Business Coaching and Start-Up
Too many small business owners work too hard, for too many hours, for far too little return.
As Michael Gerber points out in his book, 'The E Myth - Why Most Businesses Don't Work and What to Do About It', "Most people work IN their business. The Secret is NOT to work in it, its to work ON it so that you don't have to work In it".
When starting or buying a business or franchise, the wrong advice can be very costly.
Many issues need to be considered and our helpful, knowledgeable staff here at West Currie Consultants are here to make sure all our business clients are structured correctly for taxation purposes, taking into account financial and legal considerations.
- Business Structure
- Finance Requirements
- Software Selection and Training
- Employer Obligations
- General Tax Advice
- Bookkeeping Training
- Business Plan
- Business Evaluation
- Cashflow Forecasts
One of the most important decisions you need to make when starting a business is the choice of accounting software.
Ranging in price, features, support and training requirements it is easy to become confused with to many options. We therefore provide the following guidelines:
- Don't buy software beyond your business needs. If you don't need fully integrated general ledger system, then avoid these types of programs, especially if the next point applies to you.
- If you don't understand double entry accounting (i.e. debits, credits and journal entries) then avoid the more complicated general ledger accounting software programs. If you need to use such a program then you will need to undergo training to learn both the software and accounting.
- Your software should be compatible with our general ledger system to allow easy transfer of electronic data. This can save time, money and assist with meeting lodgement deadlines.
In Australia the three most popular accounting packages are MYOB, Reckon and Xero. Please read through our Online Accounting to make the best informed decision on your next software purchase.
We urge you to contact us regarding your choice of accounting software because the wrong package can lead to a 'computerised shoebox' records that can be more difficult to process than the traditional shoebox full of receipts!
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