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A Breakdown of MAS Business Services and The Importance of Return Preparation, Reporting and Lodgements

M.A.S Partners has been providing expansive and quality accounting services for small businesses across Sydney for over 55 years. Part of the compliance services includes return preparation, reporting and lodgements to make sure your small business is completing all necessary requirements in an organised and clear manner to make it easier for you in the long term.

Return Preparation
To ensure an efficient tax return process when tax time comes, continuously monitoring and documenting accurate financial records throughout the financial year is imperative. We will organise your monthly, quarterly and annual statements to provide accurate information to the Australian tax department.

Reporting
At M.A.S Partners, the original accountants for small businesses in Sydney, we pride ourselves on organised structures such as regular reporting to keep on top of all business performance. Our accounting firm provides clients with a professional folder separated into quarterly and annual categories with profit and loss statements, balance sheets and depreciation schedules which significantly contributes to running a successful small business. This allows both our team and client to pick up on any problems that may occur and maximise your business performance.

Lodgements
Accurate and timely lodgement of either business or personal taxes is essential. Through utilising the Australian Tax Office Electronic Lodgement System combined with our years of experience in electronic lodgement, we assure you that all of your small business tax elements are collated and completed on time.

Payroll
Managing employees and payroll can be difficult to navigate the application of penalty rates, leave entitlements and superannuation which are elements that call for constant observation. We assist with all aspects of payroll using a seamless process of a cloud-based program called Xero. Our team is able to record wages, prepare and lodge workers compensation, calculate monthly and quarterly superannuation calculations, prepare pay slips and calculate payroll to name a few. By taking care of your employees, we’re taking care of your business.

Accounts Payable and Accounts Receivable
After establishing the Xero account, all invoices are then entered into the cloud-based software on a regular basis. Our team is able to uniquely tailor our processes to ensure we are meeting your individual business needs.

Bank Reconciliation
The variety of bank reconciliation services that we can provide strive to highlight and correct any discrepancies that can occur. This is achieved through monthly bank reconciliation utilising the data from Xero Bank Feeds to determine any bank errors and the cash book is reconciled against statements to confirm the bank fee statements and determine if your business has been incorrectly charged for any items.

Contact Us

There are many difficult components in running a small business, leave the complex and time-consuming work to M.A.S Partners. Our vast experience with an array of industries allows us to be the best at what we do. Contact Australia’s original accounting firm, M.A.S Partners, to discuss how we can help you navigate your small business accounting and the services we offer on (02) 9211 5000.

 
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