30+ Best Business Accountants & Bookkeepers in Richmond, Melbourne [2021]

Accounting is important for small business owners as it helps the owners, managers, investors, and other stakeholders in the business evaluate the business’s financial performance. Accounting provides vital information regarding cost and earnings, profit and loss, liabilities and assets for decision making, planning, and controlling business processes.

The main objective of accounting is to record financial transactions in the books of accounts to identify, measure and communicate financial information. Moreover, tax reporting agencies require you to keep books at a minimum level that tracks income and expenditure.

On the hunt of business accountants & bookkeepers in Melbourne? Finding the right accountants and bookkeepers can be a stressful endeavour. After all, there are so many companies, options, and prices out there to consider.

So, finding accountants and bookkeepers that offers supreme service and a carefully curated selection of professionals is a true life-saver.

To help you get started on your accountant and bookkeeper hunt, we’ve rounded up our favourite business accountants & bookkeepers from right across Melbourne.

Ultimate List of Business Accountants & Bookkeepers in Richmond

Bookkept – Business Accountants & Bookkeepers Richmond

bookkept.com.au

(03) 8568 3606

Bookkept are CPA qualified accountants and business advisors that provide quality professional accounting & business advisory to small & medium business clients. 

We take care of small business compliance, bookkeeping & ATO issues. We’re specialists on Xero/MYOB & payroll on the accounting side and help with business process and systems to ensure you have the capacity to grow your revenue.

Tax & Business Accounting Services

Your end of year tax returns & financials is an undervalued part of your tax year. We make sure your financials are completed on time & correctly, and we are able to do this because of the focus we put on your books. We’re a small team of Chartered Accountants focused on giving you peace of mind. We offer a wide range of interrelated accounting and taxation services. With our end-to-end service, you’ll never worry about things falling through the cracks between your bookkeeper and accountant.

Personal Tax Returns

Experienced & knowledgeable in income tax, we complete tax returns for individuals & business owners. Our returns start from $79 with the guarantee that we maximize your allowable deductions. Bookkept Bookkeepers & Tax Accountants look for ways to minimise your tax liability and maximise your deductions and will need certain information to help you with your tax return.

Bookkeeping & BAS Services

Bookkeeping is an essential element of every business and its importance is often overlooked. We are experts in Xero & MYOB who can train you, or take control so you can focus on what’s important. We are the “go-to” experts when you need Professional Bookkeepers in Victoria. Bookkept can handle all your Bookkeeping needs from payroll to BAS and everything in between. Expert BAS Agents, Bookkeepers & Accountants. Devising tailored strategies to help your business grow. Bookkept is a boutique accounting and bookkeeping firm in Melbourne that offers complete business solutions. We specialise in end to end accounting services, providing the services of our professional BAS agents and bookkeepers to ensure your finances are managed from start to finish. Our aim is to free your time to allow you to focus on running your business.

Bookkept is a cloud-based tax and business advisory firm located in Melbourne, servicing clients Australia wide. We offer a comprehensive range of accounting and business advisory services tailored to meet all accounting requirements across a wide range of industries.

We’re not just accountants, we’re business people too. We know what it takes to start a company and risk it all to build a successful business. Our experience navigating the business world began with our own involvement in respective family businesses and grew through over 15 years of combined experience in the tax and business services landscape.

Cliché as it may sound, we are not your typical accounting firm. After working in various accounting firms with clunky software, cubicles and excessive middle management Daniel and Brendan came together with a clear vision of what a progressive accounting firm should look like. We’ve thrown out all of the stereotypes; timesheets, charge out rates and silly overheads to deliver innovative and actual value to our clients. Your typical accounting firm has all these things and then inadvertently passes these costs on to their clients through inflated bills that increase every year. We provide complete transparency when it comes to our fees. We charge for delivering a service, rather than running a clock.

Bookkept helps clients manage their cash-flow and delivers continuous value by providing high-level visibility on business performance. Besides handling tax and bookkeeping matters, we provide true value to our clients by guiding them through their financial reports, enabling them to better understand how to control their growth and take opportunities further and higher. We keep in touch with our clients on a regular basis to ensure they are on top of their taxes rather than meeting with them once a year to discuss a big tax bill for a tax period that ended 9 months prior.

We walk our clients through the many accounting processes within their business structure and provide guidance and insights on tax planning and asset protection. We call this ‘future proofing’.

There is no greater thrill for us than when our clients hit and/or smash their goals out of the park! We are dedicated to creating innovative and bespoke accounting solutions for our clients using a suite of cloud-based products to achieve customised birds-eye view of their business and how it is performing. We practice what we preach too, our office is completely paperless and cloud-based – we don’t even have a printer!

Our ability to pivot and problem solve sets us apart from our competition and empowers our clients to unleash their full potential.

Hillyer Riches – Business Accountants & Bookkeepers Richmond

hillyerriches.com.au

(03) 9571 5333

Based in Caulfield East, Hillyer Riches is a friendly dedicated team of qualified accountants, business advisers and mentors for family-owned businesses.

With over 30 years of experience, we don’t just talk about theory, we give practical advice that helps you achieve real results.

Whether you’re a startup with an innovative concept, establishing a new company, growing or consolidating your business, maximising your superannuation, or seeking the right advice about how to protect your investments, Hillyer Riches gives you an advantage.

Our accountants are trained experts in cloud accounting solutions and are able to provide advice and guidance on the adoption of the right technology to suit your business. As a partner with MYOB, Quickbooks & XERO, Hillyer Riches is able to review your needs and select the system that suits you best.

About Hillyer Riches

Good Accounting Is A Game Changer Because It’s Not Just About The Numbers, It’s About Helping You Manage The Performance Of Your Business.

A team of highly specialised tax accountants within a firm established over 3 decades ago, we offer quality accounting consultation in the Melbourne area. Learn more about us.

We’re Great At The High-Level Conceptual Stuff As Well As The Detail.

If you want us to, we’ll help you turn your vision into a finely honed plan. We enjoy brainstorming with you, scribbling down notes and coming back to you with a practical concept map of how to get to your goal.

We Know How To Run Our Own Business So We Can Help You With Yours.

We’ve been in business for over 30 years. Our experience growing our business means we don’t just talk about theory, we give practical advice that helps you achieve real results.

We’re Accountants. We Get Finances And Numbers.

We can read a balance sheet and P&L like a conductor reads a musical score. We can spot the core health of a business, knowing where the cash has gone and how it should be used.

We Help You Get Your Business Model Right.

If you’re an early stage investor, just starting your business from scratch or growing it to something great, our senior partners will learn what makes your business unique and help you manage cash flow and costs, learn business disciplines and avoid costly mistakes.

We’re Part Of Your Team.

We are a proactive accounting firm. We learn your needs and share your objectives. We’re dedicated to helping you grow and developing your business throughout the year. We’re always at the end of the phone and are happy to catch up over a coffee and a spreadsheet at any time.

