Services

Turn the hours you spend on your accounts into minutes!

Everyone wants to run their business smarter and faster. Cloud accounting software is no longer an option but an essential requirement for a modern business.

Working in the cloud will give you a better overview of your business management, and improve collaboration with your customers, team members and accountants.

What is ‘the cloud’?

The cloud is a platform used to make data and software accessible online anytime, anywhere, from any device at your fingertips. Think about when you use internet banking. Every time you access this information, you’re using a cloud based data base.

Problems with accounting software that is not in cloud

• The data in the system isn’t up to date and neither is the software.
• It only works on one computer and data bounces from place to place. For example, on a USB drive. This is not secure or reliable.
• Only one person has user access. Key people can't access financial and customer details.
• It's costly and complicated to keep backups (if done at all).
• It's expensive, difficult and time consuming to upgrade the software.
• Customer support is expensive and slow.

Why the cloud and accounting software are the perfect match

You can use cloud-based software from any device with an internet connection. Online accounting means business owners stay connected to their data and their accountants. The software can integrate with a whole ecosystem of add-ons. It’s scalable, cost effective and easy to use.

In the cloud, there’s no need to install and run applications over a desktop computer. Instead, you pay for the software by monthly subscription.

Modern business demands up to date accurate financial information.

We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.

We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

Talk to us today on (02) 8712 6838 or email us your details for further information on Cloud Accounting!

At Syed Partners we offer a full range of taxation services. Our taxation consulting division can offer advice based on proven knowledge and experience. Our proactive approach ensures we deliver a consistent service and build solid relationships which stand the test of time.

Taxation can be a major cost to your business. We will work in partnership with you to minimise your tax and help you achieve your key objectives.

We provide a complete service of help and advice in all of the following areas:

• Income Tax
• Business Activity Statements (BAS).
• Goods and Services Tax (GST).
• Fringe Benefit Tax (FBT).
• Capital Gains Tax.
• Tax effective structures for asset protection.
• Proactive tax planning advice and tax minimisation.
• Management of ATO audits and disputes.

Talk to us today on (02) 8712 6838 or email us your details for a FREE Consultation!

We have years of experience not only in advisory functions but also in business operations. If it is not economical for you to have a full time qualified CFO (Chief Financial Officer)/FC (Financial Contoller) - we can help you to fill in the gap in your management. Our qualified people are available to come down to your premises to perform the functions of CFO/FC.

Why do you need CFO support?

• If you are frustrated communicating back and forth with lenders or it is too difficult to comply with your loan covenants we can liaise with them and prepare documents that satisfy their requirements.
• We can prepare budget/forecast, projected balance sheet and projected income statements to supply to your lenders.
• We can prepare cost-benefit analysis, SWOT, NPV/IRR analysis ratios and other future oriented analysis and presentations to determine the viability of any capital investments.
• We can help you to maintain statutory/ASIC records/minutes and their associated tasks.
• We can liaise with your auditors and prepare reports/reconciliations that allow for the smooth running of the audit process and minimisation of its costs.

Talk to us today on (02) 8712 6838 or email us your details to see how we can help you in bringing efficiency in your business.

Did you know that you can manage your own superfund through a Self Managed Super Fund (SMSF)?

Self Managed Superannuation Funds have fast become one of the most popular superannuation vehicles, with more and more people wanting to have more control over their superannuation and where it is invested. Adding to their popularity has been changes to legislation in recent years which allows a SMSF to borrow money to acquire properties.

Talk to us today on (02) 8712 6838 or email us your details to explore how you can save tax and build your retirement savings.

Depending on the size and nature of your business our expert team members can guide you to choose the right accounting software that is best suited for your organisation.

We will also configure and customise chart of accounts, various templates, dashboards etc as required by your business to allow for improving efficiency in its day-to-day operations.

We regularly host training in various accounting softwares including Xero, Quickbooks, MYOB etc. Our trainings are customised for groups as well as individual needs.

Talk to us today on (02) 8712 6838 or email us your details to explore the best bookkeeping, accounting and payroll software for you.

Internal audit helps an organisation in:

• Compliance requirements.
• Find our loopholes.
• Improve transparency.
• Enhance accountability.

Talk to us today on (02) 8712 6838 or email us your details to explore how internal audit and system review can improve internal controls and transparency in your business.

Business Start-up

Let us help you turn your business idea into a reality.

If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:

• Decide on the most suitable structure for your business - sole trader, partnership, family trust, unit trust, self-managed superannuation fund (SMSF) or a limited company.
• Prepare a business plan, cash flow projections, budgets, and trading forecasts.
• Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals.
• Establish a good working relationship with your bank.
• Register for an Australian Business Number (ABN) and Goods and Services Tax (GST) with the ATO.
• Complete company or business name registration procedures with Australian Securities and Investments Commission (ASIC).
• Deal with company secretarial issues.
• Set up a recording system for your internal use and for complying with statutory requirements.

