Whether you are a sole trader, partnership, company or trust, you need a business accountant that works best for you. An accountant that offers comprehensive support, not only at tax time but throughout the entire year. This enables you to focus on growing your business without worrying about your tax compliance and record keeping. Your tax accountant’s number one priority should be to simplify tax time and everyday accounting.
What can a good business accountant do for my business at tax time?
Tax is one of the biggest expenses of any business, so why wouldn’t you employ an expert to cut that cost as much as possible? Offering key services to their clients, many of which business owners are happy to hand over is all about simplifying your business and personal life.
Key services a good business accountant will offer:
- Income tax return preparation for sole traders, partnerships, companies and trusts
- Business advisory covering most effective business structure, ongoing business advice and planning, business benchmark and business existing
- Prepare documents required by the ATO such as PAYG, GST, BAS returns, taxable payment summaries, financial statements as well as FBT and franking dividends
- Other services like due diligence, budget and cash flow preparation, performance analysis not to mention ATO dealings and tax debt, late tax returns and BAS lodgement
- Worker obligations including compulsory pay slips, comprehensive payroll programs, payroll and superannuation processing
- Bookkeeping services such as Quickbooks, Xero or Myob programs along with having a financial report at your fingertips, debtor and creditor recording
How can an accountant help me reach my business goals?
An accountant will have access to accounting software, enabling them to analyse your cash flow, inventory management and pricing. A good tax accountant will also provide insight into how to properly grow your business through financial analysis. They could even help determine the best time to introduce a new product or service offering to your range. More times than not, a good business accountant will offer strategic advice and clever ways to boost revenue and save money. A good accountant not only removes and automates administrative tasks to help you focus on your core business, but also help you run your business with more confidence and clarity. Bringing relief at what will otherwise be a stressful time… tax time.
Operating a small business without an accountant
Operating a small business without an accountant can be done, but quite often you will find yourself swamped and struggling to keep your head above water. Interpreting your financial data in order to help you make better business decisions when it comes to your company’s money, a business accountant offers you peace of mind. The duties for an accountant can vary depending on your company and their skill sets, but typically they’re responsible for data management, financial analysis and consultation, financial reports and regulatory compliance. The best advice when choosing an accountant that’s right for you, find a team that understands your chosen field, a group of like-minded people willing to work with you to reach your business goals.
Navigating the world of small business can be confusing. That’s why our team at Meridian Accounting and Business Services is here to help. Devising a solution to suit your individual needs, contact us online, or give us a call on 07 49 38 8262. We’re happy to answer all your questions.