Talking Cents

Accounting Designed for you with your Business Accountant in Zetland

Small businesses require a wide range of services, and not all of them need the same kind of assistance. Many small businesses will want to give the more time-sensitive and intricate tasks to an Accountant, while keeping some of that work in-house, so that they can focus on what they do best. In order to ensure that you are supported in the most effective way by your Accountant, it's important to engage an Accountant who is flexible in the services they provide. Many small business owners are going to want to establish their business on a small scale, so as to ease into the process of having a third party manage their accounting.

The level of service you require will depend on how you recognise your business. For example are you a sole trader? Or a small business? Or a partnership? Below you find the definition of each so you can categorise yourself accordingly.

Small Business: According to the Australian Bureau of Statistics (ABS), a small business employs fewer than 20 people. Non-employing small businesses include sole proprietorships and partnerships without employees.

Sole Trader: An individual who runs their own business is a sole trader. A sole trader is the simplest and the cheapest type of business structure. When you own your business as a sole trader, you are the only owner and you are responsible for managing and controlling the business. This means you are legally responsible for all aspects of your business.

Partnership: According to Australian law, a partnership is defined as a relationship between individuals who engage in business together for profit. Partnerships are formed when two or more people decide to work together without incorporating.

Whichever category you fall into, it is important to engage an accounting professional who has experience working within this sector. This will ensure they understand (with great accuracy) the intricacies of your business and how they can best support you. In business it is important to be able to engage a third party for flexible and customised solutions that adequately meet your needs. A small business accountant can properly service your business whether you are a small business, partnership or sole trader.

The key is to initiate the conversation with a qualified Accountant who comes highly recommended to you. When you engage an Accountant and their services you will feel supported by an external party who will fill a role as if they work within your business.

Our small business accounting services in Zetland are flexible, customised, and accurate. Our accounting firm has been providing complete accounting services to small businesses for decades, and we are committed to ensuring that our clients receive the best service possible.

Our clients benefit from tried and tested accounting tools that streamline their business processes. Contact us today: https://www.masaccountants.com.au/contact We look forward to working with you and streamlining your business processes.