FAQ
GoodKeeper

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See the answer to some frequently asked questions below.

  • Can GK do my taxes?
  • Do I need a bookkeeper if I have an accountant? What’s the difference between the two?
  • What other small business cloud tools do you work with?
  • Do you serve businesses with under 100k in annual revenue?
  • What other financial services does GK provide?
  • What types of businesses does GK serve?
  • How much does GK cost?
  • Shouldn’t my bookkeeper be local?
  • Who will be doing my books?
  • Do I need to clean up my books before I hand them over to GK?
  • What accounting software do you support?
  • I have multiple businesses, how can you help me?
  • Do you do bill pay?
  • Do you help with invoicing?
  • Do you handle sales tax?
  • Do you do payroll?

Can GK do my taxes?

While GK doesn’t do tax prep internally, we do work with some exceptional CA partners –  and can arrange for your taxes to be done for you at a great price (and that your books are in-line with our CA partners’ standards).

If you prefer to use your own CA, we will ensure your books are accurately updated throughout the year so they’re ready to be passed on to your tax preparer.

Do I need a bookkeeper if I have an accountant? What’s the difference between the two?

Contrary to popular belief, accountants and bookkeepers perform distinctly different tasks for the businesses they serve. Bookkeepers are responsible for on-going maintenance of their clients’ general ledgers. A bookkeeper’s common responsibilities consist of:

  • Compiling data on a daily basis
  • Categorising expenses in the general ledger
  • Reviewing the general ledger for accuracy
  • Reconciling bank statements against the general ledger
  • Generating financial statements

Accountants use the accurate and up-to-date general ledger maintained by the bookkeeper to provide advisory services, such as:

  • Analysing the company’s financial data
  • Preparing income tax returns
  • Providing tax planning advice

What other small business cloud tools do you work with?

If you have a prefered cloud based bookkeeping tool, it is guaranteeed that we would have already worked with it. Examples of cloud based solutions we work with, but are not limited to, are Xero, MYOB and Reckon.

Do you serve businesses with under 100k in annual revenue?

Absolutely. We offer a range of packages to fit your needs. If you don’t see a package that you think fits then contact us and we’d be happy to chat in orzor to  customise a package that best suits your business.

What others financial services does GK provide?

GK provides the following additional services:

  • Money-in/revenue reconciliation –  Recording deposits, matching payments to accounts receivable, cashflow management
  • Expense management – Expense categorisation, accounts payable maintenance, receipt and mileage tracking
  • Payroll services – Payroll software setup, wages, super and payroll calculation and reconciliation
  • Financial reporting – preparing regular balance sheet reconciliations and financial reports to aid with business decisions.
  • BAS lodgement – we will prepare yearly, quarterly or monthly business activity statements in order to keep your ATO obligations up to date.

What types of businesses does GK serve?

GK serves small and medium-sized businesses of all kinds, but we have a particularly strong focus on the following industries.

  • Professional services – Real estate agents, insurance agents, financial advisors and more
  • Home service contractors – HVAC technicians, plumbers, electricians, painters and more
  • Health and wellness – Gyms, salons, spas, dentists and more
  • Restaurants – Quick-service restaurants, fine dining restaurants, coffee shops, caterers, specialty food providers and more

How much does GK cost?

GK charges a flat monthly fee for our three accounting packages:

  • Starter – $99/month
  • Day to Day –  $199/month
  • Growing – $299/month
  • Mature – from $399/month

Businesses that select the Day to Day and Growing packages are charged a one-time set-up fee of $150, in most cases. However, some new clients also require extensive cleanup and historical bookkeeping work. That being said, we’ll quote you a transparent price before any work is done. Visit our pricing page to see what’s included in each accounting package.

Shouldn’t my bookkeeper be local?

Small businesses no longer need to work with a local bookkeeper. The internet and cloud technology makes it easy for bookkeepers to securely access their clients books anytime, anywhere. Business owners can now select a bookkeeper who truly understands their industry and operations, instead of hiring the local, community bookkeeper by default.

GK’s bookkeepers serve all Australian time zones and are easily accessible.

Who will be doing my books?

GK employs a team of financial specialists all based in our Australian office. We are experts in the latest cloud technology and the business operations across the industries that we service.

Do I need to clean up my books before I hand them over to GK?

No, we’ll include clean up for you as part of our work estimate. Your GK team of financial specialists will setup your industry-specific general ledger in the cloud accounting solution that best fits your needs.

What accounting software do you support?

GK predominately uses a Xero accounting software in most of our client engagements. We can also support, but are not limited to MYOB and Reckon.

I have multiple businesses, how can you help me?

GK specializes in accounting and bookkeeping services for multi-unit businesses and franchises. We can manage the books for each individual location and give you insight into your business’ overall financial performance. Contact us to learn more.

Do you do bill pay?

Yes, bill pay is one of the many services GK offers.

Do you help with invoicing?

GK can help you manage your invoice reconciliation process and your revenue tracking. We don’t send invoices to your clients on your behalf, but we can set you up to do electronic invoicing on your own.

Do you handle sales tax?

GK can help you track the sales taxes you collect so you’re prepared to file and report at the correct times. GK does not currently do sales tax calculations or filing, but we can recommend some tax tools that can help you.

Do you do payroll?

Yes, GK can set you up with a cloud payroll system that connects with your accounting software. We’ll ensure the details from each pay run are accounted for in your financial records and reconciled against your bank statement.

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