Accounting & Tax

Tax Returns are part of your wealth-building plans, not just something you have to do

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:

• Easy to read Profit & Loss Statements showing profit history
• Education about what gives the Banks confidence to lend to you: key ratios, strong Balance Sheets, consistent cashflows
• Prompt response when your Bank asks for information and an open phone line so they know who to call if they need more information
• Cashflow Forecasts to support major property & equipment purchase applications

It’s not just the Bank or the Tax Office

Insurance brokers need your tax returns.

Government agencies need them too: flood relief grants, tender documents.

Your own family’s strategic discussions need them.

Tax is a forward looking service

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.

The better your records, the more we can help you.

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.

Case Study

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?

Give Us a Call