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Bottrell Newcastle Accounting & Tax | Newcastle Accountants

Newcastle Accounting Firm, Bottrell Accountants & Tax Agents. Your Trusted Accountants

Newcastle Accounting & Tax advice provided by Bottrell Business Consultant – Located at 45 Hunter ST, Newcastle.

Bottrell Business Consultants Pty Ltd was founded in April 2010, servicing Individuals, Families & Business Owners.

The Newcastle office offers an extensive range of professional accounting, tax & financial planning services to meet the needs of businesses and individuals.

Accounting Services:

  • Annual tax compliance and tax assistance: Our team of tax experts can help you stay compliant with tax laws and regulations, file your tax returns and assist with any issues that may arise with the tax office.
  • Accounting tasks: We can assist with a variety of accounting tasks, such as preparing budgets, forecasting cash flow, and providing financial advice to help you make informed business decisions.
    • Annual Financial Reports
    • Annual Tax Returns
    • Interim Financial Statements
    • Business Activity Statements (BAS)
    • Fringe Benefits Tax
    • Payroll Tax
    • Taxable Payments Annual Reporting (TPAR)

Setting up new businesses:

Our team of experts can assist with forming a new business, including registering your business name and obtaining necessary licenses and permits. We can also advise on the most appropriate business structure for your company.

Business structuring: We can assist with restructuring your business to improve efficiency, reduce tax liabilities, and protect your personal assets.

Business Advisory:

Our team of experienced advisors can provide a wide range of business advice, including assistance with business plans, valuations, and strategic planning.

  • Business planning and strategic advice: In addition to our core services, we also offer business planning and strategic advice
    • including business plans,
    • business growth,
    • business valuations,
    • forecast cash flow,
    • budgets,
    • break-even point analysis,
    • strategic plans,
    • succession planning.

Bookkeeping:

Newcastle Accountants & Business Tax Agents - Team Bottrell Business Consultants

  • Managing daily bookkeeping: We can take care of your day-to-day bookkeeping tasks, including recording financial transactions, reconciling bank statements, and preparing financial statements.
  • Software providers (Xero, Quickbooks Online, MYOB): We work with software providers such as Xero, Quickbooks Online, and MYOB, and are 100% cloud-based, allowing us to provide accounting services to business owners anywhere in Australia. In addition, we set up, implement & provide ongoing training to clients with Xero, MYOB & Quickbooks.
  • Cloud-based accounting services: With the help of cloud-based accounting software, you can access your financial data from anywhere, and our team can provide support and advice remotely.

Our Newcastle office Bottrell Accountants are Qualified accountants, registered tax agents and financial planners who are dedicated to helping clients succeed and have a passion for assisting business owners in achieving their goals.

 

20 Tips for Budgeting and Cash Flow Management – Newcastle Accountants

Managing your budget and cash flow effectively is crucial for the financial health and success of your business. Here are 20 tips to help you improve your budgeting and cash flow management:

  • Create a Detailed Budget: Develop a comprehensive budget that includes all income sources and expenses, both fixed and variable.
  • Track Expenses: Monitor your expenses regularly to identify areas where you can cut costs or reallocate funds more efficiently.
  • Set Realistic Goals: Establish achievable financial goals for your business and align your budget with these objectives.
  • Review Regularly: Regularly review your budget to ensure it remains relevant and reflects any changes in your business operations.
  • Manage Accounts Receivable: Promptly follow up on overdue invoices to maintain a healthy cash flow and minimize late payments.
  • Negotiate Payment Terms: Negotiate favorable payment terms with suppliers to optimise cash flow and reduce financial strain.
  • Build Emergency Reserves: Set aside funds for unexpected expenses or emergencies to avoid dipping into operational cash flow.
  • Forecast Cash Flow: Use cash flow forecasting to anticipate fluctuations and plan accordingly for lean periods.
  • Control Inventory Levels: Avoid overstocking inventory to free up capital and prevent cash flow bottlenecks.
  • Monitor Profit Margins: Keep a close eye on your profit margins to ensure pricing strategies align with profitability goals.
  • Minimise Unnecessary Expenses: Identify and eliminate unnecessary expenses that do not contribute to your business objectives.
  • Implement Cost-saving Measures: Explore opportunities to reduce costs through process improvements, outsourcing, or automation.
  • Offer Incentives for Early Payment: Encourage prompt payment from customers by offering discounts or incentives for early settlement.
  • Utilise Technology: Leverage accounting software and digital tools to streamline budgeting, invoicing, and financial reporting processes.
  • Diversify Revenue Streams: Explore additional revenue streams or complementary services to supplement your core business income.
  • Monitor Cash Flow Ratios: Keep track of key cash flow ratios, such as the cash conversion cycle and working capital ratio, to gauge financial health.
  • Plan for Seasonal Variations: Anticipate seasonal fluctuations in revenue and expenses and adjust your budget accordingly.
  • Invest Wisely: Evaluate investment opportunities carefully to ensure they align with your long-term financial goals and risk tolerance.
  • Seek Professional Advice: Consult with financial advisors or accountants for expert guidance on budgeting strategies and cash flow management.
  • Stay Flexible: Remain agile and adaptable in your budgeting approach to respond effectively to changing market conditions or unforeseen challenges.

By implementing these tips, you can strengthen your budgeting practices and optimise cash flow management, contributing to the overall success and sustainability of your business.

Contact us at @ Newcastle Accountants

Physical Address – 45 Hunter St, Newcastle, NSW 2300.

P: 02 40275782

E: office@bottrellaccounting.com.au

Socials & Links for the Newcastle Accountants

Facebook – Bottrell Accounting Facebook Page

Instagram – Bottrell Accounting Instagram

Newcastle Office Google  – Bottrell Google

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