As we step into another month filled with opportunities and challenges, we at The Accountants are excited to bring you the latest edition of our newsletter, designed with your business’s success in mind. Our commitment to not just meeting, but exceeding your accounting needs, drives us to keep you informed, prepared, and ahead of the curve.

In the dynamic world of business finance, staying updated is not just an advantage; it’s a necessity. That’s why we’re here to sift through the numbers, trends, and regulations, bringing you the most relevant updates and insights. Whether you’re navigating tax changes, looking for efficiency in your operations, or planning your next big growth move, we’re with you every step of the way.

This month, we’ve packed our newsletter with actionable tips, critical tax deadlines, and strategic advice tailored for businesses like yours. Our aim? To empower you with knowledge and tools that drive decision-making and foster sustainable growth.

Remember, at The Accountants, we believe in building partnerships that go beyond the balance sheet. We’re not just your accountants; we’re your advisors, strategists, and supporters, committed to seeing you thrive.

So, let’s dive in and explore what this month has in store. Together, we’ll turn challenges into opportunities and aspirations into achievements.

Warmest regards,

Valerie, General Manager

The Accountants

New name and merger of the firms

We are excited to share significant news about the evolution of our firm. In our continuous pursuit to enhance our services and streamline our operations for your benefit, we have decided to merge our three offices into one brand undergo a name change. This strategic move is designed to consolidate our strengths, resources, and expertise under one roof, offering you a more cohesive and efficient service experience.

We are retiring the Bryant and Associates, Anne Hunter and Associates and Vault Business Names and consolidating them into one Brand, The Accountants.

Our New Name

New Name: We are thrilled to introduce our new firm’s name, The Accountants, which reflects our unified approach to providing comprehensive accounting, tax, and business advisory services. This change symbolises our commitment to growth, innovation, and the deepening of our relationship with you, our valued clients.

Benefits of This Change
  • Streamlined Services: By merging our brands we can create a more streamlined service model. This efficiency will directly benefit you through quicker response times and a more cohesive service experience. Our old emails continue to work but we will be transitioning to domain.
  • Enhanced Expertise: The consolidation allows us to pool our expertise and resources, providing you with access to a broader range of specialists under one roof. Whether you need tax advice, financial planning, or business consulting, our team is equipped to meet your needs more effectively.
  • Advanced Technology: Our new location is equipped with the latest in accounting and financial technology, enabling us to offer you more innovative solutions and insights into your financial health.
  • Simplified Communication: With one central brand, contacting us and scheduling meetings becomes more straightforward. This change aims to enhance our communication and ensure that you always know where to find us. We are rolling out a chatbot functionality on our website which is operated by our administration team. We are also rolling out Teams communication windows with your tax agent to provide direct contact during the tax season.
What This Means for You

Our commitment to your success and satisfaction remains our top priority. As we transition to The Accountants, we want to assure you that there will be no disruption to the services you have come to expect from us. Our team remains dedicated to your account, ready to assist with the same level of professionalism and personal attention you’ve always known.

We have settled on a team of Australian based accountants, Bernadette, Mimi, Sam and Mary and are ably supported by our administration team.

Looking Forward

We view this change as a step forward in our journey together. It represents not just a change in name, but our renewal of commitment to providing exceptional service and value. We’re excited about the future and the opportunities this consolidation offers both our firm and, more importantly, our clients.

Thank you for your continued trust and support. We look forward to serving you as The Accountants and embarking on this exciting new chapter together.

Our new website

We have launched a new website the website has a meeting booking function and a chat facility which is manned by one of the team. Thank you to Nate for a massive amount of work to get the site up and running.

Basics of Business Planning, Cash Flow Improvement and complimentary Fathom Reporting

In the dynamic world of business, understanding the basics and maintaining a healthy cash flow are pivotal for sustainability and growth. As business owners, mastering these fundamentals can significantly influence your company’s success trajectory. This article delves into essential business basics, strategies for improving cash flow, and introduces how our services, particularly through Fathom reporting, can play a crucial role in achieving your business objectives.

Business Basics: Foundation for Success

The foundation of a successful business lies in a solid understanding of its basics: clear business planning, understanding market demand, efficient operations, and financial management. Each element plays a critical role in steering your business towards its goals.

