Accounting

Modern business requires up-to-date, accurate financial information. We can relieve you and your staff of the enormous burden of all your bookkeeping and accounting needs, including 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 information relevant to your situation, as well as constructive advice, on a regular basis.

Having an effective budget is one of the best business tools you can have, enabling you to set financial targets and measure your performance.

In addition to goal-setting value, budgets will often improve your chances of acquiring funding. Financiers often require budgets as a prerequisite for funding approval.

The techniques we utilise to form financial projections enable you to consider future scenarios and provide you with goals to strive for in your business. There are many types of budgets and we can help you design the right budget for your requirements.

Let us show you how a budget can provide feedback that helps you prepare for the future of your business!

Are you holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all your expenses every month? Surviving in today’s business climate requires you to spend more time working on your business than in it.

We can provide you with accurate, timely, informative cash flow forecasting reports that enable you to:

• Realise and understand when cash is available.
• Plan and prepare for expansion, stock control, and taxes.
• Analyse and anticipate key expenses.

Equipped with this information, we’ll work with you to develop action strategies that improve your bottom line.

Administering your payroll can be time-consuming and divert you from your core business activities. Added to this, payroll and employment legislation are growing increasingly complex.

We can relieve you of this burden by providing a comprehensive, confidential payroll service that includes:

• Customised payslips.
• ATO Single Touch Payroll filing.
• Summaries and analyses of staff costs.
• Administration of incentive schemes, bonuses, and termination payments.
• Attention to monthly/quarterly superannuation guarantee.
• WorkCover.

Even if you only have a few employees, you will save by engaging us to administer your payroll.

Farm accounting involves specific business, financial and taxation issues and a specialist understanding of the industry. At Fahey & Walsh we keep abreast of the developments in both the farming and accounting industries, ensuring we are uniquely placed to provide up-to-date, accurate advice.

Our services include:

• Farm budgeting and cash flows.
• Farm sales and purchases.
• Ownership structures.
• Preparation of financial statements.
• Taxation.
• Seasonal planning.
• Succession planning.

Let us assist you in making the right choice of accounting software. A decent accounting system will help you keep track of your cash flow and let you complete GST returns easily.

Choosing the right system for your business can be difficult. After all, there are over sixty accounting packages available in Australia. Here at Fahey & Walsh we invest considerable resources into ongoing staff training to ensure we can recommend the best accounting solution for your business. We are experienced in multiple accounting software’s including Xero (of which we are a Gold Partner), Intuit QuickBooks, MYOB & Reckon Accounts.