For nearly 30 years, our organization has been working to keep our clients compliant. The mess of tax that any business faces needs to be understood.
It's not just lodging tax on time – we look at the business you operate and use the accounts to advise you and help you plan to keep out of financial trouble, get out of it, and make significant gains for yourself.
Why did you go into business?
To make more for yourself and your family
Top, be in control of your destiny and have some fun.
Look back on your legacy and know you achieved such great things.
Fresh Numbers gets the accounts done.
We know that there are some natural ups and downs. It would help if you mixed being a visionary and an entrepreneur with practical planning and tight control of the money. Know when to rush a project and when to be cautious. We bring our accounting and business experience to help you. The accounts and the results are the evidence of what is being achieved in your business.
A completed set of accounts, often called financial statements, provides valuable information about a business or organization's financial performance, position, and cash flows.
The information we provide you shows a business's financial health and performance, enabling informed decision-making and financial analysis.
The statements break down various expenses incurred by the business, such as cost of goods sold, operating expenses, interest expenses, and taxes.
Gross Profit Margin
The gross profit margin is calculated by dividing gross profit (revenue minus cost of goods sold) by revenue. It indicates the profitability of the core operations of the business.
Net Profit Margin
This metric is calculated by dividing net income by revenue and represents the overall profitability of the business after all expenses.
The balance sheet provides a snapshot of the business's financial position at a specific point in time. It includes assets (what the business owns), liabilities (what the business owes), and equity (the owner's or shareholders' interest in the business).
The balance sheet lists the business's assets, including current assets (e.g., cash, accounts receivable) and non-current assets (e.g., property, plant, equipment).
Liabilities on the balance sheet include current liabilities (e.g., accounts payable, short-term loans) and long-term liabilities (e.g., long-term debt).
Equity represents the residual interest in the assets of the entity after deducting liabilities. It includes owner's equity or shareholders' equity.
Cash Flow Statement
The statement of cash flows shows how cash and cash equivalents have changed over the reporting period. It categorizes cash flows into operating, investing, and financing activities.
Operating Cash Flow
This section of the cash flow statement indicates the cash generated or used by the business's core operating activities. It reflects the ability to generate cash from day-to-day operations.
Investing Cash Flow
Details cash flows related to investments, such as purchasing or selling assets like equipment or investments in other businesses.
Financing Cash Flow
Shows cash flows related to financing activities, such as borrowing or repaying debt, issuing or buying back shares, and paying dividends
Earnings per Share (EPS)
For publicly traded companies, the financial statements often provide EPS, which is the portion of profit attributable to each outstanding share of common stock.
Financial statements can be used to calculate various debt ratios, such as debt-to-equity ratio and interest coverage ratio, to assess the company's financial leverage and ability to service its debt.
For businesses with inventory, financial statements can help calculate inventory turnover, indicating how efficiently inventory is managed.
Accounts Receivable Aging
Information on accounts receivable can reveal how quickly customers are paying their bills and the potential for bad debts.
Depreciation and Amortization
Financial statements include information about the depreciation and amortization expenses, which reflects the allocation of costs for long-term assets.
Accruals and Prepayments
These accounts show whether expenses or revenues have been recognized before or after cash transactions.
Financial statements often include data from previous periods (comparative data) to facilitate trend analysis and performance assessment.
Financial statements show the total revenue generated by the business during a specific period. This includes sales, fees, or any other income sources.
Profit or Loss
By subtracting total expenses from revenue, you can determine whether the business made a profit (net income) or incurred a loss (net loss) during the period.
Being good in business means allowing us to teach you
what it all means. It's not just what's in the bank, and can I pay wages on Thursday? It's about the ability to use the accounts to predict profit and problems, to plan to pay tax, and to have a cash flow that allows you to take opportunities in the marketplace.
Fresh Numbers deals with the tax stuff
Not everyone in business needs our complete set of services. But everyone needs tax returns completed; most need BAS and payroll, benefits and a sharp eye to ensure no issues with the tax man.
But whatever your needs, we have a large and capable team ready to work hard for your business.
1. Income Tax Preparation: Assistance with preparing and filing income tax returns for individuals, including salary earners, self-employed individuals, and investors.
2. Business Tax Preparation: Preparation and filing of tax returns for businesses, including sole traders, partnerships, companies, and trusts.
3. Capital Gains Tax (CGT) Planning: Guidance on minimizing capital gains tax liabilities through strategic planning and asset management.
4. Goods and Services Tax (GST) Services: Assistance with GST registration, return preparation, and compliance for businesses required to collect and remit GST.
5. Fringe Benefits Tax (FBT) Services: Filing FBT returns and providing advice on minimizing the tax impact of fringe benefits provided to employees.
