Newcastle Accountants | Maitland Accountants | Bottrell Offices located in Newcastle, Maitland. Your local Accountants, Tax Agents & Advisors in Newcastle & Maitland.

Starting a business is an exciting journey but can also be stressful and overwhelming.

Newcastle Accountants & Business Tax Agents - Team Bottrell Business Consultants

One of your most critical decisions is selecting the right accountant to help you with your financial and accounting needs. A reliable and knowledgeable accountant can help you grow and expand your business, but knowing what services they should provide is essential. In this article, we’ll discuss the essential services and jobs your accountant should provide when starting a business.

Business Structure Advice:

Choosing the proper business structure is crucial when starting a business. Your desired structure will affect your tax obligations, personal liability, and how you operate your business. Your accountant can help determine whether a sole proprietorship, partnership, company or trust best fits your business. They will consider your business goals, future growth, tax implications, and personal liability. They will help you make informed decisions that align with your business objectives.

Financial Projections and Budgeting:

Creating financial projections and budgets for your new business is crucial. Your accountant can help you create realistic economic forecasts and budgets for your business. This includes estimating revenues, expenses, and cash flow. Doing so lets you make informed decisions about your business’s financial health and growth potential. Your accountant can help you identify potential risks and opportunities to maximise profits.

Bookkeeping and Accounting System Setup:

Efficient bookkeeping is crucial for any business. Your accountant can help you set up a tailored accounting system to track your business’s financial transactions, including sales, expenses, and taxes. They will recommend the best accounting software and ensure it is appropriately configured to meet your business’s unique needs. Doing so lets you streamline your financial processes and focus on growing your business.

Tax Planning and Compliance:

Tax planning and compliance are vital for any business; your accountant should be an expert in this area. They will help you identify tax-saving opportunities, meet all tax obligations, and guide you through complex tax laws. Your accountant will also prepare and lodge your tax returns, Business Activity Statements (BAS), and other essential documents to ensure you comply with the Australian Taxation Office (ATO). By doing so, you can avoid potential penalties and fines and focus on growing your business.

Payroll and Superannuation Management:

Managing payroll and superannuation can be time-consuming and complicated. Your accountant can ensure your payroll system is set up correctly, manage employee payments, and handle superannuation contributions. They will also help you comply with the Fair Work Act and other relevant legislation. By outsourcing your payroll and superannuation management to your accountant, you can save time and resources and focus on other business areas.

Cash Flow Management:

Cash flow is the lifeblood of any business. Your accountant can help you monitor and manage your cash flow, ensuring you have enough funds to cover expenses and invest in growth. They will also help you identify potential cash flow issues and implement strategies to address them. Doing so can maintain a healthy cash flow and avoid financial challenges that could jeopardise your business’s growth.

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

Business Advisory Services:

As your business grows, you may face new challenges and opportunities. Your accountant should act as a trusted business advisor, providing strategic advice to help you make informed decisions. This can include advice on business expansion, securing financing, risk management, and succession planning. By having an accountant well-versed in business advisory services, you can ensure that you make sound decisions that align with your business objectives.

Financial Reporting and Analysis:

Your accountant will prepare regular financial reports, including profit and loss statements, balance sheets, and cash flow statements. These reports provide valuable insights into your business’s financial health, allowing you to make data-driven decisions. Your accountant will also help you analyse these reports and identify trends.


It is crucial for any business to remain compliant with the Australian Taxation Office (ATO), Australian Securities and Investments Commission (ASIC), and other government requirements. Non-compliance can lead to hefty penalties, fines, repetitional damage, and even legal action. Your accountant can help you comply with all these requirements by ensuring your financial records are accurate, up-to-date, and complete. They will also guide you through complex regulations and conditions, including tax, company, and employment laws. By doing so, you can avoid potential legal and financial issues and focus on growing your business. Additionally, staying compliant with these requirements can help you build trust and credibility with your customers, suppliers, and investors and position your business for long-term success.


Contact us at @ Newcastle Accountants

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

P: 02 49336888


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