When someone starts a business, it’s usually because they have a particular interest or expertise in the industry. It’s not generally because they’re excited to dive into bookkeeping for that business (even though we think that’s the fun part!). Here at Oculus, our business accountant Tweed Heads & Gold Coast team will make sure you are on top of all the legalities.
Accounting is a really important area of the business – you’re looking at paying staff and dealing with the ATO and there can be very real consequences to errors. This is why it’s such a good idea to have an accountant on board.
Their level of involvement may vary depending on your specific needs, but they can assist with:
- Forecasting, profit and loss,
- Setting up your business as a company, partnership, sole trader etc.
- Liaising with the Australian Taxation Office,
- Setting up and managing accounting software.
It’s important to find someone you can trust before you let them lose on your finances. When you’re looking for a business accountant around Tweed heads & the Gold Coast, there are some things to consider:
1. Qualifications and registration
If you’ll need your accountant to be preparing and submitting your taxes, they’ll need to be a registered tax agent. You can check if your accountant is registered on the Public Register.
2. Relevant experience
A good way to determine if an accountant will be suitable for your business is to consider their previous experience. Ideally, you’ll want someone who has worked with companies of a similar size and revenue to your own. It’s also helpful if they have experience working with clients in a similar market to yours, which means they’ll be more familiar with the idiosyncrasies of the area.
If they’ve worked with clients larger than you this may also be a good sign, as they have the ability to handle any potential growth.
3. Get recommendations
This is also a time to use your network! Recommendations are a great starting point when you’re looking for a business accountant Tweed Heads based professional.
Talk to people with businesses that are similar to yours, as well as government and business associations. People in these areas will often have experience working with different accountants in the area and can point you in the right direction for someone who’ll be a good fit.
4. Consider the work
What work you’re wanting the accountant to do will also factor into this decision. Some businesses are looking to hand everything financial over to the accountant, others handle most of it independently with occasional check-ins to ensure they’re on the right track and still others fall somewhere in between.
Regardless of what you’re looking for, you’ll need to ensure this is something your accountant offers.
4. Consider the work
If you are a small business, it’s often a good idea to do some of the bookkeeping yourself – it keeps you involved and aware of the business’s financial position, as well as keeping costs down. A good cloud based software, such as Xero, will make this process easier.
All in all, there’s a lot to consider when looking for a business accountant Tweed Heads expert. Ultimately, you’re looking for someone you think will help your business move forward – and manage the tricky bits for you.