We Help You Through The Tax And Regulatory Maze.

While tax and compliance may not be your highest day-to-day priority, neglecting them can create costly problems down the track. We find the right tax strategy (concessions and exemptions) so that your journey to business success is smooth and smart. Support from our specialists helps you start right and keep things right without the stress of uncertainty or burden of doing it all yourself.

Hillyer Riches is a team of specialists with a real interest in your business. If that sounds like the kind of accountants you need, it’s time to take us up on a free consultation.

EWM – Business Accountants & Bookkeepers Richmond

ewmaccountants.com.au

03 9568 5444

As specialist taxation and advisory firm, we don’t force round pegs into square holes. We build our procedures to fit your firms with specific requirements. Like to receive files by Dropbox®? We can do that. Prefer to get old- fashioned correspondence by mail? Need bookkeeping or just payroll help in addition to accounting services? We can help. Need finance advice as well? Not a problem. We will develop a service process that’s appropriate for your needs.

BUSINESS ACCOUNTING SERVICES

EWM Accountants can deliver you the financial information you want, right when you need it.

TAXATION SERVICES

EWM Accountants can ease tax issues because we understand it. We take pride in delivering relevant and valuable tax advice.

BOOKKEEPING SERVICES

We provide a full range of bookkeeping services to give you more time to do the things you enjoy.

SMSF ACCOUNTING, TAXATION AND AUDIT

SMSFs are a very powerful retirement planning vehicle that allows you greater flexibility and control over savings and investments.

ATO AUDIT HELP & ASSISTANCE

At EWM Accountants, we view Audits not as an overhead or a necessary evil but rather as a great opportunity to review your business.

BUSINESS FINANCE AND INSURANCE

We can find you the most affordable and effective finance and insurance options to suit your needs.

BUSINESS REVIEW & PLANNING

EWM Accountants offer a full suite of services to assist you in buying and selling businesses or to just keep your business on track.

GROWTH MAXIMISER

EWM Accountants is focused on helping you grow your wealth.

PAYROLL

Assigning your payroll to EWM Accountants allows you to focus on what you do best by saving you time and money.

RETIREMENT PLANNING

EWM Accountants can provide sensible advice on structuring your personal financial needs and requirements to meet your retirement plans.

VIRTUAL CFO

Our Virtual Chief Financial Officer service can help your business succeed by freeing up yourself and your team to grow the business rather than get tied down in internal administration

EWM Accountants and Business Advisors are Chartered Accountants helping small business with their accounting, bookkeeping and taxation needs. Established more than 30 years ago, we are experts in helping small business and specialise in construction, investment, medical, dental and manufacturing industries. Based on busy Oakleigh in Melbourne, the firm is made up of a group of expert accountants who bring a wealth of experience to help fulfil our vision.

Our Vision

To be the only accounting and taxation small business advisory firm our clients need to help them recognise the potential in their present and to shape their future.

Our Mission

To help families turn their enterprises into new era businesses and succeed in the next decade and beyond. Every day we assist our clients on their path to success – they pick their path and we assist them on the way. Our clients define for themselves what success is and we partner with them on their journey and take immense pride in their achievements.

Smart Business Advisors – Business Accountants & Bookkeepers Richmond

smartbusinessadvisors.com.au

03 9075 7301

Welcome to Smart Business Advisors

Since the very first day the accountants and advisors at Smart Business Advisors, are here to change the entire game plan and make your business go better and smoother ever than before. Increasing your chances of accomplishment is our top priority. We possess years of experience in Financial Accounting, Bookkeeping, Financial management and providing strategically sound business and commercial advice to grow your business sky-high. We have a very proactive and veteran team of accountants to provide you with the best of results you have been craving for.

ABOUT SMART BUSINESS ADVISORS

How accounting firms like Smart Business Advisors are in the news nowadays. There is a major gap between Tax Accountants & business owners. Many Small business organisations face lesser access to Professional Accounting & Bookkeeping services due to lack of resources. This gap in capability results in missed opportunities and puts hindrance towards potentiality and growth. This is why one should take business advisory services from a professional business accountant.

Since the very first day the accountants and advisors at Smart Business Advisors, are here to change the entire game plan and make your business go better and smoother ever than before. Increasing your chances of accomplishment is our top priority. We possess years of experience in Financial Accounting, Bookkeeping, Financial management and providing strategically sound business and commercial advice to grow your business sky-high. We have a very proactive and veteran team of accountants to provide you with the best of results you have been craving for.

Call us at 03 9075 7300 to make an obligation-free appointment and see how we can change the fortune of your organisation in your favour.

Reliable Melbourne Accountants – Business Accountants & Bookkeepers Richmond

rmelbourneaccountants.com.au

1300 049 535

Leading Accounting Firm in Melbourne For Your Business

Welcome to Reliable Melbourne Accountants, creative accounting and business consulting firm specializing in helping ambitious business owners in Melbourne. We are specialists in all areas of taxation and corporate accounting and work with small to medium-sized businesses. We build all facets of the financial needs of our clients through strong customer relationships to achieve their goals and bring back the balance they need!. An accountant’s main work is to account for the company’s income and expenses, prepare the relevant documentation, prepare and submit a report to the appropriate authorities.

Our main aim to keep the score and work on accounting, taxation and financial statements, but we also have the business services, taxation services, and professional services that make us different from the competitive accounting firms in Melbourne.

As we are one of the best leading Accounting firms in Melbourne for the last 12 years, our services and trust towards clients inspired and motivated us to expand across Australia. We do understand, Tax returns are one of the key priorities to accomplish your obligation as well as tax refunds which you have planned since a current financial year.

With our best tax trained and specialist personnel, we ensure to take into consideration all your points and make sure to “Maximise your Refunds” * and at an affordable cost. We do activities with all the queries that are coming up from the Australian Tax Office (if any) after the tax lodgement.

We shall guide you for further tax obligations to be met and give you the best way to make savings for the next financial year in respect of deductions and rebates applicable to you based on your profession.

We also take into consideration the depreciation schedules for your assets purchased during the financial year either it might be with a motor car or any other equipment purchase for which tax laws are applied accordingly.

There might be certain circumstances which is a very instance, where your tax returns need to get amended or revised based on the quires raised by ATO and by which, we do take care complete responsibility in meeting with the obligations.

Slate Accounts – Business Accountants & Bookkeepers Richmond

slateaccounts.com.au

1300 660 120

Accounting and Bookkeeping Services

Bookkeeping services

Keep your accounts up to date, make sure you’re on time with the ATO and get visibility into your business performance.

Read more

Xero Accounting and Bookkeeping Experts

As Xero Silver Partners we’ve moved dozens of clients to Xero and our staff know it back to front. Call us to get started or to get more from Xero.

