FAQ

Have questions? Our FAQ hub has the answers for you.

Our FAQ hub has the answers for you

Whether you’re a tax or public accountant needing compliance assurance, or a business owner looking for cost savings and expert support, we explain how BISTEC Bookkeeping delivers accuracy, security, and scalable solutions tailored to Australian standards.

SECTOR 1:

Tax Accountants & Public Accountants

  • Our chartered accountants are specifically trained in Australian Accounting Standards (AASBs) and tax regulations. We maintain current subscriptions to Australian tax databases and regularly update our procedures to reflect ATO changes. All work is reviewed by senior CAs with Australian compliance experience before delivery.

  • Our team consists of Chartered Accountants (CA Sri Lanka) with additional Australian tax law certification. Many have previously worked with Australian clients or firms. We require ongoing Australian tax law training and maintain partnerships with Australian CPA/CA networks for technical updates.

  • We scale our team specifically for Australian tax season, offering 24-48 hour turnaround for standard bookkeeping work and same-day service for urgent requests. Our time zone advantage means we work while you sleep, dramatically reducing turnaround times.

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  • We maintain ISO 27001 information security standards with encrypted data transmission, secure cloud servers in Australia, and comprehensive confidentiality agreements. All staff undergo background checks and sign Australian-standard confidentiality agreements. We can provide detailed security documentation for your review.

  • We have dedicated urgent response protocols with guaranteed 4-hour acknowledgment during Australian business hours. Our team leaders have authority to reallocate resources immediately for urgent work. We maintain buffer capacity specifically for emergency requests.

  • We can communicate directly with your clients via phone, email, or video conference during Australian business hours. All communication follows your firm's protocols and branding guidelines. We maintain detailed communication logs for your records.

  • Absolutely. Our team is trained specifically in Australian BAS preparation and GST reconciliation requirements. We use current ATO-approved software and follow all lodgement protocols. We can also handle PAYG, FBT, and other Australian tax compliance requirements.

  • We maintain professional indemnity insurance and offer a comprehensive error correction guarantee. Any errors are corrected immediately at no charge, and we implement additional review procedures to prevent recurrence. We provide detailed error reporting and corrective action plans.

  • We subscribe to multiple Australian tax and accounting update services, participate in webinars, and maintain relationships with Australian professional bodies. Our technical team reviews all changes and updates procedures monthly. We provide change impact summaries to our accounting firm partners.

  • Yes, we manage full payroll processing including award interpretation, penalty rates, leave calculations, superannuation contributions, and PAYG withholding. We're familiar with modern awards and enterprise agreements, and can handle Single Touch Payroll (STP) reporting.

  • We maintain a flexible workforce model with trained backup staff ready to scale operations by 300% during peak periods. We cross-train team members and maintain relationships with qualified contractors to ensure capacity availability when needed.

  • We have overlapping coverage with Australian business hours (early morning and late afternoon Sri Lanka time). All work undergoes multi-level review, and we use collaborative platforms for real-time quality monitoring. Time zone differences actually enhance our review processes.

  • Yes, our working papers are prepared to Australian auditing standards with proper documentation, cross-referencing, and evidence trails. We understand ASAE requirements and can customise documentation formats to match your firm's standards.

  • We conduct comprehensive discovery sessions covering business operations, reporting requirements, software preferences, and timeline expectations. We create detailed service level agreements and assign dedicated account managers to ensure consistency and relationship continuity.

  • We staff Australian business hours with senior team members and provide multiple communication channels including direct phone lines, video conferencing, and instant messaging. Response times during Australian business hours are guaranteed within 30 minutes for urgent matters.

  • Yes, our chartered accountants prepare comprehensive management reports, financial statements, and analytical reports. We can customize reporting formats to your specifications and provide commentary and insights on financial performance and trends.

  • We maintain redundant staffing with cross-trained backup personnel for every client account. Our systems include automated handover protocols, comprehensive documentation, and emergency contact procedures. We guarantee service continuity even during local holidays or emergencies.

  • Our pricing is typically 40-60% lower than comparable Australian services while maintaining higher qualification levels (Chartered Accountants vs. bookkeepers). We offer transparent pricing with no hidden costs and flexible engagement models including hourly, monthly, or project-based arrangements.

  • Yes, we can provide references from current Australian accounting firm partners (with their permission). We also maintain case studies showing cost savings, efficiency improvements, and client satisfaction metrics from our existing partnerships.

