Westcourt

How Inventory Management Can Improve Customer Satisfaction

Inventory management covers the enter SME process from raw materials and work-in-progress to finished goods. This process for Perth SMEs and their business accountants includes monitoring inventory levels, establishing the ideal stock quantities, and coordinating the procurement and storage of inventory for customer needs. Efficient inventory management through cloud accounting software is essential for businesses… Continue reading How Inventory Management Can Improve Customer Satisfaction

Starting a family office

The words of “family office” conjure a sense of excitement and exclusive appeal.  As Perth accountants we have been fortunate enough to come across many ultra-high net worth individuals with a private family office. We have detailed some of our common findings: Beware the advertising A family office is just actually that.  An office for… Continue reading Starting a family office

Getting ready for the end of financial year

The end of financial year is a great time for family business accountants and tax advisors.  Families and businesses across Perth are normally calling their accounting taxation and business advisors for any last minute strategies coming up to 30 June.   Your trust distribution minute is important Many accountants have created a discretionary trust.  And… Continue reading Getting ready for the end of financial year

How to avoid lodging a fringe benefits tax return

Many family businesses in Perth simply want to cut red tape.  And the act of lodging a fringe benefits tax return is simply another form that must be prepared and another cost paid to accountants that is effectively sunk money – especially when the amount of fringe benefits paid is potentially low. Motor vehicles The… Continue reading How to avoid lodging a fringe benefits tax return

10 questions to ask when choosing your accountant

Choosing an accountant can be difficult.  Cutting through technical jargon and marketing hype is a daunting process to any business owner. So we have a list of questions you can use to interview and compare between accountants. What tax leadership roles in the profession have you done in the last 12 months? Every accountant will… Continue reading 10 questions to ask when choosing your accountant

Having more in your super fund may not mean a higher income

As a kid my parents drilled home the importance of saving money for my retirement.  And logic says that is a great idea. However, the tax system and superannuation system are not fully based on logic.  Why?  Because the government aged pension actively works to reduce your income as you earn more. So the value… Continue reading Having more in your super fund may not mean a higher income

So what is a family business?

Our Perth advice business only focusses on family owned businesses.  However many of our clients do not think of themselves as a “family business”. We have defined a family business as: A business that is controlled and significantly owned by two or more members of the same family with the hope that the business legacy… Continue reading So what is a family business?

Chart of Accounts – Building a stronger business by David Hewitt

Ask yourselves a question: would you drive a car blindfolded? I sincerely hope that you answered that question with a firm no. Now ask yourself another question: how is your business going today? If you cannot answer that question with complete confidence then you are driving a car blindfolded. We have all heard the stories… Continue reading Chart of Accounts – Building a stronger business by David Hewitt

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