QUESTIONS
Why Doesn’t my accountant offer me Business advisory services?
Most accountants today are very reactive, rather than being proactive. Running a business is like driving a car you don’t spend all of your time looking backwards, you spend the majority of your time looking forward.
What is business advisory?
Business advisory services can come in a number of different forms. Whether it is tax advice, financial advice, business structuring or strategic management advice. Talking to an accountant can help you build and protect you and your businesses wealth
When is my Business Activity Statement Due?
Quarter 1 - 28th October
Quarter 2 - 28th February
Quarter 3 - 28th April
Quarter 4 - 28th July
“How Long do I have to keep my records for?
Documentary evidence should be kept for five years from the date of lodgement of the tax return in which the claims are made. If you are depreciating an asset the receipt should be kept until the item is fully depreciated (even if over 5 years). You can now scan your documents straight into Xero and shred the paper work. If you want to know more do not hesitate to contact us
How can I improve the financial health of my company?
At its heart, this question is all about cash flow. With the help of your accountant, you should be proactively monitoring your cash flow, finding ways to increase your cash flow and reduce costs. Understanding your cash burn is a foundational financial exercise—without a deep understanding of your cash burn, you’re setting yourself up for trouble
How do we Charge?
At Leddys and Associates we produce packages which are billed monthly on a direct debit to help your cashflow. There is nothing worse than having to pay the ATO and your Accountant at the same time.