K.I.S. Accounting Systems

K.I.S. Accounting Systems is a team of Tax Agents, Accountants, Consultants, Trainers and Bookkeepers who are Accounting Software Specialists.

We provide remote and onsite support, training, bookkeeping, accounting & Taxation and BAS services.

Contact Us

BOOKKEEPING

We keep your books tidy; giving you the time to get on to bigger and better things. Read more

ACCOUNTING

We can do your taxes and activity statements: or get them prepared for easy reporting.

TRAINING

Training Australia wide in Reckon, QuickBooks, XERO, and MYOB. Read More

SUPPORT

Get all the accounting software support you need with hands-on help. Read more

Inviting a New User into Your Organisation

You need Manage Users access to be able to invite a user into your organisation.   Go to Settings > General Settings > Users and click Invite a User to enter a new user's details.     Name & email addressEnter the name and email address of the user you want to add. The Xero invitation will be sent to the email address you enter.   Access to the accountsChoose a role for the user. The role sets the level of access they have to your Xero organisation to view and enter information or make changes. We recommend you give your accountant or bookkeeper the Adviser user role. This role lets them...

Recording BAS Payment

Step 1 Enter the payment of the BAS as follows, breaking it up line by line to it’s appropriate accounts. Notice that the PAYG Withholding is entered using the “General Clearing Account” The GST (both the Collected and Paid amount 1a and 1b) are entered using the “TAX PAYABLE” Account. If you pay a PAYG Instalment (5a from the BAS) (there is none in the transaction pictured below), you would enter this against an Account called “PAYG Instalment” set up as a CURRENT ASSET Account in the Chart of Accounts. Similarly if you claim a Fuel Tax Credit (7D from the BAS) you would enter this against...

Set up a Product or Service: Service

From the Product/Service information window, enter a name for your service. This can be simple ie. Labour Hire, Gardening Services or very detailed ie. Traffic Controller – M-F (8am-6pm). When choosing the complexity of the name you will use consider Enter an SKU if needed. Note: You will probably only need this if you are setting up an Item for a Point of Sale (POS) system. Otherwise leave it blank. Insert an Image if required. This is completely optional. Again, particularly useful when setting up a Point of Sale (POS) system. To insert a picture from your computer, click on the pencil...

Finance Options

Note: This is not advice. Please look at it as a guide only and get specific advice from your own Tax Agent or Lawyer. Question: I am Cash Based for GST. I need to buy a new car (or piece of business equipment). What is the difference between a Lease a Hire Purchase or a Chattel Mortgage? And how do I treat them in my accounting software?   a)        CHATTEL MORTGAGE For a business that is cash based for GST a Chattel mortgage is a very good option to investigate, as you are able to claim the GST on the purchase of the car/equipment (for the business % of use) up front at the time you make...

How Much Do I Put Away For GST?

HOW DO WE CALCULATE FOR GST? The GST is not just 10% of sales. Tt is 10% of sales, less 10% of the purchases you make that have GST on them. The easiest way and the way I do it for myself, is just see how much GST you end up paying this first quarter, and divide it by 13 and put that much aside each week. If you think your turnover is improving then maybe add a little bit more - you can also reassess this each quarter. I have some clients who make sure that their bookkeeping is totally up to date, accurate and reconciled every week and do a tax summary report and transfer the exact amount...

Customize your icon bar

You can customise your Icon (Shortcut) bar for quick and easy data-entry. This is one of the first things I do when I work in a new client's file. It makes the work I do much quicker and easier and is well worth the few minutes it will take to do. To customise your icon bar do the following: Right click anywhere on your icon bar and choose Customise Icon Bar Choose Add and select from the list any functions that you regularly use Once you have added all the icons you require from the list you may want to re-organise them into a more useful order. To do this select the Diamond to the left of...

What Are The Main Reports I Should Be Concentrating On?

WHICH ONES SHOULD I BE LOOKING AT REGULARLY? Here are a few common reports that most people use but it is up to you to go and “play” in the reporting section of your accounting system and find the reports that suit your business. Once you have found the reports you like you can modify them to suit you.   Profit & Loss - Profit & loss standard report This report summarises your income and expenses for the month, so you can tell whether you're operating at a profit or a loss. The report shows subtotals for each income or expense account in your chart of accounts. The last line shows your net...

Set up a Product or Service

Log in to QuickBooks Online (https://quickbooks.intuit.com/au/) Choose SIGN IN (top right of the window) and select PRODUCTS AND SERVICES from the drop-down list This will open the PRODUCTS AND SERVICES screen. From here choose NEW to set up a new product or service. Set up a PRoduThis will bring up a window asking you to SELECT A TYPE. There are four types you can choose from. At this point, the set up procedures vary depending on which type of Item you have chosen to set up. Continue to the appropriate procedure...

Uncleared Transactions

Once you reconcile an account ALL transactions should be ticked off and there should not be transactions sitting there unreconciled. If there is, then you need to go back into the Reconciliation and choose to reconcile to the same date as the "Last reconciled date", with the Closing Balance entered the same as the Opening Balance. Once the Reconciliation opens up you need to Tick the box "Hide Transactions after the Statements End Date" (at the top right of the reconciliation). This will leave you with all of the Uncleared transactions that shouldn't be there as the account has been...

Reversing a Bill From a Locked Period

   To clear an old bill from accounts payable that shouldn’t still be there, and is dated in a Closed period, do the following:   STEP 1:    Do a journal entry to reverse them. Date the journal the 1st day of the quarter that is NOT CLOSED. The journal entry would be:               Debit                                                                                                    Credit Accounts Payable       (THE TOTAL AMT OF THE BILL)        (you must put the supplier name against this line) ...

Services We Provide

 

  • Training - one on one & classroom.
  • Remote Accounting Software Support
  • BAS Preperation & Lodgement. 
  • Pre-Tax/End of Year Preperation
  • Bookkeeping 
  • Setup & Initial Training
  • Health Checks on your Accounting Software. 
  • Management Reporting. 
  • Software Sales and Advice 
  • Support and Membership Opportunities for other independant bookkeepers.
  • Support and Membership Opportunity for other Accountants and Tax Agents. 
We can provide Reckon Accounts, QuickBooks, XERO and MYOB: - Training, Bookkeeping, Accounting, BAS, Taxation and Support to clients in: Wollongong (Illawarra); Sydney; South Sydney; North Sydney; Northern Beaches; Nowra; South Coast; Southern Highlands; Batemans Bay; Newcastle; Dubbo; Wagga; Bathurst; Mudgee; Brisbane;, Melbourne; Hobart; Darwin; Perth; Adelaide; Rockhampton;, Toowomba; Cairns; Canberra and anywhere else in Australia.

This business is owned by Heather Kennedy who is a Registered Tax Agent; Public Accountant member of the IPA; Accredited Consultant with Reckon; a Certified QuickBooks Online Pro Advisor; a partner with MYOB and an Advisor with Xero. 

Ph: 1300 556 360