Accounts

Bizprac offers comprehensive tools for managing financial year transitions, accounting methods, and clearing bad debts, enhancing financial accuracy and oversight.

End of Year Reset

Bizprac allows for data entry for a period covering 2 years. Usually this will be the current financial year and the next financial year. At the end of the accounting period covering the 2 years, you will need to complete an end of year reset. This will need to be completed if you wish to continue adding new information into Bizprac. An end of year reset can be completed once all the financial information has been finalised by your accountant. The procedure will automatically create a copy of the current database, roll the accounts information over, creating a database of the historical data. This can be accessed later as required.

Cash or Accrual Accounting

Cash or Accrual is the accounting method that is used for the calculation of the BAS and the paying of GST. This setting will determine the method used to calculate the BAS, so it is imperative that this is selected correctly. The GST method is generally set when the Business Books are setup; they will only change if directed to do so by the ATO.

Clearing Bad Debts

If there is an amount that will not be paid, create a credit note for the amount being written off. You can either use the income account or use a separate bad debts ledger.

Clients

Expertise IN PRACTICE

We look forward to helping you to understand our software and how it can help your business to grow and be more profitable.

1800 009 970 | sales@bizprac.com
Unit 8, 45-49 Commercial Drive,Shailer Park, QLD 4128

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FREQUENTLY ASKED QUESTION

What is Bizprac and who is it for?

Bizprac is an Australian construction platform with fully integrated features built for Australian builders by experts in the industry. Our platform enables builders to run their entire business end-to-end. Bizprac has integrated major functions such as accounting, estimates, invoicing, payroll and all you need to run your business.

What features do Bizprac offer?

Our comprehensive set of key features can be found here. We've designed the Bizprac platform to uniquely cater to Australian construction companies and have included features for builder retentions, estimates with structures, digital takeoff that is powered by ExtrAXION and other features critical to a construction business. We also allow you to manage multiple projects at no additional cost.

Can Bizprac handle payroll and accounting?

Not only can we handle payroll and accounting, but we make it super easy for you! Bizprac's end-to-end accounting gives you real-time insights into your project's health, including job cost controls, estimates, timesheets and easy dashboard reporting. Our Single Touch Payroll allows you to run payroll with a click of a button and automate submissions to the Australian Tax Office (ATO).

Is Bizprac easy to use?

We pride ourselves to be a no-frills, straight to the point platform. We've also assisted and provided hands-on support to all of our clients, starting from implementation and setup to after-sales or technical support thereafter.

How does Bizprac improve construction business management?

Bizprac is here to ensure you deliver projects on time and on budget. We enable construction business owners by ensuring their project never overruns and maximizes profitability.

What is Bizprac and who is it for?
What features does Bizprac offer?
Can Bizprac handle payroll and accounting?
Is Bizprac easy to use?
How does Bizprac improve construction business management?