Shellys Bookkeeping Frequently Asked Questions

Shellys Bookkeeping provides a number of services to assist your business with your bookkeeping:

  • Receipt and entry of supplier invoices
  • Reconciliation of bank accounts, payroll accounts etc
  • Follow-up of debtors to improve cashflow
  • Preparation of reports to help monitor and manage the performance of your business
  • Setup, maintain and prepare payroll runs
  • BAS facilitation

See our Services Page for a full list

Getting Started with Shelly’s Bookkeeping

When we engage a new client, there are a number of steps we run through to ensure you get the best value for your business.

Shelly’s Bookkeeping will arrange for an initial meeting, this is usually on your premises.
We will discuss your expectations and what accounting systems you are using. We are certified in most accounting systems, however we recommend Xero as an accounting system due to its many features and extensive add-on community.

We can provide training in your chosen accounting systemShelly

Shelly’s Bookkeeping can assist you to move from your existing system whatever it is – even spreadsheets to Xero or another accounting software application.

We can provide training in your chosen accounting software if required. If you are a new user, we will provide a series of cheat sheets to help you get started.
If you are already using a cloud provider for your accounting software, it is as simple as inviting us in as a user.

We will evaluate the amount of catch up work required if any and can quote you an agreed number of hours for this piece of work separate from the usual regular ongoing engagement.

Once this is agreed we will formalise our agreement with a client contract and start providing our bookkeeping services to your business.

Shelly’s Bookkeeping will maintain regular contact with your business and accountant to ensure your bookkeeping is always up to date and to maintain compliance.

We understand that with modern real time accounting systems such as Xero or Quickbooks quarterly updates are no longer adequate. We will build a close relationship with your business and your accountant and are available to work through your concerns any time.

Cloud accounting systems allow us to work offsite, which means you save office space and costs of additional PC’s and desks. However we are available to work on your premises if required.

We will also schedule periodic reviews and meet with you to ensure that our service is meeting your needs and expectations.

Shellys Bookkeeping has many years of experience in research and has a strong mathematical background meaning she is extremely efficient and methodical. You can read more about our principal here

Thank you for considering Shelly’s Bookkeeping, we look forward to building a relationship with your business.

Some common bookkeeping problems that we often see with new clients are:

  • Bank accounts and Credit Card accounts do not reconcile (match) the balances on your statements.
  • Bank fees are deducted from income on invoices not added as an expense.
  • Petty cash never reconciled.
  • Trade debtors and trade creditors do not match the balance sheet.
  • Paid invoices are still showing as outstanding.
  • Incorrectly lodged BAS.
  • Payroll is incorrect and inaccurate.
  • Claiming GST incorrectly on mixed items especially on car registration.

Shelly’s Bookkeeping has a number of Services that can assist you to fix any of these errors.


We can also provide personal and customised Training to prevent them occurring again.

Please Contact us if you would like further information

Is your business ready for end of financial year?

  • Record transactions regularly throughout the year, including all sales, purchases, payments and receipts
  • Chase down any outstanding debts. If you aren’t able to recover the debts, then write them off as bad debts to claim a tax deduction
  • Consider your inventory to see whether you can write off or write down the value of any stock. Review your investments—can any be sold to offset losses or have any other positive impact at tax time?
  • One strategy business owners can use is to pre-pay for services and supplies in order to be able to claim a tax deduction. In fact, bringing forward tax deductible expenses and deferring income can work to reduce your taxable income for the financial year.
  • When it comes to superannuation, make sure you are on top of all your superannuation obligations. You will receive a deduction for all employee superannuation obligations which you pay. As super is such a tax-effective method of investing, you may also want to look at investing your personal assets in super.
  • The end of a financial year is also the ideal time to plan for the future. Develop realistic profit and loss forecasts for the next 12 months, and set business goals for the next five or ten years. Review your insurance cover—are you protected against all the risks facing your business? Do you have an effective risk management plan in place?
  • Backup your accounts data if its not already in the cloud
  • Reconcile your bank accounts
  • Provide your accounts file and all supporting documentation to your accountant
  • Once all the necessary year end adjustments have been made, lock the accounts for that financial year to keep the data accurate

What is a valid Tax Invoice ?

An entity that is registered for GST that makes a sale and charges GST is required to issue a tax invoice for sales. A valid tax invoice for less than $1,000 must have the following:

  • The document is intended as a tax invoice or states “Tax invoice”
  • The name of the supplier
  • The ABN of the supplier
  • The date of issue of the invoice
  • A brief description of the goods or services sold
  • The GST amount payable on the sale, or a statement such as “Total price includes GST”
  • A tax invoice for sales more than $1,000 should also include the buyers identity or ABN

If a contractor does not have an ABN or does not supply one, withholding tax at 49% of the payment should be kept


Naturally you can Contact Shellys Bookkeeping if you would like us to take care of it for you