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Bookkeeping
- Processing + Paying Wages (then reporting Single Touch Payroll to ATO – see Tax below) Pays are processed on a Tuesday for all employees.
- Managing employee entitlements (annual leave, sick leave etc) & setting up new employees in MYOB & termination payouts Recording invoices + Paying Creditors – Weekly
- Entering Debtors invoices – people owing money to the business, debtors are paid weekly on a Friday. There may also be urgent payments required to be paid prior to this during the week. All debtor invoices are sent to them on a Monday for the week prior from entry.
- Reporting sales – reconciling sales to sales report each month, providing breakdown between Bar sales, food sales, disc & coupons, special promotions, under/overs, supplier rebates + CC surcharge etc & also providing similar breakdown for cost of sales/ purchases.
- Insurance breakdown – group insurance bill split between the various businesses (once a year)
- Bank reconciliations + processing bank transactions regularly
- Reconciling certain other accounts such as electronic clearing accounts, tills/ cash registers, sales deposits and other clearing accounts etc.
Tax
- Important will need access to the Australian Taxation Office Business Online Services for each entity to perform below tax duties + will also need access to the Queensland Revenue Office to report + pay payroll tax – Cyber security very important particularly for the employees’s privacy.
- Single Touch Payroll/ STP – submitted each week to the ATO when wages paid to employees + Annual STP finalisation (Annual Income Statements for employees)
- Monthly Activity Statements – reporting monthly wages + employee tax to ATO (we do the quarterly activity statements GST+Wages)
- Payroll Tax – once registered (will request 6 monthly reporting, however OSR will decide if they want monthly reporting or 6 monthly reporting)
- Super Stream – reporting super + paying super for employees + subcontractors (if applicable)
- Paying ATO bills + co-ordinating ATO payment plans if necessary
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