Accountix - Redland Bay 4165, Sunshine Coast Accountants


accountants | Redland Bay QLD 4165

111 Days Road, Redland Bay QLD 4165
Having your businesses books maintained correctly is a cornerstone for building a successful business. A common feature of businesses that fail is many of them had poor bookkeeping and record keeping practices. There are many reasons why business bookkeeping needs to be of a high standard. Some are blatantly obvious, however most don?t become evident until a problem presents itself and bites you at the worst possible moment. Motivations for keeping properly maintained books include: Tracking business performance ? day to day decisions of running a business need to be made from up to date and reliable information. Without this, business owners are making blind decisions. Bank or financial institution loans ? one of the first things that that a bank or financial institution will ask you for when applying for loans and overdraft is up to date financial statements Tracking of amounts payable and receivable ? at the click of a button, you can see how much you owe to suppliers or customers owe you. Tax planning ? errors in bookkeeping can lead to increased tax payable if accountants are not using accurate figures when doing end of year tax planning Selling business ? just about every business sale requires 3 full years financials as part of the due diligence process. Incorrect bookkeeping can lead to either: a. undervaluation of business for sale, b.overvaluation of business for sale, which sounds like a pretty good thing until the misrepresentation legal letter arrives. If you have any doubt as to the accuracy of your existing bookkeeping arrangements we can be of assistance