  • Clear Business Planning: A comprehensive business plan outlines your business goals, strategies, potential challenges, and the approaches to overcome them. It’s a roadmap that guides your decisions and helps keep your business on track.
  • Understanding Market Demand: Knowing your market and customer needs is crucial. Continuous market research helps you stay ahead of trends and adapt your products or services accordingly.
  • Efficient Operations: Streamlining your operations to maximise efficiency and minimise costs without compromising quality can significantly impact your profitability.
  • Financial Management: Effective management of your finances, including budgeting, monitoring expenses, and making informed financial decisions, is essential for your business’s health and growth.
Improving Cash Flow: Strategies for Success

Cash flow is the lifeblood of your business, representing the amount of money flowing in and out of your business at any given time. Positive cash flow ensures that your business can meet its obligations and invest in growth opportunities. Here are strategies to improve your cash flow:

  • Invoice Promptly and Follow Up: Efficient invoicing and timely follow-up on receivables accelerate cash inflow, reducing the cash conversion cycle.
  • Manage Your Payables: While maintaining good relationships with suppliers, negotiate favourable payment terms to keep cash longer in your business.
  • Inventory Management: Optimise inventory levels to avoid tying up too much cash in stock while ensuring you can meet customer demand.
  • Expense Control: Regularly review and control your expenses. Eliminate unnecessary costs and seek ways to reduce operating expenses without affecting your business operations.
  • Access to Funding: Establish lines of credit or explore financing options before you need them. This preparation can be invaluable in managing cash flow dips and funding growth initiatives.

How We Can Help: Fathom Reporting

Understanding your financial position and performance is crucial for effective decision-making. This is where our services, particularly in providing Fathom Reporting, become invaluable. Fathom is a powerful financial analysis and reporting tool that offers deep insights into your business’s financial health.

Benefits of Fathom Reporting
  • Comprehensive Analysis: Fathom transforms your financial data into actionable insights, helping you understand your profitability, cash flow, and key performance indicators (KPIs).
  • Customisable Reports: Tailor reports to focus on what matters most to your business, enabling you to make informed decisions quickly.
  • Forecasting: Fathom’s forecasting capabilities allow you to model different financial scenarios and plan for the future with greater confidence.
  • Benchmarking: Compare your business performance against industry benchmarks to identify areas of improvement and opportunities for growth.
Engage Us for Expert Support

Engaging with us for Fathom reporting and financial advisory services means partnering with experts who are committed to your business’s success. We can help you navigate the complexities of financial management, provide insights for improvement, and support you in making strategic decisions to enhance your cash flow and grow your business.

Mastering business basics and maintaining a healthy cash flow are crucial for the success and growth of your business. With our expertise and tools like Fathom reporting, you have access to the insights and support needed to thrive in today’s competitive business landscape. Let’s work together to build a stronger, more resilient business.

We will be rolling out Fathom Reporting to our business clients over the next three months as part of our standard business offering. We will be in touch with you to organise a fathom training session and to run through our Fathom Report. Expect a call from the Team to organise a convenient time.

Getting your 2023 work completed

As we reach the end of the 2023 lodgment window, it’s crucial to stay ahead of your tax obligations to ensure a smooth and stress-free process when it comes to lodging your tax return. With the end of the financial year approaching, we encourage you to start preparing and gathering your documents now. Embracing digital delivery methods can streamline this process significantly, ensuring that your work is completed and lodged on time. Here’s how you can get started and make the most of digital solutions for a hassle-free tax season.

Start Now

Begin by collecting all necessary documents related to income, deductions, and any tax-related transactions over the past financial year. The sooner you start, the more time you have to ensure nothing is missed and to address any complexities that may arise.

Embrace Digital Delivery

Digital delivery of documents and information has become the new norm, offering convenience, efficiency, and security. As your tax agents, we are fully equipped to handle digital submissions, which can expedite the processing of your tax return.

Benefits of Digital Submission
  • Speed: Digital documents can be sent and received instantly, cutting down on the time it takes to mail physical paperwork.
  • Organisation: Digital files are easier to manage, search, and organise, reducing the likelihood of misplaced documents.
  • Security: Encrypted digital transmissions offer a higher level of security compared to traditional mail.
  • Accessibility: Digital documents can be accessed from anywhere, allowing you to submit your tax information even if you’re on the go.
  • Retention: Bunnings receipts last about 3 minutes in the sun, a photo is fine to keep the ATO happy. 
Utilise Digital Tools and Platforms

Many digital tools and platforms can assist you in gathering and organising your tax-related information. Consider using budgeting apps, cloud storage for receipts and documents, and online banking statements to compile what you need. Additionally, our firm utilises secure client portals for the safe exchange of sensitive information, ensuring your data is protected throughout the process.

