This information is relevant for those clients that are receiving a full-service (Launch, Go, Grow) bookkeeping service.
Our startup level bookkeeping service is aimed at providing you a timely, accurate service on a weekly basis.
When you join Standard Ledger, we'll confirm which day of the week we'll be processing your books (typically Thursday/Friday so you've got an up to date position for the following week), and who your Service Manager is.
Note that while we may review any submissions you've done or queries you may have raised during the week, this is not guaranteed.
- During the week you should submit any invoices/receipts or expenses via the Receipt Bank App or email service.
- On your nominated processing day, we'll a) review all paperwork through Receipt Bank b) review all bank account transactions; and c) raise any queries we may need clarification for.
- Note that there may be times when receipts have been submitted into Receipt Bank by you that do not immediately appear in Xero ... until our next weekly processing cycle
- There may also be times when receipts are submitted and published across to Xero before they actually hit your bank account. These receipts will appear as "Bills to be Paid", and may therefore sit there until the following weekly processing when we again reconcile your bank account.
- Occasionally (most commonly if someone submits a receipt as an invoice that should have been an expense claim) you'll see receipts as Bills to be Paid that should have been an expense. We cross-check these periodically and query these as necessary ... or if you happen to see them, feel free to let us know.
- We will raise any bank transactions queries directly within Xero, using the Discuss tab, and ask that you respond through this same tab so we can allocate
- You will receive an email from your Customer Service Manager each week that will highlight that we've completed your processing and whether there are any queries we need a response on.
- Each week, we recommend that you login to Xero (ideally at the start of the week after our processing has been complete) and a) review/respond to any queries; b) review any payables that may be due; and c) review any customer invoices that are overdue and which you could follow up for collection
- Each month, we recommend that you login to Xero and review the P&L and Balance Sheet reports at a minimum as well as any Actual vs Budget reporting you may have in place.
If you have any questions please refer to our asking a question FAQ and one of our team will respond.
- We can only maintain your books if we have information back from you on a timely basis. This means that when we've asked for you input on any particular transactions, we'll need a response to this to finalise the treatment.
- We sometimes get asked where our bookkeepers are based. In order to provide a start-up friendly cost-effective price we use offshore bookkeepers for our core bookkeeping service. We have consciously chosen to partner with larger firm(s) to ensure a high quality of service. Our Customer Service Managers whom you receive your weekly emails from are based in Australia.