WHAT WE DO

How we help your business

In addition to the Bookkeeping, BAS and Year-end Tax Returns, we also assist our clients with franchise advice on managing their business as well. This assistance runs from their pre-purchase review before they start, through to set up of their systems and processes, then right through to regular business reports and management planning.

Pre-Business trading

Buying a franchise is a big decision and can have significant financial consequences. That’s why it’s so important to have an experienced franchise accountant review the franchise before you purchase it. We have reviewed over 180 different franchise brands, which puts us in a unique position. It means we have a wealth of experience, know what to watch out for and what to avoid. This means you have an independent ‘second set of eyes’ looking at the franchise you are interested in, without any emotional attachment.

This is why we strongly recommend obtaining independent franchise advice, from an experienced franchise accountant, tailored to protect you.

We can provide you with independent franchise advice relating to your:

  1. Pre-purchase Review - This identifies the:

    • Cost to operate the business

    • The level of sales revenue needed to pay the business expenses and the income the owner needs.

  2. Cashflow Projection - This identifies the working capital requirements and shows when you will have a surplus, or when you will need additional funding.

Business Set Up

Trading through the right business structure is crucial for two main reasons. Firstly, the right structure can provide you with asset protection, to protect the assets you’ve worked so hard to create. Secondly, it can greatly impact your tax position. We can help you set up the following, so that you can focus on running the business and generating sales:

  • Company / Trust structure

  • Chart of Accounts

  • Xero / MYOB / QBO Set up and training

  • Management Reports set up, so they provide the reports that help you manage the business better.

Once your structure is in place we will make sure your accounting systems and processes are in place. This will not only facilitate the preparation of your BAS for GST and Tax purposes, but allow for meaningful business reports which will show you how your business is travelling.

Bookkeeping, payroll and bas

New business owners often have little experience with keeping the books and doing the regular bookkeeping. We take care of this for you and set up the processes, outlined below, right from the start:

  • Streamlined transaction processing – we maximise use of technology

  • Education on treatment of key expenses – e.g. Entertainment, Fringe benefits

  • Bookkeeping and preparation of your BAS for GST

  • Payroll for correct payment and record keeping for your employees

  • Income Tax Returns for you and your business.

Business reports and management

Up-to-date bookkeeping is crucial for every business and is the foundation on which to build solid financial results. We can generate the management reports you need every month so that you can keep an eye on your business performance. This will allow us together to identify areas that need improvement. These include:

  • ROAP – Report on a Page (a one page report, which captures the key information)

  • Budget vs Actual Report - to show your performance against your budget.

  • Benchmarking - comparing against others in your franchise

Financial & Business Education

Once you have the reports which will show your financial performance, you need to be sure you know what these mean.

These reports go beyond the minimum requirements to complete your tax return. They can highlight any deficiencies in your business and are the critical step in helping you achieve your goals.

That's why we have made the following resources available for franchisees to use:

  • Toolkit videos and articles on key concepts; Cash Flow Management, Profit & Loss, compliance issues

  • Payroll software implementation assistance

  • Regular financial and business workshops for those who want to learn more

  • These demonstrate your franchisor is proactive in important areas, such as business management & compliance