Although this is pretty standard for a tax agent to complete, Fresh Numbers looks for ways to turn it into another tool in pursuing greater business performance.
In completing your bookkeeping and accounts to meet all compliance needs for the business, it’s important that the accounts can also help you plan. Under our various programs we get the lodgements in on time so that all your compliance requirements are up to date and you are left with as little pressure as possible. Occasionally, when our clients feel that a BAS payment may be difficult, we will call the ATO on our client’s behalf and suggest strategies to help complete the payments in a manner that suits all parties.
There is immense pressure on businesses to survive and be profitable. In trying to do so, many have forgotten or ignored their BAS and tax returns.
Often this is simply a case of needing to complete and lodge returns, combined with a strategy to deal with and negotiate any outstanding debt. At Fresh Numbers, our clean-up product is designed to get your accounts in order and set in place an accounting program to carry your business forward.
The key to Tax planning is timing. After the financial year, we suggest that you plan the purchase of assets, consider investments, as well as doing the basics.
It’s also important to look at the business’ position during the year, and have a full review again in about April or May so that all options have been explored before June 30th.
Our programs are designed to give you the best opportunity to review and consider what can be done to legally minimise your tax expenditure for any period. Clients who want to specifically discuss these issues can do so at any time when they have subscribed to any of our programs and products. In special circumstances, we may recommend seeing a tax lawyer or a financial planner, but at all times our clients can make decisions based on having all the information at hand.
In the past, many businesses have taken advice that has left them poorly structured and lacking control of their operations and finances.
At Fresh Numbers, we look at your accounts and create a chart of accounts that allows you to get detailed information on your product, clients and staff performance. You know your business, so you tell us what you need to see. This process is not a one-off excercise, but rather an evolving process, especially when done via our 52 week program.
If a client in one of the ongoing programs is audited (for example the 52 week program program or My Accountant next door program) then the work required to conduct the audit will be automatically completed by our accountants.
If you have just been notified by the Australian Taxation Office that they want to audit you, then we will clean up your accounts and work with you, under a fixed quote, in a manner that allows you to get back in business without too much disruption.
Starting a business for the first time is the most “exciting and most frightening” thing you can do – so it’s important that you first understand the makeup of your accounts, and then next you create a habit of review.
Fresh Numbers will advise you on the right business type for you, set up your accounts and teach you how they work. For more information on this product click here.
We are geared to complete a business’ payroll independently or as part of one of the other programs that we offer.
As payroll is the biggest cost to most Australian businesses, it’s important that the payroll is processed and managed carefully. The costing for products and services may also be included in the way that the costs of the payroll are completed.
For more information on this product click here.
Whatever size your business is, we will use all of our skills and expertise to deliver our promise.
Be it a new business, a single operator business or a large organisation with a large payroll and complex management system, we have the experience, culture, and drive to deal with all kinds of situations.
Simply put, compliance planning is the act of managing the money that legislation demands will be due to various governing bodies, such as the Australian Taxation Office, worker compensation, insurance companies, state tax authorities and others.
As cash moves through your company, it’s important to manage these funds so that all expenses are paid in a timely manner. This is often easier said than done. Businesses that need to change their market and businesses that are growing will often have this cash locked away, and also need tight financial planning in place in order to pay all compliance costs.
At Fresh Numbers we are well aware of the issues that face a business and will help develop the routines that manage compliance costs.