Accounting    Business Accounting

Business Accounting

Business accounting refers to the process of recording, analyzing, and interpreting financial transactions and information related to a business or organization. It involves tracking and summarising financial activities, such as sales, expenses, assets, liabilities, and equity, to provide an accurate and comprehensive picture of the financial health and performance of the business.

Accurate financial information and reports enable business owners to:

See their ‘real’ business performance and have the data available to make informed decisions to improve profitability.

Manage cash flow so the business can cover its debts when they are due and to also be able to finance growth.

Maximise the sale price when selling the business.

Obtain or raise finance more readily from banks and lending institutions.

Comply with Australian Tax Office obligations and other regulatory obligations.

Success Tax Professionals practices tailor their business accounting services to meet the individual needs of each business owner.

Success Tax Professionals practices provide business owners with 3 options for their business accounting:

Business owners perform the majority of the work and produce ‘draft’ financials which are reviewed and revised by the accountant in the practice.

Business owners perform some of the accounting work, with the accountant in the practice doing the rest.

Business owners offload all their accounting work to the accounting practice so they can focus 100% of their time on managing their business.