Services

Cloud Accounting 

Do you lack the time, talent, technology, and resources needed to manage the financial aspects of your business and therefore your financial future?

UHY Haines Norton understands that many businesses are more effective in operational areas and that the accounting and finance function is often viewed as a necessary evil. We can assist you in the deployment of enhanced technologies, refined processes, and highly skilled resources to get your finance and accounting functions in order. We can take over time-consuming financial tasks and provide you with timely and accurate information so you can focus on the future of your business and its strategic goals.

Our UHY Haines Norton team takes a collaborative approach to digitally transform your back office and provide a variety of services to add value to your business, including:

  • Virtual CFO services
  • Cloud accounting solutions and deployment
  • Outsourced cloud services – bookkeeping, payroll and accounting

The Virtual CFO is a new way for small to medium businesses to obtain CFO support they need but may not necessarily be able afford or justify.

If you engage UHY Haines Norton as your Virtual CFO, you will have access to an experienced financial professional at a better or more reasonable cost than a full-time CFO. The Virtual CFO services UHY Haines Norton provide differ from business to business based on the requirements of that business, however, the role of a Virtual CFO generally comprise:

  • Assuming all the duties of a traditional CFO, but working remotely and on a part-time basis;
  • Monitoring the financial health and well-being of businesses using cloud accounting technology, mobile technology and modern data analytics; and
  • Offering financial insight and guidance on all business decisions and issues.

A Virtual CFO san make a big difference to a small to medium business, by:

  • Creating budgets and forecasts;
  • Pinpointing problem spending by highlighting trends in the market; and
  • Validating or discouraging business decisions with financial well-being in mind.

With UHY Haines Norton acting as a Virtual CFO, UHY Haines Norton can assist businesses maintain their financial goals and keep their business realities clearly in sight.

Depending on business requirements, UHY Haines Norton can also assist by providing back-office functions such as bookkeeping, tax and accounting services (see below) in conjunction with the Virtual CFO service for business clients.

What is cloud accounting?  The basis of cloud accounting is that instead of businesses installing and maintaining their accounting software on servers and/or computers located within office premises, their financial data is stored and accessed in the ‘cloud’ via secure servers run by cloud accounting software providers.

Access to financial data is via a web browser and is restricted to whom permission is granted.  Most cloud accounting providers have ‘two factor’ authentication and advanced encryption in order to gain access to financial data and dedicated data security staff, making cloud accounting often safer than traditional software.

If you would like UHY Haines Norton to undertake Virtual CFO and/or bookkeeping, tax and accounting services for your business or simply would like the ability and flexibility to work from any location at any time as long as you have WIFI or an internet connection, then cloud accounting software offers several benefits that will assist your business by providing you with the ability to:

  • Collaborate with your Virtual CFO, bookkeeper and/or accountant online from any location and at any time on any device (ie PC, laptop, iPad or mobile);
  • Generate and send invoices or pay accounts;
  • Share data, making it easy to synchronise and transfer data between different systems; and
  • Obtain real-time reporting and analytical features to assist in gaining insight into the financial condition of your business.

Cloud accounting software automatically updates for changes in the accounting and taxation environment, such as new tax rates or legislative amendments and is maintained by the cloud accounting software provider.

UHY Haines Norton can assist businesses in evaluating and selecting the best-in-class cloud accounting solutions within the small to middle market sector for their needs. Our systems and tools enable us to provide greater operational and financial efficiencies, which allow us to deliver the next level of service to our clients. Our cloud-based accounting platform recommendations provide integrated solutions which help automate and streamline business accounting and processes.

UHY Haines Norton are independent and not paid commissions. Our focus is on finding the right cloud accounting program for your business needs.  Some of the most popular service providers within the small to middle market sector include:

  • Xero
  • Intuit Quickbooks
  • MYOB
  • Reckon

Each of the above cloud accounting program providers offer a range of scalable accounting modules to meet the needs of your business now, and in the future.

UHY Haines Norton can not only evaluate and select a suitable cloud accounting program for your business needs but our professional accounting staff can also assist in deploying the software and training in order for you to obtain the best from the cloud accounting software implemented.  The evaluation and selection also includes any add-on software that may be beneficial to your business needs such as Receipt Bank or Expensify.

While we believe some businesses would greatly benefit from UHY Haines Norton’s Virtual CFO service, there are a number of businesses that may require UHY Haines Norton’s outsourced cloud services on a full-time or part-time basis.  Each of the above services can be undertaken by UHY Haines as standalone services, collectively or in conjunction with the Virtual CFO service.

For example, your business may require UHY Haines Norton to under the bookkeeping and payroll function while another business may only require the payroll function.

We understand that each business has different needs and we will work with you to understand your requirements and then tailor a solution unique to your business.

The foremost benefit of using UHY Haines Norton’s outsourced cloud services is having a professional accountant performing the work, allowing you to spend more time growing your business and revenue, knowing that your back office functions are being taken care of by professionals.

UHY Haines Norton’s outsourced cloud services include:

Bookkeeping

UHY Haines Norton can professionally and expertly manage your bookkeeping function and take care of your business accounting ledgers to improve reporting accuracy and assist in running your business the correct way.

Outsourced cloud bookkeeping services that UHY Haines Norton can provide to transform your back office and your business, include:

  • Accounts payable and accounts receivable services;
  • Invoicing and other data entry;
  • Debtor management;
  • Reconciliations; and
  • Inventory accounting;
  • ATO management including activity statement preparation and lodgement;
  • Financial statement preparation and advisory services;
  • Payroll and attending to all payroll associated requirements such as reporting and payment for super guarantee, payroll tax, PAYG etc;
  • Basic reporting on a cycle as required by you; and
  • Basic cash flow preparation and analysis.

Payroll

UHY Haines Norton provide a broad range of payroll outsourcing services to both Australian and overseas businesses.  Our payroll specialists undertake all work in Australia and we do not outsource any client work overseas.

Our payroll outsourcing solution is a complete solution providing you with a dedicated professional specialist who will manage the processing, payment and reporting requirements for each payroll provide you with timely and accurate information so you can focus on the future of your business and its strategic goals.

Our payroll outsourcing includes the following services:

  • Establishing client payroll using the best-in-class payroll cloud software;
  • Establishing and maintaining employee payroll records;
  • Processing leave and advising when an employee exceeds their leave allowance;
  • Processing of employee expense claims for approval;
  • Calculation and payment of payroll based cycles as required by your business, that is weekly, fortnightly or monthly;
  • Ensuring that your business is SuperStream and Single Touch Payroll compliant;
  • Calculation of superannuation guarantee charge and organising payment on a cycle as required by your business;
  • Preparation and lodgement of activity statements including organising payment to the ATO;
  • Preparation and lodgement of payroll tax returns with Revenue NSW and organising payment;
  • Attending to renewal of Workers’ Compensation insurance and assisting with claims;
  • Calculation and payment of termination payments;
  • Assistance with employee salary packaging, salary sacrifice and other remuneration requirements including advice regarding any Fringe Benefits Tax implications;
  • Assistance with Human Resources and immigration issues and providing guidance; and
  • Providing calculations and reports in relation to all payments including reconciliations on a monthly or as required basis.

Implementing a cloud based accounting solution and using UHY Haines Norton’s outsourced cloud services will remove tedious manual processing, simplify tax time and improve reporting accuracy in your business.

We believe that by using UHY Haines Norton’s outsourced cloud services your business will benefit from the freedom and flexibility our solutions provide.

To find out how UHY Haines Norton can assist your business with our Cloud Accounting solutions, start a conversation by contacting us on 02 9256 6600.