Company

Company legislation requires businesses to perform many administration tasks that take up a lot of valuable time. The last thing you need as a business owner is to be stressed out trying to ensure you are complying with Corporate Laws.

The possible threat of penalties for failing to keep up with the changing rules is too great a risk to take.

At Syed Partners we are able to relieve this burden for you. Our services include:

• General advice on company law.
• Company formations.
• Filing of annual returns on your behalf.
• Preparation of all documentation related to minutes and resolutions.
• Maintenance of statutory books.
• Assistance in changes of directors, shareholders, addresses, and office details.
• Share transfers.
• Registered office facility.

Trusts

A trust provides a valuable way of protecting the assets you have accumulated for the benefit of others. It is also a popular tax planning vehicle.

We have extensive experience and we are able to offer specialist advice on Trust formation, ensuring that all statutory requirements are met. Obligations for trustees can often be onerous, and our assistance in Trust administration will also be invaluable. We are able to:

• Set up appropriate trust for you.
• Attend to the special requirements involved in reporting for Trusts.
• Trust administration.
• Minute keeping service.
• Annual accounts.
• Taxation.
• Asset management.
• Investment monitoring.
• Income distribution.

Acquisitions and Mergers

There are many scenarios in which you might wish to attain a business enterprise. Whatever the situation, we are able to take the stress out and maximise the opportunity for you.

Whether you are considering buying a business or merging with another business, we have the experience and the expertise you need. We ask the right questions, and find the necessary answers.

Are you getting a good deal? Is the business right for you? Can you afford it? Have all avenues for future growth been investigated?

The services we provide incorporate every stage of the process. This includes:

• A review of your goals and objectives<./li>
• Due diligence services.
• Preparation of financial forecasts.
• Advice on potential pitfalls and rewards involved in a merger.
• Assistance with purchase negotiations.
• Advice on financing.
• Assistance with preparation of a business plan.

Calling on the skills of professionals means you will be far less likely to purchase an unsuitable business. Let Syed Partners show you how our experience can save you from stress, and provide you with the great opportunity a business acquisition or merger can be.

Benchmarking

Have you ever wondered how your business performs compared to your competitors? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? What is the average bottom line of your competitors?

Survival in today's business climate requires you to spend more time working on your business rather than in the business.

We can provide you with accurate, timely and informative benchmarking reports - allowing you to:

• See how your business compares against your competitors.
• Understand how the rest of your industry works.
• Analyse the key performance indicators of your industry.
• Armed with this information, we'll work with you to develop action strategies to improve your bottom line.

Business Plan

A business plan is a documented set of business goals, objectives, target market information and financial forecasts that you are aiming to achieve over a certain period of time. It is important to prepare a business plan when starting or growing your business and review it regularly to keep it up to date.

A good business plan can help you secure finance, define the direction of your business and create strategies to achieve your goals.

We have developed a Business Plan Template and Guide to step you through the process of developing a business plan that is solid, well-structured and tailored to your business.

Budgeting & Forecasting

• A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure your performance.
• In addition to goal setting value, budgets will often improve your chances of acquiring funding. Financers often require budgets as a prerequisite for funding approval.
• The techniques we utilize in the formation of financial projections will allow you to consider future scenarios and give you goals to strive for in your business. There are many types of budgets and we can help you design the right budget for your needs and requirements.
• Let us show you how a budget is able to provide feedback to allow you to prepare for the future of your business.

Selling a Business

Selling a business can be a difficult, often disheartening time. In this state the tasks involved in selling a business can seem particularly arduous. Here at Syed Partners we are able to relieve that stress for you.

The services we provide in relation to organising the selling of a business include:

• Obtaining comparative results.
• Establishing a realistic sale price.
• Our friendly and professional staff are able to assist in such a way that a maximum return for your business can be achieved.

Asset protection & Succession Planning

In ensuring the long term success of your business, it is critical to establish a well-designed succession plan. Coordination of the transition of your business to your successors can be an arduous process. However, with our years of experience we can address the complex issues of business continuation, taking the stress off your shoulders.

Strategic Planning

The pressures of daily business can often mean strategic planning takes a back seat - but to have a successful business you must plan ahead.

We'll help you establish a strategic plan that looks at where you want your business to be in the next 3-5 years and exactly how you and your team can achieve these aims and objectives.

Your strategic plan will:

• Define the characteristics of your company in three to five years.
• Identify your competitors.
• Define your objectives and financial goals.
• Put in place an effective implementation plan to achieve your goals.
• Set up and monitor KPIs to access periodic achievement compared to the goals.

Valuations

• An independent valuation provides you with answers to the questions you often need to ask about the value of a business or property. Am I getting the best price for the sale of my business? Is the asking price too much?
• We are trained and experienced in business valuations and are able to provide you with simple guidelines for evaluating the worth of a business.