Centric Accountants

Business Services

Bookkeeping Services in Melbourne

Bookkeeping is the systematic recording of your business's financial transactions — income, expenses, payroll, and GST. Accurate books underpin every BAS lodgement, tax return, and business decision. Melbourne businesses rely on timely bookkeeping to stay compliant and in control of their cash flow.

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Why Melbourne Businesses Outsource Their Bookkeeping

Running a Melbourne business means managing suppliers, staff, and customers — not chasing receipts or reconciling bank feeds. Outsourcing bookkeeping frees your time for revenue-generating work while ensuring your records meet ATO requirements at every lodgement deadline.

BAS Lodgement and ATO Compliance

The ATO charges a failure-to-lodge penalty of $330 per BAS statement for every 28-day period it remains overdue, up to a maximum of $1,650 per statement. Most Melbourne small businesses lodge quarterly, meaning four opportunities each year for penalties to accumulate. Our team tracks every deadline and lodges on time, every time.

Xero and MYOB Certified Partners

We work with the accounting platforms Melbourne businesses already use. As certified Xero and MYOB advisors, we set up bank feeds, reconcile transactions, and maintain chart-of-accounts structures that produce reports you can actually read. New to cloud accounting? We handle the migration from your existing system.

Bank Reconciliation Done Right

Bank reconciliation matches your accounting records to your actual bank statements, catching duplicate entries, missed transactions, and coding errors before they compound. We perform monthly reconciliations across all accounts — operating, payroll, credit cards — so your balance sheet reflects reality.

Payroll Bookkeeping and STP Reporting

Single Touch Payroll (STP) requires employers to report wages, PAYG withholding, and super contributions to the ATO each pay run. We handle STP Phase 2 submissions, payroll journal entries, and superannuation liability tracking so your payroll records stay current and compliant.

Written by Faisal Saleem, CPA · Last updated: 15 May 2026

How it works

01

Discovery & Setup

We review your current records, connect your bank feeds, and configure Xero or MYOB to match your business structure and GST obligations.

02

Ongoing Transaction Coding

Every transaction is categorised to the correct account and GST treatment, using rules and automation to keep coding consistent and auditable.

03

Monthly Reconciliation & Review

We reconcile all accounts at month-end, flag anomalies, and deliver a clean profit-and-loss and balance sheet you can share with your bank or investors.

04

BAS Lodgement & ATO Reporting

We prepare and lodge your BAS on time each quarter (or month), including GST, PAYG withholding, and any fuel tax credits, with copies stored for your records.

Frequently asked questions

How often should a Melbourne small business do bookkeeping?

Weekly or fortnightly bookkeeping is recommended for most Melbourne small businesses. Letting transactions accumulate for a full quarter makes reconciliation slower and increases the risk of errors in your BAS lodgement.

What is the ATO penalty for a late BAS?

The ATO imposes a failure-to-lodge penalty of $330 per BAS statement for each 28-day period it is overdue, up to a maximum of $1,650 per statement. Penalties apply even if there is no tax owing.

Do you work with Xero and MYOB?

Yes. Centric Accountants are certified Xero and MYOB advisors. We can work within your existing software or migrate you to a cloud platform that suits your business size and industry.

Can you take over from my current bookkeeper?

Yes. We conduct a review of your existing file, bring any outstanding reconciliations up to date, and take over ongoing work. Transitions typically take one to two weeks and are managed with minimal disruption to your operations.

What is Single Touch Payroll and do I need it?

Single Touch Payroll (STP) is the ATO's mandatory real-time reporting system for wages, tax withheld, and super contributions. All Australian employers — including those with a single employee — are required to report through STP. We handle STP Phase 2 submissions as part of our payroll bookkeeping service.

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