General Accounting

Change in regulation, business practices and management styles often these changes are complex and most business owners don’t have the time to keep up with them. Upto date and current financial information is often key to the success of your business and vital to the continued success of any business.

Our experience of working in multi-currency, global, and cross industry environment benefits clients by sharing best-practices and market trends. Maxlence’s general accounting team leverages board statutory expertise from the U.S, UK GAAP, IFRS, AASB, Etc., to handle multiple books of account.

Our accounting team ensures that you not only stay fully complaint but keeps abreast of changes that may impact your business performance. Our range of services includes:-

  •  Loans and lease accounting
  •  Fixed asset accounting
  •  Inter-intercompany accounting
  •  Account reconciliation (Bank, Cash, BS Accounts / Subledger)
  •  Reserves and accurals
  •  Journal Entries

Taxation Outsourcing

We can complete all your compliance requirements such as your BAS, GST, FBT, payroll tax and ASIC requirements but more importantly we can add value through management accounting.

Our focus is on delivering efficient and accurate quality accountancy services, freeing you and your senior management from financial administration.

We help you stay up to date with all your tax returns, from managing deductions to keeping track of all expenses and informing you of relevant changes to Australian taxation law.

At Maxlence we understand each client is unique, so we can help you on board that new client. You’ll be equipped with a dedicated team who are trained in the workflow systems and accounting software you use, we’ll provide you with a dedicated account manager to liaise with you and your team.

Book Keeping Outsourcing

Here are some of the challenges.

  •  For every SME client, you have to deal with another bookkeeper.
  •  Inconsistent preparation by different bookkeepers.
  •  Keeping up to date with various accounting packages.
  •  Different methods of preparing and presenting EOY accounts.
  •  Lack of capacity and continuity of bookkeepers.
  •  Clients being charged by the hour for bookkeeping.

How we solve it

Most accounting firms are dependent on the tax preparation and general ledger programs that allow them to provide essential services to their clients. Without these applications there would be no billings, and therefore no firm. Every firm uses one of a handful of popular tax and general ledger applications.

Our team have experience with almost all of these and strive to be software agnostic, meaning that no matter what your software preference we should be able to work on it.

When we scope your firm we also take a good look at your work flow processes and staff resources, and determine where outsourcing can assist improving your firm.

We provide end-to-end or individual support for:

  •  Order to Cash
  •  Procure to Pay
  •  Reconciliation
  •  General Ledger

Order to Cash and Accounts Receivable

We manage receivables on your behalf so that you can focus on core business. We ensure timely collection of receivables for running your business efficiently. We utilize operating models for OTC that reduce day’s sales outstanding (DSO), limit revenue dilution, improve cycle times, reduce costs, and boost customer satisfaction. OTC services include:

  •  Customer master data management
  •  Credit management services
  •  Order fulfilment
  •  Billing and invoicing
  •  Electronic invoice presentment
  •  Collections
  •  Cash applications
  •  Deductions and exception management / Credit Note
  •  Dispute management
  •  Month-end and internal/external reporting

Procure to pay and Accounts Payable

Effective accounts payable (AP) processes that optimize working capital, sustain cash savings initiatives, and enable long-term supplier relationship management can help organizations maximize profits and thrive in rapidly changing economies.

We help you in making timely payment on your bills and ensure that you get all the benefits of timely payment.

Maxlence AP outsourcing services encompass end-to-end AP processes, including:

  •  Scanning
  •  Invoice processing.
  •  Approval and resolution management.
  •  Help desk.
  •  Disbursement.
  •  Month-end and internal/external reporting.
  •  Ageing reports for 60, 90, 120 & more days.
  •  Client and project statements include multiple formats and extensive filters.
  •  Progress billing and linkage of the time and expense to it.
  •  Print pre-billing reports – can be sent out.
  •  Manage Fee Schedules: Service, Expense and Delayed, with job classifications.


A procedure for confirming the reliability of a company’s accounting records by regularly comparing balances of transaction with independent source support / bank statement / accrual calculations etc. An account reconciliation may be prepared on a daily, monthly, or annual basis. Check actual amount deposited in the bank.

  •  Check bank statements for any discrepancies.
  •  Reconcile credit card transactions.
  •  Correct any errors and write up adjusting entries.
  •  Reconcile general ledger with sub-ledger / independent source support for various balance sheet accounts.