Outsourced Accounting Services

Flexible resourcing to run your accounts smoothly, pay staff and suppliers, invoice and collect and be on call for you and your team.

Accounting Systems and Processes

Save time and money, get great business insights with Slate’s expertise in the best systems and processes for accounting and everything connected to it.

Bookkeeping Services for Accountants

We deliver greater value and efficiencies to accountants when they refer their clients’ bookkeeping to us on a preferred provider basis.

Industry Expertise & Knowledge

We have specialisations across a number of industries and have enough nous to get across your business quickly.

About Us 

Team

Capable and efficient bookkeepers led by a chartered accountant with a strong commercial background. Our passion for finance, technology and organisation will help transform your business.

How We Work

Slate seriously loves business. Our approach is modern, informed and fresh. We’ll have your accounts running smoothly in no time.

Clients

Our clients want accounting and financial systems that deliver clarity and efficiencies. We offer bookkeeping and related services to businesses of all types including architecture and design, corporate, fashion, health, hospitality, kindergartens, not-for-profit, professional services, primary industry, property, retail and more.

Carbon Group Accountants – Business Accountants & Bookkeepers Richmond

carbongroup.com.au

1300 454 175

Professional accounting services for your business

Running a business can be stressful enough without having to worry about your tax obligations or other accounting admin tasks.

At Carbon Accounting & Tax, we’re here to make it as easy as possible for you and help you to take the driver’s seat of your business’ success.

Our aim is to give clients the tools to make informed business and personal decisions. In today’s business environment, you need more than just advice on tax compliance and liability – you need a business partner who works in tandem with you, year-round.

Professional cloud-based bookkeeping by qualified accountants.

We’re a team of qualified accountants and BAS Agents and are a Xero Platinum Partner and MYOB Diamond Partner. This means we’re at the top of our game when it comes to online bookkeeping.

We understand the headaches that business owners experience first-hand as we are small business owners ourselves and aim to relieve that stress for you. We offer the full spectrum of bookkeeping services, whether it’s simply setting up a cloud-based bookkeeping system for you to work from, lodging your quarterly BAS or paying all your bills on a regular basis. These services include data entry, accounts payable and accounts receivable, debt collection, payroll, super, GST and BAS.

Not only can we set up Xero and MYOB for you, but we can train your team on how to run it. This education piece is important to us because we want to ensure you and your staff are confident in using the systems we put in place.

Our CFO services can assist with budget vs variance analysis, growth and profit strategies, virtual CFO and advisory boards. Carbon helps you go deeper into your business insights than ever before and will continue to work with you as you grow.

Sometimes, business owners feel afraid to get the help of a bookkeeper or CFO because they’re embarrassed to share their books. You shouldn’t worry, no matter what mess you are in, we’ve seen worse (and sorted it out!).

Whatever your bookkeeping needs, we put your data right at your fingertips on any device so that you complete tasks, track progress and examine performance at anytime from anywhere.

With our team of qualified accountants completing your bookkeeping, you’ll rest easy knowing your business’ books are in good hands.

About our branch

Carbon Melbourne’s team of industry-leading accountants are passionate about guiding and empowering business owners to create profitable and self-sustaining businesses by using the latest technology and accounting software.

Our experienced team have worked with businesses of all sizes, across a range of accounting, bookkeeping and advisory needs. This includes tax planning, tax returns, Self-Managed Super Funds and the full suite of bookkeeping services.

By building a close, trusted relationship with clients, the Carbon Melbourne team provide tailored advice, as well as educate clients on how to achieve their business goals.

With access to the Carbon’s wider network of services, we can also help with finance, financial planning, insurance, payroll, R&D and grants.

with our team of experts located in our offices near you in Melbourne, we’re ready to help you, find the closest office to you:

  • Mt Waverley
  • Seaford
  • Mornington
  • Warragul

Get in touch to find out how we can help.

Our proud history

In 2019, Carbon partnered with Melbourne firms Bosker Accounting and Ross Group, opening our first office in the Melbourne CBD.

Accounting & Tax Partner Igor Hnatko and the Bosker Accounting team had over 20 years’ experience helping Melbourne businesses grow.

Family-owned Ross Group, led by Accounting & Tax Partner Ashley Ross had been providing clients with exceptional accounting and financial planning services to clients for over 30 years.

Together with Carbon Bookkeeping & CFO Services Partners Allison Gardiner, Kate Kapovic and Deb Vawdrey, Igor, Ash and the Melbourne team offer a range of accounting, advisory and bookkeeping services across Melbourne.

In 2021, Warragul-based firm, BNR Bookkeeping partnered with Carbon Group, expanding our presence to the Gippsland region. BNR Bookkeeping Managing Director, Deb Vawdrey is now leading our Warragul bookkeeping services, helping business owners in the area.

Uplift Accounting – Business Accountants & Bookkeepers Richmond

upliftaccounting.com.au

03 8510 7528

Value Beyond Numbers!

Uplifting your business is about bringing the best out of your business. It’s about decluttering for clarity, order, focus and peace. Ultimately, it’s about building your confidence and helping you reach your goals. Get all accounting service according to your needs with one of the top accountant in Melbourne!

We want you to play to your strengths and run your business successfully. So we take care of the heavy lifting and free up your time so you can work on taking your business to the next level. Our aim is to help our clients grow their business by providing them with efficient accounting and taxation services.

Get acquainted with your versatile business uplifters today!

Are you a small to medium-sized business looking for tax, accounting, bookkeeping or business advice?

Is your business looking to outsource its accounting operations to an Australian-based, Australian-owned accounting firm? Are you a growing business frustrated with not receiving timely, proactive financial advice?

Do you want to achieve greater efficiency and scale by streamlining your outdated business processes using the latest cloud technologies available?

Whatever your accounting and business advisory needs are, we’re here to take care of you. Your physical location isn’t so important. We connect with our clients virtually and globally using the latest innovative technologies. We’re modern yet professional accountants looking into the future.

Are you ready to get started? Let’s talk today to find out if we’re a good mutual fit.

FOUNDED IN 2013

Our team of experienced and qualified accountants, bookkeepers, mortgage brokers & business advisors in Melbourne are passionate about helping individuals, families and businesses find integrated yet affordable solutions while eliminating the stress and hassle that comes with any business or personal financial situation.

We do this by assessing all aspects of your current business or personal financial situation, helping you to articulate clear goals, and identifying what you need to do (and how best to do it) to get to where you want to be.

Whether you’re a business owner looking to grow your business with less stress, or a wage earner/investor/trader wanting to maximise your money and build multiple streams of income for when you choose to stop working, our holistic approach to your financial situation will give you the flexibility to live life on your terms.

Contact us today to arrange a free discovery meeting so we can help you achieve your goals sooner and safer.

OneLedger – Business Accountants & Bookkeepers Richmond

oneledger.com.au

(03) 9996 0146

Accounting

OneLedger approaches accounting in a completely new way.

