Edge B C

Bookkeeping and a virtual CFO for Brisbane small businesses

Edge B C, which trades as Edge Business Consulting and Certified Bookkeepers, is a bookkeeping and small business consultancy in Brisbane, Australia. The firm describes its team as qualified bookkeepers, business advisers and accountants with more than twenty years of experience between them. Its work centres on small companies that want their finances in order without hiring a full finance department.

Bookkeeping handled for the client

The firm takes on the whole bookkeeping process, from setting up the accounts through processing transactions to preparing records for the client's accountant. It specialises in the Xero accounting platform and says it can support clients at several levels, depending on how much they want to do themselves. Bookkeeping, as the firm describes it, means recording each financial transaction in the general ledger using double-entry methods, checking the numbers and deductions, and keeping records in a form that can stand up to an audit.

A fixed monthly fee and a virtual CFO

Clients can choose from packages with a fixed monthly fee, or from hourly options. The firm says the fixed fee lets owners ask questions in real time without each conversation adding to the bill. Its packages include what it calls a virtual CFO, a finance adviser the client can ask at any time, and each client is assigned two points of contact.

The four core financial statements

The firm prepares the four core financial statements for a business: the profit and loss statement, the balance sheet, the cash flow statement and the statement of changes in equity. The company explains that the profit and loss statement shows revenue and expenses over a period, and the statement of changes in equity shows how capital and retained earnings have moved.

Interpreting the numbers

The firm also interprets the data. It helps with budgeting, forecasting, financial modelling and management reports, and it presents this as what sets it apart from bookkeepers who only record figures. Its aim is to give owners the understanding to make decisions about their business.

Tax and regulatory work

The firm handles ATO lodgements and general finances, so that a business's regulatory requirements are met on time. It describes its role as part of the growth of small businesses, and says it enjoys helping owners to see their businesses succeed.