6. Payroll Tax Services: Calculation, filing, and compliance with state and territory payroll tax requirements.
7. Business Activity Statements (BAS) Preparation: Assistance with completing and lodging BAS for businesses, including GST reporting.
8. Superannuation Compliance: Ensuring compliance with superannuation guarantee obligations and assisting with self-managed superannuation funds (SMSFs).
9. Tax Planning: Strategic tax planning to optimize tax efficiency for both individuals and businesses.
10. International Taxation: Expertise in dealing with cross-border tax issues, including transfer pricing, Double Taxation Agreements (DTAs), and foreign income reporting.
11. Research and Development (R&D) Tax Incentives: Assisting businesses in claiming R&D tax incentives and grants from the Australian government.
12. Small Business Tax Concessions: Advising and assisting small businesses in accessing tax concessions and deductions available to them.
13. Tax Compliance: Ensuring compliance with all relevant tax laws and regulations, including staying up-to-date with changes in tax legislation.
14. Tax Dispute Resolution: Representing clients in disputes with the Australian Taxation Office (ATO) and assisting with tax audit defence.
15. Estate and Inheritance Tax Planning: Assisting individuals and families in minimizing estate and inheritance tax liabilities.
16. Tax Minimization Strategies: Developing and implementing tax-efficient strategies for individuals and businesses.
17. Tax Compliance for Non-profit Organizations: Ensuring that not-for-profit organizations maintain their tax-exempt status and comply with relevant tax regulations.
18. Stamp Duty and Land Tax Services: Advising on and managing stamp duty and land tax obligations related to property transactions.
19. Taxation Training and Workshops: Providing training and workshops to clients and staff to enhance their understanding of tax issues and compliance.
20. Tax Advisory Services: Offering expert advice on complex tax matters, such as tax structuring, mergers and acquisitions, and corporate restructuring.
This list is not exhaustive, as the tax landscape in Australia can be quite complex and multifaceted. Accounting firms may offer specialized services tailored to specific industries or client needs. It's important for accounting businesses to stay current with Australian tax laws and regulations and adapt their services accordingly.
Fresh Numbers has a mighty strong and well experienced team
We love businesses of all sizes. Small or large, we have been robust in creating plans that help our clients survive and then thrives.
Each client is working win a team made up of client coordinators, accountants and senior accountants, tax specialists and consultants. Between us there are hundreds of years of experience. Click here to meet some of the team
Fara Accountant and BAS specialist
Sarina Accountant and BAS specialist
Leslie Accountant and BAS specialist
Nisa Manager and senior accountant, trainer
Eja Accountant and BAS specialist
Ain Accountant and BAS specialist
Rin Division manager, senior accountant
Awie Accountant and BAS specialist
Mijah Accountant and BAS specialist
Faz Accountant and BAS specialist
Dea Accountant and BAS specialist
Riza Accountant and BAS specialist
Mai Accountant and BAS specialist
Zihah Accountant and BAS specialist
Azlan Accountant and BAS specialist
All the Malay team works our precis AI systems, our purpose built DocParser as well as on line Xero, MYOB, QuickBooks etc
Ange Client coordinator
Anne IT Project Manager. Tax agent, senior partner
Ben Client coordinator
Clay Junior accountant
David Accountant (speaking advice)
Emily Manager assistant, communicator
Fiona Q Client coordinator
Fiona R Credit control. Sales. Management support (dependable Fi)
Gavin CEO, Strategist, external alliances, tactician
Jake Tax team
Jay Senior accountant, tax whisperer
Jerome Tx team, senior
Kathleen Manager assistant, sales, client coordination
Luna Head of tax team, tax agent
Monique Client coordinator
Rena Senior accountant, management team, accounting strategist
Simone Company Manager (Australia, Malaysia)
Tyson Junior accountant
John Contractor who has built our Cruncher Systems and other great stuff
Tam Cruncher Systems Vietnam Manager
Van Senior accountant
Tina Bookkeeper Leader
Jinn Account Manager
Matt Project Manager
Dylan Backend Developer
Sam Backend Developer
Kay Frontend Developer
Alice Frontend Developer
Billy Mobile Developer
Whats your question.
About tax, profit, growing or rationalizing a business, changing directions, what to charge, staff and payroll, or whether you should have subcontractors.
About structure and planning for tax, about planning the future, bringing the kids on or opening another branch.
Fresh Numbers can give you all that advice and support by reading the accounts and listening to you.
Just think of the thousands of questions we have answered over the years.
And there are other things we do.
Negotiate Tax debt, have think tank and strategy meetings, and help put together a case for you to get a better finance deal. Listen to your crazy plans, believe in you, and help you make them happen.
Fresh Numbers is here with a FRESH approach to accounting.
Copyright 2023 Fresh Number Pty Ltd.
LEVEL 1 42-44 NEW STREET RINGWOOD, VICTORIA, 3134 Australia