Accounting & Tax

The best way to choose an accountant is to start having conversations about accountants. Chat to fellow business owners to find out about their accountant, meet new people at networking events, or start approaching accounting firms.
Some things you should consider when selecting your accountant:

• Size of their accounting business: There is a misconception that accountants from big firms are better, but like all things, there are pros and cons to both. Their experience is more important than the number of employees in the firm.
• Accessibility: It’s important to make sure you always have a point to contact to answer any queries you have in a timely manner. At Carbon, we have a large team of accountants, who are supported by client liaison managers to ensure all queries can be dealt with in times when accountants are in meetings. We also use online accounting software with a dedicated client portal that will give you access to your account data anytime, on any device, in any location.
• Experience: How long as the accountant been successfully operating?
• Qualifications: Aside from tertiary qualifications in accounting and tax (which are the bare minimum), you should look for an accountant who has developed their skills by gaining either a CA (Chartered Accountant) or CPA (Certified Practicing Accountant).
• Cost: The price of an accountant can vary significantly depending on what services you require. It’s a good idea to canvas a few accountants to get an idea of pricing for what you need. Don’t always go for the cheapest; the advice and work done by an accountant can have a huge effect on the performance of your business.
• Personality: Seek an accountant with whom you can develop a great relationship. You’ll be working closely, and communicating often, so you need to find the best fit for you.

Xero is a game changer within the accounting and bookkeeping software space and looks to create efficiencies where older, dated accounting packages have failed to deliver. However, once the resistance to change subsides users will see a vast improvement on the processes with this accounting package.

Advantages such as:

• Real time profit and loss and balance sheet.
• Accessibility from any device that has internet – unlike older packages which require you to be in front of a computer.
• Invoicing and Bank reconciliations from the palm of your hand.

Xero also provides a tremendous amount of support.

If your queries cannot be answered on this page, please contact us.

Our office is one of a handful of platinum partners within Australia, so we are best placed to help you with any of your Xero accounting queries.