We come in with fresh eyes, to ensure that your business structure and systems are perfect for your current set of circumstances.

Our commercial experience and skin-in-the-game approach allow us to give you the best possible advice by reporting on past data and projecting future growth.

We’ll help you set and achieve your short- and long-term financial goals so you can trade at your full potential and achieve long-term success.

Bookkeeping

Our experienced bookkeepers and account managers are here to help you with the more mundane tasks involved in running your business.

We can help with your ongoing financial recording and transactions to keep your business running smoothly.

Whether you want to take the lead or you need someone to do the number crunching for you so you can get on with growing your business, we can support you with that.

Also, our targeted reporting will allow you to make better and more informed decisions where it matters most.

We ensure any taxation changes will benefit you in the best way possible as a business owner.

The beginning

In 2013 we were fed up with just being the corporate tax guys or the number nerds. We wanted to be more. A lot more.

So like any good Melbournian, we spent a lot of time in cafes dreaming of the future.

We dreamt of a time where we would not only provide accounting services, but we’d be partners with our clients, helping them learn and grow their financial position or business to be greater than they ever imagined.

WE WANTED TO HELP THEM SET BIG GOALS AND ACHIEVE THEM.

AND SO ONELEDGER WAS BORN.

A new way

The accounting industry is continuously changing with a clear shift to cloud-based, real-time advice.

We’ve built OneLedger at the forefront of the latest technology, offering a start-up friendly, rapid expansion service where each client can pull their latest financial position straight away.

Of course, we will always offer traditional accounting and tax services but our point of difference lies in our extended support.

We’re big fans of our clients, like KX Pilates (we love going to their classes) and Cupcake Central (yum!).

We’re all in. We provide business management and coaching services to help our clients set their financial goals and hold them accountable throughout our journey together.

For those who need extra support, we also offer full outsourcing of the accounting function to reduce overheads and streamline processes.

Start your engines

Business startups are one of our specialist services. We assist our startup clients in choosing the right company structure and funding programs.

With our focus on technology and our heavy involvement with startups, we ensure we keep up-to-date with the industry through our memberships with specialty groups such as Business Chicks and Startup Victoria.

This year, we are a proud sponsor of StartUp Victoria, cementing our involvement in the entrepreneurial space.

In just over two years, we have grown OneLedger to nine full-time staff (plus the expertise of freelancers and consultants to assist with other areas such as PR and marketing).

Although we love working with startups, we wouldn’t be where we are today without our individual clients.

We love working with families all across the globe, helping them with their tax returns and financial needs.

Reaching out

As our way of saying thanks and giving back, we have been supporting wonderful causes like the Global Women’s Project, Starlight Foundation, Kids Under Cover and RSPCA.

Our triple-digit growth year on year is a testament to our committed team and exceptional clients. To expand on our home base in Melbourne, we have established a physical presence in Perth and Vietnam, with offices soon to come to Sydney and San Francisco.

We are proud of our own achievements, and we take great pride and pleasure in seeing our clients excel and grow beyond what they thought possible. In particular, one of our long-standing clients has grown from a single stand-alone store to grow to have 50 stores across Australia in a relatively short period of time.

Our mission is to help people achieve their goals and make better choices for themselves and their businesses.

We know this is just the beginning. We can’t wait to see what the future has in store for us all.

Befree – Business Accountants & Bookkeepers Richmond

befree.com.au

1300 8 7 3734

Gain control. Gain a competitive edge

Trusted by over 700 businesses, we are one of the largest bookkeeping companies in Australia. We deliver best practice bookkeeping, accounts and payroll solutions tailored to your business’ needs. Don’t worry, we’re a CPA firm and Registered Tax Agent, so we can handle all your ATO obligations too!

WHY BEFREE?

Great fixed prices

Our standard bookkeeping rate is only $28 plus GST per hour and in most cases, we can offer fixed fees for the work we do.

Regular reporting and fast turn around

We provide regular reporting for all of our clients and can also conduct regular reviews of your accounts to make sure you stay in control!

Trusted by more than 700 clients

We have over 500 regular clients spread across a variety of industries and with business sizes ranging from $100k to $50m turnovers.

All software welcome

We are experienced in all major accounting software including MYOB, XERO, QuickBooks, SAASU, Sage, ExoNet, Netsuite, Accrivia and many more. We won’t turn you away because your software is different!

CPA firm and Registered BAS Agents

We can untangle many years worth of bookkeeping to get you back on track. No job is too big!

Experience

We’ve been providing our services for over ten years and our directors have over 50 years of combined experience in accounting and bookkeeping services. You’re in safe hands!

Qualified staff to handle your workload

We have more than 65 full-time accountants and bookkeepers at our office all working for our clients. You can always count on us to handle your workload.

Flexible

Use our bookkeeping services for a few hours a month, on a full-time basis, or anything in between – we change the level of our service as your business needs change. Whether you only need a specialist service.

Who we are and what we do

At Befree, we help companies of all shapes and sizes to manage their accounting and bookkeeping requirements. Trusted by over 700 clients across a multitude of sectors, we work closely with them to deliver solutions modelled around their needs – either to fit within their current systems and processes or work out a completely new streamlined process for improved efficiency.

On The Money Bookkeeping – Business Accountants & Bookkeepers Richmond

otmbookkeeping.com.au

1300 767 181

On The Money Bookkeeping are experts in the sphere of evolutionary and excellent business bookkeeping.

We are passionate professionals committed to delivering beyond your expectations. We offer far more than everyday bookkeeping—we are your dedicated business keepers!

We love working with savvy and forward-thinking business owners who have big dreams and are looking for expert assistance in achieving their objectives along the straightest path to their destination.

We work collaboratively with you and your tax agent to proactively manage your business financials and processes. This allows us to assist you in minimising business risk, improving performance and driving efficiency whilst advising on your business compliance.

We understand the story your numbers are telling and we enjoy interpreting those figures in ways that are meaningful and valuable to you and your business.

Our Bookkeeping and Accounting Experts

On The Money Bookkeeping is an established business in Melbourne, Australia. We live up to our name by providing precise and correct accounts management for small to medium businesses. Having us as your outsourced financial management partners allows you to be confident in the knowledge that your business is being looked after.

We’re different from other bookkeeping services because we offer more than just accounts reconciliation and BAS. We offer what we call ‘business keeping’. It’s a highly proactive approach to supporting business owners beyond the simple recording of transactions in accounting software. We’re highly interactive and ask a lot of questions. We aim to understand your business and what really matters to you, and we tailor our approach accordingly.

We support business owners in a variety of ways, from specific education on topics that are highly relevant, to what’s happening and changing in the business, to helping with cash flow management and even human resources. We are familiar with the challenges faced by many growing businesses and we’ve got solutions. This can come in the form of advice, software implementation, training, or referrals to quality business professionals with specific skills.

