We're often asked "why does my business need more than a bookkeeper and tax accountant?"
A bookkeeper’s main tasks are recording and reconciling your business transactions. However, a bookkeeper is not a qualified management accountant. Neither is a tax accountant. Bookkeepers and ATO agents can log and organise the figures and prepare returns, but rarely influence business decisions. They don't present a complete set of accrual based accounts with budget results and forecasts each month, and their qualifications and experience (and usefulness to your business) are limited by the narrow scope of compliance work they do.
Not only can Our Team provide you with expert bookkeeping, they can also handle your accounting and tax tasks – all while utilising the latest technology and innovations to speed up your processes. As well as manage cash flow, assist in strategy decision making and risk management and prepare more detailed and complete reports that can give you the ability to make informed financial decisions about your business.
Our Finance Team and Advisors are Qualified Accountants with tertiary degrees in areas of Business, Accounting, Tax Law and International Taxation and over 20 years experience with small businesses. They offer a far wider skillset than that of a bookkeeper or tax agent and provide CFO-functions with the capability to evolve along with your business, offering you:
|Complete financial statements||Strategic advice & planning||Performance monitoring & analysis|
|Monthly performance reviews||Budgets and forecast preparation||Pricing & profitability analysis|
|Control costs||Taxation advice||ATO & ASIC Compliance|
|Finance process reviews||Cloud accounting & app advice||Training & coaching |
What are the advantages of combining all these services in one annual package?
Your Finance Team and Advisor at Electra Frost Advisory partner with your business to see your Strategic Plan executed and long-term goals achieved. We are not only working with you every fortnight to keep our business on track, you have the advantage of only having to deal with 1 organisation in regards to your finances which can save your time and also lead to reduced accounting costs at the end of the year.
If all you need is someone to manage your books and keep the ATO off your back, a skilled bookkeeper and tax agent will most likely get the job done for you.
But if you want to scale your business without the overwhelm so you can live your best life, it's time to weigh up whether compliance services alone are providing enough bang for your buck.. If you want your business to improve its processes, to gain a competitive advantage and thrive in your market, we can help you to meet your goals.
Medium to large businesses typically have an internal Finance Team or CFO on staff. As a small business, you too get the advantage of having highly experienced, fully qualified finance professionals working for you without the commitment and cost of a full-time CFO, giving you an edge and allowing you to run your business knowing your finances are in good hands.