When it comes to Finance and your business, it can quickly become information overload and easy to ignore. This guide will briefly detail some curtail business questions you must be able to answer in order for your business to survive in the challenging world of small business, let alone thrive in it.
Business Lighthouse differentiates itself from other firms, as we not only provide standardised BAS lodgments, PAYG & Payroll services, but we also offer comprehensive business advice to small to medium businesses and can act as a sounding board for your questions and ideas.
If we look to the future, it’s estimated that the majority of bookkeeping and accounting businesses might close shop over the next 5 to 10 years due to the rapid emergence of cloud accounting and efficient AI technologies.
For accounting firms to still be relevant in five years’ time, they will need to go the extra mile and provide clients with additional support where cloud accounting software alone cannot.
A Virtual CFO (vCFO) is like having a financial expert on your board without the hassle of recruitment and payroll responsibilities.
Our vCFO services cover a spectrum of tasks that range from budgeting and forecasting to developing key performance indicators, with a focus on value creation throughout. We are flexible enough to customise any package to suit your budget and requirements, with a monthly retainer settled upon at the beginning of our services agreement.
With over four decades of experience, our senior accountants have a wealth of knowledge in running and managing finance departments for large corporations whilst also serving on several company boards themselves across Australia.
With a vCFO guiding you, your key businesses decisions won’t be made on ‘just a hunch’, but rather from expert financial advice and key numbers.
We are the accounting practice who will sit down with you and plan a strategy around minimising your tax, forecasting projected financials and prepare for future cashflow requirements.
If you currently only see your accountant once a year, then you should probably ask them why that is the case. You need your accountant to do more than just the minimum legally required work for your business.
In reality, you should have your accountant on speed dial and see them a minimum of once a quarter. At Business Lighthouse, we’re always ready to take your call.
Business Lighthouse offer a range of specialist accounting services designed to stimulate your business growth and nurture your financial future. We produce highly detailed, customisable cash-flow budgets and profitability reports that can be tailored to fit most companies and community organisations.
These impressive reports are readily received by stakeholders such as boards and investors. We also explain what they mean so they are accessible to business owners and enable strategic planning and decision making.
Our aim is to grow your business with you and keep you on track financially. If you’re looking to grow, then our team would love to meet with you to discuss your needs and to see if we could be a good match for your business moving forward.
At Business Lighthouse, we employ qualified accountants and bookkeepers who work as a cohesive team and communicate regularly with a client-first attitude. Our bookkeepers and accountants communicate on various aspects of your business throughout the year. This means a more efficient and accurate result overall.
Most small to medium businesses use separate accounting and bookkeeping firms for their respective needs. While this works in most situations, sometimes miscommunications can arise between firms about ‘how things should be done’. That’s when you run into issues that can end up costing you more in the long run.
Alternatively, you are welcome to remain with your current accountant while taking advantage of our bookkeeping services. We will work very closely with them to deliver great results for your business.
Business Lighthouse has an entire team dedicated to processing all your payroll & superannuation obligations on time, every time.
When you have employees, the last thing you want to be doing is spending your precious time on processing payroll and super. It’s a legal requirement for your business but it’s also a time consuming one.
Employees are critical to the success of your business, so accurate and timely payroll processing is key to ensuring your staff feel valued. With the recent introduction of Single Touch Payroll reporting, there has never been a more important time to ensure your payroll systems are up-to-date.
Our team is large enough to accommodate small businesses with a few employees, right up to larger organisations of up to 100 employees.
Business Lighthouse is a Gold Partner in Xero and we also specialise in several niche cloud accounting software packages such as Calxa, DEAR Inventory, Kidsoft, and BuildXact. We’ll assess your business system needs to find the best business software for your specific industry and requirements.
The major benefit of cloud accounting is that it doesn’t require any ‘on-site support’ from your accountant or bookkeeper, but rather they can work remotely or ‘on the cloud’. This allows our team to process your books and keep an eye on your financials without having to physically be at your business premises and affords you the convenience of mobile apps for quick access to reports and analysis whilst you’re on the go.
Business Lighthouse is a team of experts with superior software, expertise and experience. If your company is small and fast growing, outsourcing your high-level strategic finance roles can also give you the skills you need to take your company to the next phase of development, without hiring a full-time CFO.
