Frequently Asked Questions

Do you have a question relating to our @Group Consulting business products or services?

We have collated the following list of frequently asked questions from our clients, and hope this

may assist you in answering some of your questions. If not, please do not hesitate to contact us

and we will endeavour to provide you with an answer.

What services does @Group Consulting offer?

@Group Consulting is a provider of integrated financial and risk management consulting solutions and incorporates @bookKeeper Consulting and @Risk Consulting.

@bookKeeper Consulting. All our @bookKeeper Consulting financial services are conducted under an Off-Site model. We do not get in the way of your business activities, and utilise our own resources to complete the required activities. We are professionally accredited and certified bookkeepers and also maintain a BAS supervisory arrangement with ABN BAS Pty Ltd ABN 15 140 731 657 (BAS Agent # 91970004), in compliance with the requirements of TASA 2009 and the Taxation Practitioners Board.

We set up professional accounting systems for all your business needs and perform all our work under our off-site model, with free document pick up and delivery. We make sure you know where you stand and we maintain Professional Indemnity Insurance to support our activities.

@Risk Consulting. The @Risk Consulting approach involves working as a strategic risk partner to the business, focussed on contributing to the success of the business. We expect that the business leadership management team is actively and directly involved in the approach adopted for the risk management program and associated strategies developed. We work with the business to develop an appropriate solution by guiding the process, thereby ensuring that the costs that are borne are for the subject matter expertise we bring to the assignment, not administrative costs which would be duplicated within your own business structure. You already pay staff for administration, so we agree with you on the assignment of appropriate resources which will directly input to the project and complete and own the required knowledge transfers. We target our consultative methods utilising our developed intellectual approach while paralleling to the ISO 31000 framework. This is achieved through a combination of workshops and interviews involving the participation of relevant staff and key stakeholders.

Why choose @Group Consulting?

We have a very unique position in the market where we are able to deliver financial services whilst also able to supplement this offering with risk management services normally only available to the big corporates. We believe this provides a value add which is not able to be matched by any of our competitors. Most will attest to provide a risk or fraud assessment, which amounts to nothing more than ticking off a few boxes off a checklist.

We have more than 25 years of corporate level risk management and accreditation, servicing the financial services industry. We do not tick off a checklist. We review your business operations and make an assessment based on your unique circumstances, and customise our products to suit accordingly. We do not sell you a shelf product developed by someone else. And we keep it at a level which allows you to decide if you want to manage it yourself going forward, or whether you want us to monitor and manage the process for you.

Our bookkeeping services are reliable and affordable, We have experienced in a variety of different industries and entities. We work with our clients to structure quality packages that include the services and support required specifically for their business, choosing the most cost effective method for each individual client.

What areas does @Group Consulting service?

@Group Consulting can service almost anywhere in Australia. Our services are based on an off-site or remote basis model. Post, courier, email, secure file transfers and cloud services make remote services possible! Our target market is small to medium businesses. Small being defined as 1-15 people and medium as 16-50 employees. Whilst the majority of our clients are within Melbourne’s inner suburbs, we service and offer our services Australia-wide both on a regional and interstate basis. We maintain regular contact with our clients, as well as periodically visiting all our clients Australia-wide, as work commitments both require and permit. We would welcome the opportunity to meet with you and discuss this further, and demonstrate to you how this can work for your business.

Do I need an appointment?

Not necessary. If it is not convenient for you, we can make many of the arrangements over the phone or by email. We will need to ask you some basic questions at that time and progress the development of the profile and relationship as we move forward on a needs basis.

Q: Do we have to enter into a contract to use your services?

@Group Consulting, incorporating @bookKeeper Consulting and @Risk Consulting, utilises a standard Engagement Letter that sets out the scope and pricing of the work and the obligations we have to each other as service provider and client. It does not lock you into a specific time period, unless a fixed term is what you require and agreed by both parties.

Q: Do you provide telephone support?

