Initial Set up of your back office systems

The first few weeks around the opening of a new business are exciting and often quite chaotic as the new owners get on top of what they have to do.

That’s why it’s so important to have strong systems in place to be sure the back of house (admin) is set up right from the start. The key areas we recommend include:

Pre Trading:
ATO Registrations, including:

  • TFN, GST, BAS, PAYG and Single Touch Payroll

  • Superannuation Default Fund

Business Systems setup, including:

  • Xero / QBO file

  • Chart of Accounts

  • Establish Bank Feeds, Bank Rules if poss

  • Set up of Hubdocs Data Capture Technology and internal Record Keeping systems

  • Asset Register: Create Asset Register, record all asset purchases

Pre-opening set up of Accounting Systems
Establish supplier payment systems, including:

  • Identify key suppliers, set up in Xero and Hubdoc

  • Set up supplier and payments record keeping, accounts payable management, batch payments process.

Payroll compliance matters

Ensure employee payroll setup correctly

  • Review Single Touch Payroll requirements

  • Establish weekly payroll processes

  • Establish Super payment practices, ensure comply with Superstream

  • Register for Workers Compensation

Let us know if you’d like a hand setting these systems up