BOOKKEEPING SET UP

Get set up right from the start, with live bank feeds, streamlined chart of accounts, and automated posting of transactions.

TAX AND COMPLIANCE

Streamline the preparation of BAS, tax returns and financial statements. As a H&R Block Bookkeeping client, you'll receive 20% off the standard individual tax return fee.

BUSINESS INSIGHT

Get real time visibility into your business financial performance and opportunities to improve (receivables, payables, pricing, costs, margins).

Benefits of investing in third party bookkeeping services

Running a small business isn’t easy. In between generating turnover, purchasing supplies and managing staff, many business owners find that the much vaunted “freedom” of running a business rather than being employed can lead to the exact opposite of freedom. Working days expand, leisure and family time disappears as weekends and evenings are spent keeping on top of the essential tasks.

On top of doing what you need to do to run the business, sometimes something has to give and often that’s looking after the accounting side of your business. But failing to stay on top of your bookkeeping can have severe repercussions. Not only can it affecting your ability to meet your GST and income tax obligations, it can also mean that you simply don’t have a firm handle on how well your business is actually performing. That’s why increasingly small businesses are seeing the benefits in contracting out their bookkeeping to a qualified bookkeeper.

Why outsource your bookkeeping to an expert?

More time. You’ll get valuable time back which can be spent doing the things you do best, like making a profit.

Expertise. Using an external bookkeeper gives you access to a qualified resource; someone who understands your reporting obligations and has technological solutions to make things easier.

Save money. Because an external bookkeeper isn’t part of your organisation you save money because you don't have to hire an employee to do it in-house.

Access to technology. Most small businesses can’t afford state of the art bookkeeping technology. With H&R Block, you'll get access to the latest cloud based software - Xero. This gives you real time visibility into your financial performance as well as streamlining the preparation of BAS, tax returns and financial statements.

Tax considerations for new businesses

So, you’re setting up a new business and you need to know the tax implications. The first question you’ll need to consider is what structure to use. Do you form a company, or maybe a trust or do you simply set yourself up as a sole trader?

It helps to know the difference between each business structure. Read about business structures, registrations you may need and tax breaks.

Work with a bookkeeper near you

Increasingly small businesses are seeing the benefits in contracting out their bookkeeping to a qualified bookkeeper. H&R Block has bookkeepers in Sydney, Melbourne, Brisbane and other major cities around Australia.

For more information about bookkeeping and tax for your business, read our tax guides: