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Small Business Accounting Services

Financial Accounting for Small Businesses

Financial Accounts fall into two main categories – internal accounts and external accounts.

Internal accounts are a necessity for most businesses or associations, so that financial progress can be examined and acted upon. ‘Jobs accounting’ or cost accounting is a valuable tool for management to pinpoint jobs that are not profitable.

Cash flow analysis accounts are a very useful tool for monitoring cashflows.

External accounts are for shareholders and other interested parties including those offering financial services. These are necessary for companies listed on the stock exchange and for those companies required by statute to prepare financial statements. These accounts follow a standard format which is now dictated by world standards of presentations.

We can assist you with the following Financial Accounting services:

  • Internal and External Financial Reporting.
  • Statement of Financial Performance Profit and loss statement.
  • Statement of Financial Position Balance sheet.
  • Cash flow statements.
  • Developing and maintaining financial ledger and accounting systems.
  • Maintenance of fixed asset register.
  • Accounting advice.

Company Secretarial Accounting for Small Businesses

Company legislation requires businesses to perform many administration tasks which take up a lot of valuable company time. The last thing you need as a business owner is to be stressed out about trying to ensure you are complying with the Corporations Law.

The possible threat of penalties for failing to keep up with the changing rules is too great of risk to take. We relieve this burden for you.

Our services include:

  • Share allotments.
  • Share transfers.
  • Resignation of directors.
  • Appointment of directors.
  • Annual ASIC company statements.
  • Change of address.
  • Electronic lodgement of company changes.
  • Company constitutions.
  • Formation of new companies.
  • Formation of new trusts.
  • Application for Australian Business Number.
  • Application for Tax File Number.
  • Company registration.
  • Registration of PAYG and GST.
  • Company searches.
  • Minutes preparation.
  • Business name registration.

Did you know? Small businesses with an annual turnover of less than $2 million may qualify for a range of tax concessions, such as CGT exemptions or reductions.

Tax Planning allows you to be informed in advance for all your upcoming tax liabilities, discuss any access to concessions, and ways to offset the cost of buying business assets.

Planning is preferable to a mad scramble at tax time, so book in a consultation today.

tax planning small business

Bristax Accountants – Our Small Business Accounting Approach

 

The two biggest differences between us and other Australian accounting firms are our expertise and responsiveness. You only deal with senior or partner level accountants. This means you get the expert advice you need, promptly.

Bristax provides accounting services to the small sole trader… up to the businesses with annual turnover up to $10 million. This enables us to customise our accounting expertise and services. 

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.

No two businesses are the same, so we don’t pretend that your business is just like everyone else’s. However, we do try to understand your business enough to tailor our services, our advice, and provide better value to you. 

While you run your business, doing what you do best, you cannot possibly keep up with all record-keeping and BAS. As your financial accounting partner, we help take some of that load off you.

How big do you want to grow and will that be viable? What key figures do you need to monitor that we can help you understand?

Let’s make sure your business is making sufficient profit to achieve your goals. As small business accountant specialists, we help our clients to make money. Not to grow for the sake of size and revenue alone – but to focus on profit and your lifestyle.

That’s why you decided to be your own boss in the first place.