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One of the most important thing to remember is that invoicing is the lifeblood of any business. Clients will only pay when they receive an invoice. Invoices are not just payment prompts, they are also an accurate record of the work performed by your business. They are important records of your transactions and as such should always be accurate.
A purchase order (PO) is a commercial document and first official offer issued by a buyer to a seller indicating types, quantities, and agreed prices for products or services. It is used to control the purchasing of products and services from external suppliers
Account reconciliation is the process of comparing internal financial records against monthly statements from external sources—such as a bank, credit card company, or other financial institution—to make sure they match up.1 Knowing how to reconcile your accounts accurately is essential for the financial health of your business, as it helps to detect any errors, discrepancies, or fraud.
Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff. Payroll taxes generally fall into two categories: deductions from an employee’s wages, and taxes paid by the employer based on the employee’s wages. The first kind are taxes that employers are required to withhold from employees’ wages, also known as withholding tax, pay-as-you-earn tax (PAYE), or pay-as-you-go tax (PAYG) and often covering advance payment of income tax, social security contributions, and various insurances.
Accounts receivable is the money you’re owed by customers. Once you send an invoice (or bill), it becomes part of your accounts receivable – until it’s paid. Accounts receivable is the name given to both the money that’s owed, and the process of collecting it. So the accounts receivable process includes things like sending invoices, watching to see if they’ve been paid, taking steps to chase payment, and matching payments to invoices (also known as invoice reconciliation)
When a company purchases goods and services from a supplier or creditor on credit that needs to be paid back in a short period of time, the accounting entry is known as Accounts Payable (AP). On a balance sheet, it appears under current liabilities. In a company, an AP department is responsible for making payments owed by the company to suppliers and other creditors.
Project management is the process of leading the work of a team to achieve goals and meet success criteria at a specified time. The primary challenge of project management is to achieve all of the project goals within the given constraints
A database management system (DBMS) is a software package designed to define, manipulate, retrieve and manage data in a database. A DBMS generally manipulates the data itself, the data format, field names, record structure and file structure. It also defines rules to validate and manipulate this data.
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“Mukesh and his team take the time to understand your business and are willing to do what it takes to provide a quality service at fair price”.
“We have been with Nexzen Accounting for a number of years and recommend them highly for their personal service, professional knowledge and just how they make it so easy to cover all our accounting needs”
“I have always found the team led by Mukesh at Nexzen Accounting to be very helpful. As a Sole Operator, moving to Xero has been a great move! Mukesh also set up a Drop-Box for us to share documents to each other”.
“I like Nexzen’s idea of providing us a quarterly analysis of our financials along our BAS lodgement. It helps us to keep on track”.
“I would like to recommend Mukesh to anyone seeking a competent accountant who offers a service that is tailored to meet their exact need. It is refreshing to meet a professional who I can trust with our finances“.
“Mukesh and the team at NexZen Accounting have been so proactive with regard to responding to the Covid-19 situation. I called first up Monday morning and from the outset they explained that they were working on customised responses to suit all their individual clients needs and particular circumstances. At times like this you need strong professional action like this! many thanks”.
“Mukesh from NexZen Accounting has been very helpful and we are so impressed they are now our new accountants. We are very happy with the service. Thank you.”
“Consider this. With all my years in business I have never come across a more professional company then NexZen Accounting. Their transferable knowledge is beyond reproach.
“Setting up accounting software for business is not an easy task anytime. But Mukesh and his team has been extremely helpful and well informed which is why I would not hesitate to recommend their services to any business.”
“nexZen are next level accountants and bookkeepers. If you’re looking for a proactive, high value, low cost, one stop solution at a fixed cost and is never on holidays, then I highly recommend nexZen accounting”
“The support and help we receive from nexZen is just excellent. Their expertise in accounting and taxation assures us the best possible decision for our business.
Partners and certifications
nexZen Accounting is a CPA Practice. We are fully accredited Tax Agents, Public Practice Tax Accountants, Cloud Bookkeepers and Business Advisors.
We have a dedicated Quality Control Department to lodge your documents on time and meet Quality Standards