Any business owner will attest to the challenges of running a business in Australia, especially if you need help with the financial side of your enterprise. However, most business owners don’t know about the different services a Certified Practitioner can provide, and how to determine which type would be the right fit for their business. We’ve taken the time to provide you with some considerations you should keep in mind when looking for professional accountancy services Melbourne.
What service is the best for you
Simply put, there are two broad financial services the average Australian business can expect to take on:
- A bookkeeper normally provides assistance and maintenance of an accounting software and should enter invoicing and receipt data on a set date each month. They can also assist with payroll data, quarterly tax instalments and the creation of monthly financial statements. If you can complete your own tax returns, getting the services of a bookkeeper might be your best choice.
- Certified Practitioners are individuals who have passed the rigorous certification process provided by one of Australia’s professional accounting bodies. CPAs provide advanced financial services like business consulting and tax planning, amongst others. You will often only engage the services of a CPA for your business as needed.
What to look for in a certified Practitioner
Engaging a Certified Practitioner or firm is just like hiring full-time staff, which means you should take the time to ask them the same questions you would in an interview. Ensure that the firm in question has experience working for businesses in your industry and that they can provide you with the necessary information about their software of choice, setup fees, their rates, and if they are willing to provide you with references.