Small business accountant

Starting a business is a daunting challenge in and of itself. Aside from needing the right skills and assets to start, you must also know how to manage your finances well. Spending and allocating your money responsibly can quite often mean the difference between success and failure. If you don't have experience in budgeting profits, it can quickly spell disaster for your business. In these cases, it is better to hire accountants who can help you maximise profits while expanding your business rather than doing it yourself.

We at BYN Accounting believe that prioritising small businesses is key to a better future, which is why most of our services are geared towards helping small business owners manage their cash flow to get the most out of their finances. Whether it be financial consultations or more hands-on approaches, we have the accounting and consultation services you need to grow your business. Our cutting-edge cloud-based accounting software can ensure that the service you get is the best out there.

Moreover, you can also book a free financial consultation with us, so we can be on the same page when helping you. Our firm offers a complimentary client review service that can be renewed as you enlist our services, often becoming an annual consultation for most clients. The consultation identifies opportunities to grow as a business and tax inefficiencies that can be improved.

We have a wide range of consulting and accounting services for our customers, including:

Proactive accounting meeting

Finding the right accounting firm to help you with your specific business needs can be difficult and is a bit like finding the right shoe size. If you feel like your current accounting firm isn't cutting it for you, we offer a complimentary Proactive Accounting Meeting where we review your current situation and discuss how we can support you.

During this meeting, we'll be able to analyse your issues, identify potential opportunities, and provide a timeline where we will help you set milestones and strategies to get you back on track to where you need to be. After the meeting, we will present you with a proposal with all costs upfront.

Management reporting

Measuring your business's financial situation is an important part of managing it. Without knowing your progress and where you've been, you can't plan for the future or improve on areas that need optimising.

However, monitoring your financial progress while running your business is challenging. Our management reporting service will provide you with a monthly report of your business progress, with goals you can set at an earlier meeting.

Monitoring your business performance is important in rolling out improvements to your processes and gaining a better perspective on your financial position. With access to accurate and updated reports, you'll be able to grow your small business and your profits exponentially.

Business Planning

Planning is the most crucial aspect of starting any business. Without goals in mind, you will end up operating on a day-to-day basis with no progress on growing. With our business advisory services, you can set short-term to long-term goals as we guide you with the strategies to achieve them. After an extensive meeting to discuss what direction you want for your business, we can formulate a simple but concise one-page business plan for you to follow.

Cashflow Management

As you continue operations, it can be easy to lose track of where your money comes from and how it goes. Sure, your profits may not dip in the red, but it still helps knowing where your cash comes from so you can plan on future improvements. Our accountants offer a quarterly report on your cash flow and how to allocate your resources better and maximise your Cash Conversion Cycle, guiding you on when to buy assets or liquidate them to avoid future losses. We'll help you predict when you will have a large outflow of cash and where to allocate them, as well as respond to any potential direction change in your business.

Quarterly coaching

Owning and running a business can often feel like you don't know what you're doing. If you are just getting by on a daily basis, you won't even have the free time to try and visualise and plan what the future of your business will be. With our quarterly coaching service, we give you support on what steps you can take to increase profits and measure current performance with predicted forecasts. We also provide a sounding board of experts to help you flesh out ideas and concepts that you might have struggled with on your own.

Financial Awareness coaching

It can be easy to lose track of spending while you're thinking of expanding operations. If you work with a lot of automation and machinery, the costs of maintenance and spare parts alone will be enough to put a dent in profits, especially when it happens routinely. With our help, you can keep an eye on liabilities while making sure your profits are in the green. We'll meet with you every two months to discuss your financial statements while helping you make those statements every month.

KPI Improvement coaching

Key Point Indicators, or KPIs, are the main driving factors that make your business thrive. If you're in the production or service industries, understanding your major profit points and improving them is crucial if you want to see growth. Our service focuses on identifying your KPIs, which can be either financial, like your gross profit margin, or non-financial, like customer satisfaction ratings. We measure them monthly as we help you improve on them. We provide a monthly plan on how to best improve your KPIs to ensure overall improvement.

The organisational review

Sometimes when you run your own business, especially if you established it yourself, you find it difficult to delegate tasks and processes that you have developed, resulting in you, the owner, taking on more work for yourself. Because of this, most owners find it difficult to oversee their business on a higher level, as they are too busy running the operation from the ground. Our accounting firm can provide you with an organisational review, building a chart with you and your employees so that roles can be properly defined and assigned. This will give your business a basis of structure, enabling you to see points for improvement and how best to scale your organisation out.

Core Values Development

Every great business has a clear vision of who they are and what they focus on within its organisation. We offer to help small business owners design a set of core values for their business that will, in turn, help guide them with their decisions in the future. These values will help define interactions with both your client base and how your employees treat each other. Within our 4-hour session, we will help you understand what you want to stand for as a company, eventually formulating five core value policies that will let your employees know what is expected of them as they work for you.

Succession Planning

To be more successful in their respective fields, small businesses must plan ahead by defining clear goals within the next 3-5 years. The bigger the timeframe, the more you can make of your planning and implementation. Succession planning takes all things into consideration and lets you do just that. By the end of the half-day session, you will have a more comprehensive layout of how to achieve your goals, manage weak points, and work out a 12-month timeline to guide decision-making so that you can be on the road to major improvement.

Values-Based Selling

As a first-time business owner, you may lack knowledge on how to do certain sales-related practices like proposals, action plans, or defining terms and policies for your clients. Customer interaction is essential in operating a small business, as building these relationships also ensures they keep coming back. Our coaching service helps you broaden your sales knowledge, gives you more confidence in selling your products and services to your customers, and adapt quickly to changes in your business so you can provide your clients ease of mind.

Business Seminars

If you feel you're not yet ready to commit to a more extended programme, we also offer shorter seminars that address the same concerns as our services above. While it won't be as in-depth or hands-on, they provide crash course knowledge on their respective topics so you can better understand how they can work for you. Our seminars include cash flow management and ways to grow your business, enabling small-time business owners to quickly identify points in which they can improve on their operations and finance management. In just 90 minutes, we can ensure that you will have a deeper understanding of how best to run your organisation and make sure that profits don't go below spending. In today's market, any edge you can take will help get you on a path to greater success.

Contact Us

PO BOX 748


NSW, 2007