Yes, during standard business hours we can provide telephone assistance for clients who may need a quick answer. However, if an issue requires extended time we will need to make alternative arrangements to deal with it. As our clientele consists of small to medium business owners, we would expect that they would appreciate that our services are time driven and extended support would require it to be classified as a standard service request.

@bookKeeper Consulting

Why do I need bookkeeping?

Bookkeeping is vital to every business, providing critical operational performance information which assists business owners and management to make strategic decision for the continued success and improvement of the business. Utilising a professionally accredited bookkeeper can assist the business owners to leverage experience, and allow them to free up time which can be better used on the operational activities. They spend less time on their books and more time on their business!

@bookKeeper Consulting has a range of bookkeeping business services and related products. Our services can assist business owners with record keeping, administrative systems, BAS, plus informative and timely reporting. Some of these services and products include:

General accounting, bookkeeping compliance work and office management systems
Accounts Receivables & Payables management
Bank reconciliations
Financial reporting and analysis
Cash flow reporting and analysis
Payroll services
Year-end processes
Preparation of BAS
Training and support
Website & Social Media

Why should I outsource my bookkeeping?

For many small business owners the burden of doing the bookkeeping is stressful and time consuming, and often impacting on your nights, weekends, personal and family time. Most small and medium business owners do not have the knowledge, time or ability to effectively manage bookkeeping duties, whilst still being required to manage the day to day stress of operational business requirements. Outsourcing to an accredited professional bookkeeper will provide you with the time required to focus on your business.

A part time bookkeeper can decide to change jobs and you have to deal with recruitment and training again. When you outsource bookkeeping services, these problems do not exist, and you reduce employment related expenses and eliminate issues associated with it including resignation and absences. Outsourcing allows you to focus on your business rather than your books, improving profitability and maximising return on the funds invested in the business. Furthermore, an outside bookkeeper will bring an independent perspective to the work and provide unbiased professional input that can significantly improve your planning and decision-making.

What if I do some bookkeeping work myself?

We can review and validate the work for you, and complete the time consuming aspects that remain. We can help you to establish the systems and process you require or we can provide ongoing monitoring services including preparation of financial reporting.

What if I am years behind, and my books are a mess?

Not a problem. We can help you to sort it out no matter how far behind you are, and re-construct the current position of your business accounts. And, at the end of it all we will review the accounts with you so you have a better understanding how systems and processes can be initiated to keep you up to date.

Can’t my accountant or data entry person do my bookkeeping for me?

Some accountants do offer bookkeeping services, but the majority prefer to focus on the higher end processes such as legal and tax management. As a consequence, they also charge considerably more than a bookkeeper. Data entry people are able to perform, but they are limited in what they are qualified to do. With the enactment of the Tax Agent Services Act 2009, accountants and bookkeepers must meet professional accreditation to be able to provide services for a fee. Your bookkeeping and administration is no longer something you search for at the cheapest price - you need to ensure that your business needs are appropriately managed.

Do you offer onsite bookkeeping services?

No. Our business model is based on provision of off-site or remote services. Whilst the majority of our clients are within Melbourne’s inner suburbs, we service and offer our services Australia-wide both on a regional and interstate basis. Post, courirer, email, secure file transfers and cloud services make remote bookkeeping services possible! We would welcome the opportunity to meet with you and discuss this further, and demonstrate to you how this can work for your business.

Why should I use off-site or remote bookkeeping when I can use a local bookkeeper?

Our services can be provided Australia-wide. You chose the service that best fits with your business, as long as that model works for you. In this day and age - mobille phones, express post and skype etc. your bookkeeper can be aywhere. That's why our model works, and we do not get in the way of your day to day operational activities. We talk, we meet and we make the arrangements that need to be put in place at the time that suits both client and bookkeeper.

