Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Wholesale and Distribution Business
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.
Accounting and Bookkeeping for the Wholesale Industry in Australia
In the dynamic landscape of Australia’s wholesale industry, efficient accounting and bookkeeping practices play an important role in ensuring financial stability and sustainable growth. As wholesalers bridge the gap between manufacturers and retailers, their operations involve complex financial transactions, inventory management, and pricing strategies. Accurate and well-organized accounting and bookkeeping not only facilitate compliance with Australian taxation and reporting regulations but also provide valuable insights for informed decision-making. We will understand the fundamental significance of sound financial management within the wholesale sector, highlighting its role in optimizing cash flow, managing costs, and enhancing long-term success in a competitive market environment.
Role of Accounting and Bookkeeping for the Wholesale Industry in Australia
Accounting and bookkeeping are fundamental components of any business operation, including the wholesale industry in Australia. Accurate financial record-keeping, adherence to regulatory standards, and effective management of financial resources play an important role in sustaining and growing wholesale businesses. Let’s explore vital elements of accounting and bookkeeping customized for the wholesale sector in Australia:
- Accrual-Based Accounting: The wholesale industry relies heavily on bulk purchases and sales of goods. Accrual-based accounting is particularly suited to this sector as it records transactions when they are incurred rather than when cash changes hands.
- Inventory Management and Valuation: Inventory management is critical for wholesalers, as they hold substantial amounts of stock. Accurate valuation of inventory impacts the balance sheet, income statement, and taxes.
- GST and Tax Compliance: Goods and Services Tax (GST) is a value-added tax applied to most goods and services in Australia. Wholesale businesses are required to register for GST if their annual turnover exceeds the threshold. Maintaining careful or accurate records of GST collected and paid is essential for accurate reporting and compliance.
- Credit Management and Receivables: Wholesalers often offer credit terms to customers, leading to accounts receivable. Efficient credit management involves evaluating customer creditworthiness, establishing credit limits, and monitoring overdue accounts. Implementing an effective credit control system reduces the risk of bad debts and maintains healthy cash flow.
- Expense Tracking and Cost Allocation: Wholesale operations encompass various expenses, including procurement, transportation, warehousing, and distribution. Proper allocation of costs across different product lines or departments is crucial for accurate financial reporting.
- Foreign Currency Transactions: Wholesale businesses often engage in international trade, involving foreign currency transactions. Fluctuations in exchange rates can impact financial statements. Wholesalers should adopt appropriate accounting treatments for foreign currency transactions, adhering to the AASB guidelines.
- Technology Integration: In the digital age, technology plays an important role in accounting and bookkeeping. Wholesalers can benefit from integrated accounting software that streamlines processes such as invoicing, inventory tracking, and financial reporting. Cloud-based solutions offer accessibility and real-time collaboration, while automation reduces manual errors.
- Reporting and Analysis: Regular financial reporting and analysis provide insights into a wholesale business's performance. Key financial ratios, such as inventory turnover, gross margin, and accounts receivable turnover, offer a comprehensive view of operational efficiency and financial health.
Meru Accounting's Specialized Services for Accounting and Bookkeeping in the Wholesale Industry
Meru Accounting's Specialized Services for Accounting and Bookkeeping in the Wholesale Industry
Meru Accounting understands the unique demands of the wholesale industry and offers tailored solutions to address its financial intricacies.
Meru Accounting recognizes that a one-size-fits-all approach is inadequate for wholesale businesses. Our experts collaborate with clients to develop a chart of accounts that aligns with their specific operations. This enhances the accuracy of financial reporting and provides insights tailored to the business’s needs.
Our specialized inventory costing services empower wholesale businesses to choose the most appropriate valuation method, whether FIFO, LIFO, or others. This decision impacts financial statements and tax obligations. Meru Accounting’s in-depth understanding ensures optimal financial outcomes.
Wholesale businesses involve managing huge inventories that comprise numerous transactions among various suppliers and retailers. Thus, understanding the dynamics of this industry we at Meru Accounting use an array of accounting software that makes inventory management easy and hassle-free and our clients can focus on their business with no worry.
Navigating the complexities of international taxation requires specialized knowledge. Meru Accounting offers comprehensive international tax advisory, ensuring compliance with cross-border tax regulations. From transfer pricing to withholding taxes, our experts guide you to minimize tax exposure.
Meru Accounting goes beyond traditional bookkeeping. We provide strategic financial analysis that identifies trends, opportunities, and potential risks within the wholesale industry. Our insights enable businesses to make informed decisions that drive growth and optimize profitability.
Managing cash and its inflow is very essential and a priority for any industry. So, cash flow is a must to run a business and maintain its financial stability. Understanding this need, we at Meru Accounting provide our clients with effective cash management and cash flow management so they can grow with no hassle.
We understand the importance of payables and receivables, as we know that they can affect the cash flow of a company. That’s why we also provide the services of account payables and receivables management apart from the bookkeeping services.
The wholesale industry is widely affected by different rules and regulations as the suppliers and purchasers can be from any industry. Thus it’s very important to be aware of the nitty-gritty of various sectors as well. We have experience in dealing with the changing dynamics of this industry and thus we provide our wholesaler clients with impeccable services which in the end help their business to grow, as we believe that their growth is our growth.
We at Meru Accounting have a highly trained professional workforce to meet our clients’ requirements. We train our team of professionals to handle the accounting and reconciling tasks at different levels in the supply chain, retailers, and manufacturers, so we can provide our wholesale clients with the best of our services.
With the era of digitalization, we also offer these services to both online merchants and traditional wholesalers.
Tax filing is a must for any given industry. It takes a lot of time and effort for a company to calculate the taxes to be paid. That’s why we provide our clients with a taxation facility. Our experts effectively calculate the accurate taxes, so that our clients can concentrate on their core part without worrying about the complications of taxes.
Providing Accounting services for wholesale Business is our forte, we have experience and knowledge of bookkeeping in the wholesale industry. We also provide our wholesale clients with weekly, monthly, or annual statements as per their requirements. So, this gives them an overview of their businesses’ financial position.
Conclusion
In the progressive wholesale industry of Australia, accounting and bookkeeping form the foundation upon which successful businesses are built. From adhering to accrual basis accounting and managing inventory to navigating GST compliance and international transactions, careful financial management is a must. With Meru Accounting’s specialized services catering to the unique needs of wholesale businesses, enterprises can confidently navigate the complex financial landscape, armed with the knowledge and expertise required for sustainable growth.
If you have a wholesale business in Australia, you can easily manage your finances by outsourcing your accounting and bookkeeping to a specialized firm like Meru Accounting. We have professional experts who practice accounting and bookkeeping in almost every industry in Australia. Streamline financial management for your wholesale business by partnering with Meru Accounting now.
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
