Business Services

As a business owner, you wear a lot of hats, but we don’t think figuring out complicated accounting issues should be one of them. Sapphire Accounting and Taxation are here to help you with all your business accounting needs. We are your essential business partners.

End of financial year accounting

There’s a whole lot for business owners to do at the end of every financial year. So much so that it can be completely overwhelming. Sapphire Accounting and Taxation is here to help you get it all done. We can assist you with:

  • Reconciling your accounts
  • Income tax returns
  • Planning for the new financial year
  • Generating a profit and loss statement
  • Summarising your debtors and creditors
  • Collating asset records
  • Ensuring you meet your payroll and superannuation payments and obligations
  • Lodging reports and returns for Fringe Benefits Tax, Goods and Services Tax and other taxes
  • Reviewing your finances
  • Reviewing your business structure
  • Planning for the year ahead

Monthly financial reporting

Reporting. It sounds like a lot of work, but it’s a crucial aspect of running a business. We can compile reports for you each month so that you’re always on top of what’s happening in your business. We can even help you make sense of them. These reports will let you see:

  • Whether the business is making a profit or a loss
  • Whether your assets are in balance with your liabilities
  • If you’re making the best use of your money
  • How healthy your cash flow is
  • What your future looks like

Knowing how your business is placed allows you to make corrections where necessary. It makes sure that your finances don’t get out of hand. This helps to ensure your business will be around for many years to come.


Setting up businesses (entity formation)

Setting up your business the right way is vital. The wrong choice of business structure can leave your assets vulnerable. Setting your business up as a company or trust can have a lot of advantages. At Sapphire Accounting and Taxation, we can:

  • Prepare and execute the documentation needed to form an entity
  • Carry out necessary reporting for trusts and companies
  • Oversee the administration of the trust
  • Manage the accounts
  • Provide taxation services for the entity
  • Monitor the entity’s investments

We’d love to talk to you to see if forming a company or trust is the right move for your business.


Business Advice

Before you jump headlong into business, it’s a good idea to talk to your accountant about the best way to approach it. We know. It’s difficult. You’re itching to get started and you don’t want anything to hold you up. We’ve been there. But a bit of advice from Sapphire Accounting and Taxation at the outset can save you a whole lot of time and money in the long run. And this is true whether you’re looking at starting a micro-business or big business.

At Sapphire Accounting and Taxation, we can:

  • Provide advice on how to structure your business
  • Help you with your business name registration
  • Help you set up a company or trust
  • Provide advice about how to keep your financial records
  • Provide suggestions about the best way to invoice clients and accept payment
  • Analyse the business figures so you can decide if the business is a good bet
  • Talk to you about your legal requirements from a financial and tax perspective
  • Help you plan ahead

So, we’re asking you to pause. Take a minute to get in touch with Sapphire Accounting and Taxation before you make any hasty moves. We’ll help you start your business on solid ground.


Software Advice

You probably know that you need to move your business accounting online. Not only does it make you look like a more legitimate and professional business, but accounting software will also save you tonnes of time. It also lets you keep an eye on your cash flow and expenses. Not to mention, it makes completing and submitting your BAS a cinch.

But the concept of choosing an accounting software package, setting it up and then figuring out how to use it can seem like a technical nightmare. Sapphire accounting can help you make the right choice in accounting software. We’ll tailor our recommendations to your business. We can then set up the software for you, teach you how to use it, and help you transition from your old accounting system to your new one.  We even offer bookkeeping services.


Self managed super fund compliance (not audits)

So, you want to take control of your retirement? We get it. Being a member of a large super fund can feel impersonal. And the strategies they employ are not necessarily what you’d choose for yourself. You know what your retirement goals are, and you want to have some influence over how you achieve them. A self managed super fund can be a great option. But you need to be aware that SMSFs are not simple to manage.

You are required to prepare the following annually:

  • Balance sheet
  • Profit and loss statement
  • Membership statements
  • Trustee resolutions and minutes
  • Income tax return
  • And much more…

Sapphire Accounting and Taxation are here to make sure your self managed super fund is compliant. We’ll take away the headaches so you can enjoy benefits like:

  • Saving for your ideal retirement
  • Having control over your investment strategy
  • Tax benefits
  • Controlled administration costs


We’re here to help! Do you have a question about what you need assistance with and what it is we can offer? We’d love to hear from you and book in an obligation free consultation.