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#1 2016-07-14 10:39:42

ShinyStuff
Member
From: Australia
Registered: 2011-04-29
Posts: 608
Trades :   

Using UpWork to have Accountants bid to Audit my SMSF

Hi Everyone,

I am a small-time user of the third party sites where people bid for work.  I have used Odesk and Elance (both have been taken over) and are now called UpWork.

I have only have positive experiences.  I had an AMAZING experience with a graphic artist from the Ukraine.  Anyway....

I just realised they now do ACCOUNTING!

So, I put out a job for my annual SMSF audit.  I will see what I get back in terms of "fixed price" for it to be audited and submitted to the ATO.  I have only invited Australian based people, but I will see if others can do it too!

I was just screwed $900 from the people I have been using for 3 years and I am over it.  I have such a SIMPLE fund, and I know that it would not take too long to complete.  These guys do this stuff all day long.  Please don't tell me that even at $50 per hour it takes them more than 6 hours to do.  I get it that there are other costs... no prob.  But seriously!

Anyway I will keep you all posted.

Shiny.

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#2 2016-07-14 10:45:37

Elemental
Silver Stacker
From: WA
Registered: 2011-05-21
Posts: 1,070
Trades :   66 

Re: Using UpWork to have Accountants bid to Audit my SMSF

It's an interesting idea but the information you are providing is pretty sensitive. I'd be careful giving it out to a relatively unknown entity.

Was $900 just the audit? When you say simple, just cash in term deposits or loans, share transactions, metals etc?


If you want to be a Millionaire, start with a billion dollars and launch a new airline - Richard Branson

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#3 2016-07-14 10:51:44

ShinyStuff
Member
From: Australia
Registered: 2011-04-29
Posts: 608
Trades :   

Re: Using UpWork to have Accountants bid to Audit my SMSF

Elemental wrote:

It's an interesting idea but the information you are providing is pretty sensitive. I'd be careful giving it out to a relatively unknown entity.

Was $900 just the audit? When you say simple, just cash in term deposits or loans, share transactions, metals etc?

I will ensure that the person (if I do go this way) will be licenced.  Plus, they will have the software (probably through their own company) to do it.  Basically I am using a service to shop around.

I have cash in the bank, 5 shares and all the rest bullion in allocated holdings.  It is so easy (and dull and boring) that I cry at the amount I am charged.

I am hoping to get it done for $250.... but maybe I am dreaming!

Shiny.

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#4 2016-07-14 11:56:07

Killface
Silver Stacker
From: Nunya
Registered: 2016-01-06
Posts: 955
Trades :   15 

Re: Using UpWork to have Accountants bid to Audit my SMSF

$50 per hour for accounting seems a little low.  My pool guy charges $100.


All that glitters is not gold...
...but all that is gold glitters!

Stacker formerly known as HoldMeTender

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