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Business Accounting

Business Accounting

Thinking of setting up a business?

Start Fresh Accounting can assist you when deciding on the suitable structure when thinking of setting up a business. Have you thought about the tax implications, asset protection and administration processes? Start Fresh Accounting can help you comprehend the advantages and disadvantages of becoming a sole trader, partnership, company or trust.

Start Fresh Accounting can provide advice for every stage of your business. Whether it’s reporting to the Australian Taxation Office or your business is struggling with cashflow and you require assistance with budgeting. Small business owners tend to wear many hats, resulting in many small businesses failing within a few years. It’s important to set your business apart from the competition early on. Keep your eye on the goal, rather than try and control everything yourself and at times with little accounting skills, knowledge and support.

Virtual CFO

Start Fresh Accounting is passionate about Accounting for Small Businesses and goes far beyond Taxation compliance. We become your dedicated ‘Virtual CFO” by giving you proactive advice in all stages of business. We can monitor your expenses, help reduce costs and increase profits.

Offering more than typical tax preparation and basic bookkeeping. Start Fresh Accounting utilise cloud technologies to open the door to state of the art applications allowing our clients to new opportunities, based on decisions and projections with their real-time reporting, whether it based on cashflow and or inventory.

Partnering with Start Fresh Accounting as your Virtual CFO, you will gain experience and knowledge without the expense of a fulltime Chief Financial Officer.

Start Fresh Accounting can assist you with all types of business reporting including;

  • Business Activity Statements,
  • End of year accounts
  • Financial Statements
  • PAYG Summaries
  • Key Performance Indicators
  • Industry Benchmarks

Business Tax Returns

It doesn’t matter whether your business is a Sole Trader, Partnership, Trust or Company, you need to lodge an income tax return to the ATO.

Depending on the structure chosen, the obligations such as how to lodge, what to lodge and when to lodge differ.

Small Business Checklist:

The following information is required to prepare your tax returns;


  • Gross receipts from sales or services
  • Sales records
  • Inventory – stocktake for end of year
  • Returns & Allowance
  • Other income

Other Documents:

  • Bank Statements
  • Loan Statements
  • Hire Purchase Documents
  • Records kept – MYOB File, Wage Book, Receipt Book, Invoice Book
  • PAYG Payment Summaries prepared or incomplete for employees
  • Annual Taxable Reportable form if in building and construction industry


  • Advertising and promotion
  • Travel expenses
  • Motor Vehicle Expenses – logbook
  • Internet
  • Telephone
  • Commissions
  • Subcontractors – if you are in the construction and building industry you must provide details of each subcontractor
  • Assets purchased including Hire Purchase documents
  • Business Insurance
  • Interest expense
  • Legal Fees
  • Bank Fees
  • Office supplies – stationary, office equipment, printing
  • Rent expense
  • Home office – based on the amount of time spent
  • Wages paid to employees
  • Other business related expense
  • Repairs & maintenance