2024 will be the last year that we are able to offer individual returns for those retaining paper records, if you need help organising your information digitally please contact the team.

Check and Double-Check

Before submitting your documents, take the time to review your information carefully. Ensure that all income sources are reported, and all eligible deductions are included. Accuracy is key to preventing delays or issues with your tax return.

Running Late?

We have less than four months until the end of the tax season. We will not be able to guarantee your return will be on time unless your work is in full by 31 March 2024.

How We Can Help

Our team is here to support you every step of the way. From answering your questions to providing guidance on maximising your deductions, we’re committed to making your tax lodgment process as smooth and beneficial as possible. We encourage you to take advantage of our digital delivery services, which not only streamline the process but also provide a greener, more efficient approach to managing your tax affairs.

Want to get your work in? Contact the team via the chatbot and we will organise your return, call the office 07 3012 6724 or email

Our Turnaround Times

For individual tax returns where your information is provided digitally we have a standard turnaround of three weeks. If you are providing paper based information, we expect that the turnaround time will be in excess of six weeks.

Why does it take longer to get my return completed?

If we have queries it may take longer to get your return completed, if this happens we may revise the turnaround for your return.

Getting your work completed and ensuring it is lodged on time doesn’t have to be a daunting task. By starting early, embracing digital delivery, and utilising the tools and support available, you can navigate the tax season with ease. Remember, we’re here to help, so don’t hesitate to reach out if you need assistance or have questions about preparing your tax return for 2023. Let’s make this tax season your smoothest yet.

Corporate Compliance and Messaging

If we are your Registered Agent, you may have received a short text that you have a company renewal due. This is from us, unfortunately due to text message character limits it might be a bit abrupt.

We remind you that the fines from ASIC are rarely refunded or withdrawn so it is critical to pay your renewal on time.

We are reviewing our corporate compliance package for the current year and will be in touch with company directors.

Key tax dates coming up

Staying on top of key tax dates is crucial for effective financial planning and compliance. As we move into February 2024, let’s look ahead to the key tax dates in the next three months to ensure you’re prepared and can avoid any last-minute rush. Here’s a concise guide to the important deadlines coming up from February to April 2024.

February 2024
  • 21st February: Monthly Business Activity Statement (BAS) due for January 2024. If you’re a business registered for GST, ensure your January BAS is lodged and paid by this date.
  • 28th February: The due date for the lodgement of the Taxable Payments Annual Report (TPAR) for businesses in the building and construction industry, cleaning services, courier services, and for the first time, road freight services, information technology services, and security, investigation, or surveillance services. This report details payments made to contractors during the previous financial year.
March 2024
  • 21st March: Monthly BAS due for February 2024. Keep up with your GST, PAYG withholdings, and other tax obligations by lodging your BAS on time.
  • 31st March: Superannuation Guarantee contributions for the January to March 2024 quarter must be paid to the respective funds by this date to avoid the Superannuation Guarantee Charge (SGC).
April 2024
  • 21st April: Monthly BAS due for March 2024. Ensure all relevant information for GST and other taxes are accurately reported and lodged by this date.
  • 28th April: Quarterly BAS due for the January to March 2024 quarter. This is also the deadline for lodging and paying if you’re reporting quarterly. If you use a tax agent, you may be eligible for a lodgment deferral, so it’s worth checking in with your agent.
  • 28th April: Quarterly PAYG instalment notice (Form R and T) for the January to March 2024 quarter. If you vary the instalment amount, ensure the notice is lodged by this date.
  • 28th April: Due date to report and pay the Fringe Benefits Tax (FBT) if you’re an employer who has provided fringe benefits to your employees. The FBT year ends on 31 March, so this is the time to get all your documentation in order.
Planning Ahead

Proactively managing your tax obligations means being aware of these deadlines well in advance. Here are a few tips to ensure you stay on track:

  • Keep Accurate Records: Maintain up-to-date financial records. This makes it easier to prepare and lodge any reports or returns on time.
  • Use Digital Tools: Leverage accounting software or apps to streamline your financial tracking and BAS lodgment process. If you want to discuss converting to a digital platform, reach out to the team.
  • Set Reminders: Use digital calendars or reminder systems to alert you about upcoming tax dates, giving you ample time to prepare.

Staying ahead of these key tax dates not only helps in maintaining compliance but also in managing your cash flow more effectively. If you have any questions or need assistance in preparing for these deadlines, don’t hesitate to reach out to us. Our goal is to support you in staying compliant and making the most of your financial planning efforts.

Thank you again and have a great new year.

Valerie and the Team