This model can work out cheaper for you, and less time consuming. You do not have to deal with appointments, travel or sometimes even computer software (depending on your business needs). You do not need to find extra space and a computer for a bookkeeper in your office. In some cases, you can substitute as little as the cost of an express post envelope for some of these expenses. And ofcourse there are a variety of methods we consider when packaging the best model to apply to our client relationship. It will depend on the circumstances and your choice which method the best for you.

What are your bookkeeping service rates?

Our fees will vary with the individual bookkeeping service needs of our clients. We, therefore, structure pricing packages after we discuss and understand your specific requirements. We believe in charging our clients for what they use, not average pricing across our client base. We have hourly bookkeeping fees and fixed package rates, and we will structure these following our agreement of your business requirements.

A number of factors will go into determining how we work out our bookkeeping package service rates:

The size of your organisation,
the type of business you’re in,
whether you’re behind in your bank reconciliation,
cash flow management and BAS,
and also whether there are bookkeeping jobs you would like to do yourself, or have staff do.

Since we tailor our bookkeeping services to suit your needs, we need to have that chat first to discuss which business solutions will best suit you.

What software do you use?

We use Xero, MYOB, and Reckon (QuickBooks).

Q: Do I have to buy accounting software if I use a contract bookkeeper?

You don’t have to buy any accounting software if you have no need for it. We can build the use of our own software as part of the overall packaged services we offer your business. We can create a data file for you in our own software and do all the bookkeeping work for you and at the end of the year provide the required data files to your accountant in order that he can finalise your accounting requirements.

However, if you would also like to retain your own accounting software, we can assist in the review of your needs and recommend appropriate software. Depending on the size of your business this might be a standard accounting program which you would buy to load on your computer, or a perhaps a cloud solution for which you would pay a monthly subscription. Or maybe you just need us to develop an Excel Spreadsheet in order that you can track certain numbers within your business.

Q: Who owns my bookkeeping data if I use a contract bookkeeper?

If you own the software then you own the data file. If we cease to be your bookkeeper then we return your data file and any of your paperwork that we may have been using or storing for you. However, some clients do not wish to purchase accounting software and ask us to create a data file for their business under our own software. In this case, if you decide in the future to buy your own software, or you ask us to hand over your data file to another bookkeeper, then there may be a nominal fee for the transfer of ownership.

What’s the difference between a bookkeeper and an accountant?

Accountants are qualified to give advice on tax management, and to plan a financial infrastructure for the business. They focus on the big picture, and charge accordingly for their time. On the other hand, bookkeepers focus their activities on the finer detail of the business - the smaller picture. Bookkeepers record financial transactions into categories, produce reports for accountants and the tax office and help manage business cash flow. Provided that a bookkeeper is a registered BAS Agents, or they have supervisory arrangements in place, then they are qualified to administer systems that fulfill a business’s BAS obligations. In comparison to accountants, bookkeepeing services are provided at a more affordable level, freeing up the owners to better allocate the time to the operational activities of the business - they activities they can maximise in their business.

Why should I use a bookkeeper? Why not just use accounting software myself?

Can you use your time better running your day to day operational activities or entering data into your account software? Oursourcing your bookkeeping to a professionally accredited bookkeeper can release you to maximise your benefit to your business. There are many things you need to know and a range of experience you need to have in order to consider yourself a good bookkeeper. You also need to keep up to date with changes in payroll, taxation (eg. GST, PAYG) and other ATO legislation.

What qualifications should a bookkeeper have?

Until 2010 pretty much anyone could call themselves a bookkeeper. But since 2010, it is illegal to charge a fee for providing a BAS service unless you are registered as a ‘BAS Agent’ or have registered agent arrangements in place to support your activities. Under legislation passed under the Tax Agents Services Act 2009, specific academic qualifications and substantial levels of experience are required for registration as well as participating in ongoing professional development.

Are you qualified to prepare Business Activity Services (BAS)?

