Frequently Ask Questions
1 To whom do you provide back office services?
We furnish our SMSF accounting & audit compliance services to SMSF administrators, accountants, financial planners and auditors Australia wide.
2What are your fees?
We have always believed in providing affordable and relevant fixed fee for all size/variety or complexity of SMSFs. We understand our clients at times want certainty of pricing for their funds. Therefore our preference is the use of a fixed fee model at all times. It is important to note that once we are engaged with your superannuation funds you can pick up the phone or email us at any time with your superannuation queries for no additional fees. Therefore in essence we become an additional technical resource for your firm. We would encourage you to call us to discuss the funds you have for accounting and audit so we can determine a fair price for the work involved or alternatively for a obligation free quote.
3What is your turnaround?
Our commitment to our clients is that we either complete the accounting compliance and reports within 5-8 working days from the day we receive the information. We have consistently met our commitment for more than 98% of the time. We are very proud of these numbers as it is very important to us that we deliver on our commitments.
4How does it work?
Data & Software Access client will provide us the software access and data for processing. Software: If it is online version than provide us username & password, if it is desktop version, provide us with the setup file for the same. (Software subscription charges will be borne by client). Data: Provide us the scan data for SMSF compliance via Email, Dropbox, Google Drive or any data sharing cloud storage. We do not require hard copies. Processing: Our team will analyse the data Prepare a list of missing details or additional info required. An email will be sent requesting for the same. If any further query arises, an email will be sent to you followed by a phone call at your convenient time. At no point of time the end client will be contacted which will we mentioned in the NDA. Once data is processed you will be notified by an email for completion of work and we will forward process data file, reports & work papers as per your requirement.
5What Software do you use?
We use MYOB, QuickBooks, BGL simple fund, BGL 360, Class super, Super Mate, Procom, SAP, SAP business One, SAP ERP, UCan2, Reach Accounting, XERO, Fresh Books , Tully Attaché, Sybiz, MYOB EXO, BankLink and any other off the shelf software. We also know Hand iSOFT, Reckon Elite, Sage, Accpac, MYOB Accountants Office and PeopleSoft etc. and the software that you recommend.
6How qualified/skilled is your staffs?
All accounting associates must go through 8 weeks of induction training covering Australian accounting and taxation. Accounting associates must pass the assessment test administered at the end of training with a minimum score of 80% before they are assigned live client work. We require employees to complete weekly two hour refresher and continuous training programs run by Australian experts to enhance the bookkeeping, accounting, taxation and SMSF knowledge of our team. Employees are actively encouraged to pursue professional qualifications and up gradation at all times.
7How my data is kept secure and confidential?
8What does EOFY completion of accounting & audit include?
Preparation of tax reconciliation statement Preparation of annual financial accounting & taxation Complete analysis of contributions and pensions Completion of independent annual audit Recording of tax components from investment income Preparation of trustee representation letter Completion of the SMSF tax return form
9What time zone do you work?
We provide extended business hours of operation, access to a live ticketing system, unlimited emails, phone support as well as online chat and Skype. Our Australian support team is available between 9.00 am and 6 pm AEST.
10What precautions do you have in place to protect data from unauthorised access, modification or disclosure?
11How secure is it?
The terminal server uses the same security as banking-related software. Your file is completely protected and can only by accessed by authorised staff.
12How do I know my data is safe with cloud-based accounting?
Cloud accounting companies, such as Xero and QuickBooks, invest resources in data backup and security more heavily than most small business can. They have backup systems and contingency plans in case they encounter an issue, and they have a full staff of professionals regularly checking and maintaining their service.
13What control do I have as a business owner over my data?
You have complete control over your data. You choose the platform and software that most closely matches your business needs. You retain this control throughout your engagement with us.
14What cloud-based applications and platforms do you use?
We are partners of cloud-based accounting platforms, such as Xero. We also make use of cloud-based tools such as Dropbox, Box, FileHub, Shoeboxed, Vend, Fathom, Spotlight Reporting and Calxa.
15How long does it take to set up a system?
It takes our IT team approximately 24 hours to setup and configure access to your secure portal.
16What retail accounting software do you support?
We use MYOB, QuickBooks, Procom, SAP, SAP Business One, SAP ERP, UCan2, Reach Accounting, XERO, Fresh Books, Tully, Attaché, Sybiz, MYOB EXO (formerly Exonet), BankLink and any other off-the-shelf software.
17What wholesale accounting software can you use?
We know Hand iSOFT, Reckon Elite, Sage, Accpac, MYOB Accountants Office and PeopleSoft.
18Do you offer guaranteed turnaround times?
Yes. Our employees work diligently to ensure deadlines are met on-time. All of our work is guaranteed under our service level agreements.
19Is ongoing support included?
Yes. We provide onsite support; extended business hours of operation, access to a live ticketing system, unlimited emails, phone support as well as online chat.
20What are your terms of trade?
We offer direct debit and other payment terms on a weekly, biweekly or monthly basis. We do this to help you implement better client payments terms, which will increase your cash flow.