SRRS Financial Service Ltd (SRRS) has developed a supportive accounting service for the self-employed, partnerships, small limited companies and individuals.

SRRS Financial Service challenges the traditional method of providing accounting services. It considers “year-end only” accounting model as inappropriate in today’s business environment.

The SRRS monthly service is designed to give clients on-going support, and to keep them informed (progressively) of their business profitability. It allows SRRS to monitor the business on a regular basis, and to give advice at a time that it is pertinent.

For a fee which is very competitive with the traditional "year-end only" provider, SRRS maintains an in-house computerised cashbook; prepares for the client, monthly profit summaries; calculates GST returns; produces a year-end Profit and Loss statement, Balance Sheet and Depreciation Schedule, and prepares tax return for clients.

The service appeals to small business persons, who are attracted by the regular contact with their accountant, appreciate the receipt of topical trading information and advice, and relieved at knowing the GST returns are prepared as part of the service.

SRRS has also developed as a specialist in rental property accounting. Few accounting companies are promoting this aspect, and the identification of this market niche is proving very successful.

At the instigation of several clients, SRRS established a payroll service for small businesses.

Our Full Charge Bookkeeping Service provides the best value for your company. SRRS assigns a team of professionals to each account, giving your company access to knowledge, advice, and quality control at the Chartered Accountant level. Outsourcing this back office function allows you to focus on your core competency while receiving professional bookkeeping services at an affordable price.

Full charge bookkeeping includes the following services:

Tax planning / Payroll
• Monthly PAYE
• Credit of salaries & wages

Financial Reporting
• Monthly financial statements customised for your business
• Job costing

Accounts Payable
• Cash management
• Processing payables

Inventory
• Including monitoring item list
• Reconciling to physical counts

Accounts Receivable
• Invoicing
• Light collections

Financial reporting provides the window into the health of your company and is the visible effect of your accounting system. Small businesses usually need three basic financial statements to determine that things are running smoothly:
• Balance Sheet
• Income Statement
• Statement of Cash Flows

Other factors make financial reporting important, for example, if you have outstanding bank loans, you may be required to produce reports for review. Investors usually ask to see the firm's financial statements as well. Additionally, future financing or even sale of the company requires a look at its financial history.

SRRS’ experience brings important financial information to light by producing reports that address specific concerns. For many small businesses, these focus around accounts receivable, projected cash flows, and analysis of gross margin by product. Additionally, comparative reports stating actual versus planned are key in streamlining your budget.

Through financial reporting, our staff will create, interpret and work with you to maintain the health of your company and prepare your business for successful relationships with banks, investors or potential clients.

SRRS’account reconciliations service is designed to simplify your company's account reconciliation process. Our service saves your time, improves accuracy and enhances internal controls. Complete information like this is all you'll need to effectively manage and monitor your account.

The reconciliations process with SRRS has clear benefits:

• Saves administrative costs associated with reconciliations and reporting
• Provides confidentiality and improves internal control
• Improves accuracy
• Provides a clear audit trail
• Deposit reconciliations tracks deposits made from multiple locations

Tax planning and filing are some of the full-charge services that SRRS offers. Our expertise can help you get on top of your taxes during the year by implementing the new tax saving opportunities and changes for the new year. In addition to good planning, accurate tax returns could be the difference between big tax savings and the dreaded audit.

SRRS offers the following tax preparation services:

• Personal IR3
• Companies IR4
• Trust IR6
• Partnerships IR7
• Fringe benefit tax returns
• Goods & Services tax returns

If you are late in filing your taxes, we can help! Our specialists know the ins and outs of tax preparation and can quickly help you channelled through the penalty and interest loop.

One of the biggest down falls of a business is to ignore the requirements of tax filings. Unfortunately these requirements only get worse when you ignore them. Taxes are one of the few things that will follow you through death.

SRRS analyzes your current situation and assess what taxes need to be complete. We have the knowledge and experience to prepare these returns. We will also follow up with the various government agencies to work through any penalties and/or interest that may have been assessed. In some cases, we may be able to get penalties waived.

Once you are current, SRRS will continue to file and monitor your tax filings.