Hillyer Riches

Accounting and tax advice from Carnegie

Based in Carnegie, a suburb of Melbourne, the practice works with start-ups, growing companies, businesses that are consolidating, family-owned firms and individuals who hold investments. The firm describes itself as an award-winning accounting practice and says it has been trusted in its area since 1987. It calls itself a CPA practice, and its team of accountants, business advisers and mentors offers in-person meetings as well as online work.

Tax strategy that goes beyond the year-end figure

The tax work covers strategic advice on growth, managing risk and staying compliant with the Australian Taxation Office. The firm argues that interpreting financial statements means more than processing numbers on a page, and that a sound tax strategy does more than reduce the amount paid at the end of the financial year. It says its tax figures tell the story of a business, and that the specialist tax and accounting services it provides help owners make changes that last. Its planning ranges from the basics of PAYG tax to more complex strategies for personal and business affairs.

Bookkeeping, BAS lodgements and payroll

The bookkeeping team offers a full range of services, from day-to-day entries through to year-end work. The list includes accounting software set-up and training, BAS lodgements, catch-up work, the repair of messy files and full payroll services. Ongoing bookkeeping is designed to keep clients on track and to help them manage cash flow so that funds are there when needed. The firm is an MYOB Gold partner and also works with Xero and QuickBooks, reviewing a client's needs before recommending the system that suits them best.

Cloud accounting and technology choices

The accountants are trained in cloud accounting and advise on which technology will suit a particular business. They help clients get up and running on the chosen software, and they set up routine work so that accounting, compliance, taxation and bookkeeping are easier to manage. The firm says it is moving its own work with business clients onto cloud-based systems, which it describes as a way of making records more accurate and easier to keep up to date.

Business advice built on regular review

The practice meets clients regularly to interpret results and to produce the reports they need to make decisions. Its advice covers business structures, accounting, tax and superannuation, and it says it wants to help owners change the way they run their business rather than only report on it. The firm also advises on the risks that come with growth, including how to avoid common pitfalls and how to build frameworks for managing risk while keeping an owner's entrepreneurial drive.

Self-managed superannuation advice

For clients who want more direct control over their retirement savings, the firm provides advice on self-managed superannuation, including support for owners of an existing self-managed fund. It says this can extend to investing in property and to managing a portfolio of direct shares, and it explains why self-managed superannuation has become so popular with many investors.

Hillyer Riches is an accounting and business advisory practice based in Carnegie, Melbourne. It was founded in 1987 and says it has looked after more than 1,000 businesses. Clients can meet the team in person or work with them online.

Products and services

• Accounting and taxation: tax returns and planning for companies, trusts, partnerships, self-managed super funds and individuals.
• Bookkeeping and BAS: ongoing bookkeeping with support for MYOB, Xero, NetSuite and QuickBooks.
• Payroll: payroll services and payroll tax compliance.
• Business advisory: monthly performance reviews, budgeting and commercial advice.
• Tax structuring: planning around asset sales, employee benefits and business transactions.

Who it serves

Family-owned businesses, start-ups, growing companies and individuals with investments, including clients with overseas tax obligations.

Key facts

• Based in: Carnegie, Melbourne, Australia
• Founded: 1987
• Partnerships: MYOB Gold Partner, also works with Xero and QuickBooks