There are many factors to consider when starting and growing a successful business. What kind of insurance will cover you? How are you going to keep your overhead relatively minimal? What kind of third parties will you employ to help you with your business affairs? All of these decisions can be hard to make, and harder to reverse if they’re made badly. One of the most important to get right is the benefit of outside help. You’re going to want to choose a trusted, hard-working team that can deliver on what they promise and have you and your business’ best interests at heart. They need to be thorough and transparent when handling important things like incoming revenue and end of year tax.
Choosing an accountant is one of these tough, often tedious decisions to make. Where do you even begin looking when there are so many recommendations – from friends, relatives, and the internet. Using the internet to find the best accountant is like looking for a needle in a haystack – time consuming and potentially impossible as it will become overwhelming with how many there are to choose from. What you really need is a solid, trustworthy recommendation to point you in the right direction so that you can make an informed, educated decision without feeling under pressure. So what’s one of the best accounting firms out there then?
Scott Partners are Melbourne’s business accountants and advisors. They are accountants handling affairs for small businesses, like your one. Scott Partners prides itself on specialising in small businesses. Using the software base of Xero, they create a friendly, time-sensitive environment for you so that you can rest easy knowing that at least one aspect of your business is running smoothly! Running a business can be very stressful at times, so it pays to choose an accountant who’s going to be available and on time with deadlines.
They also use a programme called Agreed Fee. It is a pay by the month technology that creates a transparent agreement where you know exactly what you’re going to get and when you’re going to get it – which leaves no room for unexpected fees or other less than ideal surprises. It’s also going to be better for you not to have to pay your accounting fees all in one cash lump – that’s not economical for any small business. Scott Partners have thought of everything when it comes to owning and running a small business, which is why they’re Melbourne’s preferred small business accountant – when you have someone on your team who understands you and you small business, then you can trust that they are going to provide the best service you could get. They also shy away from using paper these days – it’s riskier and destroys trees – so everything is done electronically. When they need you to sign something, they’ll send it over and leave you with a copy so that you can file away every interaction with them neatly and tidily all in one place, without having to worry about losing paper copies.
So how does a relationship with Scott Partners begin? It is a very simple three step process. Firstly, you introduce yourself and give them a quick rundown about you and your business. Then they schedule in a 30 minute, free, no obligation call with their principal, Scott Trevethan. Finally, this allows the decision to be made together on whether this is going to be a good fit for you and your business.
What are some frequently asked questions that Scott Partners has? It’s always good to know exactly what you’re getting into and who you’re partnering up with before you do, so that you can know without a shadow of a doubt it’s going to be a great, beneficial relationship. The first question is how much can I be expected to pay for accounting/consulting services per year? Scott Partners state that they tailor an annual fixed fee quote with their clients, with fees ranging from $600-$30,000 (based on how much your revenue is per annum). They believe that for most businesses, on average, a fee of $2000 a month is enough to meet all that is required within your accounting and business advice needs. Another very popular question is what should I be getting for my money? It’s good to know the answers to these kinds of questions before you enter into a partnership, so that you can trust your money is going exactly where it needs to be. Scott Partners start at the minimum, stating that your tax return prepared and lodged is the very least of what they offer. Other services include getting your annual accounts prepared, bookkeeping and payroll. At the other end of the scale they also provide services like business valuation, cashflow and profit analysis, business improvement advice, business planning and quarterly review. They are extensive and in-depth with their services, making it easier for you to place your trust in just one company to help you with the majority of your small business affairs.
All these factors are important when running a small business and considering the accounting firm you choose to help you. It’s definitely not an easy decision, and should take careful consideration and planning so that you know exactly what you’re getting into before you’re there. The advantage of Scott Partners is that you’re able to find all of this out before you’ve even signed anything, because they want to enter a partnership that’s going to be just as beneficial to them as it’s going to be to you. If your business doesn’t look like a good fit for them, they tell you from the get-go so you know not to waste your time and money – you would hate to find this out in a years time after investing with them. So by the time you actually sign that partnership with them, you’re guaranteed to know that your small business affairs are in safe hands, and that you’ll be better off financially because you’ve chosen a great asset to handle all things, from that painful tax return, to that dreaded quarterly review. They’ll make you feel confident and optimistic about your business affairs in no time.