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Online Accounting & Bookkeeping Services

We help small businesses and SMEs to transform their accounting to cloud  

Unlike traditional accounting firms who manage large volumes of paperwork bookkeeping but offer low transparency to their clients, the FastLane Group provides hassle-free, reliable online accounting and bookkeeping services. Using Xero, an online accounting software, our clients can review their financial performance anytime and anywhere.

Our online accounting and bookkeeping services include:

  • A Dedicated Account Manager 
  • Xero Cloud Accounting Software Implementation & Training 
  • Monthly / Quarterly / Yearly Bookkeeping Services
    • Accounting Data Input
    • Bank Reconciliations
    • Preparation of Management Accounts Including Monthly Profit & Loss Statements and Balance Sheets
    • Preparation of Account Receivable & Account Payable Ageing Reports
    • Review Company Financial Performance and Matrix
    • Reminder on Audit and Tax Deadlines
  • Xero Account Review
  • Audit and Tax Filing
  • Access to our Professional Payroll and Corporate Services Team
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Our online accounting and bookkeeping services include:

  • A Dedicated Account Manager 
  • Xero Cloud Accounting Software Implementation & Training 
  • Monthly / Quarterly / Yearly Bookkeeping Services
    • Accounting Data Input
    • Bank Reconciliations
    • Preparation of Management Accounts Including Monthly Profit & Loss Statements and Balance Sheets
    • Preparation of Account Receivable & Account Payable Ageing Reports
    • Review Company Financial Performance and Matrix
    • Reminder on Audit and Tax Deadlines
  • Xero Account Review
  • Audit and Tax Filing
  • Access to our Professional Payroll and Corporate Services Team

How does our accounting and bookkeeping services work?

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Step 1:
Xero Implementation 


We will help you setup a tailored
Xero account based on your
unique business operations

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Step 2:
Xero Training 


Our certified Xero advisor to
provide one-on-one training
to your team on using the software

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Step 3:
Bookkeeping 


Simply take a photo or scanned copy
of all your receipts and upload them
to Xero or other cloud storage solutions.
We will take care of the rest!

How much does it cost to have an accountant for a small business?

We charge accounting service fee based on hourly rate or a fixed fee per month depends on the number of your company transactions and business complexity. Nothing unexpected will appear on your bills!

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We offer a unique delivery model with technology that enables us to provide an unrivalled service which has successfully supported more than five hundred companies.

FAQs for Accounting and Bookkeeping

1. Which online accounting system do we use?


The FastLane Group utilizes Xero, a cloud-based accounting software. Xero offers businesses a simple, yet powerful, way to manage their finances. Users can access their business finances wherever they are, collaborate seamlessly with other parties and can even improve their cash flow through online invoices.  

 

The FastLane Group is a certified Xero Advisor and Xero Platinum Partner. We recognize the importance of assisting small businesses and SMEs and are committed to helping our clients build better businesses. To affirm our position as a leading Xero Partner, the FastLane Group was awarded the Xero Award for Accounting Partner of the Year 2019!

 

2. How do we calculate transactions?


We determine the number of transactions per month as the amount of transactions conducted in a corporate bank account. This includes all deposits, withdrawals, sales invoices and business expenses.

At the FastLane Group, we take special care not to double count transactions. For example, if a company transfers funds between different bank accounts, we count this as one transaction. We also take into consideration whether the company makes several receipts for one sales invoice, or has similar recurring transactions through merchant accounts (Paypal, Stripe, Payoneer, Neat etc). Other service providers may not account for such transactions.

If you are unsure of how many transactions your company conducts in any given month, don’t hesitate to reach out to us at FastLane. We can review the necessary documentation to help determine!

 

3. Why outsource accounting services?


Outsourcing accounting services allows small businesses and SMEs to access and utilize more resources as compared to relying on in-house accountants. The key benefits of outsourcing accounting services to a professional accounting firm are as follows:

 

  • Save time to focus on other key business activities 
  • Save money by accessing professional knowledge and avoiding penalties 
  • Provide a better understanding of company’s financial performance 
  • Improve cash flow management 
  • Seamless audit coordination 

 

4. What is cloud accounting?


Cloud accounting is a better way to do accounting work. Unlike traditional accounting solutions, cloud accounting platforms are hosted on remote servers and make data and software accessible online anytime, anywhere and from any device.

 

The greatest strength of moving accounting from offline to online is that it allows companies to manage and share access to their financial documents with their team, accountants and bookkeepers – facilitating collaboration, transparency and efficiency.

 

5. Can I handle my own bookkeeping?


Yes, however it is not recommended. Bookkeeping is essential parts of a business as they are responsible for managing the day-to-day accounts. For business owners who wish to devote their time to business generating activities, hiring a bookkeeper can ensure that they are able to do so. 

According to Xero, without proper bookkeeping, “it would be easy for transactions to go unrecorded, left to pile up until the end of the financial period. Mistakes could be made and important details could be lost or forgotten”. Having a bookkeeper can lighten the load of a business, improving its efficiency.

Parties who require bookkeeping support but are not ready to completely outsource these related roles can consider setting up a Xero system. The FastLane Group’s cloud accounting services get you started with Xero, provide training on the system and manage all receipts you upload onto the platform!

 

6. What are the benefits of moving the accounting to online accounting software?


As stated by Marc Benioff, CEO of Salesforce.com, “cloud computing is a better way to run your business”. Moving your accounting work to the cloud is no exception. Businesses who use cloud accounting platforms such as Xero can enjoy increased efficiency through automation functions, increased data security and improved financial control over compliance matters. In addition, cloud platforms are typically designed with scalability in mind, allowing users the ability to pick and choose which functions they want to pay for and utilize.

What can FastLane Do for You?

Schedule A Meeting With FastLane


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