We are providing accounting services to Australian Public Practicing firms. Nowadays due to competition cost cutting is one of the best options to increase the profit for any practice. Cost cutting doesn’t mean reducing quality. So now question is how it is possible? It is possible through outsourcing. Haricare is one of the best options to outsource accounting work. We are giving high quality service at less cost in time.

In a stipulated time finalizing the accounts with required supporting documentsis most important. At Haricare we process the accounts and ensure that all required provisions like Div 7 A, FBT,SBE rule, CGT etc., are taken care. While finalizing the accounts we scrutinize the client’s book and will pick all the issues and we will sort out the issues by raising proper queries. So here we make an effort to finalize the accounts with accuracy. Finally we will present the client’s financials along with work papers.

We are having qualified accountants (Chartered Accountants, Accounting graduates and post graduates) with Australian accounting and taxation experience. Our staffs are well-versed with all the software viz., Handi, Xero, MYOB AO, Solution 6, Reckon Elite, Account Assistant,APS, MYOB, Quick book etc.,

We prepare tax return for all like individuals, company, trust, partnership and SMSF.Normally accounts finalization and tax return will be done together.

Preparing tax return is not just entering the figures butit is about preparing most tax effective manner. At Haricare we do best tax planning such a way that client will end up with minimum tax burden. We will take care of all provisions, tax breaks and offsets so that tax payer will get maximum tax benefit.

In our view there are two tax planning. One is pre-tax plan and another is post-tax plan.

Pre Tax plan: Here we mean, at the beginning of the financial year tax payer to be advised on what are the applicable tax provisions, what are the investments can be done, what are the combination of income can be received like salary and pension from SMSF etc., This plan helps to reduce the tax burden. At Haricare we will serve the client by providing pre-tax plan.

Post Tax Plan: Once financial year get over, person/business has to prepare and lodge the tax return. In this case a proper tax planning is most required so as to end up with low tax.

For instance a person may be having income from business and also salary. Business may consists of company and trust. Individual’s income may be in higher tax bracket due to salaryand in addition to this if he gets trust distribution then overall tax payable would be huge. In this case trust distribution can be diverted to the company as it is one of the beneficiaries of trust. As a result company will pay tax at 30% otherwise individual would have been paid at more than 30% rate. At Haricare we will make best post tax plan, accordingly we will prepare tax return.

SMSF Finalization: Self Managed Super Fund (SMSF) is one of our core area of service. We serve SMSF by periodical account keeping, reporting, yearend finalization and tax return. Since SMSF is highly regulated it is most important to make yearend finalization accurately. Our staffs are specialized in SMSF and will take care of all aspects like income reconciliation, investment reconciliation, giving proper effect on CGT event, pension process etc.,. When there is a need of actuary certificate we will only apply for the same on behalf of tax agent. Once job is finalized we will present it along with work papers for each trial balance items.

We are having very good experience in BGL Simple fund& BGL 360, Handi Super and Class Super. Also we can finalize in General Ledger software like Handi Ledger, MYOB AO, Solution 6 etc.,

SMSFMonitoring: Since fund is managed by trustee/members practically in many case fund may incur loss or its market value over the period may go down. So there is a requirement of close supervision on fund regularly to avoid loss of its net worth. At Haricare we can maintain funds account on daily basis and can report fund’s investments market value regularly. As a result it would be helpful to take good decision on investments purchase or sale and to increase the net worth of the fund.

We will update the client when a member can start pension, how much minimum and maximum pension should have been paid. Due to busy schedule tax agent/auditor may miss to advice on these things but at Haricare we will take care of all these things from our end.

We work for SMSF auditors. We make detailed check of SMSF yearend financials & tax return which is prepared by tax agents. We use & prepare detailed audit check list which ensures accuracy of audit. While auditing we pick errors & mistakes and make proper queries to tax agent/accountant. So we give backend support to SMSF auditors during their audit work.

We are associated with registered SMSF Auditors in Australia. We work closely with auditors and will provide audit certificates in time through our auditor. We charge very reasonable and often we quote bundle pricing for SMSF finalisation & audit. Our SMSF team is well capable to handle all SMSF work hence tax agents need not worry on anything. Once SMSF work assigned to us we take care of all aspects and tax agent need to make brief review and lodge the tax return.

A clean and systematically maintained book results in many things. Like it provides required financial information for managerial decision, it helps to manage your receivables and payables, it helps to meet statutory obligation in time. It shows where your business is going?

Haricare is specialized in book-keeping service. Our rich experience and timely service made many clients to relax from their headache on book-keeping. We will not just enter the transactions into book but we make proper reconciliation of bank, payables & receivables, wages and super etc.,

We will take care of all aspects like generating invoice and sending it to customers, continuous follow-up with customers for recovery of receivables, follow-up for payables in time, generating payslips and sending it to employees, preparing BAS and make it lodged through tax/BAS agent with in due date.

