Frequently Asked Questions

Understanding how we work

We try to keep it simple, and for the most part, we do! We know you have questions though, so the following exists to ‘fill in the blanks’.

Please browse through our frequently asked questions to find answers to any of your questions relating to our services or our website.

Are you registered BAS agents?

Yes. Square The Account are registered BAS agents, which means that our qualifications have been reviewed by the Australian Tax Practitioners Board, and we hold Professional Indemnity Insurance to cover our services.

Can STA look after my debt collection?

Absolutely. We will come up with a procedure to handle debtor monitoring and collection along with regular management updates. If we reach a point where the debt is uncollectable, we can refer the debt on to a trusted and respected debt collection agency.

Can I use my own software?

Yes you can. We use a wide variety of software systems and can adapt to whatever system you are using. If you are not currently using any software, we can help you find the right system for your needs. We can also host a data file for you on a range of programs that we have if that proved to be a good solution for you.

Do I need to have an accounting system before I can approach you?

No, you don’t. We can work within your current system, or we can setup a system for you from scratch that best suits your needs.

How much notice do I need to give you to meet the BAS Deadline?

The more notice the better! However, when possible we will endeavor to assist with your BAS lodgement with limited notice, right up until the day it is due. (Or even if it is overdue).

How often would I need your services?

At our first meeting, we will provide you with an estimate in hours per month of what we anticipate your needs will be. You might need our help for just a few hours at the end of each quarter to tidy everything up. Or perhaps a day or two a month because you don’t have many transactions in your business. Or you may need us to manage the entire system for you and have daily or weekly interaction with your business. We will discuss the individual needs of your business and help you find the right structure. We can also increase or decrease our involvement at any time so you only pay for our services when you need them.

I have a great Accountant and I would like to continue to use them. Is that a problem?

Not at all. We like to hear that people are happy with their Accountant. While we can provide you with accounting services, we are also more than happy to liaise with your current Accountant and perform all the preparation work for them. Hopefully, by making their job easier at tax time with up to date accounts – your accounting fees may be reduced.

Is it possible for you to invoice my clients for me?

Absolutely. We can prepare, process and send out invoices to your clients on your behalf. We can also monitor your debtors (outstanding invoices) and apply collection procedures where necessary.

The structure of our business is quite complex. Does that make outsourcing too difficult?

Not at all. We will ensure that we have a thorough handle on the processes of your entire business. We create detailed documented procedures for all tasks that we have any involvement in so that we are following the same procedure every item. We know the bookkeeping role inside and out because it is our bread and butter and we know how to make it work effectively and efficiently for your business.

What happens if I miss a BAS lodgement deadline?

The penalties for late lodgement vary depending on the size of your entity.

Small entities are liable to a penalty of $110 for every 28 days, or part thereof, that lodgement is overdue. Medium entities are liable to a penalty of $220 for every 28 days, or part thereof, that lodgement is overdue. Large entities are liable to a penalty of $550 for every 28 days, or part thereof, that lodgement is overdue.

What if we need your help on a day that you are not in our office?

You have access to our team five days per week. Even if we are not scheduled to be in your office on a particular day, we will help you to get into a system whereby you can phone or email us with your query and you know the response time. We will also develop a process for your office staff for document handling when we are not physically in your office so that the right information gets to us and can be processed efficiently.

What industries do you provide services for?

We service all industries. Our current clients include Professional Sportspeople, Musicians, an Australia-wide, member-based Association, a Social Networking Marketing Company, a Corporate Themed Events Company, a Cleaning business, a Merchandise Company, Promotions Business, Artist Managers and a Sports Media Events Agency.

I have a back log of work that needs catching up on, are you able to help me?

No problem, we can provide fast turnaround on any backlog of work. Our team members are available to untangle years of tricky accounts to get your business compliant and moving forward again.

For all other enquiries, contact us today.

5 Boyne Street

Coburg North, Victoria, 3058

+613 9355 7279

Phone Square The Account

0419 319 770

Phone Square The Account

anita.morgan@squaretheaccount.com.au

Email Square The Account

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