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How can Munro Accountants help with your business?
Our aim is to provide you with advice when your business needs it - not just when you ask for it. We will help you manage every aspect of your business, and because we establish a one-on-one relationship with each of our clients, our advice will be tailored for your business. We focus on open communication with you to find solutions and assist you in all areas of growth strategies, taxation and management control.
Business services we offer to you
| Acquisitions and Mergers | Management Consulting |
| Audit | Payroll Services |
| Benchmarking | Rental Properties |
| Bookkeeping | Risk Management |
| Budgeting | Selling a Business |
| Business Startup and Structuring | Social media for Business |
| Cashflow Forecasting | Strategic Planning |
| Company Secretary | Succession Planning |
| GST | Superannuation/SMSF See My Super Advisor |
| I.T. Solutions | Taxation |
| Insolvency | Trusts |
| International Services | Valuations |
Acquisitions and Mergers
There are many scenarios in which you might wish to attain a business enterprise. Whatever the situation, Munro Accountants are able to take the stress out and maximise the opportunity for you. We ask the right questions, and find the necessary answers. Are you getting a good deal? Is the business right for you? Can you afford it? Have all avenues for future growth been investigated?
The services we provide incorporate every stage of the process - from identifying potential acquisitions, through to the negotiations of the commercial elements of the transaction, through to forecasting the future of the business.
Incorporated in this is includes:
1) A review of your goals and objectives
2) Due diligence services
3) Preparation of financial forecasts
4) Advice on potential pitfalls and rewards involved in a merger
5) Assistance with purchase negotiations
6) Advice on financing
7) Assistance with preparation of a business plan
Calling on the skills of professionals means you will be far less likely to purchase an unsuitable business.
Audits
Here at Munro Accountants we view Audits not as a necessary evil but rather as a great opportunity to review your business.
Our audit team will work closely with you to get to know your business. We use the latest computerised systems, based around a detailed analytical review of the accounts. This allows us to offer an objective view of your business so we can advise you of any potential problem areas.
Benchmarking
Have you ever wondered how your business performs compared to your competitors? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? What is the average bottom line of your competitors?
Survival in today's business climate requires you to spend more time working on your business rather than in the business.
We can provide you with accurate, timely and informative benchmarking reports - allowing you to:
1) See how your business compares against your competitors
2) Understand how the rest of your industry works
3) Analyse the key performance indicators of your industry
Armed with this information, we'll work with you to develop action strategies to improve your bottom line.
Bookkeeping
Modern business demands up to date accurate financial information. We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.
We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
Budgeting
A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.
In addition to goal setting value, budgets will often improve your chances of acquiring funding. Financers often require budgets as a prerequisite for funding approval.
The techniques we utilise in the formation of financial projections will allow you to consider future scenarios and give you goals to strive for in your business. There are many types of budgets and we can help you design the right budget for your needs and requirements.
Let us show you how a budget is able to provide feedback to allow you to prepare for the future of your business.
Business Startup and Structuring
Let us help you turn your business idea into a reality.
If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:
1) Decide on the most suitable structure for your business - sole trader, partnership, or limited company
2) Prepare a business plan, cashflow projections, budgets, and trading forecasts
3) Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
4) Establish a good working relationship with your bank
5) Register for an Australian Business Number with the ATO
6) Complete registration procedures with Australian Securities and Investments Commission
7) Deal with company secretarial issues
8) Set up a recording system for your internal use and for complying with statutory requirements
Cashflow Forecasting
Have you ever wondered if you are holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all expenses every month?
Survival in today's business climate requires you to spend more time working on your business rather than in the business. We can provide you with accurate, timely and informative cashflow forecasting reports - allowing you to:
1) Realise and understand when cash is available
2) Plan and prepare for expansion, stock control, and taxes
3) Analyse and anticipate key expenses
Armed with this information, we'll work with you to develop action strategies to improve your bottom line.
