SMSF Bookkeeping and Fund Administration
Accurate, up to date bookkeeping is the foundation of a well-run self-managed super fund. We manage the ongoing administration and record keeping for your SMSF throughout the year, so your fund is always in order and audit-ready when it matters.
Ongoing SMSF Bookkeeping That Keeps Your Fund on Track
Accurate, up to date bookkeeping is not just about keeping tidy records. For business owners and professionals with an SMSF, it is the foundation on which every strategic decision inside your fund depends. Your contribution strategy, your CGT planning, your pension administration, and your year end tax position all rely on the accuracy and completeness of your fund’s records throughout the year.
At New Wave SMSF, we manage your fund’s bookkeeping and administration as part of a fully integrated advisory service. Your records are maintained accurately and consistently throughout the year, which means your accountant, financial planner, and legal adviser always have the information they need to give you timely, well-informed strategic advice.
When your bookkeeping is handled properly, opportunities do not get missed because the numbers were not ready in time. Contribution windows are identified early. CGT positions are tracked in real time. Pension payment requirements are monitored proactively. That is the difference between bookkeeping as a compliance task and bookkeeping as a strategic enabler.
This information is general in nature. For advice specific to your circumstances, please speak with one of our qualified advisers.
What Our SMSF Bookkeeping Service Includes
We provide comprehensive bookkeeping and fund administration support for self-managed super funds.
Here is what is included:
Transaction Recording and Reconciliation
We record and reconcile all fund transactions throughout the year including investment income, contributions, pension payments, expenses, and asset purchases, ensuring your records are accurate and up to date at all times.
Investment Portfolio Tracking
We track your fund’s investment portfolio on an ongoing basis, recording all buy and sell transactions, income received, and corporate actions to ensure your portfolio records are accurate and complete for year end reporting.
Pension Payment Administration
We administer ongoing pension payments from your fund, ensuring minimum pension requirements are met each year and all payments are correctly recorded and reported in line with ATO requirements.
Contribution and Rollover Recording
We record all contributions and rollovers received by your fund, ensuring correct categorisation of concessional and non-concessional amounts and accurate reporting to the ATO throughout the year.
Expense Management and Recording
We record all fund expenses including accounting fees, audit fees, insurance premiums, and investment costs, ensuring they are correctly categorised and the fund’s deductions are accurately captured at year end.
Bank Account Reconciliation
We reconcile your fund’s bank accounts regularly throughout the year, identifying any discrepancies early and ensuring your fund’s cash position is accurately reflected in the records at all times.
Year End Administration
We prepare all year end administration for your fund including finalising the transaction records, reconciling all accounts, and ensuring everything is in order for the preparation of your annual financial statements and tax return.
Audit Ready Record Keeping
We maintain your fund’s records in a format that is ready for the annual independent audit at any time, reducing the time and effort required to prepare the audit file and minimising the risk of audit findings related to record keeping.
Why Ongoing SMSF Bookkeeping Matters
For business owners and high net worth individuals, the quality of your SMSF’s records directly affects the quality of the advice you receive. An adviser who is working from incomplete or out of date records cannot give you timely strategic guidance. A contribution opportunity identified in June is far more valuable than one identified in August after the financial year has closed.
At New Wave SMSF, we treat bookkeeping as an integral part of your advisory relationship, not a back office function. By keeping your records current throughout the year, we ensure your advisory team always has the visibility they need to act proactively on your behalf.
Accurate ongoing bookkeeping helps ensure:
- Contribution opportunities are identified and acted on within the financial year
- CGT positions are tracked in real time so disposals can be timed strategically
- Pension payment requirements are monitored and met without last minute pressure
- Your fund’s tax position is clearly understood throughout the year not just at year end
- Your financial planner and legal adviser always have accurate data to inform their advice
- Year end compliance runs smoothly without scrambling for missing records
Who This Service Is For
Our SMSF bookkeeping service is designed for trustees who want their fund’s records maintained accurately and consistently throughout the year.
This service is the right fit if you are:
A Trustee Who Wants Their Records Managed Professionally
You do not want to spend time on the ongoing administration of your fund. You want a specialist team to keep your records current, accurate, and audit-ready so you can focus on the bigger picture.
A Trustee with a High Volume of Transactions
Your fund holds a diverse portfolio with frequent transactions including shares, property income, pension payments, and regular contributions. Keeping up with the volume is time consuming and you want it handled professionally.
A Trustee Who Has Fallen Behind on Record Keeping
Your fund’s records are not up to date and you are facing a year end compliance deadline. We can bring your records up to date, reconcile any outstanding transactions, and put a proper ongoing bookkeeping process in place going forward.
A Business Owner Who Wants Everything Under One Roof
You want your SMSF bookkeeping handled by the same team that manages your accounting, financial planning, and legal advice. Having everything coordinated within one firm saves time and ensures nothing falls through the gaps.
The New Wave SMSF Difference
At New Wave SMSF, bookkeeping is not a standalone service. It is fully integrated with your accounting, compliance, and financial planning, so your records always support the bigger picture.
- Integrated with Your Annual Compliance
Your bookkeeping feeds directly into your annual financial statements, tax return, and audit. Because the same team handles all of these within New Wave, your records are always in the right format and at the right level of detail to support a smooth year end process.
- Proactive Throughout the Year
We do not wait for you to send us records at year end. We work with you throughout the year to keep transactions up to date, identify any issues early, and ensure your fund is always in good order regardless of when the audit or tax return deadline falls.
- Specialist SMSF Knowledge
SMSF bookkeeping is different from standard business bookkeeping. The treatment of contributions, pension payments, investment income, and CGT events requires specialist knowledge of superannuation law. Our team understands these requirements thoroughly and applies them correctly to every transaction in your fund.
Ready to Take the Stress Out of SMSF Administration?
Whether you need ongoing bookkeeping support or you want to bring your fund’s records up to date before year end, our team is ready to help you get everything in order.
What Our Clients Say
We are proud to support SMSF trustees and individuals with professional accounting and financial services.
Disclaimer
This information is general in nature and does not constitute financial or legal advice. SMSF bookkeeping and fund administration services are delivered by New Wave Accountants and Business Advisory. New Wave Financial Planning Pty Ltd is an Authorised Representative of NWG Financial Services, AFS Licence No. 538619. For advice specific to your circumstances, please speak with a qualified adviser before acting on any information contained on this page.