Day to Day Accounting & Payroll

Spend your quality time to look after your clients, to build the business, to do what you love & have passion for.

We all have 8 hours a day, 5 days a week and the clock is ticking

Do you really want to spend that time doing:
  • Reconciling Accounts
  • Attaching Receipts with transactions
  • Chasing money
  • Preparing Wages
  • Entering Supplier information
By hiring nexZen to be your accounts department:
  • You spend that quality time to look after your clients, to build the business, to do what you love & have passion for
  • You save your weekend to spend your quality time with your family, to maintain the healthy relationship with your spouse and kids.
  • Have someone with expertise keeping our accounts up to date
  • Have the financial information readily available for decision making
100% Client
Satisfaction
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Approach
Shorter Time
To Market

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.[1] 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.

Need Gap Analysis

Motivational Question
- Move Towards Gain

What do you gain when your day to day accounts are in order, always?
  • Your invoicing is fast & highly automated.
  • The direct debits are set up.
  • Your debtors are followed up and you get your money in your bank Fast.
  • Your bills are paid on time and your suppliers will keep you happy.
  • You see clearly what is left & what’s yours to keep.
  • Your employees get paid on time every time and ATO gets the report.
  • Your receipts are saved in the system to save you the ATO Audit Stress.
  • & more…

Motivational Question
- Move Away From Pain

What pains do you feel when your day to day accounts are not in order?
  • You may not know your cash situation
  • You will miss Payment deadlines
  • Debtors build up and bad debts go high
  • Your Weekend and family time is spent doing books
  • Not enough money to pay suppliers and employees
  • Lack of consistency how the transactions are recorded
  • Risk of Fairwork & ATO Audits
  • High Cost compared to the value received
  • & more…

Measurement Question
- A few KPIs

How do you know that your day to day accounts are prepared timely, efficiently & accurately?
  • No Overdue invoices & bills
  • Cashflow is in control
  • Employee or Suppliers are not chasing for the payments
  • Fairwork & ATO Requirements are met
  • Business records are maintained in a consistent manner
  • Transparency in the system
  • & more…

Value Question
- Emotional Value

How does having your D2D Accounts sorted impacts on your lifestyle, freedom and sustainable profit?
  • Clear Accountability
  • Improved decision making ability
  • Efficient Supply Chain
  • High Customer Satisfaction
  • High Employee Retention
  • Peace of Mind
  • & more…

Value Question
- Monetary Value

How does having your D2D Accounts sorted impacts on your lifestyle, freedom and sustainable profit?
  • Increase in free cash
  • Best interest rates
  • Timely payment from customers
  • Able to get finance from Banks when needed
  • $ Saving in fines & penalties
  • Increased value of business
  • & more…

Consequence Question - If Kpi Or Objectives Not Achieved

What are the consequences if your day to day accounts are not proactively created?
  • Missed or late debt payment can take a toll on business credit report
  • Pay high interest rates and unfavorable payment terms.
  • Incorrect reporting to ATO
  • Heavy tax penalties due to late payment
  • Losing suppliers, which will affect your production, output and sales
  • Serious Cash flow issues
  • Not able to buy stock or hire people
  • Fairwork & ATO Audit
  • & more…

Motivational Question - Move Towards Gain

What do you gain when your day to day accounts are in order, always?
  • Your invoicing is fast & highly automated.
  • The direct debits are set up.
  • Your debtors are followed up and you get your money in your bank Fast.
  • Your bills are paid on time and your suppliers will keep you happy.
  • You see clearly what is left & what’s yours to keep.
  • Your employees get paid on time every time and ATO gets the report.
  • Your receipts are saved in the system to save you the ATO Audit Stress.
  • & more...

Motivational Question - Move Away From Pain

What pains do you feel when your day to day accounts are not in order?
  • You may not know your cash situation
  • You will miss Payment deadlines
  • Debtors build up and bad debts go high
  • Your Weekend and family time is spent doing books
  • Not enough money to pay suppliers and employees
  • Lack of consistency how the transactions are recorded
  • Risk of Fairwork & ATO Audits
  • High Cost compared to the value received
  • & more...

Measurement Question - A few KPIs

How do you know that your day to day accounts are prepared timely, efficiently & accurately?
  • No Overdue invoices & bills
  • Cashflow is in control
  • Employee or Suppliers are not chasing for the payments
  • Fairwork & ATO Requirements are met
  • Business records are maintained in a consistent manner
  • Transparency in the system
  • & more...

Value Question - Emotional Value

How does having your D2D Accounts sorted impacts on your lifestyle, freedom and sustainable profit?
  • Clear Accountability
  • Improved decision making ability
  • Efficient Supply Chain
  • High Customer Satisfaction
  • High Employee Retention
  • Peace of Mind
  • & more...

Value Question - Monetary Value

How does having your D2D Accounts sorted impacts on your lifestyle, freedom and sustainable profit?
  • Increase in free cash
  • Best interest rates
  • Timely payment from customers
  • Able to get finance from Banks when needed
  • $ Saving in fines & penalties
  • Increased value of business
  • & more...

Consequence Question - If Kpi Or Objectives Not Achieved

What are the consequences if your day to day accounts are not proactively created?
  • Missed or late debt payment can take a toll on business credit report
  • Pay high interest rates and unfavorable payment terms.
  • Incorrect reporting to ATO
  • Heavy tax penalties due to late payment
  • Losing suppliers, which will affect your production, output and sales
  • Serious Cash flow issues
  • Not able to buy stock or hire people
  • Fairwork & ATO Audit
  • & more...

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We are loved for what we do

See why people love us

Glen Coventon
- Pertrain Pty Ltd -

“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”.

Annette Holdaway
—Aussie Bargain—

“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”

Ross Broadfoot
—HRB Consulting—

“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”.

Stevhan Pereira
—Bombaywala Pty Ltd—

“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”.

Bryce Coventon
—Performance Training—

“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“.

Steve & Sancha
—Suncoast Sign—

“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”.

Soraya Saraswati
— Global Records Essential oils—

“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.”

Simon Murray
—CEO Sunshine Coast Disability Services—

“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.

Neil Steffensen
—SQ Homes—

“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.”

Anton Oud
—PSS Group Pty Ltd—

“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”

Vivek Nayyar
—VKN Pty Ltd—

“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.

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Partners and certifications

Accredited Practice

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

SYSTEMS REDEFINED

The member presented as a confident and capable professional and impressed me with his commitment to maintaining a very high level of professionalism.

His system displayed a real focus on assessing his clients behaviour and his philosophy was on building a relationship with his clients that would be long term. As you would expect with a practice using this model the Quality Control Manual and Risk Management statement showed evidence of being continually updated and adjusted as needed.

I really felt that the investment the member has made in building his systems will pay off as his client numbers grow.
Reviewer - RHETT Robinson CPA
Review Date - 11 May 2016