Preparation & Review Of Accounts & Tax Returns
Olive tree has been servicing the accounting firms in their accounting and tax returns preparation functions.
Our team is familiar with various geography specific accounting practices and local statutory laws/ requirements. Our accounting team comprises Chartered Accountants (CA) and highly experienced professionals in accounting domain.
Olive Tree is currently servicing all states in Australia with dedicated, qualified and 3 years plus experience team of professional accountants.
Our book keeping services include the following
Review of client details
Review work allocation file detailing nature of work to be done and time allocation for that particular job.
Review previous year’s trial balance and other work papers
Review current year’s transactions (either scanned documents, MYOB or QuickBooks)
Bring in client data into reporting software
Prepare adjustments based on review of trial balance and client data
Compile working paper, and journal adjustments
Cash & fund flow statements
Management reports
Parent company reporting
Inter-company reconciliations, Consolidated financial statements
Payroll
Accounts preparation for audits
Financial ratios & comparative analysis
Assistance with business decisions
Accounts preparation for due diligence
Bank & lender relationship management
Accounts payable / receivable
Bank and cash reconciliation
General ledger
Fixed asset management
Records management
Inventory accounting
Basic financial statements
Preparation & Review of Accounts & Tax Returns Services
Bookkeeping & Quarterly BAS Returns
- Input of sales, purchases, expenses with appropriate GST codes
- Input of bank entries and reconciliation
- Debtors and Creditors reconciliation
- Petty cash journals
- Monthly closing journals like depreciation, Hire Purchase interest etc.
Finalization of Year END Accounts
- Import of client data in to reporting software
- Review of General Ledger
- Reconciliation of Balance sheet items with the supporting
- Review of Profit & Loss items with the supporting
- Posting of Queries and updating of accounts based on query resolution
Entity / Individual Tax Returns and FBT
- Import / Input the financial information into tax return software
- Verify the information in the tax returns
- Application of various tax offsets or rebates as applicable
- Review the tax estimate and worksheets (validation errors)
- Calculation of FBT / Employee contribution.