Business Accounting Solutions

Small Business Specialists

At Active Accountants we specialise in small business accounting and build long term relationships with our clients to help them navigate the financial minefields while building a successful enterprise.

Accounting and Taxation Services

We offer a complete range of business accounting and taxation services for our clients. 

Areas of our service covering compliance activities include: 

  •  Preparation of Financial Statements: 
    • Trading Account, Profit & Loss Statement including analysis - 
    • Balance Sheet 
  • Cash Flow Statements 
  • Budgeting and Forecasting 
  • Accounting Systems Reviews 
  • Business Activity Statements 
  • Bookkeeping services 
We emphasize the need to maintain adequate business records and have the resources to get you on the right track with your own internal record keeping system - whether computerized or manual to ensure all receipts and payments are correctly processed and allocated and the G.S.T. has been recorded correctly so that you are well equipped to: 

  • Prepare your own B.A.S. or have one of us complete it; 
  • Have good records when it comes time to have your year end tax prepared efficiently 
  • Provide you as the business owner with up to date financial records that facilitate key management reports so that you as the business owner can make informed business decisions in conjunction with us as your external accountants. 
 A number of checklists are available on our website under client resources for year end tax and accounting requirements.

Contact our office to learn more

Business Advice & Tax Planning

Making the right decision at the right time is essential in today's competitive and highly-regulated marketplace. We provide expert business advisory services that will assist you to plan and navigate successfully while protecting yours and your family's current and future financial wealth. 

Profitability, growth, cash flow, risk protection and the future planning are five common critical points most businesses encounter. 

We can provide individual tailored financial solutions to each of these areas to assist your business reach its full potential. 

Tax Planning is a crucial process to facilitate this process and should be an ongoing regular process not just for prior to June 30 each year and should be considered for something as relatively straight forward as considering leasing or purchasing an asset under finance. 

We have a number of strategies that are available for business to use as part of their regular tax planning but whilst there are common stages that each business will go through regular tax planning and business advice is dependent on individual circumstances. 

Services include

  • Business Plans in conjunction with the business owner 
  • Business Planning Business 
  • Review and Analysis 
  • Strategy Development 
  • Risk Management 
  • Business Performance Ratio Analysis 
  • Management Accounting

Contact our office for more details. 

Business Acquisitions and Sales

Before you examine the possibilities it pays to do some self assessment. It is best to know not only if your business idea is sound but if it is the right step for you - it is a good idea to ask yourself some tough questions. Be honest about your own skills, knowledge and situation. if you really feel that the risk and work required is too much (your intuition will tell you) then deciding to stop is just as good as deciding to go ahead - will you be starting from scratch or buying an existing business. 

We can assist in this process under either approach, obviously starting from scratch will usually involve a detailed Business Plan where we can provide expertise here or offer a comprehensive due diligence process in buying an existing business. 

Conversely selling your business that you have operated for many years can be an all too conquering experience, whether you sell the business in its entirety or as part of succession planning. 

We are experienced in this process and can provide you with financial analysis to provide your business with a reasonable valuation for sale purposes that identifies the three (3) typical components when you sell a business - 

(1) Goodwill 

(2) Plant & Equipment and 

(3) Trading Stock 

Business valuations can be very subjective but we have a number of methods available to at least provide you with a range for what we believe your business is worth - at the end of the day what a business will sell for is what a willing buyer is prepared to pay for it and prevailing market conditions will dictate that to a large extent. 

Whether you want to list your business with an agent for national exposure or locally we have you catered for there.

Contact our office for more details. 

Cash Flow Budgets and Forecasting

We encourage our clients to do this on a regular basis especially for those clients who have recently purchased an existing business or as part of a Business Plan for a new venture. Regular updating is required because you can be guaranteed not everything will go to plan so having a rolling forward budget or forecast with cash flow the key. 

Most businesses raise their funding from a variety of sources, typically - a mix of the owner`s personal funds, loans from family and friends and of course the bank. 

It is important to ensure the money you have to start your business is the right money, in other words you do not want to borrow excessively when you have plenty of your own money or sell to individuals who invest their own money into new businesses who will then want a percentage of ownership - commonly known as venture capitalists. 

The simplistic explanation of cash flow is the money flowing in and out of your business and one of the first things to understand is that profits generally do not automatically equal cash, understanding the operating cycle of your business is critical - trading terms with sales and purchases are often different so whilst you may be trading profitably on paper your cash flow says otherwise.

Contact our office to learn more

Entity Structuring/Restructuring and Asset Protection

Deciding on the appropriate business structure is an important decision which needs to be evaluated with great diligence. 

The main factors to consider: 

  • cost 
  • ease of use 
  • flexibility 
  • tax considerations 
  • protection of personal assets 
There are a number of trading structures available and it may be a case of starting out as a Sole Trader/Partnership with an A.B.N. and converting to a Trading Company or Corporate Discretionary Trust at some time in the future, usually due to the increased turnover of the business, profitability and growth whereby the level of tax you are paying becomes too high. 

Different structures available include: 

  • Sole Trader 
  • Partnership 
  • Trading Company 
  • Discretionary Trust - Trustee is either a Company or individual(s) 
  • Unit Trust 
Typically structures are geared towards the operations, for example Freehold Land and Buildings may be purchased in a Unit Trust or a Self Managed Superannuation Fund with the business operated via a Trading Company or another entity - the choice is very specific and protection of personal assets is of paramount importance especially where there is significant exposure to trade creditors whereby not only are the business assets at risk but also your personal assets. 

We are experienced in this area and will have your business operating out of the most appropriate business structure whilst having personal assets protected from business creditors or a Trustee in Bankruptcy.

Contact Us

Scott Lawrence CPA

(07) 4222 1650

  • Registered Tax Agent
  • Accounting & Taxation Services
  • Business Advice & Tax Planning
  • Business Acquisitions & Sales
  • Cashflow Budgets & Forcasting
  • Entity Restructuring & Asset Protection
  • Self Managed Superannuation Funds
  • BAS & GST
  • Bookkeeping Services
  • Individual Tax Returns