Come to brainstorm your new business,
stay for the therapy session

Starting a Business

We love meeting aspiring entrepreneurs at RWK Accountancy. It’s our favourite thing.
We love working with motivated, creative and hardworking people who have a genuine desire to succeed.

We love hearing about your business ideas and goals. Your success is our success, and
we are here to put the financial and taxation requirements in place to ensure your business thrives.

What can RWK Accountancy assist you with?

Business structure advice

Structure your way to success.

Choosing the right structure for your business is one or the first important decisions you need to make on your business journey to get it right.

You need consider the size and type of business, your personal circumstances and how much you plan to grow your business. The most commonly used structures in Australia are sole trader, partnership, company and trust.

There are advantage and disadvantages to each and it’s important to check all the details thoroughly, as business structure will affect;

  • the tax you are liable to pay
  • your business income
  • asset protection
  • ongoing costs

Not sure where to start?

Here’s a handy tool from the ATO that can help you decide:

RWK can help

Book an appointment to start your journey

Basic Budgeting

Without concise budgeting, you’ll lose your way.

Starting a business without budgeting, is like starting a road trip to a foreign country without Google maps. Confusing and a little stressful.

Don’t think of budgeting as a chore, think of it as the directions to the treasure chest (or succeeding, as we like to call it!).  A good budget gives you insights into spending and profitability. It shows you what sales you need cover your costs, how much money you can reinvest in the business, and when you can afford to hire help.

Setting a business budget requires need good numbers, accurate numbers.

You don’t want to run your business from a hand-written map written on the back of a soggy coaster, you need whiz bang, up to date information that will allow you to continue to make good business choices.

RWK’s advice to business is to take the time to understand your accounts and dig out the real figures. The real cost of running your business.

We know it might sound like hard work, but that’s what we are here for!

The time you invest into good budgeting will make your journey to success a more direct one, rather than one where you find yourself miles off course, in the business wilderness.

Business Goal Setting

Stuck in a rut? Perhaps it’s time for a fresh set of eyes on your business?

Setting goals for your business gives direction, motivation and a clear way to measure progress. Ask yourself, how comprehensive are your business goals? Do you have time to revise them, or are you just too busy working?

RWK Accountancy can review and help reset your existing business goals, ensuring they are SMART -
specific, measurable, attainable, relevant and timely.

SMART goals will break your big picture down to achievable small pieces, which align to your daily activities for functionality and accounting methods for measurability.

When you feel like you're achieving, you start to build momentum and confidence in yourself, and with steady and purposeful progress, you will reach your destination, and that’s what we want for our Clients.

Tax Obligations

So many tax obligations, so little time.

Fortunately for you, RWK Accountancy know this stuff inside out and can assist you to ensure you meet all the obligations that our mates at the Australian Tax Office require of you. 

We can help you register for a Tax File Number (TFN), Australian Business Number (ABN), Goods and Services Tax, Pay As You Go withholding and Fringe Benefits Tax. You may also be eligible to receive small business entity concessions.

If you run a home-based business there are also specific tax issues you should know about, including what expenses you can claim and whether you have to pay capital gains tax if you sell your home.

Bookkeeping, Record Keeping & Xero

Tired of the shoebox and spreadsheet method?

If your book keeping and record keeping system involves a few lever arch folders and series of numbered shoe boxes, it’s probably time to sort it out.

Did you know that there are requirements you must meet regarding invoicing and other paperwork as well as compliance obligations with your tax and BAS - regardless of how big or small your business is?

The benefits of sorting out your book keeping and record keeping are endless, most importantly implementing good bookkeeping and record keeping will give you a very clear picture of your businesses financial position at all times. #Winning.

RWK Accountancy can get you started, get you organised and get you loving your bookkeeping and record keeping obligations using cloud-based accounting software system.

Gather your shoe box and make an appointment to see us today!

Xero Set Up

Xero tell us they “work hard while keeping things simple” and we tend to agree.

The Secret to starting a Business

If your goal is to run your business efficiently or grow your business (and let’s face it, whose isn’t!), Xero’s cloud-based accounting software helps run your payroll and invoicing and show you your cash position at the tap of a button. It could not be simpler.

The bonus of using this terrific accounting software is that RWK Accountancy are REALLY good at guiding businesses through the Xero set up process. Not just good, really good.

We’ll guide you through all the ins and outs of this super simple accounting platform, from invoicing and quoting templates, bank reconciliation, inventory management, purchase orders, expense management and payroll.

We’ll help you to set it all up and give you free unlimited ongoing training and support when you need it.

Contact Us

Grab your shoe box and talk to RWK about taking those first steps

Congratulations on taking the first step to start your own business!

For Xero's free pdf checklist on what you need to work out click here.

Start your Business
pdf checklist
Start your Business pdf checklist