Our staff are highly experienced and qualified and engage in regular professional development. We are actively involved in the bookkeeping industry and are members of professional associations that keep us abreast of changes to both the GST and its related laws, and to professional practice in our industry. Our memberships also keep us connected to a large network of professional peers with whom we exchange information about bookkeeping techniques.

We’re really passionate about adopting new technology to maximise our effectiveness. We know that labour is expensive and we aim to automate as much as we possibly can to deliver top-notch bookkeeping and accounting as efficiently as possible.

Our dedication to technology and managing its associated risks are also taken seriously internally. We adopt two-factor authentication wherever it is available, even when it’s not mandatory; we use password managers instead of browsers to store login credentials; we avoid sending passwords via email; staff are trained in identifying phishing attacks; we have monitored IT services and we also hold a separate cyber insurance policy.

Carmen Morris, principal of On The Money Bookkeeping, was awarded Fellow Membership with the Institute of Certified Bookkeepers in 2014 in recognition of active engagement with and significant contribution to the bookkeeping community.

On The Money Bookkeeping is a registered BAS agent, licensed under the Tax Practitioners Board in accordance with the Tax Agent Services Act 2009 and the Tax Administration Act 1953.

A registered BAS agent can advise on and ascertain liabilities for a business owner in respect to GST, PAYG withholding, PAYG Instalments, superannuation, taxable payments annual report and other BAS-related services, including fuel tax credits and wine equalisation tax. This legislation was implemented in order to provide security, standards and reliability for business owners who want to outsource their bookkeeping.

In accordance with the requirements of the Institute of Certified Bookkeepers, Australian Bookkeepers Network and the Tax Practitioners Board, we are bound by professional codes of conduct, which include maintaining qualifications, participating in ongoing education and holding professional indemnity insurance. We must also act with honesty, integrity, independence, confidentiality and competence.

We are committed to providing you with outstanding service, expert advice, contemporary technology and continuous improvement.

Chan & Naylor – Business Accountants & Bookkeepers Richmond

melbourne.chan-naylor.com.au

03 9888 3176

Bookkeeping

Our Chan & Naylor Melbourne bookkeeping team will be happy to assist you with all of your bookkeeping needs. We provide high-quality, cloud-based bookkeeping services Australia-wide. You will be able to access your records and reports wherever you may be and at any time that you want.

We only use the best and secure bookkeeping software (Xero) to help you organise your books. Xero allows us to easily integrate into the existing system that you already have in place. If you don’t have a bookkeeping system in place yet, we will give you access to Xero – a secure online cloud-based system for your record-keeping that ensures accessibility of your books anytime and anywhere. Our bookkeeping specialists will manage this for you and even train you and your staff.

Our Bookkeeping services include:

  • reconciliations & rechecking invoices
  • inventory control
  • managing profit-loss statements
  • BAS
  • income tax returns
  • payroll & superannuation obligations
  • budgeting & forecasting
  • KPI tracking & benchmarking
  • Cloud-Based Bookkeeping

Using cloud-based accounting software means all sorts of increased efficiency for your business. It also means you can check your bank balances from the golf course, pay invoices from the couch and activate payroll from the car.

Cloud-based solutions also deliver in real-time. Once data is entered or any action is taken, it is updated instantly and available to every person with access to your platform, no matter where they might be in the world.

For our clients, it means bookkeeping is faster, easier and more efficient, and certainly more accurate. For us, it means we can deliver a higher level of service, from anywhere, at any time and for less than the cost of employing an onsite bookkeeper. Talk to us today about cost-effective bookkeeping services we can assist with.

Have you outgrown your Tax Agent or Tax Accountant?

Your family accountant may be costing you more money than you’re paying them by not giving you the maximum deductions you’re entitled to. For a second opinion on your tax return or if you’re looking for proactive tax accountants with reliable property tax advice and accurate tax returns for property investors – trust the experience and reliability of the leading specialists in property tax accounting.

Benefits of Being Financially Sorted…

  • Less stress and better health
  • More options in lifetime & choices
  • The freedom to be generous
  • More financially stable kids

We love to work with passionate and motivated individuals and business owners who have ambitions objectives for the future. We understand that it’s critical for you to have a team of experts in your corner, to work with you!

Our History

Chan & Naylor Accountants was established in 1990. Both founders, Edward Chan & David Naylor have helped Chan & Naylor become one of the country’s leading accountants for property investors, specialising in structuring. Peter Locandro was the CEO & Founder of Financially Sorted who began operations in April 2017. Peter was originally involved in a large partnership for some 20 years but left to commence Financially Sorted. His objective was to help clients become financially sorted in all aspects of their business & financial lives. Peter was then approached to become the managing partner of both businesses and this officially occurred on the 1st July 2019. Chan & Naylor Melbourne incorporating Financially Sorted was officially born on this day.

Capita – Business Accountants & Bookkeepers Richmond

capitabatc.com.au

1300 135 555

Experienced and Professional Accounting Services in Melbourne

At Capita Business Advisors & Tax Consultants, our team of experts and advisors are here to provide you with accounting, bookkeeping, taxation and business advisory services that can take your business to the next level. We are not just here to crunch the numbers; we want to be your partners in success. Any firm can provide you with compliance services. We give you the full range of tools you need to reach the profitability you’ve envisioned.

ACCOUNTING & BOOKKEEPING

As a full-service accounting firm, we can provide you with simple bookkeeping to Virtual CFO services and everything in between.

BUSINESS ADVISORY & CONSULTANCY

We want to be your trusted business support team; our skilled staff offers a broad base of expert knowledge we will tailor to your business, from start-ups to budgets to cash flow and more.

TAXATION SERVICES

Let our tax experts guide you in tax planning and compliance, whether you are an individual, sole proprietor, property investor, partnership, trust, not for profit, or company.

AUDITING

We specialise in quality audits to meet both government regulation and outside reporting requirements and provide valuable information to business owners.

BUSINESS PACKAGES

Beyond one-time advice, we can provide you with customized business packages to tune-up your business performance and transform your business for maximum efficiency and profit.

SECTORS WE SERVE

We provide specialised experience and knowledge in various sectors: from lawyers to medical professionals, childcare to aged care, teachers to RTOs, IT consultants to tradespeople.

Firm’s Goal

At Capita Business Advisors and Tax Consultants, our main goal is to ensure that all client engagements are being performed to the highest possible standard in a timely fashion to suit the individual requirements of the client. In order to achieve this standard of service, we concentrate on four key goals:

  • Maintain currency of knowledge through continued professional development opportunities;
  • Maintain existing client base through superior customer service and relationship management;
  • Maintain an active presence in the community by providing valuable financial expertise;
  • Approach all engagements with integrity and objectivity maintaining professional competence while ensuring due care and quality of work.

