Accolade Accounting

Small business owners in West Perth, Western Australia, are the clients Accolade Accounting aims at, and the firm also lists Melbourne among its locations. Its focus is tax, cash flow and lifting financial admin off owners so they have time for what they enjoy.

Starting a business well

For new owners the firm offers to guide them through the maze of setting up and running a business, so that they begin with good habits. It argues that a business can only be improved if it is measured and that measuring requires keeping records, noting that an owner who cannot keep up with the books is working blind.

Bookkeeping that runs on cloud tools

For bookkeeping, the firm introduces automation and cloud-based technology so that records stay current with little effort and owners have time for other things.

Tax that is planned

The firm says the only time a small business owner pays no tax is when making a loss, and that it helps clients reduce the amount payable and answers their tax questions so they understand the result. It also assists individuals with investments to reduce their tax.

Budgets and cash flow

The firm compares a budget to a satellite navigation system for a business journey: owners have not been this way before, so they need a plan. It stresses cash flow and uses guidance on managing the quarterly business activity statement so that owners are not caught short.

A part-time finance chief

Because most small businesses cannot afford a full-time or part-time internal accountant or chief financial officer, the firm offers a rent-a-CFO service. The client gets an independent opinion and pays only for the time spent.

Vision and approach

The firm says its vision is to help small business owners make and save more money by improving performance, giving them peace of mind. It follows a staged approach and holds initial meetings at the client's office.