Commercial Accountants in Newcastle
Ensuring you have all your financial information at your fingertips isn’t just for tax time – when it comes to forward planning and analysis of performance, the information contained in your accounts is critical to informed decision making.
We are a commercial accounting firm in Newcastle that aim to provide your company with the intelligence needed to inform the future of your company.
As winners of the 2021 Accounting Support Staff of the Year award (Accountants Daily Australian Accounting Awards) and 2020 Accounting Small Business Champions award you can depend on us to provide the helpful, accessible and high-quality accounting service your business deserves.
The Garis Group is an award-winning accountancy firm that has particular expertise in helping small businesses with their accounting requirements. With more than twenty eight years of successful operation behind us, we are proud to serve our local community here in Newcastle.
Accounting For Small Business Owners
Running a small business in Newcastle demands passion and a sharp eye on the books. Effective handling of your financial records is important and this is potentially where a specialised small business accountant in Newcastle might prove beneficial. At The Garis Group, we believe that the foundation of your business likely hinges on strong financial health. Our dedicated team of accountants aims to address your business’s financial requirements with careful precision and foresight, possibly freeing you up to concentrate on what you might do best—growing your business.
How Commercial Accounting Can Improve Cashflow & Boost Profits
In today’s dynamic business landscape, maintaining a healthy cash flow and maximising profits seem essential for thriving and perhaps even for mere survival. In such a context, commercial accounting might play a key role. Through strategic financial management and reporting, businesses could make more informed decisions that enhance operational efficiency and profitability. At The Garis Group, our team provides valuable insights that could help businesses in Newcastle better understand their financial standing in real-time. This, in turn, might enable more proactive management of resources and facilitate financial planning.
Primary Duty Of A Commercial Accountant
The primary duty of a commercial accountant may often be perceived as more than overseeing financial transactions and maintaining records. These professionals could play a crucial role in shaping the financial strategy of a business. At The Garis Group, our business accountant in Newcastle might be able to help your business grow and stay financially stable. Here’s how:
- Financial Analysis and Reporting: They might regularly examine financial data, potentially identifying trends and opportunities for improvement that could lead to more informed decision-making.
- Regulatory Compliance: Ensuring adherence to financial laws and regulations is important. Our accountants can help navigate these complex areas to keep your business on the right side of the law.
- Strategic Financial Planning: By potentially forecasting future financial scenarios, they could help craft strategies that align with short-term and long-term business goals.
- Risk Management: Identifying and addressing financial risks might be key to safeguarding your business’s assets and securing its future, a task our team might manage effectively.
Business Accounting Software
In the fast-paced business world, embracing advanced tools and technologies can be highly beneficial. For those considering a shift in their financial management strategies, exploring the potential of robust business accounting software like Xero might be wise. At The Garis Group, we suggest that integrating Xero, a leading cloud-based accounting solution, could significantly transform how you handle your finances. Here’s how this software might enhance your business operations:
- Streamlined Processes: Xero has the potential to simplify daily accounting tasks through automation, which could reduce errors and free up valuable time for other critical business activities.
- Real-Time Financial Insights: Offering up-to-date financial data, Xero could enable swift, informed decision-making that might positively impact your business’s performance.
- Enhanced Collaboration: As a cloud-based platform, Xero allows secure access to financial data from any location, possibly facilitating better teamwork and more informed discussions among stakeholders.
- Scalability: Xero can adapt to accommodate growing needs as your business expands, possibly supporting a broader range of financial activities without significant system changes.
Helping Your Business
Our flexible service enables businesses to access us at every stage of their evolution. If you’re a new business, we can make sure you’ve got the correct paperwork and processes in place to meet your legal obligations with respect to reporting and tax returns.
For an established business, we can not only prepare all the information that the ATO requires but also advise on superannuation, asset acquisition and disposal, tax planning and any sector-specific tax issues that relate to your business.
How can we help you?
Being a sole trader means that an individual, rather than a company, is responsible for collating and submitting tax information correctly. We understand that for many sole traders this can be a challenge, so it’s best to contact the professionals. We can help!
Not only can we assist with every aspect of record-keeping and financial reporting, but we also offer low-cost accountancy support packages that are ideal for sole traders and business start-ups.
If and when you feel the time is right to change status from sole trader to a company or trust set-up, we can advise and assist you throughout the transition process.
Frequently Asked Questions
Why should I hire an accountant for my small business?
An accountant is an extra helping hand for your business. What’s not commonly known is that an accountant can be brought in at any stage of your business – from start up to the growth stage.
Do accountants give business advice?
An experienced accountant is qualified to recommend certain solutions that fits your business. Advise such as:
- Cash flow management
- Reduction in expenditure
- Assisting with business plans and reporting
- Applying for business loans
- Tax entitlements and requirements
How much do small business accountants cost?
Accountants can vary in price and their price structure such as by an hourly rate, retainer or a fixed fee package. At The Garis Group, we believe that our fixed fee accounting packages provide a transparent and assured approach to small businesses.
