Having an accountant to work with you in your business can be a valuable tool. More than just sorting out your end of year taxes, a good accountant can be an integral part of your business, providing valuable advice on the way.
So what can an accountant do?
Not all accountants are the same. Some focus purely on end of year compliance and taxes whereas some like to work with their clients and focus more on business development and growth in addition to the compliance work.
Here are some examples of how an accountant can help you in your business:
- New Businesses / Start Ups – An accountant can make sure a new business is set up correctly. From providing advise on structure, to making sure you have the procedures in place, and checking that you have factored in the necessary expenses to get off the ground and operating successfully.
- Cash flow – An accountant can set up cashflow projections and assist in budgets so that you have the funds available when the debts fall due. It is a really important business tool to utilise and your accountant can help to provide this in an easy to understand format. By planning for seasonal variations in income you can plan your business operations.
- Liase with the ATO – Lets face it, for some people, the thought of sitting on hold waiting to speak with the ATO can invoke a fear of dread. Your accountant can take all that stress away. From arranging payment plans, to obtaining private rulings on legislation, we not only talk to the ATO on your behalf but we make sure that any arrangements that you do make are within your businesses budget and capacity to repay.
- Provide better management reporting and information – Your decision making relies on the information that you have available to you. We can provide detailed management reports, breaking down the key metrics and forecasts of you cashflow, spending, aged debt and revenue – all of with helps you to save money, make sound, informed decision and keep the revenue flowing into your business.
Here are some examples of how an accountant can help you in your business:
Rather than running your business on a wing and prayer, by working with an accountant you get a clear picture on your business financials. We’ll help you cut unnecessary costs, optimise the most profitable parts of the business and increase your overall return on investment.
Let’s talk about how we can work together to support your ongoing business profitability.
