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

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...

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...

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...

Set up a Product or Service: Non-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”. 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 icon and navigate to the image you...

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...

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...

Reimbursements to Owner

Q:  Sometimes stock or one off goods are purchased on the credit card of my partner, then the money for the sale is inputted into the business account, then the amount credited on my partners account is then repaid from out account how do we account for this? A: There are a couple of different ways of doing this. One simple way is to simply ignore the first payment by credit card totally and just record the bill as being paid by the cheque that you use to reimburse your partner, as if you were paying it straight to the supplier. This way is simple but usually not possible if you are...

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...

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...

Memorised Transactions

Using the Memorised Transaction feature in Reckon Accounts is the easiest 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 Memorised Transaction feature to memorise all the transactions that are repetitive. You can memorise them on a daily, weekly, fortnightly, monthly, annual basis and more.   The sort of transactions that you can memorise are loan repayments; Hire Purchase repayments;...

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