Looking for Help with Financial Management?
We at Foresight Accounting know that handling your financial and tax matters can be overwhelming. From managing your personal tax return to making informed investment decisions, running a business, or preparing for the future, making the right financial choices is vital.
At Foresight Accounting, our committed team of tax accountants is here to give you the experienced guidance you need to make smart decisions that support your lifestyle, investments, and long-term ambitions. With an emphasis on tailoring solutions to your specific needs, we seek to maximise your return on investment while minimising your tax obligations. Offering a cost-effective, personal service, we provide everything from personal tax advice to business tax and accounting services, always prioritising your goals.
Business Accounting Services Prahran
Our accountants in Prahran take pride in offering a comprehensive suite of business solutions, customised to meet your specific goals and needs. We collaborate with small and medium business owners from various sectors, including entrepreneurs, start-ups, hair and beauty, medical, property investors, trades, and more, delivering innovative solutions to ensure your business flourishes.
Small Business Accountants
We understand the commitment and personal investment you devote to your small business, and the unique challenges that come with it. When you collaborate with us, you have a dedicated partner who always has your best interests at heart. We can take care of the financial aspects of small businesses, such as payroll, invoicing, superannuation, financial statements, business tax deductions, and more, allowing you to focus on what is most important to you.
Bookkeeping
We deliver a wide array of bookkeeping services tailored to meet your business needs. While we prefer using Xero for its accessibility and ease of use, we also support MYOB, QuickBooks, and other cloud accounting software. Our bookkeeping services include preparing profit and loss reports, handling employee payroll and tax services, performing financial analysis, and more to help you accomplish your business and financial goals.
Business Advisory Services
If you are acquiring, selling, or merging your company, or facing challenges in your business performance, our expert team can provide strategic business advice. We can assist with cash flow issues, mergers and joint ventures, asset protection, restructuring business loans, business valuations, budgeting, business plans, and more.
Tax Accountant Services
We offer tax and advisory services to small and medium-sized businesses across various industries in order to minimise tax and ensure compliance. We can also provide advice on the establishment of tax structures and which ones may be best for you. Our team of tax specialists at Foresight Accounting undertake extensive professional development so you receive relevant and accurate GST and tax compliance advice.
Financial Planning Services
Our affiliate partner, Foresight Wealth, is well-equipped to provide guidance in financial planning and financial reporting. We can help you handle all aspects of your financial planning needs, including investments, wealth protection and insurance, retirement savings, and estate planning.
Self Managed Super Funds
Our self managed super fund (SMSF) services help you to establish your fund, obtain an ABN and Tax File Number, and create unit trusts. We also provide advice on what your trustees’ obligations are and how to stick to the rules, along with how you can draw from your fund in retirement.
The Advantages of Partnering with an Experienced Accounting Firm
Accounting Expertise You Can Trust
Engaging a professional accountant provides you with direct access to expertise in financial management, tax regulations, and strategic planning. We can assist you in maintaining accurate bookkeeping, maximising tax savings, and offering valuable insights to enhance your financial standing and growth.
Strategic Growth for Your Business
Our accountants can help your business grow by providing financial expertise, analysing your financial data, identifying opportunities for cost savings and revenue generation, creating strategic financial plans, offering guidance on tax planning, and ensuring compliance. These allow you to make informed decisions and focus on strategic growth initiatives.
Complete Peace of Mind
We know that managing your financial affairs can sometimes be overwhelming and confusing. With an experienced accountant by your side, you can rest easy knowing that your income, tax, super, and investments are managed effectively. Our mission is to help you meet your financial obligations and make the best decisions for your financial health.
Frequently Asked Questions
What are the costs associated with business accounting?
The cost of accounting services for businesses can vary depending on the complexity of your financial needs, the size of your business, and the specific services you require. It’s best to consult directly with an accounting firm like ours to discuss your business needs and obtain a personalised quote for the services you need.
How do I transition from my current accountant to a new one?
To switch accountants, follow these steps:
- Inform your current accountant about your decision and request any necessary documents or information.
- Research and find a new accountant that suits your business needs.
- Give your new accountant the needed details and authorise them to liaise with your previous accountant for a smooth transition.
- Ensure all essential financial records and documents are transferred securely.
- Share any specific requirements or expectations with your new accountant to guarantee a seamless transition and continued service.
Why do small businesses, sole traders, or start-ups need a business accountant?
Managing your own accounts as a small business owner can swiftly become complicated and daunting. A professional small business accountant can help you monitor your business' finances and guide you towards achieving your financial objectives.
What should I consider when choosing an accountant for my business?
Selecting the right accountant involves thoughtful consideration. Consider the accountant's location, how the workload will be divided, and the type of accounting software you'll use. Ensure you select a certified or chartered accountant and find one with experience relevant to your business. Your business and social networks can also provide recommendations for the right firm or accountant.
Should I hire an accountant or a bookkeeper?
Bookkeepers can help manage your payroll, maintain daily records, issue and follow up on invoices, and record and reconcile transactions. If you need help with daily transactions or several times a month, bookkeeping services are essential. On the other hand, if you need a variety of business accounting services and advice, an accountant could be the better choice.
Why Choose Us?
Comprehensive Industry Experience
Our firm director, Lawrie Carrozza, is more than just an accountant; he is also a business builder, entrepreneur, and property developer. He has owned and managed a diverse array of companies both in Australia and internationally, bringing extensive experience with the financial needs of various businesses.
Ethical and Transparent
We care for our valued clients by building strong, long-term relationships. Our fees are honest and itemised, so there are no surprises. We communicate effectively and don't charge for queries or phone calls. And best of all, we're approachable and friendly, often discussing your business over a coffee.
Active Support
We are proactive in looking for ways to improve your business' tax position and finances, and help our clients achieve business growth/profitability. In fact, we pride ourselves on being the most innovative and proactive accounting firm in Australia.
Client Testimonials
We have known and used the services of Lawrie Carrozza and his team for over 20 years. We could not have grown our business without their expertise and highly recommend their services to both business and personal requirements.
I have used Lawrie & his team for one year now. I have found them to be very professional and very knowledgeable, would definitely recommend them.
We've been using Lawrie & his team since 2006. We attribute a large part of our success to their professionalism and thorough business knowledge. Their advice and guidance has been instrumental in our business growth and has taken the guesswork out of investment when planning for our family’s future.
Book Your Obligation Free Accounting Consultation
Whatever your financial needs or position may be, we have the foresight and insight to support you in achieving your financial goals. Our team offers extensive experience and knowledge, combined with a sincere commitment to providing personalised accounting solutions.
Trust Foresight Accounting to handle your financial needs with professionalism and industry-specific knowledge, and book an appointment today.
Visit us in Prahran
FREE NO OBLIGATION CONSULTATION
Phone 1300 120 220 or book online to reserve your space!
