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.

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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 a New Loan

  Step 1 – RECORD THE PURCHASE and SET UP THE LOAN   I always find it easiest to set up loans with a straight journal entry . a DEBIT to the appropriate FIXED ASSET Account (ie. GENERAL POOL ASSETS) for the GST exclusive cost of the Asset purchased with the CAG code to add the GST Make sure you put the Supplier name in the journal line so that the journal comes up when you do any reports or searches by the supplier. Then a DEBIT to the "LESS UNEXPIRED INTEREST" account (set up as a sub account of the Loan Liability Account) for the total amount of the interest over the period of the loan; a...

Reckon Accounts in the Cloud

A significant number of our clients are now using the Hosted (Online) version of Reckon Accounts. I am using it myself for our own accounting. Some of the advantages of using the online version of the product are: 1.  You can access your Reckon Accounts file from any computer, any where, any time. 2.    Your file is very well protected. It is being backed up every hour on the Reckon servers and is backed up in multiple locations and in multiple countries. Compare that to your own current backup process. 3.   You will be using the Enterprise version of Reckon Accounts. This is currently the...

Set Up a New User in Reckon Accounts (Hosted/Enterprise)

Go to COMPANY/USERS/SET UP USERS AND ROLES Enter the Admin Password This will bring you into the Users tab of the Users/Roles list window. Note: While you are in here delete any users that are no longer working for the business or are no longer using Reckon Accounts, to keep the list relevant To set up your new user, choose either NEW to set up a new user from scratch, or choose DUPLICATE to copy the existing set ups of another user (this is the easiest way to do it if you want to set someone up with the same role) From the Users and Roles window, USERS tab, Highlight the User that you want...

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: Inventory

From the Product/Service information window, enter a name for your product This can be simple and generic ie. Consumables, materials, or very detailed ie. “8.8 Precision High Tensile Bolts ”, “First Aid Training Manual”. 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 icon and navigate to the image you wish to use. Category and Class. These are optional items that can be used for Cost Centre and Location Tracking. Choose an appropriate Category and/or...

The Best Way For Recording Bank Deposits In A Business That Receives Mostly Cash

When you record your bank deposits of course it is very important if you have received cheques to match these correctly to the actual bank deposit. When you receive mostly cash it is not easy to match what you deposit to what you have received. Often you will have taken some of the cash and used it for petty cash items, so it never actually makes it to the bank. Some businesses still want to exactly account for their cash. This is often quite a good idea. When they do this they make it a practice to never use money from the till to make purchases, rather they have a separate petty cash tin...

Recurring Transactions

Using the Recurring Transactions feature in MYOB is a very easy way to significantly speed up your data entry process each month. I mean even if you are one of those rare people that love bookkeeping, do we really want to waste hours every year repetitively entering the same transactions over and over again?   Use the Recurring Transaction feature to save all the transactions that are repetitive as Recurring on a daily, weekly, fortnightly, monthly, or annual basis and more.   The sort of transactions that you can save as Recurring are loan repayments; Hire Purchase repayments; monthly...

Using Company Data Auditor

The Company Data Auditor can be found in MYOB in the Accounts Command Centre. It is a very useful tool and I strongly recommend that you run it prior to preparing any BAS or your end of year reports. It will not pick up every error that has been made, but it will certainly go a long way to pointing out to you many possible errors that may have been made, and give you the chance to fix them before preparing a BAS or financial reports. Below is a brief summary of the Company Data Auditor and some of its checks, to assist you. 1.     COMPANY FILE OVERVIEW Check that the file has been backed up...

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...

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