels and response times to address your queries and concerns promptly. A reliable and accessible service can be crucial in resolving issues and maintaining smooth financial management.
Meru Accounting for Rental Properties
India’s leading bookkeeping and consultant firm has made it easier for you. We track your rental property or business regularly and manage them on your behalf effectively.
- Profit Margins in the rental business can be quite challenging whether it is a machine rental business or a property rental business.
- However, a Rental business can be a highly profitable business if one adequately amortizes the capital cost against the receipts.
- We at Meru Accounting provide reporting for a rental business to help you analyze revenue per working hour of the machine.
- We at Meru Accounting provide reporting for a rental business to help you analyze revenue per working hour of the machine.
- We at Meru Accounting can help you plan and budget your revenue based on various inputs and can let you know whether the machine can be worth investing in your rental business.
Conclusion
In today’s fast-paced world, managing rental properties in Australia can be challenging, but efficient bookkeeping and accounting practices are essential for long-term success. At Meru Accounting, we understand the unique needs of rental property businesses and offer comprehensive accounting services tailored to the real estate industry. By choosing Meru Accounting for your rental property business, you can benefit from our cost-effective solutions without compromising quality or security. Our offshore outsourcing services provide a seamless and efficient way to handle your bookkeeping and accounting needs, allowing you to focus on growing your real estate investments.
Proper record-keeping is at the core of our services, ensuring that you have up-to-date financial data to make well-informed decisions. With our robust bookkeeping system, you can identify trends, optimize costs, and maximize profits from your property investments in Australia. At Meru Accounting, we pride ourselves on delivering accurate financial reporting, enabling you to track income, expenses, and cash flow efficiently. Our comprehensive approach ensures that you stay compliant with tax laws and franchise agreements, mitigating the risk of financial losses and legal issues. Choose Meru Accounting for your rental property business and experience the benefits of efficient bookkeeping and accounting practices that drive growth and profitability in the ever-evolving real estate landscape.
Accounting for Rental Properties - Meru Accounting
India’s leading bookkeeping and consultant firm has made it easier for you. We track your rental property or business regularly and manage them on your behalf effectively.
- Profit Margins in the rental business can be quite challenging whether it is a machine rental business or a property rental business.
- However, Rental business can be a highly profitable business if one adequately amortizes the capital cost against the receipts.
- We at Meru accounting provide reporting for a rental business to help you analyze revenue per working hour of the machine.
- We at Meru Accounting can help you plan and budget your revenue based on various inputs and can let you know whether the machine can be worth investing in your rental business.
Tracking of income per property.
You should track income on the property based on class tracking for real estate.
It is advisable that you should maintain a separate bank account per property so that you could easily allocate the expenses to that property.
Regular updating of books of accounts
It is advisable to update books of accounts every fortnight so that receivables can be tracked and chased timely.
Recurring invoices should be set up so that the invoices are automatically created in the accounting system and matched with the receipts.
Tracking of Expenses via Property
- One should track expenses via property for each property.
- General expenses that cannot be allocated specifically to a property should be assigned on either of the proportion of income, the area occupied or any other scientific basis.
TFeatures that you should look into while selecting an accounting software
- Ability to manage apartments, commercial properties, condominiums, cooperatives, homeowner associations, residential properties etc.
- Ability to operate in Cloud environment
- Collect rent online
- Automatic invoicing
- Listing management
- Alerts for software
- Expense management
- Vacancy Tracking
- Maintenance of task
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