Our staffs are having good experience in software like Xero, MYOB all versions, MYOB live, Quick Book, Cash Profit Manager, Bank link, Reckon One etc.,

For all the books which Haricare maintain, we provide value added service of preparing BAS. We will not charge anything extra for this.

Along with book-keeping, we prepare management accounts and interim financial reports. We understand timely and accurate management accounts helps managers for decision making on financial & non-financial matters. Followings are some of the reports we prepare & submit periodically to the management:

• 1) Profit & Loss Account & Balance Sheet
• 2) Budget Report
• 3) Accounts Receivable & Payable Aging Report
• 4) Job Cost Report
• 5) Inventory Report
• 6) Cash Flow Statements
• 7) Ratio Analysis Report
• 8) Working Capital Projection Report
• 9) Staff Performance Analysis Report

Employees of an organization take integral role for its success. It is a primary responsibility of the employer to keep proper records of the employees like their TFN, address, wages, PAYG withheld, superannuation contribution, leave pay, leave balance etc.,
Haricare will take care of all payroll process as below

• 1) Payroll Setup
• 2) Applying for superannuation membership with public superfund like Australian super
• 3) Pay run and record transactions
• 4) Print and send payslip to employees
• 5) Maintaining leave balance
• 6) Calculation of year end annual leave & sick leave provision
• 7) Periodical follow up with employer to pay superannuation & PAYG withheld within due date
• 8) Calculation of settlement amount on termination of employees
• 9) Preparing Group certificate (PAYG Payment Summary).

We understand that once a payroll process is assigned to us, we will run the payroll as it is pre-stated pay cycle may be daily, weekly, fortnightly or monthly.

We are having very good experience in many payroll software like MYOB, Quick Book, Xero, Reckon Elite, Wage Easy- Handisoft, ePay Day etc., We do payroll process both in Desktop and in Cloud Version(online).

Cash flow of a business is most important for its success. Bills receivables & payables are important part of the cash flow. So this should be managed properly to ensure smooth flow of business.

At Haricare we will provide service of bills receivables and payables.

Bills Receivables: We will deal with invoicing to customers, entering the receivables transaction, periodical follow-up for the recovery and closing the account on its receipts, preparing the reports periodically.

Bills Payable: We process bills payable transactions, closure of the account on its payments and periodical reporting.

We provide backend support service to mortgage brokers. Due to busy schedule, handling certain administrative & financial works would be difficult for brokers. We serve them with following valued services.

1) Business Plan: We prepare start-up business plan as well as strategic business plan. This will help prospective business to raise fund by way of loan/equity.

2) Preparing financial statement: An existing business firm may require finance by way of bank loan. Normally bank requires current and previous period financial statements. Hence the financial statement would be prepared such a way that, it would result positive impact on bankers in sanctioning the loan. We practice concept of window dressing and having enough experience in financial statement preparation.

3) Loan Application: We verify client’s documents required for bank loan and will fill-up loan application form accurately.

4) Ancillary service : This includes any service like maintain data base of clients, attending the client queries etc.,

Admin work is most important for any organisation. In practice Public accountant would be busy in their core area of accounting, tax work and client advisory services. As a result it would be the quit difficult for principal to look after admin related work.

At Haricare we will take the role of admin task. We will provide best admin outsourced service. This normally includes followings.

• 1) Attending clients queries through mails
• 2) Clarify the clients requirements briefly with Principal
• 3) Maintain firms records and client database
• 4) Keeping track of work flow
• 5) Follow up with clients on their obligation to discharge on tax matters
• 6) Communication with clients for documents, and to reply for queries
• 7) Keeping records of firm’s employees attendance and leave details
• 8) Practicing firm’s book-keeping, raising invoice, follow up for receipts
• 9) Assisting principal on marketing activities like sending mails/invitation for prospective clients

Our admin service aims, principal to relax from day to day works and let him/her to spend time with clients and look for new clients.

A business should start with a proper plan so that it would be possible to succeed. Business plan mainly helps entrepreneur for the followings

• 1) Gives an idea about what to do? Where to do? When to do? How to do?
• 2) Gives an idea about men, material & money required
• 3) Helps to get the fund for business from outside source

There are lot of business plan but followings are most commonly required

Start-up Plan: This is a very simple plan and gives basic idea of the business. While starting a new business this plan would be used normally for small scale business. This plan includes nature of business, place, an estimated investment and man power required a brief analysis of market.

At Haricare we prepare Start-up plan beautifully at less cost. Person starting a new business can provide us a brief explanation of business which he/she is going to start. Further we will prepare the start-up plan as required.

Strategic Business Plan: This is more detailed plan normally used for middle or even large scale business. This includes nature of business, investment required, estimated financial analysis like cash flow statement, Profit and loss statement, man power and technology required, place and material required, operational system and hierarchy, market analysis like present scale, competition and future opportunities, SWOT analysis etc.,

At Haricare we prepare strategic business plan. While preparing we consider all major aspects and will use available source in the public.