Small Business Accountant
If you’re searching for an Small Business Accountant in Melbourne that possesses a blend of technical expertise, strong interpersonal skills, and a deep understanding of financial regulations and business practices, then the search is over.
Welcome To Trew North Accounting
Hi my name is Darren Trew and we believe that to be a great accountant is much more than just balancing the books. They should be proactive, detail-oriented, and committed to their clients’ success, continuously learning and adapting to provide the best possible service. They act with integrity and build strong, trust-based relationships with their clients, helping them navigate financial complexities and achieve their goals.
How can we help you?
Small Business Accountant in Melbourne
Hiring a skilled accountant can be a significant asset for your small business, helping you manage finances effectively and supporting your business growth. Here are some services and benefits a small business accountant in Melbourne can provide.
8 Key Services For Small Business
1. Bookkeeping
- Maintain accurate records of all financial transactions.
- Reconcile bank statements and manage accounts payable/receivable.
2. Tax Compliance and Planning
- Prepare and lodge Business Activity Statements (BAS) and Income Tax Returns.
- Advise on tax obligations and opportunities for tax savings.
3. Payroll Management
- Process payroll, including superannuation and PAYG withholding.
- Ensure compliance with Fair Work regulations and other employment laws.
4. Financial Reporting
- Prepare financial statements such as profit and loss statements, balance sheets, and cash flow statements.
- Provide insights into financial performance and profitability.
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5. Business Advisory
- Offer strategic advice on business structure, growth strategies, and financial planning.
- Assist with business plans, budgets, and financial forecasts.
6. GST and BAS Services
- Manage Goods and Services Tax (GST) reporting and payments.
- Ensure accurate and timely submission of BAS.
7. Compliance and Legal
- Ensure compliance with Australian Taxation Office (ATO) regulations and other legal requirements.
- Keep up-to-date with changes in tax laws and accounting standards.
8. Software Setup and Training
- Set up and customise accounting software like Xero, MYOB, or QuickBooks.
- Provide training for using accounting software efficiently.
Top 5 Reasons to Hire Trew North as your Small Business Accountant
Hiring Trew North Accounting gives your business access to experienced professionals who are dedicated to helping you succeed, providing reliable financial management and advice at every stage of your journey.
1. Expertise in Small Business Accounting
At Trew North, we specialise in working with small businesses, understanding the unique challenges and needs of business owners. Our team has more than 20yrs experience in bookkeeping, tax compliance, financial reporting, and strategic financial planning, ensuring your business stays on track financially while you focus on growth.
2. Tailored Tax Planning & Compliance
We take the complexity out of tax planning and compliance. Our team stays up-to-date with the latest tax laws and ensures you take advantage of all available deductions and credits, minimising your tax liabilities. Whether it’s BAS lodgement, GST, or annual tax returns, we handle it all so you stay compliant with ATO regulations.
3. Proactive Financial Advice
At Trew North we just don’t crunch numbers, we provide proactive financial advice to help you make informed decisions. From cash flow management to budgeting and financial forecasting, we offer insights that help you manage your business efficiently and position it for future growth.
4. Personalised Service
We pride ourselves on offering personalised, hands-on service. Every business is different, so we take the time to understand your specific needs and goals. At Trew North, you get a dedicated accountant who works closely with you, providing tailored advice and support as your business evolves.
5. Transparent and Affordable Pricing
We offer competitive and transparent pricing, so there are no surprises when it comes to fees. Our service delivery is of the highest quality, which means we can deliver our those services at an affordable rate. This ensures that even small businesses can access expert accounting services without breaking the bank.
Small Business Accountant Self Managed Super Fund
Setting up and managing an SMSF requires careful consideration and a clear understanding of the responsibilities involved. Seeking professional advice can help ensure the fund is managed effectively and in compliance with all legal requirements. Here are some key aspects and considerations regarding SMSFs.
Key Features of SMSF
1. Control and Flexibility
- SMSF members act as trustees and have control over investment decisions.
- Offers a wide range of investment options, including direct property, shares, and collectibles.
2. Members
- An SMSF can have up to four members.
- All members must be trustees or directors of the corporate trustee.
3. Trustee Structure
- Individual trustees: Each member is a trustee.
- Corporate trustee: A company acts as the trustee, and each member is a director of the company.
4. Compliance
- SMSFs must comply with the Superannuation Industry (Supervision) Act 1993 (SIS Act) and regulations.
- Annual audits and reporting to the Australian Taxation Office (ATO) are mandatory.
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Benefits of SMSF
1. Investment Control
- Full control over investment strategy and asset allocation.
- Ability to invest in a diverse range of assets, including real estate and private companies.
2. Tax Benefits
- Potential for tax savings through effective tax management and planning.
- Concessional tax rate of 15% on income within the fund.
3. Estate Planning
- Flexibility in estate planning and control over the distribution of benefits.
- Ability to tailor the SMSF to meet specific family or personal circumstances.
4. Cost Efficiency
- Potential for lower management fees compared to retail or industry super funds, especially for larger balances.
- Fixed costs spread over a larger fund balance can reduce per-member costs.
Frequently Asked Questions
How much does a small business accountant in Melbourne charge?
The cost of hiring a small business accountant varies based on the services you need, the complexity of your business, and the accountant’s experience. Some may charge an hourly rate, while others offer package pricing. It’s best to discuss your specific needs with an accountant to get an accurate estimate.
Can a small business accountant help with my cash flow management?
Yes, a small business accountant can help you manage your cash flow by creating forecasts, monitoring expenses, and providing strategies to improve your cash flow. They can help identify periods of cash shortages and excess, advising you on how to manage funds effectively.
Can a small business accountant assist with my business growth?
Absolutely. A small business accountant can help you plan for growth by offering insights into your financial health, identifying potential investment opportunities, and providing advice on scaling your operations. They can also assist with financial forecasting and help secure funding for expansion.
How do I choose the right small business accountant in Melbourne?
When choosing a small business accountant in Melbourne, look for qualifications such as CPA or Chartered Accountant certification, relevant experience in your industry, and positive client reviews. It’s also important to find an accountant who communicates clearly, offers services that match your needs, and fits within your budget.
What are the benefits of working with a local Melbourne accountant?
Working with a local Melbourne accountant like Trew North means they have a strong understanding of the city’s business environment and specific tax regulations. They are also more accessible for face-to-face meetings, which can help build a stronger working relationship and ensure they are readily available when you need assistance.
