Frequently Asked Questions
What does a small business accountant do?
A small business accountant assists with taxation, bookkeeping, BAS, payroll, financial reporting and business advisory services to help businesses remain compliant and profitable.
When should I hire a small business accountant?
Ideally when starting your business. Early advice can help you choose the right business structure, register for GST if required and establish good financial systems.
Can you help with Xero?
Yes. We support Xero, MYOB and QuickBooks.
What business structures can you help with?
We assist businesses operating as: Sole Traders, Partnerships, Companies and Trusts.
We can also advise on the most suitable structure if you’re starting a new business.
Do you prepare Business Activity Statements (BAS)?
Yes. We prepare and lodge monthly and quarterly BAS, IAS, GST and PAYG obligations accurately and on time to help your business remain compliant with the ATO.
Can you manage my bookkeeping?
Absolutely. We offer professional bookkeeping services including bank reconciliations, accounts payable, accounts receivable, payroll processing and monthly financial reporting.
Can you help if I'm starting a new business?
Yes. We assist new businesses with:
- Business structure advice
- ABN registration
- GST registration
- Bookkeeping setup
- Accounting software setup
- Tax planning
- Ongoing accounting support
What records should small businesses keep?
Small businesses should maintain accurate records of:
- Income
- Business expenses
- Tax invoices
- Payroll records
- Bank statements
- Asset purchases
- Superannuation contributions
Good record keeping helps ensure accurate financial reporting and ATO compliance.
Do you work with sole traders?
Yes. We work with many sole traders across a wide range of industries, helping them manage tax obligations, bookkeeping, BAS and business growth.
Do you work with businesses outside Melbourne?
Yes. Although we are based in Melbourne, we work with clients throughout Australia using secure cloud accounting software, phone consultations and Zoom meetings.
How do I get started?
Getting started is easy. Simply contact Tax File Accounting to arrange an initial consultation. We’ll discuss your business, understand your goals and recommend accounting solutions tailored to your needs.
Do you work with businesses outside Melbourne?
Yes. Although we are based in Melbourne, we work with clients throughout Australia using secure cloud accounting software, phone consultations and Zoom meetings.