Business Services

Establishing your Business

  • Choosing and creating the right structure for your business;
  • Establishing partnerships, trusts and private companies;
  • Registering your ABN and Business Name;
  • Your GST, PAYG Withholding, FBT and other ATO registrations
  • Advice about your obligations as an employer.
  • Recommending accounting software and setting up your accounts;

Creative Business Roadmap

Imagine if your accounting could help you focus on the real work and grow your business

Make accounting a minor detail

 

It’s amazing how much time can be lost to admin.

Even if it doesn’t take up your time, the state of finances can weigh heavily if you don’t trust that they’re in good shape.

To top it all off, most of the accounting professionals who are supposed to be helping rarely understand the nature of the creative industries.

Receipts pile up.

That one staff member somehow loses a whole day on a spreadsheet.

There are definitely reports. They might even be automatically generated. But no one knows how to read them.

There’s a sneaking suspicion that you could be getting more back on your tax return.

And just when it’s getting all too much

You decide to sit down with your accountant and you leave more confused than when you booked the catch up.

I’m on a mission to make accounting a minor detail for creative businesses.

Tax Law Changes Every Year

“Australia has the most complex taxation system of five developed economies, according to a survey of tax professionals.”

Sydney Morning Herald

Would you expect a generalist accountant to know all of the bits that can help a business in the creative industries?

Creative Business Roadmap 1I’v

I’ve spent decades honing my skills to support creative people.

I’m a Chartered Tax Adviser and FIPA Qualified Accountant with 20 years’ experience for the artistic, creative and technology industries.

I’ve assisted creative professionals with tax planning, business structuring, concessions, digital commerce, GST, capital gains tax and ATO representation. I’m also qualified in International Tax, and often help expat Australians over video.

I provide oversight, review and quality management of all our services to ensure standards of excellence are maintained. I’ve developed a network of trusted advisers whose expertise I can tap for clients’ legal and financial requirements, auditing, overseas tax returns and business coaching.

Accounting can be a well-oiled machine like your car. Expense claims can be a simple, pain-free process like brushing your teeth. You just need an accountant in your corner who understands you and your business.

Accounting can be a well-oiled machine like your car. Expense claims can be a simple, pain-free process like brushing your teeth. You just need an accountant in your corner who understands you and your business.

What would it mean if you had…

A realistic view of the current state of your accounts

I’ll dig into your accounts and give you the real truth of it. If they’re healthy, I’ll congratulate you and show you some great points of leverage. If something is on fire, I will give you the best firefighting tools you can get. And if there’s something hiding in plain sight, I’ll point it out to you and help you make the best next step to take care of it.

A system you can trust

I’ll spend time deeply understanding your business’ needs so that I can recommend the software, accounts set up, and recurring activities that will keep everything working smoothly. BAS and tax returns will be a simple checklist, day-to-day accounting will be as simple as possible, and you can focus on the real work.

Reports that help you see what’s important

We’ll discuss what’s happening within the business and what may happen for the business. You’ll receive custom recommendations for reports that are actually useful in a readable format so that you’re armed to make game-changing strategic calls.

In my experience, this can all happen without clipboards, cookie cutters or crying.

The Creative Business Roadmap

A plan tailor-made for your business by an expert in creative industries accounting

What’s included

A health check

Get a (sometimes brutally) realistic view of the current state of your accounts so that you can put out any fires and get on with growing your business

Recommended activities

Keep your accounting running smoothly by doing a handful of core activities. These will be split by frequency (annual, quarterly, monthly, weekly, daily and as needed).

Recommended software

Save human hours and minimise error by automating what you can. We’ll recommend the software combination that can leverage your business in the best way possible

Recommended accounts

Grouping your transactions differently can give you greater visibility of key areas of the business. If there are changes that can help you make better business decisions, I’ll be pointing them out.

Recommended reports

The reports you need when you need them so that you have the information at hand to make game-changing decisions

Recommended documentation

Give your processes a failsafe by creating documentation. This means that your whole system shouldn’t go down if someone is unwell or goes on holidays, there is a clear understanding of the correct way to do something, steps can be retraced, and the whole process can be updated simply by changing the docs.

You’ll have a clear plan for making your accounting work for you.

How it works

Step 1

A deep dive into your accounts

Once we’re all set up, I’ll get the details for access to your accounts. I’ll take a look at the current state of things.

Step 2

The Financial Mapping Workshop

We’ll catch up in person to discuss all the things the accounts can’t tell me.

Step 3

Your solid plan

Within a week, you’ll have your Creative Business Roadmap in your inbox, which you can start on immediately

Step 4

Watch your accounting become a minor detail

Unlike other accountants that assume all businesses fit into one simple formula, we’ll be creating your Creative Business Roadmap using our decades-long expertise supporting highly unique businesses in the creative industries.

 

Creative Business Roadmap 2

Chris Gillies, Jam Tin Copy

“Electra and I go back to 2013, when I made the decision to jump off the corporate ladder and start up a copywriting agency. Electra explained business structures and set-up my company with ASIC.  Since those early days, Electra and her team have become an important part of my business. Whether it is providing advice on taxation, superannuation, GST and expenses to completing my annual company and personal tax returns. I’m now less terrible with numbers!”

Managing Your Business

  • Business Health Check: Monitoring changes in business performance, reviewing changes in performance and against industry benchmarks.
  • Business budgets for management, planning and expansion.
  • Money and wealth analysis:
    • Equity (how much is your business worth),
    • Cashflow (what is going in and out of the bank),
    • Profit (whether the business is making money on paper) and
    • Surplus (how much money is available for drawings or reinvestment).
  • Preparation of financial statements and management reports;
  • Expenses and Assets – are you getting a good return from your investment?
  • Cashflow Management: receivables, payables, terms of trade.

Business Support

  • Advice on ATO-compliant and useful record keeping systems for small businesses and sole traders.
  • Cloud accounting for small business in Xero or MYOB: set-up, training and ongoing accounts maintenance for monthly reports.
  • Identifying the needs of your business, choosing an appropriate accounting system and subscription level, and suggesting apps which can save you time.
  • Referral to a trusted business management services provider to provide ongoing support.

Tax and Compliance

  • Tax Returns and Financial Statements for Companies, Partnerships and Trusts.
  • Annual ASIC filing.
  • Business Activity Statements (BAS).
  • Payroll Reporting and PAYG Statements.
  • Employee entitlements and termination payments.
  • Superannuation Guarantee Charge Statements.
  • Annual Fringe Benefits Tax Returns.
  • Workers Compensation renewal applications.
  • Annual Land Tax paperwork

Referral

Referral to a network of trusted specialists for:

  • Business coaching
  • Business management
  • Bookkeeping
  • Legal advice
  • Mortgage broking
  • Financial planning
  • Insurance
  • SMSF’s
  • Quantity surveyors for property depreciation
  • Agents for overseas tax lodgments.

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