We believe the role of accountants goes beyond mere number-crunching. Of course, we provide our clients with on-time advice, timely reporting, meeting due dates, compliance with legislation and ATO. But we go beyond compliance.

We believe the best accounting firms form a strong partnership with clients, to create a business team poised for growth and success.

Think Accountants – Business Accountants & Bookkeepers Richmond

thinkaccountants.net.au

(03) 9428 9631

Here at Think Accountants, we deliver business strategies and solutions outside the square. We service a diverse range of clients including micro, small and medium-sized business owners from a range of industry sectors in the Burnley, Richmond and Hawthorn, as well as throughout Victoria and Easter Australia. We are expert franchises accounting, startup accountants in Melbourne and our practice is large enough to offer specialised advice and small enough to guarantee personal service to our clients. Living in the time of increasing financial complexity, we have responded to the needs of our clients and now offer a complete range of accounting, taxation, business advisory and financial services.

Specialized accounting services in Melbourne

Whether you are a small business or a large one, it is in your company’s best interests to have the best accountants in Richmond as a partner to manage your company finances. After all, strong finances are one of the most crucial assets to ensure your business growth as well as longevity, and having an accountant you can rely on is akin to having a trusted business partner.

Think Accountants offers a range of specialized accounting, taxation, business advisory and tradies accounting, franchises accounting, startup accounting in Melbourne. We help individuals and businesses to make the best financial decisions with our tailored, yet surprisingly cost-effective services. Apart from managing their accounts, our clients often come to us for an honest evaluation of their company performance as well as managing and communicating important financial information to key company stakeholders. This helps them look at the big picture, and empowers them with what they need to know to get their business to thrive in the competitive and ever-evolving business environment today.

We think differently…

Here at Think Accountants, we deliver business strategies and solutions outside the square. We service a diverse range of clients including micro, small and medium-sized business owners from a range of industry sectors in the Burnley, Richmond and Hawthorn areas.

Our practise is large enough to offer specialised advice and small enough to guarantee personal service to our clients.

Living in the age of increasing financial complexity, we have responded to the needs of our clients and now offer a complete range of accounting, taxation, business advisory and financial services.

If we cannot directly assist clients we draw on the extensive knowledge of our alliance partners to ensure they get the best solution for their needs.

Commitment to the success of our clients is foremost, and we achieve this by offering a number of services including:

  • Management Consulting Business advisory
  • Tax Planning
  • Business & Investment Finance
  • Business startups & sales
  • Accounting, including preparation and analysis of financial statements
  • Tax return preparation
  • Superannuation set up and administration (Through our associates)
  • Estate and succession planning
  • GST
  • Capital Gains Tax planning and reporting
  • Vehicle & Equipment finance

RBK Advisory – Business Accountants & Bookkeepers Richmond

rbkadvisory.com.au

(03) 9010 6001

Allow us to introduce ourselves.

We are a team of out-of-the-box thinkers who have stripped back an over-priced, over-complicated industry and have created an efficient business, where conversation, and getting to know people and their financial needs, is a priority.

We’re not regular accountants, we’re cool accountants. What does that mean? We don’t give you numbers advice and then leave you to it. The RBK Way means we’re in it for the long haul – your success is our success. Have the entire spectrum of accounting and advisory services covered for your business using technology, innovative thinking and some very friendly and knowledgeable people.

The crux of our story is much the same as any of our other business clients. We saw the room in our industry for change and knew we could incite it better than most. Through the relentless pursuit of innovation, we aim to not only improve businesses but also lifestyles. Genuine care for our community has led us to question industry norms and blow them out of the water.

What happens when you have new ideas, an inherent love for what you do, and the experience to back it all up? You excel. Don’t take our word for it – we were awarded Australian Xero Partner of The Year for 2018.

This one is self-explanatory. Why should professional service business owners put themselves in our hands? Because that’s exactly what we are. Including lawyers, advertising professionals, architects, financial advisers, engineers, consultants, and more!

We took the idea of making a difference to our people, the wider community and the environment to the next level by becoming BCorp certified. Joining our team means you’re also joining a force for good. As one of only two accounting firms to be BCorp certified in Australia, being part of the team says that you care about balancing purpose with profit, that you seek positive change in the world and that you genuinely care for those around you, and the planet that you live on.

Tax Purpose – Business Accountants & Bookkeepers Richmond

taxpurpose.com.au

+61 3 8839 6063

Hire Tax Agent or Accountant in Melbourne – An Expert in Tax Return

An experienced tax agent and accountant in Melbourne. Tax Purpose was established in 2011 and with years of experience in accounting and taxation services, we specialise in our field of offering in Melbourne. We are committed to providing professional accounting and GST services to our customers and to meet their expectations.

Our Vision is to sustain long-term growth with long term clients driven by the simple art of maintaining mutual satisfaction and appreciation. We are a registered DASP agent in Melbourne.

Tax Purpose offers a wholly individual approach to taxation and accountancy services. Our professional tax agent is patient, experienced and friendly, and they offer a taxation service that’s customized to your needs in Melbourne. That means you get all the knowledge and experience of the professional tax consultants; there’s always someone on hand to assist. Our tax planning specialists offer a bespoke taxation service, based on your prompt requirements; you can have as much or as little assistance as you require.

About Us

Expert Tax AgentsTax Purpose was established in 2011 and with years of experience in accounting and taxation services, we specialize in our field of the offering. We are committed to provide excellent services to our customers and to meet their expectations. We aim to provide professional services to all our customers in Australia, regardless of the type of industry.

Our Vision and mission are to sustain long-term growth with long term clients driven by the simple art of maintaining mutual satisfaction and appreciation.

Our Tax Consultants use the latest in computerized processing and up-to-date electronic filing technology to prepare all types of returns, including personal, investment, small business, and corporate returns.

At tax Purpose, Tax Returns are prepared by trained professionals and experienced tax consultants who are committed to achieving the most optimum outcome. Our professionals provide bookkeeping services that will free you to focus on the operational side of the business. We specialise in offering a wide spectrum of self-managed superannuation services to our valued clients.

We have always earned the trust of our clients and as a result, we get the majority of our new business clients thought the strongest word of mouth. We believe in providing personal attention and our aim is always to get the best possible outcomes for the clients.

Off The Hook Bookkeeping – Business Accountants & Bookkeepers Richmond 

offthehookbookkeeping.com.au

(03) 8518 4003

Virtual Bookkeeping Service Australia

Are you an entrepreneur or business founder looking for a 100% virtual bookkeeper based in Australia? 

We specialise in businesses that are expanding and therefore need to streamline and plan ahead for the future.

We don’t just manage your Payroll, BAS and budgets. Our professional online bookkeeping services team do so much more. We help your small business grow big by improving cash flow and automating the workflow.

We offer a 100% Virtual Bookkeeping Service Australia-wide. 

