DIY accounting vs hiring an accountant: make the right choice for your business

When starting a small business, it’s tempting to manage your own accounting to save money. Hiring a professional accountant or tax adviser can be seen as an avoidable expense. But is handling your own financial management really the best choice for your business? Let’s examine why partnering with an experienced accountant might be a smart […]

Budgeting for success: the importance of good financial management

Effective cash management is vital for small businesses with limited financial resources. Clear budgets and spending limits are essential for maintaining financial stability. Four Key Budgeting Strategies 1. Adopt a Comprehensive Budget A detailed budget is the foundation of financial stability. Even a simple Excel spreadsheet can track income and expenses. Steps to Implement: 2. […]

2024–25 Federal Budget Highlights

The Federal Treasurer, Dr Jim Chalmers, handed down the 2024–25 Federal Budget at 7:30 pm (AEST) on 14 May 2024. Described as a “fiscally responsible Budget aimed at alleviating current financial pressures,” the Treasurer has projected a surplus of $9.3 billion for the second consecutive year. The government’s primary focuses, outlined in the Budget, include […]

5 common accounting mistakes (and how to avoid them)

Embarking on a business venture entails grappling with myriad challenges, particularly in the realm of financial management. For those not well-versed in fiscal intricacies, navigating the complexities of bookkeeping and accounting can be formidable. Despite the availability of modern accounting tools, the potential for inadvertent errors persists. What are the common accounting pitfalls encountered by […]

Leveraging In-Depth Financial Data for Informed Business Decision-Making

As a business owner, making optimal decisions is paramount. Strategic spending, revenue management, and cashflow analysis deeply impact long-term success. Utilising financial data is crucial for maintaining a competitive edge. Here are five benefits of real-time financial insights: Unlock Your Financial Data Potential: Upgrade from basic metrics to comprehensive insights with customised dashboards and reporting […]

Key ways to access funding for your business

If you’re planning to fund a new business, you’ll need enough startup capital to get this venture off the ground. And once you’re up and running, you’ll need additional business finance and investment at each stage of your growth and expansion along the business journey. But where does this business funding come from? And what […]

How to prepare your business for an audit

Getting ready for an audit is unlikely to be one of your favourite things to do as a business owner. But being prepared, organised and ready can take some of the pain out of an audit. Planning for your audit helps your auditor get their job done more quickly, and also means there’s minimal disruption […]

Book a tax planning conversation with us today

The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers and tax advisers, we both have to be nimble, flexible and aware of changes. That’s why regular tax-planning sessions are so important. The need for regular tax-planning conversations As your accountant and […]

Tax planning helps you do more with your money

Tax planning is a strategic approach to managing your business’ financial affairs, with the aim of legally minimising your tax liability. In other words, you plan ahead to make sure you pay the taxes you should be paying, but not a penny more. Working with your tax adviser, you can look for deductions, credits, exemptions […]