Small business accounting services

Small business accounting services

The burden the Australian Taxation system places on Australian small business is well documented. Of particular concern are the deadlines and penalties associated with compliance and lodgment. Even if you have a basic understanding of your compliance requirements, keeping up with changes to rules is almost impossible for small business. At Bizally, taxation compliance requirements for small business is one of our key services, which is why our team constantly undertake further professional development, with the aim of improving the service we provide to clients.

The key to this service is accepted tax minimisation strategies, which are personalised to the goals and circumstances of each of our clients. This often includes a one-on-one discussion with one of our small business tax specialists and can include a discussion on how to streamline your taxation compliance requirements.

What makes Bizally unique?

The goal of most accounting firms is to work with larger clients, with larger billings. Bizally is fundamentally different. We focus on start-up and small business. Small businesses are the lifeblood of the Australian business sector and employ more than half of all working Australians. At Bizally, we believe that small business is under represented and under appreciated. Our mission is to provide small business with the recognition and support they deserve.

Why are small business accounting requirements different?

Small business accounting requirements are fundamentally different to larger businesses. The reasons for this are knowledge and resources.

Firstly, large business has the resources to engage in-house teams of professionals who are often highly experienced and knowledgeable about ‘best practice’ approaches to accounting and compliance requirements. On top of that these organisations have refined their accounting processes over a long period of time.

Do you fully understand your tax and compliance requirements?

In comparison, as far as the ATO is concerned small business are expected to hit the ground running. Many small business owners are experts in their chosen fields but have had little or no exposure to the realities of the taxation and compliance requirements of small business. This can lead to mistakes that can cause major setbacks or even business failure. Worse still, it can create situations where small business owners can become bankrupt.

Do you have the resources to keep on top of your compliance requirements?

Large businesses have whole departments dedicated to their compliance requirements. They have in-house accounting to meet their taxation requirements. They have HR departments to handle their people compliance requirements. They have lawyers to meet their legal requirements. As a small business, you have you and possibly family members.

This is not enough. Bizally provides a service that ensures you understand your taxation and compliance obligations from day one. They also educate you on the most efficient way to manage your bookkeeping, tax lodgment, and other business compliance obligations. The small amount you invest for these services now can save a great deal in the medium and long term.

This service is designed to help you streamline the process, allowing you to focus your energies more on running and growing your business.

The advice and support provided by Bizally to small business

There are many accounting and compliance burdens placed on Australian small business. What many small businesses don’t understand is that the right advice and support can mitigate your taxation and compliance burden while improving financial returns.

Bizally’s service can help you with the preparation of Income Tax Returns, GST, BAS and IAS lodgments. We can also help you with tax minimisation strategies for fringe benefits tax (FBT), capital gains tax (CGT) and payroll tax. Additionally, we can provide you with advice on superannuation (including SMSF) and salary packaging. Bizally can even support you by helping you prepare for tax audits and obtain ATO Rulings. Bizally can even provide you with advice on Work Cover and Business Insurance Advice, as well as business restructuring.

Other Bizally differences

Bizally has a simple mission: we aim to help our small business clients grow their business and profit, as well as build their personal wealth. Our strength is in the relationships and understanding we build with our clients. This understanding allows us to work proactively with our clients, providing them with the right advice and choices before they make decisions.

Who will benefit from Bizally’s small business services?

Small business owners rarely have the goal of creating a ‘job’ for themselves. They want to grow their businesses. They want to become financially independent. They want their business to support their lifestyles, not determine them. They want to follow their passions. These are the very people who benefit from the services provided by Bizally.

Whether you are starting a new business, considering buying an existing business or wanting to grow your existing business, Bizally is the right choice for you. You work hard, and you should benefit from your endeavours. Bizally can show you how to make your business more efficient and profitable and how to build your personal wealth.

Contact us today for more information.

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