Outsourcing your accounting is often cheaper, more efficient and flexible than hiring in-house staff. It leads to greater productivity, cost savings, up to date regulatory knowledge and more accurate transaction processing. It also avoids investing in space, software, skilled staff and juggling staff leave in busy periods.
|Self-Employed & Freelancers||Great for businesses in the growth phase that need accounting, invoicing or payroll|
|Subscription to Receiptbank/Hub Doc|
|Subscription to Receiptbank/Hub Doc||✔||✔||✔|
|Annual Reconciliations (Fixed Assets, ATO liabilities)|
|Liaise With Your Team|
|Liaise With Your Team||✔||✔||✔|
|Payroll (Single Touch Payroll)|
|Payroll (Single Touch Payroll))||—||1-5 Employees||5+ Employees|
|Accounts Receivable/Debtor Management|
|Accounts Receivable/Debtor Management||—||✔||✔|
|Uploading Payments for authorisation|
|Uploading Payments for authorisation||—||—||✔|
|SRO (Payroll Tax) Reporting|
|SRO (Payroll Tax) Reporting||—||—||✔|
|Fringe Benefits Tax (FBT) Reporting|
|Fringe Benefits Tax (FBT) Reporting||—||—||✔|
|Accounts Receivable management|
|Accounts Receivable management||—||—||✔|
As a market leader, we rise above the typical accounting practice to offer you more.
We look beyond ourselves and act with Integrity in business and society, supporting businesses to bring about a sustainable economy in line with a triple bottom line philosophy. Doing good for Community, Customers and the Environment is an imperative, not a choice.
With a wealth of knowledge and experience, we guide you to strengthen your business.
We are uncompromising in our focus on strengthening your business by championing, guiding and supporting growth in knowledge, integrity and confidence.
With care and commitment, we aim to be visible, part of your team, and on the business front line with you.
We are front of house partners, we have your back and work as a part of your team, with a philosophy of down to earth, friendly, straight talk.
A truly bright spark – Philip is the light bulb of our organisation. Responsible for the Accounting and Taxation division of Business Lighthouse his passion for microBoard strategic thinking has him playing a vital role in guiding our clients towards business success. Philip’s expertise in the financial management and reporting of not-for-profit organisations means he is also well sought-after.
Angela is responsible for the Bookkeeping and Business Systems division. She is an experienced accountant with over 12 years working knowledge within the business, corporate, and education and not-for-profit sectors. Angela can talk to anyone with interest and loves finding the common ground to set you at ease – she used to work with communities from diverse backgrounds and is the first to welcome a new face through the door.
Lance is a keen and enthusiastic accountant. He focuses on taxation, accounting and bookkeeping tasks and has a head and heart for start-up businesses and entrepreneurs. Lightning Lance (as he’s known around the office) is fast and efficient. He loves researching new legislation; he flies through work at productive speeds and is constantly updating us and our clients on innovative changes.
Matt (affectionately known as ‘Dubba’) is an enthusiastic accountant who is ready to help with all your Taxation, Compliance, Accounting & Bookkeeping needs. He loves helping businesses & organisations reach their full potential and is passionate about providing relevant & timely reporting to clients for planning & decision making.
Every business needs a Jennifer. She assists in bookkeeping and compliance tasks as well as being an inventory systems specialist and trainer. Jennifer has over 15 years’ experience working in the corporate sector and with small business. With a keen attention to detail –Jennifer passes on this insight and experience to our clients.
Nicky is super passionate about accurate accounts that business can rely on, but what she loves most in her job is cleaning up accounting messes! She has 13 years experience in bookkeeping. She has owned her own IT wholesale and service business so knows her way around a computer. In her spare time Nicky rides motorbikes and plays guitar and in her past life she was a DJ!
Belinda (BoB) loves working with businesses and gaining an in depth understanding of how individual businesses operate … in fact she almost loves this as much as she loves her baby grandchildren! She has owned her own wholesale business so understands the nature of inventory and the systems that support it, how software platforms connect and the information that flows between them.
Andrew loves a good puzzle and gets to encounter plenty of them in his role within our bookkeeping team. With a background in helping clients from a wide range of industries, he sees every problem your business is facing as an opportunity to exercise critical thinking and leverage the power of Xero accounting software. Away from the office, Andrew performs spoken-word poetry and cheers on his beloved Richmond Tigers.
Kam is our aspiring accountant in training as he is currently completing his Bachelor’s Degree in Business majoring in Accounting and Finance. He has a love, love relationship with excel. Kam is doing his best to contribute where he can whilst trying to pick up as much knowledge and experience that he can. He is a keen sportsman and gamer and enjoys a good chat.