annual accounting service

are you sick of getting bills from your accountant?

At elliotts, we do things differently.

We offer you an Annual Accounting Service, where all of your standard accounting, taxation and compliance needs are provided for a fixed price.

And the best part is, your Annual Accounting Service includes unlimited phone calls and emails, so you can get advice at any time without an additional fee.

If as a result of a phone call or email, we deem there is work to be performed that is not included in your Annual Accounting Service, we will provide you with a clear estimate, so you will know exactly how much it will cost.

Your Annual Accounting Service is cost is spread over 12 months, so it helps you to budget effectively and plan your cash flow.

Your Annual Accounting Service will be designed to suit your needs, so what ever services you need will be included in your fixed price. For example, it can include:

• Preparation of annual financial statements and tax returns;
• Meeting with you upon completion of your Financial Statements and Tax Returns to discuss your results and taxation obligations;
• ASIC annual returns for all companies in your group;
• All ATO, ASIC, and other statutory compliance administration;
• Tax Planning;
• Quarterly BAS;
• Unlimited telephone calls and emails throughout the financial year with regard to any matter whatsoever.

We also offer a range of services to help you grow your wealth and for business owners, increase your profits. These services can also be included in your Annual Accounting Service:

Annual Reporting Package

• A consolidated Balance Sheet and Profit & Loss Statement and Graphs, incorporating all of your entities excluding your superannuation fund.  Instead of having to add up all the individual Balance Sheets and Profit & Loss Statements to determine your overall position at the end of the year and your results for the year, the consolidated report will provide you with all of this information.  This information will also be presented to you with graphs to further enhance your understanding and confidence in the results.
• A consolidated Cash Flow report.  We often get asked, “You say I made that profit for the year, but it it’s not in the bank account, where did it go?”  Your consolidated cash flow report will answer these questions for you.  We will reconcile the profit that you made for the year with the net amount of cash you received from these profits for the year, and then summarise where this cash went.

Profit & Cash Flow Improvement Potential      

We will break down your results into the key profit and cash flow drivers that impact on your profit and cash flow results, based on your last year results.  When we deliver your financial statements and tax returns for the year, we will then work through this with you identifying those key drivers and the impact that small changes in the results of these drivers can have on your profit and cash flow.  We can explore and discuss any strategies to help you achieve improved results.  After the meeting, we will email you our Profit & Cash Flow Improvement Report for your future reference.

Quarterly Data File Review & Reporting

We will attend your premises after the end of each quarter and conduct a detailed review of and adjustment to your data files to ensure your accounting system is complete and accurate every quarter.  The level of review will be the sale as your July review under the Annual Accounting Service.  The July review is already included in your Annual Accounting Service package. The January/February review in your Annual Accounting Service package will be extended to a full and detailed review as well as our visits in October and April.  We will then produce the standard Quarterly and Year to Date reports from your computer system.

Quarterly Financial Management Accountability Meeting

We will conduct a financial strategy session with you to map out your financial targets, including key profit and cash flow action plan, identification of financial drivers and KPI’s for the Financial Year.  This will incorporate monthly integrated Profit, Cash Flow and Balance Sheet projections to 30 June, based on the financial outcomes and action plan determined.  We will then meet each quarter to review the financial results and financial position of your business, as well as the implementation of your action plan during the quarter, and development of your action plan for the next quarter.  You are will be responsible for the implementation and achievement of your outcomes, we will support you by holding you accountable to your action plan, providing you with sound financial management advice and support, as well as being available via unlimited email and telephone calls to discuss any matter or issue.

At elliotts, our goal is to support you in becoming Financially Well Organised.  

Your Annual Accounting Service will:

1. Improve the turnaround time of your work;
2. Provide you with a fixed price for all of your standard accounting, taxation and compliance needs;
3. Spreads the cost over 12 months for you; so instead of paying single amounts, you will have a smaller impact on your cash flow;
4. Provide you with the confidence that you can call, email or catch up with us at any time to discuss any matter, knowing that there will not be any additional fee for these discussions.

Call us today on 07 3833 3999 to find out how your Annual Accounting Service will help you.