Talking Cents

Professional Business Accounting & Your Small Business

Are you considering hiring a small business accountant in Sydney? A business accountant provides peace of mind to business owners. As a result, a small business owner can then devote their time and attention to areas where it is most beneficial.

Why you need help from a business accountant

As a small business owner, you may feel overwhelmed when you hiring your first employee and dealing with payroll, taxes, paid leave, etc. In working with a small business accounting firm, you will received the benefits of their professional processes, systems, and software to improve the efficiency and accuracy of your accounting processes.

Small businesses typically have a small number of employees. Staff members will experience less stress and be more efficient if they are not pressured to handle accounting duties that are outside their expertise. With the reassurance of expertise and advice should they need it, staff will appreciate the opportunity to delegate accounting tasks to an outsourced accounting service.

What can a business accountant help you with?

While there are several services offered by business accountants, here are two of the most beneficial services for small business owners.

Budgets:
Budgets are forecasts (based on historical data or on assumptions about changing circumstances) for the purposes of benchmarking actual performance.

With a budget, business owners are able to set goals, plan forward, and make appropriate decisions about their business, while comparing actual performance with the expectations and assumptions used in setting the budget.

Cashflow:
By supporting expectations of future profits and cashflow, budgets are helpful to business owners for allocating funds for specific purposes and for obtaining financing. In order to be useful, cashflow forecasts need to be based on a specific period of time, usually not longer than a year. In strategic planning, longer-term cashflow forecasts are primarily used to plan future capital investments.

Its primary goal is to provide the business' position at any point in time over the forecast period, so that decisions can be made during that period by identifying expected shortages of cash as well as prioritising payments. Hence, a cashflow forecast predicts whether a business will be viable to continue functioning with profit throughout a given period.

With over 20 years of experience working with small businesses, we are Australia's original accounting firm. The services we offer include accounting basics and a wide range of accounting compliance.

If you are searching for a Business Accountant in Sydney, M.A.S Partners can help. The highly skilled accountants at M.A.S Partners provide accounting solutions to businesses of all sizes and in all industries. With our accounting services, you can focus on what you love about running your business. Please contact us to get started: https://www.masaccountants.com.au/contact