The two biggest differences between us and other Australian online accounting firms are our expertise and responsiveness. You only deal with senior or partner level accountants. Not graduates or even intermediate accountants. This means you get the expert advice you need promptly. No waiting for days. No vague advice by someone who doesn’t understand what they are doing.
We focus on businesses with annual turnover up to $10,000,000. This enables us to customise our expertise and services. We all know that trying to do too many things means you end up doing many things with mediocre results.
Bristax is a member of CPA Australia and The Tax Institute. The Tax Institute is Australia’s peak body for tax professionals. We strive to maintain the highest technical and ethical standards.
We understand that although there are certain aspects that many businesses share in common, no two businesses are exactly the same. We don’t pretend to know your business better than you do. We do try to understand your business enough to the point where we can customise our services and provide better value to you. Bristax is an online accounting firm that focuses on what really matters. We don’t provide worthless business consulting that ends up costing you more than the money you make.
We understand that the reality of many small to medium sized business is doing what you do best, day in and day out. It’s not normally not exciting, but success in any area of life requires dedication and commitment.
Whether openly acknowledged or not, the truth is that most business owners operate a business with the hope of making lots of money. Otherwise they would work as employees. Other motivations of operating a business are to be independent e.g. be your own boss, and to pursue a passion. Being your own boss and pursing a passion are worthy goals. However, you still need to make sure your business is making sufficient profit, to achieve your goals. We help our clients to make money. Not to grow for the sake of size, as size does not equal profit.
Benefits of using experienced Online Business Accountants
We have been providing online business accounting services for many years via email, phone and video call. We were among the first accounting firms in Australia to operate a paperless office e.g. storage of all documents in digital format, the use of digital signatures for signing tax documents etc.
Better value – online accounting means no travel for you and more effective use of time over the year. We also offer fixed monthly fees. This puts you in control and avoids those big annual invoices where you often don’t quite know what you are going to pay. We offer packages which you can change as your business needs change. You only pay for what you need, when you need it – ensuring you always have the right approach for your business.
Online accountants are efficient. We use the latest technology to save costs and pass the savings on to you. For example, being online means we don’t pay office rent as our online accountants work from home offices. As our staff don’t need to travel to an office and back every day, they have more time to focus on providing valuable business accounting services to you. They are generally more relaxed as well.
Convenience – since Covid, most of the world now uses email, conference calls and video calls. You can work in a way that suits you and get more done in your working day. This means less weekend work days and more time enjoying what matters to you. It’s more convenient for most business owners to use an online accountant. Instead of battling congested traffic and wasting valuable time, simply email, call or video call us from your home or business (or the beach!)
As virtually all business data these days is digital, there is no need to visit an accountant’s office to supply documents. We recommend and use Xero online accounting. This enables us to view and edit your business financial records in real time. Online accounting is also known as cloud accounting.
Cloud accounting means no installation, no backups needed, support when you need it and no risk of losing your business records when you lose or drop the laptop! if you are tired of keeping mountains of financial paperwork lying around the place then online accounting can make that disappear. This gives you less clutter, keeps you in control and ensures you are compliant with good record keeping, just in case the ATO comes knocking.
If you have access to an internet browser, mobile phone or tablet you can access your business finances anywhere, anytime. Bank grade security and encryption as standard with the right software means your data is as safe as it can get and not as susceptible to viruses or hacking as your own business equipment and systems. We can advise on appropriate cloud accounting software for your business.
Better advice – because we can see your accounting information with just a few clicks, you can get better advice, quicker and just when you need it – and all at less cost than a traditional accountant. How useful is last years set of accounts in a world when things move so quickly and often by the day? It’s better to have 24/7 access to your business finances and better still to start forecasting your business so you can better prepare for what lies ahead rather than what happened over a year ago. We all know that with the right information we can make better decisions. The same is true in business. Our online accountants give you the information to make better decisions ultimately meaning you spend less, create more revenue and therefore make more profit.
Better bookkeeping – Our online accountants help you leverage technology to make the most of your bookkeeping software. – Instant, 24/7 access to your financial data from a secure Internet connection is just the start of the advantages online accounting offers when it comes to technology. Your software specialist, part of your online accounting team, will recommend the functions and apps that will help you get the most from your accounting and bookkeeping software, and train you in exactly what you need to know. You don’t need to be a computer genius or know Xero like an expert. That’s what we’re here for.
Your online accounting team provides one point-of-contact for all your questions, ideas and concerns. Your software specialist, bookkeeper and accountant work together to manage your company’s bookkeeping processes and procedures. You don’t have to spend time hiring, training or overseeing bookkeepers, but you also won’t have to worry about losing control of your company’s bookkeeping. Your data is always accessible to authorized personnel through password protected logins, and you can trust that the data is always timely and accurate.
Still not convinced about using Online Business Accountants?
Despite the advantages of using online business accountants, some business owners still prefer a face to face appointment. If you’re in Brisbane, our Brisbane Business Accountants can meet with you. We also have offices in Sydney CBD and Melbourne CBD – contact us to book an appointment.
Our Online Accounting Services
Our services below are broadly categorised according to the basic lifecycle of a business. Naturally, each business is different and you may choose any combination of services to suit your requirements.
Business structure set up
Assistance with any finance requirements
Registrations with Australian Taxation Office (ATO) & Australian Securities and Investment Commission (ASIC)
Business Compliance Services
Business/Instalment Activity Statements (BAS & IAS)
Pty Ltd Company and Trust Tax Returns
Fringe Benefits Tax (FBT) Returns
Payroll Tax Returns
Capital Gains Tax (CGT)
Small Business CGT Concessions
Goods & Services Tax (GST)
Qld State Taxes – Payroll Tax, Transfer Duty, Land Tax
Monthly or Quarterly Financial reporting
Budgets & Cash Flow Forecasts
Funding approval assistance
Performance improvement strategies
Pricing strategies and profitability scenario analysis
Business acquisition and due diligence
Lease and contract review
Sale of Business
Transferring business ownership
Minimise the effect of CGT
Provide for and protect loved ones