We monitor & process your transactions

Our bookkeeping package includes processing of source documents in an existing accounting software and clearing of bank feeds.We will monitor what has been done already and fix up the rest.

You will send all your day-to-day paperwork to a data capture software, like Hubdoc, and we will make sure it gets processed correctly. Data capture is as easy as making a photo in an app.

We run your Accounts Payable department

When you decide to sign up with Anconsult we will get access to your accounts email address. That means you either add us or we will create a new business specific email address only for your business. We will be contacting all your suppliers to only communicate with that email address so you don’t have to deal with mundane supplier requests anymore and free up your precious time.

All supplier emails will be handled through Payables package. We will make sure to have your supplier accounts up to date and investigate any missing invoices or payments for you.

We will liaise with all your suppliers to sort out issues from the backend without your involvement. If you deal with purchase orders we can integrate data into your system and monitor all paperwork after it has been received by operations. If you order manually we will make sure that invoices and other supplier documents are getting sent through to a data capture software for processing.

Every fortnight you will receive an up to date Payables Report with marked up bills for payment. You will then decide if you want to alter these suggestions and send us your approval back.

If you have given us access to your bank accounts we can upload ABA files for you ready to authorise for payment, if we don’t have access we will send you an ABA file with all your approved payments which you then need to upload.

Having this process outsourced to our professional admin team saves you lots of time and stress and will make sure we have all expenses captured for reporting to not get surprises later.

We make sure you always know your results

To make sure your management reports include next to real time data for crucial business decisions we set our minimum reporting period to two weeks instead of a month. Only with us you will get reconciled fortnightly reports 8 days after the fortnight has finished, that means you know your results within a week which gives you the power to turn things around before they can affect your business.

We will issue monthly reports as well to make comparison with financial reports for tax purposes easier, but same here, you will receive your results within 15 days after the end of month.

Fortnightly Reports are good for Direct Cost analysis including labour cost, while the more common Monthly Reports are good for overall comparison and overheads.

Due to the practice of weekly or monthly payroll in Australia monthly reports will be skewed depending if the month included three or two payroll periods. Our higher level management reports will normalise these figures so you can comfortably compare apples with apples.

Additional to the basic reporting we also offer specialised management reports such as

• Detailed Cost of Sales Analysis
• Cash Flow Reporting with regular customised analysis
• Budget vs Actual Reports
• Management Forecasting

Or any other scenario that you would like to have regularly analysed.

We keep you in control of your multiple departments

When your business has outgrown the one-report-is-enough stage, we make sure you get separate reporting for all departments. Departments separate from your main operations can be Management (if you want to keep management and operations apart), Asset Hire (if you are hiring out some of your assets), Consulting (if you are selling your expertise) or EOFY Adjustments (if these adjustments are tax related only).

We make sure you get reports on your departments separate to not skew the base for Gross Profit calculations (Sales).

If you run separate operational areas under one ABN and need transactions to reflect correct allocation we can separate out reporting and process intra company transactions.

We are there when you need us

During our processing and controlling services all time spent will be monitored. If you have time credits you can use them for coaching & advisory purposes.

Additionally you can add Pick My Brain Packages to your fortnightly services which will give you access to senior consultants at need.

We monitor your payroll data from Award integrated software

As an additional service we can set up your payroll software and monitor your data entry.

This service is only applicable if you cover your own Human Relations and are familiar with Fair Work regulations. Anconsult is NOT making any decisions on correct pay – we are purely monitoring that data from timesheets are entered correctly into a payslip.

To make sure you are doing the right thing we recommend using special software and apps or have payroll supervision from your tax accountant.

We make sure all money received from POS lands in your bank

If you work with POS we will need daily sales reports – either manually written, digitally entered or via POS integration – to capture your daily sales and be able to reconcile with daily takings.

We will make sure all takings are received – including cash banking. After that they are reconciled with the bank transactions and will let you know if something does not add up.

We run your Accounts Receivable department

Depending how you have set up your invoicing management we will work from wherever you want us to clink in. If you are working with invoicing software, we will make sure it is integrated properly with your accounting software to give you correct results for reporting. If you are writing invoices manually we can either help with that or just monitor your receivables.

In any case we will make sure that invoices are issued and money is received in a timely manner. We will make sure reminders are sent out regularly and ultimately make contact with your debtors to negotiate payment. If all of that fails, we will be helping you with further debt collection measures if applicable.

Every fortnight you will receive a Receivables Report to stay up to date with monies owing.

We take over accounts & admin for your business

As your Virtual Admin we will take over your business email address while you are still in control of what you want to have handled by us and what you want to handle yourself – you can either opt in getting copies of all emails or use a different email address for all matters that you don’t want to delegate.

All emails referring to your Payables or Receivables will be handled through the respective packages. If you have not signed up for a specific package then emails referring to Payables or Receivables will be tracked under your Admin package. All other emails will be screened and either handled by our professional team of admins or forwarded to you.

We make sure your data is correct

We have separated reconciliation away from data processing (Bookkeeping Package) as it is vital to meaningful management reports. All data that we capture through Payables, Receivables and Bookkeeping will get put through a controlling procedure to make sure the output is complying with our 4R-principles:

• Reliability
  No cost missing, all data reconciled and balanced with sources
• Regularity
  Regular report output within a short time frame from reporting period
• Related
  All direct cost relate to sales within the same period
• Relevant
  Cost will be stated when incurred, not when paid

To achieve this standard we let your data run through a proven and coveted “controlling process” which includes the following steps:

• Bank transactions are all reconciled to business events
• Cash received from POS has been banked (if applicable)
• Voucher, Deposits & House Accounts have a match (if applicable)
• Payroll data are costed into the period they incurred (not when they were paid)
• Quarterly and yearly payments are deferred or accrued to show real cost per period
• Loan payments have interest expenses separated out and costed
• Inter Company Transactions are verified and reconciled (if applicable)
• Owner Drawings or Directors Loans are verified and reconciled
• Liaising with tax accountant to make sure GST has been allocated correctly and is ready for Activity Statements

We keep you in control of your multiple businesses

If you run multiple businesses that interact with each other – shared staff, expenses or investments – you need to have a clear picture who is owing who at any time to have transparency for your shareholders.

At this stage we can also offer a dedicated Group Admin, who is one person that will know your dealings in and out.

We monitor and process your inventory

If you run inventory it is crucial that it is set up correctly in your accounting system. This will be handled through our onboarding process.

There are 3 different stocktake processes:

Stocktake once a year

If you are opting to count your stock once a year, your Cost of Goods will be handled through purchasing (Payables).

NOTE: This inventory system is used for businesses with very short turnover that refill their stock every period to keep it level throughout the year (fresh and semi-fresh produce)

Periodic Stocktake

If you are counting your stock every period (at least once a month) your Cost of Goods will get adjusted accordingly.

We will be charging stocktake entries under the Admin package which has to be extended accordingly. The Cost of Goods adjustment gets handled through the Reconciliation Package.

Perpetual Stocktake

If you have inventory software – usually combined with purchase ordering and POS – this has to be set up correctly so data flow is consistent and correct.

Under the perpetual stocktake system Anconsult staff will be monitoring item set up, purchasing and data flow through to sales to make sure your figures are correct.

You will also receive a fortnightly Gross Profit Report detailed to your inventory groups.