Running a business can mean keeping track of far more than customers and day-to-day operations. Bookkeeping, BAS, payroll, tax obligations, cash flow and financial reporting can all compete for an owner’s attention.
If you’re researching professional support for these responsibilities, Bookkept is one Melbourne business worth knowing about.
Bookkept is a Melbourne-based accounting and bookkeeping firm providing services to small and medium businesses and sole traders. Its offering covers day-to-day bookkeeping and compliance as well as tax, payroll, cloud accounting and business advisory services.
As with any accountant or financial services provider, it is worth comparing your options and confirming which services, qualifications, fees and working arrangements are appropriate for your particular business.
Why Bookkept May Be Worth Considering
One useful starting point when comparing accounting firms is understanding exactly what they can handle.
Bookkept offers bookkeeping and BAS services alongside accounting and tax, payroll, accounts management, tax compliance, business advisory and CFO services, cloud accounting setup and SMSF support.
That breadth may be useful for business owners who would prefer to investigate one firm for several related requirements rather than finding separate providers for bookkeeping, payroll, tax and financial reporting.
Bookkept states that it works with businesses across Melbourne as well as clients Australia-wide.
Bookkept’s Accounting and Bookkeeping Services
Bookkept’s services cover several common areas of business finance and administration.
For bookkeeping, the firm provides cloud-based bookkeeping as well as BAS preparation and lodgement. Its accounting and tax work includes business and individual tax returns, financial statements, company and trust accounting and tax planning.
Payroll services include payroll processing, Single Touch Payroll reporting, superannuation and PAYG management. Bookkept also provides accounts payable and receivable support, debtor management, invoicing and purchase reconciliation.
Businesses requiring more strategic financial input can investigate Bookkept’s business advisory and CFO services, which include cash flow forecasting, budgeting and business planning.
The firm also provides SMSF accounting, tax and audit support.
Cloud Accounting and Technology
For businesses already using cloud accounting — or considering moving away from manual financial administration — software experience can be an important point to compare between providers.
Bookkept works with platforms including Xero, MYOB Advanced Business and QuickBooks Online and offers cloud-accounting implementation, optimisation and team training.
The firm identifies itself as a Xero Gold Partner and MYOB Gold Partner.
For Melbourne businesses researching accountants, it may therefore be useful to ask Bookkept how its preferred technology would integrate with the systems already being used in your business, and whether changing software would actually be necessary.
Fixed Monthly Pricing
Accounting costs can be difficult to compare when firms charge differently for individual tasks or additional work.
Bookkept uses a fixed monthly pricing model, with packages customised according to a client’s requirements.
Its supplied example pricing starts from $220 per month for a sole trader or contractor package, $440 per month for an example small hospitality business and $660 per month for an example established firm with multiple accounts and employees.
These are examples rather than a quote for every business. The exact services required can vary significantly depending on factors such as business structure, transaction volume, payroll, number of employees and reporting requirements.
Bookkept states that its packages include end-of-year tax and financial statements.
If you’re comparing providers, ask for a current proposal setting out exactly what is included in the monthly fee and whether there are circumstances where additional charges could apply.
Who Does Bookkept Work With?
Bookkept works across a broad mix of industries.
These include retail, trades and construction, medical practices, dentists, physiotherapists, pharmacies, doctors, mechanics, electricians, plumbers, restaurants, cafés and hospitality businesses.
Its client base also includes gyms, lawyers, psychologists, IT contractors, startups, e-commerce businesses and manufacturers.
This industry range may be particularly relevant to Melbourne Guide readers because many of these are the same kinds of local businesses and professional services people encounter throughout Melbourne.
Industry experience is still only one consideration. A café with multiple employees, for example, can have very different accounting requirements from a sole trader, medical practice or growing e-commerce business. Ask about experience with businesses similar in structure and complexity to yours.
Registrations and Other Details to Check
Qualifications, registrations and professional standing are important areas to investigate when selecting an accountant or bookkeeper.
According to the information supplied about the firm, Bookkept is a Registered Tax Agent and ASIC Registered Agent, in addition to its Xero Gold Partner and MYOB Gold Partner status.
Bookkept is led by principals Daniel Heness and Brendan Thorp, with services spanning bookkeeping, taxation, payroll, SMSF, business advisory and cloud accounting.
The firm also reports a 5.0 Google rating based on more than 89 reviews.
These details can provide useful starting points for your research, but business information and review counts can change. Before engaging Bookkept or another provider, verify current registrations, service inclusions, pricing and other information that matters to your circumstances directly with the relevant business and, where appropriate, the relevant registration body.
Is Bookkept the Right Fit for Your Business?
There isn’t one accounting firm that will necessarily suit every Melbourne business.
When comparing Bookkept with other accountants or bookkeepers, consider what you actually need now and what you may need as the business develops.
That might include bookkeeping frequency, payroll requirements, BAS and tax lodgements, accounting software, financial reporting, cash flow forecasting or access to ongoing business advice.
It is also worth understanding who will manage your account, how frequently you can communicate with them, what is included in the quoted fee and how additional work is handled.
Bookkept offers a free consultation, which provides an opportunity to discuss these questions and determine whether its services and approach are suitable for your business.