Company Secretary
Company legislation requires businesses to perform many administration tasks take up a lot of valuable company time. The last thing you need as a business owner is to be stressed out trying to ensure you are complying with the Corporations Law.
The possible threat of penalties for failing to keep up with the changing rules is too great a risk to take.
At Munro Accountants we are able to relieve this burden for you. Our services include:
1) General advice on company law
2) Company formations
3) Filing of annual returns on your behalf
4) Preparation of all documentation related to minutes and resolutions
5) Maintenance of statutory books
6) Assistance in changes of directors, shareholders, addresses, and office details
7) Bonus Issues
8) Share transfers
9) Registered Office Facility
GST
The GST system is a complex and confusing one. For this reason Munro Accountants ensures its staff are continuously up to day on the changes and able to offer you accurate advice.
Every transaction now brings with it a GST issue. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include, but are not limited to;
1) Advice on registering for GST
2) Filing and adjusting GST returns
3) ATO Audit assistance
Information Technology Solutions - click here
Insolvency
The key to avoiding insolvency is to seek professional help as soon as the first signs of difficulty appear. The experienced professionals at Munro Accountants are able to assist in identifying problem areas, and suggest solutions to improve the position of the company. Timely and expert advice may be able to save your business from liquidation or receivership.
Receivership entails someone being appointed to raise funds within the company to repay a financer. In the case so many of the company assets are sold it is unable to continue daily business a liquidation is necessary. A liquidator disposes of all the assets of the company and repays creditors. Upon liquidation the company ceases to exist
In the event that liquidation or receivership is necessary, Munro Accountants also has the experience and skills required to assist.
If your business is struggling under financial and operational difficulties, proactive and insightful action is vital for avoidance or minimisation of the ramifications.
Management Consulting
Our aim is to ensure your business achieves the potential it's capable of. We have the know how and experience to offer advice to help you run your business more effectively.
We are practiced in acting as a sounding board for management, bringing to the relationship years of experience in business growth. We can identify key performance indicators in your business, through which you will see the positive changes occurring with the help of our professional consultants.
We are able to check that your business is as competitive, focused, and profitable as it can be. We then offer flexible strategies, designed to address the issues affecting your business.
Contact us for a FREE Business Health Check
Payroll Services
Administering your payroll can be time-consuming and divert you from the core activities of your business. Payroll & employment legislation is growing increasingly complex.
We can relieve you of this burden by providing a comprehensive and confidential payroll service, including:
1) Customised payslips
2) Administration of PAYG, statutory sick pay, annual leave etc
3) ATO filing
4) Summaries and analyses of staff costs
5) Administration of incentive schemes, bonuses and termination payments
Even if you have only a few employees, you will make savings by engaging us to administer your payroll. Click here for a Payroll endorsement
Rental Properties
At Munro Accountants we have the necessary expertise to assist in a variety of areas in relation to residential and commercial property.
The services we offer our clients include:
1) Advice on the purchasing of a property
2) Reviews of lease agreements
3) Advice on funding
4) Guidance in tax minimisation
5) Advice on ownership structure
6) Periodic reviews to ensure returns are maximised
The importance of forecasts in making a residential investment cannot be emphasised enough. We are able to provide for you:
1) Forecasts of revenue returns
2) Forecasts of financial position
3) Forecasts of potential growth
Contact us today for more information on how we are able to assist you in the business of rental properties.
Risk Management
A multitude of risks exist in today's business environment. At Munro Accountants we pride ourselves on our proven ability to accurately assess risk and to protect you from vulnerabilities inherent in your enterprise. An effective risk management strategy will improve performance, allow completion of goals, and protect the value of your business.
A risk assessment includes:
1) Assembling relevant information about your business and its market
2) Identifying major risks facing your organisation
3) Developing a risk strategy
4) Implementation of the risk management procedures
Selling a Business
Selling a business can be a difficult time. At Munro Accountants we are able to relieve the stress for you.
