Contact Us

Address:

Suite 16/30 Denison St, Bondi Junction NSW 2022

 

Phone:

1300 585 835

Online Enquiry

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Record Keeping & Payables

Record Keeping 

Keeping and maintaining good records of transactions and tax invoices is a legal requirement for all businesses. The ATO requires businesses to keep records for a minimum of five years. It is essential to have a proper system in place to maintain records. Setting up a good record keeping processes will help a business work efficiently and stay compliant. 

 

Using the power of Cloud Technology, we will help you set up an efficient, paperless record keeping system, which syncs automatically to your online accounting software. Evolution Cloud Accounting is partner with Hubdoc, a powerful cloud based receipt and document management software to help you streamline your record keeping.  

 

Hubdoc 

Hubdoc is the smarter way to manage receipts, not only by eliminating manual data entry but also replacing the need to store hard copies with digital storage. You can effectively manage all documents types in Hubdoc, including: 

  • Dockets/Receipts - Instead of shoving the receipt into your wallet, you can photograph it straight into the Hubdoc app on your smartphone. And yes! You can then toss the receipt in the bin!!! 
  • Supplier Invoices – suppliers can send you invoices directlyto Hubdoc via email. 
  • Printed Invoices – if some of your small suppliers still send you printed invoices via mail, this can be scanned and uploaded to Hubdoc 
  • Utility Bills – Hubdoc can fetch these bills directly from the online supplier portals 
  • Bank Statements – Hubdoc can be synced directly with your bank and fetch your bank account statements every month. 

 

Once uploaded, Hubdoc also automatically extracts the data for you, saving you data entry time. Finally, it seamlessly syncs transactions to Xero with the document attached. Transactions are then auto-matched to the bank feed for one-click reconciliation and audit-proofing. Say good bye to paper filing and hallo to an efficient online filing system, seamlessly integrated with your online accounting software (Xero). 

 

Hubdoc and Xero Video. 

 

 

Payables 

Once your documents have been uploaded to your accounting system, we can help you set up and manage a cash flow-efficient payable system.  

As your bookkeepers, we will help you manage your payables to ensure your bills are paid by the due date whilst your cash flow remains positive at all times. Stay on top of your payables will also help you build great relationships with your suppliers. We will: 

  • Produce regular bills to pay reports to keep you updated with your payable situation. 
  • Monitor your cash flow whilst ensuring your bills are still paid on time
  • Prepare electronic payments files for you to authorise and upload automatically into your online banking
  • Send Remittance Advices to suppliers
  • Reconcile your supplier payments in your bank account

 

We are located in Bondi (Sydney) and thanks to cloud technology we can service clients across Australia. 

 

Click here to view our Bookkeeping or Set Up and Go packages.