Shoebooks, Australia’s leading web based bookkeeping solution for SME businesses, provides bookkeeping accounting and invoicing software solution that is ideally suitable for people operating bookkeeping and accounting businesses.
Shoebooks’ bookkeeping software enables bookkeepers to take their business accounts with them anywhere in the world for instant access is available online — all it needs is a web browser and a linked to the Internet. It is specifically designed to deliver fast results, simply and intuitively.
Shoebooks online bookkeeping software could be operated by bookkeepers as a partner or as an associate.
Shoebooks bookkeeping services is offered under 3 separate models:
1 .Hourly Rate – Pay as you Go
This service requires the client to only pay for the actual time spent on their work. Clients will receive a monthly account together with a comprehensive time report that provides a transparent method of billing Shoebooks’ services as well as a dedicated account manager is appointed for the client who will be the main contact for service delivery.
2. Prepaid Hour Blocks
This service can be purchased at a reduced rate at either 10 hours block or 20 hours block where clients will only pay for the actual time spent each month and unused hours is carried forward.
3. Fixed Price Packages
This service is offered for bookkeeping and payroll software services. Before a fixed price package is offered, Shoebooks needs to understand the clients’ bookkeeping and payroll needs so clients must contact Shoebooks for an estimate.
The following modules can be outsourced to Shoebooks:
Accounts Receivable
This module involves raising of invoices, — includes collecting and collating information on “work performed” and/or “products sold” to form the source basis of invoices; generating invoices in the accounting system; sending the physical invoices to clients whether by post or email and filing copy of invoice into Current A/R folder — receipt of payments — includes collecting and collating remittance information whether from post, bank statements, faxes, emails etc., applying customer payments to invoices and filing “Paid” into Archive A/R — and collection & customer statements — includes generating monthly customer statements, sending statements to clients, monitoring customer payments and following up on unpaid invoices and operating a collection policy with escalating reminders and follow up.
Accounts Payable (Trade Creditors)
This module is handled in two different ways: online — where customer sends unpaid bills direct to Shoebooks for entry and makes payments based upon information in Shoebooks accounting software —- and offline — where customer sends bills to Shoebooks as they are paid and then Shoebooks enters the bills when received
All payment information is securely stored in Shoebooks to allow for either EFT File creation or manual payments using BPAY, EFT or cheque.
Moreover, this module includes receipt of bills — which involves coding bills to appropriate chart account, entering bills into system per coding and filing into Current A/P folder — payment of bills — which involves performing psychical payment via cheque, c/c or direct deposit, sending remittance and mark bill with payment details, applying bill payments in the accounting system, filing “Paid” into Archive A/P folder and maintaining schedule of unpaid bills — handling enquiries from suppliers in relation to payment of their account.
Banking & Credit Cards
This module involves entering all cheques, transfers, deposits and credit card charges from source documentation not relating to A/P or A/R; coding and entering all petty cash receipts, preparing employee/contractor reimbursement statements, entering statement charges, direct entry items and interest received from bank accounts and statement charges and interest from credit cards; reconciling to monthly bank and credit card statements and generating report and creating bank matching rules to automate import of your bank statements and your credit card statements from online banking.
Payroll (and contractors)
This module involves capturing hours worked, leave taken and job cost information for employees and contractors, raising payroll and contractor payments on set schedule, remitting funds to employees, tax office, super fund and contractors, maintaining employee files and government compliance reporting and online timesheet solutions with employee login.
Month End Reconciliations and Reporting
This involves performing a monthly reconciliation of accounts payable and receivable and making provisions for any doubtful debts etc.; accruing for any accounts not yet received; reconciling any related entity and director loan accounts; performing a GST audit to ensure all transactions are treated correctly and performing a post processing checklist audit
This also involves generating the following management reports:
-Operating Budget ie Forecast Profit & Loss (format to be determined with client)
-Profit & Loss Actual – Month to Date & Year to Date.
-Profit & Loss Budget vs Actual – Month to Date & Year to Date.
-Balance Sheet – As at Current Month / Forecast Balance Sheet
-Forecast Cashflow Statement
-Key Performance Indicator Analysis report (format to be determined with client)
-Financial Ratio Analysis Report eg Debt to Equity
-Sales by Products Graphs – including Budget vs Actual
-A/P & A/R Aging Summaries with timing analysis.
-Brief Summary of the past months performance including comments on areas of interest/concern.
-Department Head Management Report
Filing and Record Keeping
This involves managing internal filing system and flow of paperwork, developing lists of “regular” documents to ensure items are not overlooked, developing and maintaining an accounting procedure manual and maintaining any customer specific forms such as employee reimbursements, timesheets, leave applications.
Government Compliance
This involves maintaining a fixed asset register and calculating monthly depreciation; preparing & lodging business activity statements, installment activity statements, year end employee obligations such as reconciliation statement & payment summaries and monthly superannuation remittance and liaising with tax accountant throughout the year and for yearend reporting.
With Shoebooks bookkeeping software business services, SME owners can frees up their time so that they can focus more on other aspects of their business.
Shoebooks Bookkeeping provides the ability to set up standard codes for your invoice line items as either products or services.
Shoebooks Bookkeeping quickly enables you to identify what your customers owe you, reducing your debtors balances. At a glance,quickly identify who you need to follow up on outstanding payments.
The advantages of the software for bookkeeping are many and include:
-Bookkeepers using Shoebooks are setup with an admin login where they can create new files and streamline access to their clients.
-Client’s company files are accessible from any computer with an internet connection which is a great advantage for mobile/onsite bookkeepers.
-No need to exchange data files with clients
-Enables you to take on clients not geographically close or continue to service existing clients that relocate or expand.
-Automatic handling of backup and data security
-Powerful user role management where clients access to the system can be controlled to match their skills and needs.
-Smart Bank Import System where matching rules can be used to automatically allocate transactions.
-Sophisticated online payroll solutions with online timesheets
-Ongoing Revenue stream from software sales to clients
-Access to migration toolkits to streamline transfer of client files from other accounting packages.
Shoebooks.com.au is a premium provider of online accounting software solutions for SME businesses in Australia. Check out Shoebooks business accounting software and experience the advantage of our bookkeeping accounting services for Australian businesses.