Yes. We have supervisory arrangements in place, which provides us with the legislative qualification for preparation, lodgement, giving advice on BAS to clients, and software training. We are professionally accredited and certified bookkeepers and also maintain a BAS supervisory arrangement with ABN BAS Pty Ltd ABN 15 140 731 657 (BAS Agent # 91970004), in compliance with the requirements of TASA 2009 and the Taxation Practitioners Board. We make sure you know where you stand and we maintain Professional Indemnity Insurance to support our activities.

Q: Can you do my tax return?

No, we cannot do your tax return. We can assist with BAS but we are not tax agents. However, we work with several accountants and can assist with a recommendation or at the end of each financial year we can send your computer accounting file and supporting documents to your accountant for them to prepare your tax return.

Q: Can you recommend an accountant?

Yes, if you don’t have an accountant or you’re thinking about switching from your current accountant, we have associates we can recommend based on your needs.

@Risk Consulting

What is Risk Management, why do I need to worry about it, and why do I need it?

Risk is defined as "the effect of uncertainty on objectives. Risk is often specified in terms of an event or circumstance and the consequences that may flow from it. Risk is measured in terms of a combination of the consequences of an event and their likelihood. Risk may have a positive or negative impact" - AS/NZS ISO 31000 : 2009 Risk Management - Principles and Guidelines. Risk Management cannot be underestimated. It is important in protecting people's safety, protecting your organisation from legal liability, providing better information to make decisions, enabling better asset management and maintenance, improving the perception of your organisation among stakeholders, and many other reasons. Some simple examples of risk are physical injury, failure of machinery or equipment, breach of security, fraud, litigation, customer dissatisfaction, unfavourable publicity.

Business Impact & Continuity Planning? Why do I need it?

Business Continuity Management is an integral part of Risk Management. By definition "Business Continuity Management provides the availability of processes and resources in order to ensure the continued achievement of critical objectives" - HB 221:2004 Business Continuity Management. Business Continuity Management is central to the confidence of the business that a disruption is able to be managed in a planned manner to restore its operations to business as usual. Without this organisation, the business faces great risk in every decision it takes to restore the situation - are the right decisions being made? And are they in the right order? What flow on impacts do these decisions have? Is there a chance of further fuelling the disruption?. A planned and considered Business Continuity Management strategy is central to providing the right approach and answers. A Business Continuity Management Framework includes written procedures to ensure it is known what, how, when and by whom action is to be undertaken to treat risks - it includes a Business Impacts Analysis, Business Continuity Plan, Testing & Rehearsal Plans and any required Treatment Plans.

What is a Risk Management Framework and how can I implement it for my Business or Organisation?

A risk management framework includes written procedures to ensure it is known what, how, when and by whom action is to be undertaken to treat risks. A Risk Management Consultant external to your business/organisation can provide valuable assistance and can help you get started in the design and implementation of your risk management framework. However, what can be achieved internally should not be underestimate. You and your colleagues know and understand your business/organisation better than anybody else. With specialist consulting input and the right tools, together with the knowledge and skills of your staff, you may be surprised at how much can be achieved. A totally risk-free environment is not possible and uneconomic to achieve.

Doesn't Risk Management Cost a Lot of Money to Implement?

Risk Management need not be costly for you, your business or organisation. In fact, many businesses and organisations are often surprised with how implementing simple and inexpensive measures can greatly reduce risk. You also need to consider the potential costs involved if you do not manage your risks. These include loss of business, damage to your organisation's reputation, loss of staff or volunteers and legal fees.

Do you offer Risk Management training packages?

Yes. We offer a comprehensive range of Education & Training products and services which are designed and tailored for the small and medium business market. We do not believe that one size fits all circumstances, so we offer our clients the opportunity to assist in customing our shelf product to suit their specific needs. We also have experience within the larger business sector market, assisting with the successful delivery of identified education & training needs.

Can you support and maintain our risk systems, policies, procedures and training programs for us?

Yes. We offer support & maintenance for all of our range of products and services which are designed and tailored for all business markets. We are also positioned to discuss your own specific needs, and seek to customise our support & maintenance offerings to suit the specific risk needs of your business situation and profile.