Online Bookkeeping, Accounting and Mentoring Services

We provide a wide range of online bookkeeping and accounting solutions focused on YOUR goals, outcomes and ROI. Let our professional team of Degree Qualified Bookkeepers & Accountants, Registered BAS Agents with 20+ years of experience, help you sort out your business finances.

Using Xero, Receipt Bank, PandaDoc and Liveplan, we provide BAS Preparation and Lodgement, Single Touch Payroll, Client Invoicing, Accounting Systems, Business Mentoring, and Accounting Management reporting.

Virtual Accounting and Financial Management Team

As you grow, your business relies more and more on good financial management. But it’s not always plausible to hire an inhouse staff member. Even if you could afford an in-house bookkeeper, or to train your admin person to do bookkeeping, you actually need a broader set of skills. You may have an external accountant who does your tax returns, such as a CPA or Chartered Accountant (in the industry we call these ‘public practice accountants’. It’s great to have an external accountant for the sale of accountability and a ‘second set of eyes’, who can pick up mistakes at the end of the year. But you need an ‘internal accountant’ or ‘financial controller’ working inside your business because the bookkeeper can complete data entry and reconcile the bank, and a highly competent bookkeeper can also lodge your BAS, keep your payroll compliant and finalise ‘month end’ to produce financial reports. Although most bookkeepers can ‘reconcile’ the balance sheets and run reports, most bookkeepers don’t know how tointerpret the numbers’, and present them to you in a meaningful way. Which is why you need a financial controller. That’s where we step in to get you off the hook’. In a nutshell, our team of in-house financial managers, become your team. of in-house financial managers, but without you having to hire permanent staff. And with the additional benefit of that ‘birds-eye view’ of your business financial situation. We’re not caught up in your day-to-day which means we can see things you and your in-house staff won’t notice, because they’re too close to the situation.

Our approach is to come into your business, get your accounts accurate, establish or improve your processes, develop your bookkeeping and accounting manual, and lay a solid foundation for accurate and timely data. And then once everything is ticking along in a monthly routine, we then go deeper into the analysis of the finances prepare monthly management reports and meet with you regularly with insights. We provide you with financial accountability, by following up when you make plans for changes. And we continue to fill your financial management, accounting and bookkeeping gap until you actually grow big enough to need, and be able to afford, an in-house accountant and a bookkeeper. Once that happens we can train your staff in the processes, and leave you to it! But of course, make ourselves always available during and after the transition, should you ever need our assistance.

AGI Bookkeeping – Business Accountants & Bookkeepers Richmond

agibookkeeping.com.au

(03) 9088 0252

We are bookkeeping and accounts professionals and have been making sure that our clients’ accounts are perfect for over 15 years. We are Melbourne’s foremost bookkeeping experts and have helped hundreds of large and small businesses solve their all their accounts problems. Our local Melbourne bookkeepers are experts in XERO/MYOB/Quickbooks/Reckon and all other popular accounts and bookkeeping software.

We are a very well-respected, highly-trusted bookkeeping and accounts solution-provider servicing the Melbourne CBD and surrounding suburbs. AGI Bookkeeping places a great priority on building long-lasting relationship whilst providing excellent and affordable accounts and bookkeeping solutions tailored especially for your business.

Your Small Business Bookkeeping Solution in Melbourne

AGI Bookkeeping is the experts at ensuring that your accounts are balanced, accurate and comply with all current legislative requirements. We especially ensure that your records are stored in compliance with the current legislation and that they reflect an accurate position of your business’s financial activities. Accurate record-keeping is legislated by State and Federal bodies and it is essential that they are stored as mandated by the government to avoid costly penalties. Australian legislation states that all businesses, big or small, must keep up-to-date-financial records, in case they are audited to ensure that they have paid all necessary taxes and levies.

We are a family run bookkeeping business that has grown to include offices around Australia in Melbourne, Adelaide, Brisbane, Sydney and Canberra. We have been helping our clients grow since 2001. Being one of the leading Bookkeepers in Melbourne, we are offering a free consultation to every new client.

Bookkeeping Central – Business Accountants & Bookkeepers Richmond

bookkeepingcentral.com.au

1300 855 764

BOOKKEEPING

We make bookkeeping a breeze. Completely stress-free and simple so that you can focus on what you love doing. Your life is about to become far less stressful as we are now proudly providing bookkeeping services in Melbourne and Sydney.

BACK-OFFICE PRODUCTIVITY & ADDONS

Software Add-Ons like Xero give small business access to powerful tools they could never have afforded in the past and offer a boost to your productivity. It’s the perfect bookkeeping solution for any business.

TRAINING

At Bookkeeping Central we want to see every business grow, so even if you are not quite ready to use our bookkeeping services, we can still help you get started. Ask about our Xero bookkeeping training today.

BUSINESS ADVISORY

Do you need extra advice on growing your businesses? Maybe you just need the cash to make it happen. We can help with cash flow management, bank reconciliation, and data entry – Find out more here.

BAS, PAYROLL & HR

As Registered BAS Agents, Bookkeeping Central can help you navigate BAS, Payroll Tax, Superannuation, Modern Awards and HR Documentations.

MARKETING AND GROWTH

If it’s time to fast track your business growth we can help through our strategic alliance with Web and Social Marketing expert partners

We love small and medium businesses at Bookkeeping Central. We know you are the heart and soul of the community. Mum’s and Dad’s trying to make a living for their families. Entrepreneurs looking to give their idea the spark to let it grow.

We are exactly the same. Bookkeeping Central is a family-based business providing expert bookkeeping services in Melbourne and Sydney with the bold spirit of entrepreneurism that we know makes this country great.

John and Darrell Cruse built Bookkeeping Central to help small businesses access quality and affordable accounting and bookkeeping services so they could run their business more effectively and efficiently.

Cloud8 – Business Accountants & Bookkeepers Richmond

cloud8.com.au

03 9191 8580

Cloud8 is not your traditional accounting firm in Collingwood, Melbourne. It is operated by entrepreneurs and is set up to be different. Our focus is on you and your business.

We don’t charge clients a big fee for services. We are not run by partners with big firm experience from decades ago. We are here to help you meet your tax compliance in the simples, most cost-effective way. We will keep your bookkeeping costs to a minimum, allowing you to reinvest your hard-earned profit back into your business.

HOW ARE WE DIFFERENT?

Proactive Service

We don’t charge clients big fee for services. We are not run by partners with big firm experience from decades ago. We are here to help you meet your tax compliance in the simples, most cost-effective way. We will keep your bookkeeping costs to a minimum, allowing you to reinvest your hard earned profit back into your business.

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Technology Focused

We are partnered with Xero to bring you their new App Advisory services for start-up and small businesses, along with the latest cloud-based accounting ecosystem. This flexible approach is specifically tailored to start-up businesses or online businesses such as yours. Using the Xero system, we are able to streamline the entire accounting, taxation and reporting process specifically for you from engagement to tasks delivery.

