Thursday, 16 March 2017

Outsource Your Accounting Operations

It is a fact that business owners want to handle all the work responsibilities on their own and hire fewer people who can get the work done from their team. However, many entrepreneurs overlook the role of an accountant. They think that they can do the work without the help of a bookkeeper or accountant. Many people believe that they can manage their accounts through accounting software and they don’t need an accountant. However, the tax laws of Australia is one of the most complex laws in the world. Counting on software to manage your financial affairs is not a good idea. Hence, it is always a better idea to hire a professional accountant inMelbourne.

Why You Need a Bookkeeper or Accountant?

By hiring an accountant, it becomes easier for you to focus on important aspects of the company. There is a simple theory – you cannot cook food without fire, and there is no use of the fire when your dish ingredients are missing. In the same way, you may want to increase profits, but bookkeeper and accountants are required to manage financial matters.
An accountant in Melbourne can give you strategic business advice based on the financial condition of the company and opportunities in the market. He will also prepare statements of profit and loss and manage taxes of the company.
On the other hand, the bookkeeper is responsible for day-to-day tasks such as making sure employees are submitting the right documents for the payroll. They will also make sure if employees have paid the bills or not. They are responsible for tracking all kinds of expenses or income and recording them same in books of account.
If you don’t want to have an in-house accountant, then it is a better idea to outsource your financial management to an external accounting firm in Melbourne that can manage your financial operations.
When is outsourcing a good idea?
Outsourcing is ideal when:
    You are running a small organization and doesn’t need a full-time accountant or bookkeeper.
    You are not able to find a full-time accountant with the appropriate skills at an affordable cost.
    You need the services temporarily – e.g. if the in-house accountant is on maternity leave or any other emergency.

Finding the Best Accountant in Melbourne

The first thing you do to find a good accountant is rely on a recommendation from a family or friends who might have hired an accountant in the past and had a good experience. You can also ask your auditor for recommendations. You can also find some good references by simply searching over the internet. Other than this, you can always contact Accountancy Matters which is a top-rated accounting firm in Melbourne.

Monday, 6 March 2017

Simple Tax Prep Tips for Tax Return

        Due to the “tax simplification” laws and “tax reform,” filing a return at present is more complex and stressful than forever. Plus the error rate of returns is also high. Take a look at these simpler tax return tips:

  •   Believe you will be audited each year.
  • Always file your tax return electronically.
  • Attach a schedule explaining big-ticket items.
  •  Don’t forget to sign your tax return.

        Tax season doesn’t have to be a headache. Even audits can become more proficient as a result of right planning. You can hire a tax return agent, Melbourne who will take care of all your taxes. For more details check our website.

Monday, 23 January 2017

Benefits of Outsourcing Your Accounting Operations

Accountancy Matters is a small accounting firm in Melbourne, with an especially high focus on customer service.We provide not only tax minimization strategies but also wholistic wealth creation strategies, as can be experienced by our finance / property investment arm.There are several benefits of outsourcing your Accounting operations as a Business Owner.Give a look at following:

1.Time andMoney saving
2.For proper track
3.Strong Financial decisions
4.Scalability options 

For more info contact accountancy matters....A SMALL ACCOUNTING FIRMS MELBOURNE

Thursday, 3 November 2016

Hiring Tax Agent vs. Using Free ATO Service

Tax time is one of the most frightening time for us. Every time people get confused between using the ATO’s free service and hiring an expert to take care of their return. The new my TAX platform by ATO is undoubtedly an easy option to file a tax return, but how effective is it?
Just because the return is processed by the ATO, it doesn’t guarantee the accuracy and clearance. The free service by the ATO works on a self-assessment basis. Hence, if over the following months, information submitted by you flags any issue, then you need to get prepared to receive a “PLEASE EXPLAIN” along with penalties. While the ATO’s service is free, it can become a costly option if mistakes occur.
Australian Tax Law is complex, and it changes every year. Word-of-mouth, tutorials, and online research won’t help you completely understand the complexities of tax returns. If you want to maximize your return, then it is recommended to hire a tax agent in Melbourne.

What is a Tax Agent?

A tax agent is a qualified accountant who has complete knowledge about country’s tax system. He is the expert on everything associated with the tax. A tax agent very well knows what you can and cannot claim as a deduction and what you must declare to stay legal and compliant.

Why Should I Hire the Services of a Tax Return Agent in Melbourne?

There are numerous benefits of using the services of a tax agent in Melbourne. Here are few of them:
It’s not expensive!
Many people think that hiring a tax return agent in Melbourne is expensive. However, you can enjoy following cost benefits by hiring a tax agent.
-    You can free up your valuable time
-    You can claim the cost of tax agent service on your return
-    You can maximize your tax return
So, if you’ve been avoiding tax agent’s services because it’s too expensive, then think again!

Knowledge and Experience

Tax agents are the specialists. They have spent an enormous amount of time and efforts in learning the tax laws. They keep themselves updated with tax law changes. You may think that you have got enough knowledge about taxes, but we can guarantee that you will miss some details which will decrease the amount of tax return. Hence, it is better to use the services of experienced tax specialists in Melbourne.

Avoid Trouble

Getting a high tax return gives a fantastic feeling. This feeling gets even better when you know that your taxation activities are compliant with the law. Using the services of a tax agent will ensure you receive full refund entitlement while staying legal and compliant.