The services we provide in relation to organising the selling of a business include:
1) Obtaining comparative results
2) Establishing a realistic sale price
3) Taking the business to the market
4) Negotiating with potential purchasers
5) Drafting a contract
Our friendly and professional staff are able to assist in such a way that a maximum return for your business can be achieved.
Social Media for Business
Do you have a Facebook page, Twitter and LinkedIn profile ? Do you know how to coordinate them all so you will fully engage your customers and drive sales usiing this exciting medium ? We can show you how with different packages from D.I.Y to Full service.
D.I.Y - we supply the ideas for interaction with your customers and the education for using Social Media to maket your products.
Full Service - we set up your business on Social Meddia and run your whole Social Media Marketing operation.
We can also tailor packages to suit your budget.
New to Social Media for Business? View the M Zone on the bottom of the our homepage to see what its all about live!.
Contact Jen Fitzgerald for a free website review and a Social Media "Is it for my business' meeting. Phone : 07 5539 9777
Strategic Planning
The pressures of daily business can often mean that strategic planning takes a back seat - but to have a successful business you must plan ahead. We'll help you establish a strategic plan that looks at where you want your business to be in the next 3-5 years and exactly how you and your team can achieve these aims and objectives.
Your strategic plan will:
1. Define the characteristics of your company in three to five years
2. Identify your competitors
3. Define your objectives and financial goals
4. Put in place an effective implementation plan to achieve your goals
Succession Planning
With Richard Munro as your AusIndusty accredited succession planning advisor you are in good hands during this lengthy process. It is critical to establish a well-designed succession plan and we with our experience we can address the complex issues of business continuation taking the stress off your shoulders.
Contact us for more information on forming a plan that allows for a hassle free continuation of your business.
Superannuation - We recommend My Super Advisor
As the Government encourages Australians to take responsibility for and reach their financial retirement goals, citizens are repeatedly required to deal with Superannuation funds.
Self-managed Superannuation is a means of saving for retirement. It allows you to control your investment strategy, reduce tax while obtaining tax benefits, and control administration costs.
Superannuation law is a complex area and personalised planning is required for each individual. At Munro Accountants we can assist in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.
Services My Super Advisor offers include;
1. Establishment of Self Managed Superannuation Funds
2. Completion of Information for the Insurance and Superannuation Commissions
3. Superannuation Audits
4. Advice concerning Compliance Matters and Taxation Benefits
5. Advice on Employer obligations
Taxation
At Munro Accountants we offer a full range of taxation services.
We provide a complete service of help and advice in all of the following areas:
- Preparation of activity statements and advice on payment of tax
- GST/FBT obligations
- Advice on and implementation of tax effective trust structures for asset protection and tax minimisation
- Management of any ATO Audits or disputes
Taxation can be a major cost to your business. We will work in partnership with you to minimise your tax and help you achieve your key objectives.
Trusts
A trust provides a valuable way of protecting the assets you have accumulated for the benefit of others.
We have extensive experience and so are able to offer specialist advice on Trust formation, ensuring that all statutory requirements are met. Obligations for trustees can often be onerous, and our assistance in Trust administration will also be invaluable.
We are able to:
Prepare and execute the vital documentation involved in Trust formation
- Attend to the special requirements involved in reporting for Trusts
- Trust administration
- Minute keeping service
- Annual accounts
- Taxation
- Asset management
- Investment monitoring
- Income distribution
Contact Us today to ensure that your trust is formed and administered as effectively as possible, covering all legal requirements allowing it to fulfill its purpose.
Valuations
An independent valuation provides you with answers to the questions you often need to ask about the value of a business or property. Am I getting the best price for the sale of my business? Is the asking price too much?
We are trained and experienced in business valuations and are able to provide you with simple guidelines and formulae for evaluating the worth of a business. We are also able to appear in court and in arbitration as expert witnesses in relation to business valuations.
Choose Munro Accountants for a professional and accurate valuation service.
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