What We Do
We’ve developed The 6-Step Service Plan™ to provide the support that each business owner needs from their accountant to help them make better business decisions. I’m Mel Wear, principal and founder of Wear Accountants. I’ve spent the last 25 years as an accountant in public practice supporting business owners, and I know how hard businesses are to run.
It’s important for your success that you have someone in your corner giving you the professional support and financial leadership you need. That’s why we’ve developed The 6-Step Service Plan™ so that you can get cost-effective, hands-on, professional support and financial leadership for your business.
1 - Staying Compliant
Every business needs accounting, tax and compliance services. Keeping on top of your tax and statutory reporting requirements is vital if you want to stay in business.
This is the foundation of a well-run business, and that’s something you can leave to our experienced team. They know how to deliver the specific requirements of the ATO and ASIC, including:
- preparation of financial statements and tax returns,
- Self-Managed Superannuation Fund compliance,
- Business Activity Statements (BAS),
- ASIC compliance, and
- industry-specific compliance.
2 – Tax Minimisation
The second step is to make sure that your business is set up to legitimately minimise your tax.
We take the time to understand everything about you, your business and your investment structures. We then use our experience to apply the law strategically to set up your structure so that we can minimise your tax, including:
- reviewing your structure,
- pre-June 30 tax planning,
- implement the best tax strategy at the end of the year,
- preparing taxation payment projections,
- looking at staff incentive and bonus calculations,
- tax-effective exit strategies,
- depreciation and capital works expenditure, and
- correct utilisation of small business capital gains tax concessions.
3 – Asset Protection
After that, we then need to make sure that your assets are protected. As part of understanding everything about you, your business and your investment structures, we’ll get a good idea of the current and future assets that will need protecting.
We can then help to protect your assets with effective structure planning, risk protection and succession planning. We also review this each year, monitoring legislative changes and ATO private rulings as well as changes in your situation.
4 – Accounting Software & Systems
This step is about making sure you have the right accounting processes in place and that you’re using your accounting software (the likes of Xero, MYOB and Reckon) effectively in your business.
Often, by making small changes in how you process your accounts or using time-saving features in your software, you can save hours of time processing your accounts and access better information to run your business.
We can help with our key services, including:
- accounting software review,
- accounting software selection,
- accounting software set-up and implementation, and
- accounting software training and support.
5 – Bookkeeping & Payroll
If you don’t have the time or staff to do bookkeeping and payroll, we can do it for you. We can come to your office or work remotely to process your accounts and payroll or support you in getting it done on a daily, weekly, monthly or quarterly basis.
We will provide you with support from an expert with timely and accurate bookkeeping and payroll services. This helps free up your time to spend working on your business or to spend time with your family.
6 – Virtual CFO Support
The final step is about helping you to understand and use your numbers to manage and improve your business.
It’s important to have strong financial leadership in your business, more than what your bookkeeper can provide. But employing a full-time CFO is expensive, and it’s an expense that is hard to justify for most businesses.
That’s where our virtual CFO service can help you. This service includes:
- financial analysis and review,
- calculating your break-even point,
- preparing budgets and forecasts,
- cash flow forecast and management,
- monthly or quarterly financial reporting and analysis, and
- monthly or quarterly management meeting.
If you’d like to find out more, then we have two ways to help you out.
- You can download our free 28-point checklist that shows you everything you should be doing to stay compliant, minimise tax, protect your assets and manage your finances – click here
- You can book your 15-minute discovery session call to find out IF and HOW we can help you and then, if relevant, we’ll book your complimentary tax review – click here.
Book your 15-minute discovery session call to find out IF and HOW we can help you and then, if relevant, we’ll book your complimentary tax review.