Frequently Asked Questions
You’ve got questions, we’ve got answers!
1 What are your form of payments?
Cash, Credit, or Debit cards.
2 How do I pay?
2 options for payment. (1) Direct deposit to our Citibank Australian Bank Account or (2) a quick registration with Payoneer for credit or debit card payments. An additional 3% fee for payments made by credit or debit cards will be changed.
3 Are there any additional or hidden fees?
Our system is easy and straightforward. There are no additional or hidden fees. We base your monthly fees on the number of transactions of your business.
4 How do I pay?
All payments should and only be transacted with Balancing Acct Industries Citibank Australia. We will provide you our Australian Bank Account details where you can pay by cash. Credit and debit card payments will be processed through Payoneer. Any transaction between any other entity or individual representing Balancing Acct shall not be entertained. Anyone trying to collect payment outside Balancing Acct Industries should be reported to us.
5 What about GST?
Since we operate from the Philippines, we don’t charge GST. This is applicable until tax laws change.
6 How do I cancel my plan?
7 What happens when I don’t pay?
Unpaid accounts after the 7th of every month will prevent us from rendering further services to you. Resumption will commence immediately upon the full settlement of your account.
8 How safe is your payment process?
For cash payments, our clients deposit to our Citibank Australia Bank Account, you can’t get any safer than that.
Credit and Debit Cards will be processed by Payoneer. Payoneer is licensed by the Australian Securities and Investments Commissions and is trusted by Amazon, Airbnb, Google, Facebook, and Ebay.
1 What qualifies as a transaction?
Transactions are counted per Bank Line and Invoice. Invoice consists of payments and collectibles.
2 How do you count batch payments or batch collections?
They are counted per invoice.
1 How am I billed for your services?
Billing is scheduled at the last working day of the month. You will receive an invoice on the first working day of the next month with a summary of your transactions and other services.
2 How is my billing computed?
You only pay for your usage. If you had 55 Transactions X (amount per transaction) and 3 employees X (amount per employee) then that’s what you only pay for.
BAS is quarterly and IAS is monthly. Both can be included in your plan.
1 How does this work?
By inputting the number of transactions for the month and the number of people you employ, the package builder calculator will generate your total fee for the month. BAS is done quarterly while IAS is monthly.
2 What are the contract terms?
You only pay for the number of transactions for each month of service.
1 What is your bookkeeper’s qualifications?
The ensure accuracy, we give you Acccountants working as Bookkeepers trained and experienced in Australian Bookkeeping. They are certified in Xero, Myob, and Quickbooks. While we are Accountants working as Bookkeepers, we are a bookkeeping provider and not an accounting firm.
2 Where are you based?
Balancing Acct Industries is based in Cebu City, Philippines.
3 Can swap or change my bookkeeper?
If you feel your bookkeeper is not a fit to your business, we’ll swap out our bookkeeper with someone who will be a better fit for you.
4 What is the scope of work?
We are a bookkeeping service provider that offers full features per transaction. You can view our SERVICES page for reference. While we have Accountants working as Bookkeepers, we are a bookkeeping provider and not an accounting firm.
You will also receive an email of our terms and agreement, that states all our services once you sign up with Balancing Acct Industries.
1 How safe is my information?
Bags and Phones are not allowed in the workplace. A security guard is on duty at all times with CCTV cameras monitoring the inside and outside of the premises.
2 What Antivirus do you use?
We use Kaspersky or Bitdefender to protect your files and documents from outside threats.