SECTOR 2:

SME Business Owners

  • Typically, our clients save 50-70% compared to hiring full-time in-house staff when considering salary, superannuation, leave entitlements, training, and software costs. A $60,000 in-house bookkeeper costs approximately $75,000+ annually, while our comprehensive service starts from $1,500-3,000 monthly depending on transaction volume.

  • Absolutely. Our team is specifically trained in Australian tax obligations including GST registration and reporting, BAS lodgements, superannuation guarantee calculations and payments, PAYG withholding, and Single Touch Payroll reporting. We ensure full compliance with ATO requirements.

  • We can typically bring books current within 2-4 weeks depending on the backlog volume. We use catch-up specialists and dedicate additional resources to restoration projects. Our time zone advantage allows us to work extended hours to accelerate the process without overtime costs.

  •  Yes, we provide phone support during Australian business hours (9 AM - 5 PM AEST/AEDT) with guaranteed response times. You'll have direct contact details for your account manager and access to our urgent response line for time-sensitive matters.

  • We typically recommend Xero for most SMEs due to its cloud-based accessibility, strong Australian compliance features, and integration capabilities. However, we're proficient in MYOB, QuickBooks, and other platforms. We provide complete setup, training, and ongoing support for your chosen system.

  • Our payroll specialists are trained in Australian award classifications, penalty rates, overtime calculations, and leave entitlements. We handle everything from timesheets to pay runs, superannuation contributions, PAYG withholding, and Single Touch Payroll reporting to the ATO.

  • Yes, we provide monthly business reviews explaining your financial position in plain English. We highlight key performance indicators, cash flow trends, and potential issues. Our chartered accountants can provide strategic insights and recommendations for business improvement.

  • We maintain bank-level security with encrypted data transmission, secure Australian-based cloud servers, and strict access controls. All staff sign comprehensive confidentiality agreements and undergo background checks. We're happy to provide detailed security documentation and can work within your existing security frameworks.

  • Our chartered accountants provide strategic financial planning including cash flow forecasting, growth scenario modeling, and expansion feasibility analysis. We can assist with business planning for loans, investor presentations, and scalability assessments.

  • Yes, we prepare detailed 12-month cash flow forecasts and annual budgets with monthly variance reporting. We help identify seasonal patterns, plan for major expenses, and optimise working capital management. Our forecasts integrate with your business planning processes.

  • Our comprehensive service includes bank reconciliations, accounts payable and receivable management, invoicing, expense categorisation, GST tracking, and monthly reporting. We can also handle customer communications, payment follow-ups, and supplier management as required.

  • We provide quarterly tax planning reviews, identifying deduction opportunities, timing strategies, and cash flow planning for tax obligations. Our chartered accountants work with your tax agent to optimise just during tax season.

  • Yes, our chartered accountants prepare due diligence packages, business valuations support, and investor-ready financial statements. We can clean up historical records, normalise financial statements, and prepare documentation that maximises business value for sale or investment.

  • We offer startup packages including business registration assistance, accounting system setup, compliance framework establishment, and founder education. We provide mentoring on financial management best practices and growth planning from day one.

  • Our team includes specialists experienced in various industries including construction (progress claims, retention management), retail (inventory tracking, POS integration), and hospitality (tips, award complexity). We adapt our processes to industry-specific requirements and regulations.

  • Yes, we work with most common business systems including POS systems (Square, Lightspeed), CRM platforms (Salesforce, HubSpot), and inventory management systems. We can establish automated data feeds to minimise manual entry and ensure accuracy.

  • We maintain rapid response capabilities for urgent reporting needs. Bank-ready financial statements can typically be prepared within 24-48 hours. We understand bank requirements and prepare reports in formats that facilitate loan approval processes.

  • We maintain month-end closing procedures ensuring books are current and accurate year-round. We coordinate directly with your tax accountant, providing working papers and documentation in their preferred format. This eliminates last-minute rushes and reduces accounting fees.

  • Yes, we assist with business structure selection, ABN and GST registration, business name registration, and establishment of compliance frameworks. We ensure you're set up correctly from the start to avoid future complications and costs.

  • Our chartered accountants provide strategic business advice including performance benchmarking, cost optimisation, growth planning, and operational efficiency improvements. We act as your virtual CFO, providing insights that drive business success beyond just recording transactions.

Your bookkeeping shouldn’t hold you back, it should move you forward.

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