Up-to-date financial records are a competitive advantage because you can move fast when an opportunity arises.
We use the annual tax process to build a deeper relationship with the Bank so that when you need it they are there for you:
Insurance brokers need your tax returns.
Government agencies need them too: flood relief grants, tender documents.
Your own family’s strategic discussions need them.
Experienced business owners spend time with their accountants between February to May.
“If the business keeps going like this what will my tax be?”
“What will buying new equipment do to my tax?”
“What options have I got?”
Inexperienced business owners call up after 1 July, when it’s usually too late to offer choices.
We can explain your choices but we aren’t magicians!
Accountants are busy people too, and to give you the answers we need reliable, up-to-date figures.
A quality Bookkeeper will reconcile your bank accounts, manage your payroll and Super, and prepare your BAS. They will reconcile your Debtors and Creditors too. And all on Cloud software.
Good Bookkeepers will also talk to your Accountant if they are unsure about unusual transactions (like buying a new truck with a trade-in and an equipment loan – that can be tricky if you only do it once or twice a year).
Then, when you urgently need an answer, the information is there.
We can refer a bookkeeping firm to you. Just let us know.
Jared uses old software to reconcile his business bank account. He hasn’t upgraded since 2011. He catches up on paperwork every few months when the bookkeeper says the BAS is late.
Sarah uses Xero, a cloud accounting software. She reconciles regularly, sometimes daily, often on her phone whilst she has a few minutes spare.
There’s an auction on Saturday for a property they both want.
Both phone their accountant on Wednesday saying “the Bank wants figures for the business before they will approve a loan.”
Who gets the loan approval in time?