EzyAccounts K B Fayers

Whether you are a Sole Trader, Company or Trust we can complete and file your Tax Return online for you. EzyAccounts K B Fayers can assist if we first need to get your bookkeeping up to date.

Bookkeeping is the recording and monitoring of your business' day-to-day financial transactions, keeping track of purchases, sales, receipts and payments. They can also assist with payroll management, accounts payable/receivable, bank reconciliations, and superannuation. All of these business tasks are important, and all require professional attention if you want to ensure they're done correctly,

In addition to general day-to-day bookkeeping tasks, you will also want a bookkeeper who can ensure your business is compliant with tax laws.

A bookkeeper who is also a registered Tax Agent can prepare financial information for the tax office, including Business Activity Statements (BAS), and can help you ensure your business is compliant with Goods and Services Tax (GST), Fringe Benefits Tax (FBT), employee superannuation payments, Pay As You Go (PAYG) instalments, Single Touch Payroll (STP) and other such legislation.

According to the Victorian State Government, 80% of business failures are caused by problems with cash flow. We have a range of bookkeeping services available to help you with cash flow forecasting

A cash flow forecast is a prediction of how much money will come into and go out of your business in a given period of time. It's a forecast of your expected income and expenses and the subsequent impact on your available cash.

To get the most out of this your bookkeeping needs to be kept up to date and not something that is done once a quarter when the BAS is due, but modern software and EzyAccounts can help with that.

Payrolls come in all shapes and sizes, from simple to complex but no matter where on the spectrum, it's important to ensure that your payroll is correct, compliant and managed efficiently.

If your payroll is simple we can help you to manage it easily and efficiently (including lodging the necessary Single Touch Payroll [STP] information) on any standard payroll system, but if it's complex we can help you identify the most appropriate sophisticated payroll processing and workforce management system for you.

You've probably been told many times that your business should have a budget and that's because it can help you to balance your business' expenses and income, so you can ensure that you aren't spending more than you're earning.

To get the most out of budgeting you also need to identify and analyse your budget variances and we can help you with all of this.

When your business' inventory is effectively managed, you can be confident that you know where your stock stands. You know what is on hand, where it is, and what you need more of.

Accurate inventory management creates opportunities to improve your efficiency and profits. It does this by allowing you to:

Implement efficient re-ordering, because you know when to place an order, and know how many units to order so production runs smoothly and inventory is neither too high or too low

Track work in progress

Provide accurate information for customer service

Avoid problems by identifying issues before they get out of hand

Conduct efficient stocktakes

Avoid missed sales due to being out-of-stock

Improve the accuracy of accounting and profit/loss reporting so you can create accurate records for tax and avoid underpaying and attracting fines

Control costs by managing the total value of goods and your tax burden

Minimise production interruptions by calculating appropriate buffer stock/equipment for emergency situations

Avoid wasting cash and space by overstocking items

Other Management Accounting services that we can provide include calculating your Profitability Ratios and KPIs and Business Benchmarking.

Profitability ratios compare your business' profits to sales, total assets or net worth. They're a great business tool for analysing your business' profitability as the data thy provide can be used as a tool to improve your business' profitability.

KPIs (Key Performance Indicators) allow you to define and measure your success or progress in achieving a business goal. Effective small business KPIs help you to make decisions based on numbers and facts, rather than simple gut feeling and guesses.

Business benchmarking involves comparing you business' performance against data about comparable businesses in your industry.

A Virtual or Outsourced CFO (Chief Financial Officer) or Financial Controller is for businesses that cannot justify hiring a full time employee with the necessary skills and experience.

Your Financial Controller / CFO is the financial leader in your business. Their duties will vary depending on the size of your organisation and the complexity of your business' finances. What will not vary, however, is the importance of their role in ensuring the long-term financial success of your business.
Even if we are only only onboard to do your quarterly BAS we will perform some of this role anyway but consider committing to this as a service.