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Affordable Pricing

With our competitive pricing packages, there will be no nasty surprises when you receive your accounting bill. There will be no over-priced services that leave you wondering what value you received from them. We make things clear and simple so you can focus on running your business and driving growth.

One Minute Tax – Business Accountants & Bookkeepers Richmond

oneminutetax.com.au

03 8899 7507

The Best Rated Tax Accountant Melbourne

-To manage your tax returns & small business accounting

One Minute Tax is one of the best-rated tax accountant in Melbourne helping individuals and small businesses for tax minimisation and wealth creations. Although we are only a young CPA accounting firm, however, not like your old school accountant, we leveraged our innovative and cloud-based technology and built a large trusted client base across Australia in just 3 years and we are still strong growing. Our CPA qualified tax accountant team constantly challenge ourselves to deliver more to our clients, helping to make small business accounting management easier than ever. As our name indicates, we aim to provide fast turn around, easy to understand, accountable and affordable tax return and accounting services for both individuals and businesses in Australia.

When you contact us, you are not talking to a receptionist but you are actually speaking to one of our accountant who can answer all your general questions right away relating to accounting and taxation. However, as tax accounting is a complicated matter if you are looking for detail tax planning and tax-saving strategies, we encourage you to make an appointment with one of our CPA qualified tax accountant for further discussion.

Looking for an Accountant in Melbourne or Surrounding Suburbs?

With accountants in Melbourne CBD and Point Cook, just a suburb over from Werribee and Tarneit, One Minute Tax provides cost-saving solutions to a broad range of businesses by leveraging technology like cloud-based accounting. By using cloud accounting software like Xero, MYOB or Quickbooks online, we are able to serve clients from all across Australia easily. If you are looking for an accountant near me, we can also travel to your place in Melbourne regions.

Our accountant is contactable via email or phone 12/7. Feel Free to contact one of the accountants now.

Servicing Clients and Performing Small Business Accounting Across All Industries

Our client base spans a number of industries, including medical practitioners, food and restaurants, builders, and more. There is no job too big or too small for our registered tax agent in Melbourne. We assist clients through all business phases, from start-up to selling your business and every step along the way, so if you are looking for a tax accountant in Melbourne, look no further than One Minute Tax.

One Minute Tax – Your Registered Tax Accountant in Melbourne

When you become our client, you are not talking to different accountants or junior accountant who doesn’t understand your case. You will have a registered tax accountant dedicated to your case. Whatever if it is a just simple individual tax return, or a complicated investment property tax deductions; or a business bookkeeping, a company setup, or a company end of year financial and tax return, our accountants will make sure you will get the best service.

Constantly challenging ourselves to deliver more to our clients.

Our team of accounting specialists consistently delivers fast and outstanding results combining creative ideas with our vast experience. We can help you start-up and grow your business and empowers you to stay on top of your business financials. As small-medium business accounting experts, we leverage accounting software to try and help our clients realise cost and time savings. General accounting software programs we work with every day include MYOB, Xero, Reckon, QuickBooks, Saasu, etc…

Why is it important to have an accountant? 

When asked what accountants do, responses often mention roles such as tax agents and independent auditors. The functions performed by the vast number of professional accountants who work in businesses are often forgotten and not well understood.

What do the independent director, the internal auditor and the chief financial officer of companies all have in common? The individuals in these positions could all be professional accountants working in businesses. Besides these roles, professional accountants take on a vast array of other roles in businesses of all sorts, including the public sector, not-for-profit sector, regulatory or professional bodies, and academia. Their wide-ranging work and experience find commonality in one aspect – their knowledge of accounting.

Accountants probably have a bit of an unfair reputation. They’re not always the most famous professionals, perhaps down to a misunderstanding of their role and what they can do for a business. In this guide, we aim to explain what accountants do and why you need one for your small business.

Why Is Accounting Important?

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information to make business decisions.

Your records generate three key financial statements.

  • The income statement provides you with information about the profit and loss
  • The balance sheet gives you a clear picture of your business’s financial position on a particular date.
  • The cash flow statement is a bridge between the income statement and balance sheet and reports the cash generated and spent during a specific time.

It is critical you keep your financial records clean and up to date if you want to keep your business afloat. Here are just a few of the reasons why it is vital for your business, big or small!

It Helps in Evaluating the Performance of Business

Your financial records reflect the results of operations and the financial position of your small business or corporation. In other words, they help you understand what’s going on with your business financially. Not only will clean and up to date records help you keep track of expenses, gross margin, and possible debt, but it will help you compare your current data with the previous accounting records and allocate your budget appropriately.

It Ensures Statutory Compliance

Laws and regulations vary from state to state, but proper accounting systems and processes will help you ensure statutory compliance when it comes to your business.

The accounting function will ensure that liabilities such as sales tax, VAT, income tax, and pension funds, to name a few, are appropriately addressed.

It Helps to Create Budget and Future Projections

Budgeting and future projections can make or break a business, and your financial records will play a crucial role when it comes to it.

Business trends and projections are based on historical financial data to keep your operations profitable. This financial data is most appropriate when provided by well-structured accounting processes.

It Helps in Filing Financial Statements

Businesses are required to file their financial statements with the Registrar of Companies. Listed entities are required to file them with stock exchanges, as well as for direct and indirect tax filing purposes. Accounting plays a critical role in all these scenarios.

Why Is Accounting Useful for Small Business Owners?

Poor financial management is one of the primary reasons for small business failure, especially in the business’s first year. Since small businesses have a limited budget and other resources, accounting plays a crucial role in providing information that helps businesses grow and develop.

For small business owners, accounting is crucial due to the reasons below:

  • Keep track of the cash flow. To prevent your business cash flow from running dry, you should implement efficient record-keeping and a sound financial strategy.
  • To understand the concepts of fixed costs, variable costs and how to cost your project accurately, small business owners can rely on cost accounting. This way, you don’t end up losing money on a project you thought would be a big earner. 
  • Accounting gives you a better grasp of the well-being of the business. You can do this by learning to read a balance sheet, income statement, and cash flow statement.
  • Helps you detect and avoid frauds and theft by customers, employees and suppliers
  • When you understand the business finance and dealings, you are better equipped with facing audits.
  • Bankers are more confident when dealing with business owners who handle business finances and understand financial implications.

Whether you are a solopreneur or employ staff, the key to growing your small business is to review your financial statements regularly and establish a detailed budget that will allow you to discover operational inefficiencies. Saving a little bit on several expenses can add up to big results over the long run.

Peace of Mind

The last but not least important of an accountant in business is for owners to have peace of mind. When you have an accountant who does the record-keeping and tax compliance, you don’t need to worry that somebody comes to your business to do Audit. You are somehow confident that you have records to show you are complying with accounting and government reportorial requirements.

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