Email Us At
info@twaccountants.com.au
Assistance with buying & Starting a Business
Business is all about opportunity. Once you have identified an opportunity, be it a new business idea, a product or service not currently offered in the market or simply the chance to purchase an existing business, we are here to support you.
We Focus on the following important considerations:
Financial literacy
About a quarter of business owners don’t believe they have adequate levels of financial literacy to run their business. Don’t be in that group! In a single meeting, we can teach you the terminology and meanings behind most things that you will encounter when running a business.
Creating a business plan and strategy
Having up-to-date knowledge, accurate advice and careful planning tailored to your business venture will set you up for success in future.
Budget preparation
Preparing a budget may seem simple at first glance but there are many hidden costs you may not be aware of. We have the experience to ensure all costs are accounted for, so your budgets are accurate and there are no hidden surprises.
Cashflow forecasting
In most small to medium-sized businesses, cashflow determines success and failure. Stay informed about your business’s wages, creditors and tax liabilities with our professional cashflow consultancy services.
Business accounting software
Our accounting team can also assist with one-off services, such as setting up accounting programs that streamline operations for your business. Our accountants are proficient in all accounting software including XERO, MYOB and Reckon.
Structuring
Protect yourself with good structuring. Choosing the right structure for your business can save you time, money, hassle and a lot of trouble further down the line. Teefy Wolfe Accountants provide in-depth analysis of your business to determine which structure best suits your needs. We will walk you through the benefits of structuring your business as a company, trust, partnership or sole trader.
Registrations
Register correctly upfront to ensure there are no penalties in future. ATO and ASIC registration and lodgement requirements are different and might not apply to you, so it’s best to consult with licensed accountants. We will help you with ABN, TFN, GST, fuel tax credit, PAYG withholding and company registrations, as well as single-touch reporting obligations.
Due Diligence
Buying a business is not different to buying any investment such as property. Your focus is on risk management. When you are looking to buy a property, you walk through the property and look at the condition of it. A business is no different, we want to look at the condition of it. We have looked at so many different businesses that we know where to look and what to look for.
Finance Structuring
Consideration of where debt should exist and who should own the debt is important. This will affect who can claim tax deductions for interest payments. It also determines where risk is located in your life. Contact us before completing any finance applications so we can confirm you are correctly structuring your debt.
Registrations
Register correctly upfront to ensure there are no penalties in future. ATO and ASIC registration and lodgement requirements are different and might not apply to you, so it’s best to consult with licensed accountants. We will help you with ABN, TFN, GST, fuel tax credit, PAYG withholding and company registrations, as well as single-touch reporting obligations.
Get the Right Advice
Register correctly upfront to ensure there are no penalties in future. ATO and ASIC registration and lodgement requirements are different and might not apply to you, so it’s best to consult with licensed accountants. We will help you with ABN, TFN, GST, fuel tax credit, PAYG withholding and company registrations, as well as single-touch reporting obligations.
Due Diligence
Buying a business is not different to buying any investment such as property. Your focus is on risk management. When you are looking to buy a property, you walk through the property and look at the condition of it. A business is no different, we want to look at the condition of it. We have looked at so many different businesses that we know where to look and what to look for.
Our Business Accounting Industry Expertise
At Teefy Wolfe Accountants, we understand that every industry has unique accounting needs. With over 38 years providing business accounting services, we’ve built relationships with clients across a wide range of industries, enhancing our skills in these sectors. Our industry knowledge includes, but is not limited to:
- Start-ups and Small Businesses
- E-commerce and Online Services
- Manufacturing and Industrial Production
- Retail and Wholesale Trade
- Technology and Software Development
- Real Estate and Property Management
- Hospitality and Tourism
- Health and Medical Services
- Professional Services (Legal, Consulting, etc.)
- Non-profit Organisations and Charities
Our expertise extends to all types of business entities, including:
- Limited Companies
- Partnerships
- Sole Traders
- Trusts
- Non-profit Organisations
What Are The Key Financial Statements For A Business?
The key financial statements for a business typically include the balance sheet, income statement and cash flow statement. These documents provide a comprehensive overview of a business’s financial health and performance. It’s crucial to prepare and review these statements regularly to inform decision-making and ensure compliance with regulatory requirements.
What Services Can A Business Accountant Provide?
A business accountant can provide a wide range of services, including bookkeeping, financial reporting, budgeting and forecasting, tax planning and compliance, payroll management, business advisory services and more. These services are designed to help businesses manage their finances effectively, comply with regulatory requirements and make informed decisions to drive growth and profitability.
Book Your Business Accounting Consultation
If you need help with any aspect of business accounting, our team of qualified accountants is here to assist you. Contact us to book your consultation.
Business Accounting & Specialist Advice
Teefy Wolfe Accountants also support businesses through significant lifecycle stages, from initial setup and structuring to expansion and if necessary, winding up. We offer specialist advice tailored to your business’s unique needs and circumstances. Our expertise extends to:
- Start-ups and Small Businesses
- Family Businesses
- Franchises
- E-commerce Businesses
- Non-profit Organisations and Charities
Our accountants are proficient in all major accounting software, including XERO, MYOB and Reckon.
Business Accounting Specialists For Start-ups And Small Businesses
Teefy Wolfe Accountants specialise in supporting start-ups and small businesses. We understand the unique challenges and opportunities these businesses face and we offer tailored accounting solutions to help them succeed. From setting up accounting systems to managing cash flow, to strategic planning, we’re here to support your business at every stage of its journey.
Teefy Wolfe Accountants on the Gold Coast provides simplified, cost-effective accountancy solutions tailored to suit your business’ needs, so that you can focus on running your business.
