Why Next Level Accountants?

Why Next Level Accountants, Geelong?

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When starting a business, one of the most daunting tasks is trying to find a small business accountant that you trust and feel comfortable with, who offers the correct service for your business needs.

Where do you start? Do you dust off the old Yellow Pages (Sensis)? Do you start typing into the world wide web? If so, what do you search for? Your search will depend on how technology savvy you are. My mum would type in what she is searching for as if asking a question- literally: “Can you please tell me where I can find a decent, affordable and reliable accountant in the Geelong area with good parking”. **Queue Google adjective overload!

Uncle Herb is a bit savvier than Mum. You could expect something like “Honest, reliable, affordable, proactive, knowledgeable accountant with bookkeeping services near me” when searching for a SME accountant.

But all you need to type in “Automated SME accountant and bookkeeper Geelong”, because you will find Next Level Accountants comes up in prime position.

This search term describes the service that we provide and notably does not mention our qualities or attributes. Why? Because the qualities that both Mum and Uncle Herb were searching for are built into our process, but most importantly are naturally a part of our team. It’s part of the package.

Our CPA’s (Certified Public Accountants) provide an Always-Up-To-Date accounting service that is provided through a cloud-based, easy to use system, while maintaining the cliché qualities such as honesty and reliability. This means that all your bookkeeping and small business accounting elements are trackable, up to date (as the name suggests) and relieve the stress other Geelong small businesses experience.

The other aspect that we offer is “One Firm. One Solution.” This means we offer the whole package; bookkeeping, tax accounting, tax planning, right through to virtual chief financial officer. This allows you to have real-time profit and loss statements, financial statements sent through the day of the request and allows your bookkeeper and accountant to be on the same page consistently. To put it simply – our process saves you time and money in the long run! Go to your daughters’ netball games, watch little Timmy play cricket, or sit back and relax with your partner rather than doing your book work.

We harp on about proudly being a Geelong accounting firm. However, our cloud-based process allows us to offer second-to-none service to businesses in remote locations like Perth, Omeo, Benalla or Kununurra. We can provide video conferences, so it feels like you are sitting in the office with us – we just won’t be able to make you a coffee!

If you are wanting more reasons to jump on board with Next Level Accountants, then have a look at our Google Reviews, Yelp and Facebook reviews!

WEBINAR - The Benefits Of An Always-Up-To-Date Accounting System For Small Businesses

Small business; the definition of overwhelming. When owning a small business, you need to take into consideration the service or product you provide, the marketing, the inventory - and the financials! 

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Do you drive hours to see your accountant? Are you located in a regional town like Horsham, Omeo or Maryborough and feel your business lacks the modern benefits of a city-based accountant? Or perhaps you are simply wanting to reap the rewards with what cloud accounting offers!

Geelong’s Next Level Accountants have designed this webinar so that any local or regional business can learn about and experience the success that our cloud-based, Always-Up-To-Date process can offer.

Why use a cloud-based accountant? It’s simple:

·         Gain real-time profit and loss statements

·         Stay up to date with your financials anywhere, anytime!

·         All your data is centralised

·         Spend less time on your business’ financials and more time with your family

WHEN: Tuesday 23rd October 10:00-11:00am

WHERE: Via ZOOM (Webinar)

HOW MUCH: Free if you sign up by 30th September!

REGISTER: Click here

If you have any questions about cloud accounting, bookkeeping or our process you would like answered during the webinar, please leave a message on the Facebook event page here.

An email with details and links will be sent in the lead up to the event. 

If you have any queries, please contact us here or email Renee at renee.wilson@nextlevelaccountants.com.au. 

We hope to see you for our webinar!

Small Caps, Big Bonus!

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We have experienced a sharp increase in energy bills over the past years – Geelong businesses and households alike.

Unfortunately, replacing government-controlled systems with private companies has made the cost of energy soar. Due to energy bills eating into our budgets more than we can afford, many Australians are opting for a more eco-friendly approach; solar panels.
As of the 19th August, 2018, the Victorian State Government has agreed to spend up to $4550 per household to help homeowners afford solar panel installation. A total of $1.24 billion will be put towards this incentive. What has been labelled The Small Caps incentive, could save Victorians up to $900 per year on power bills! As ‘sensible’ accountants, we would suggest to pop this in your savings account but let’s be honest – you’re probably going to grab that jacket or boots you have been eyeing off!
Due to the Geelong housing boom, the solar panel industry has already experienced an increase in orders and installation. Each new estate, whether it be Armstrong Creek or Curlewis, looks more like a space station from above than a suburb! Using solar panels is fantastic not only for our budgets and the environment, but also for Geelong energy-providing businesses that specialize in installing and selling solar panels. If you own a Geelong solar panel business, you may see your business transform from go to WHOA due to the combination of the housing boom and the new solar panel scheme.
If you have a solar panel sales or installation business, it is important to think about how this scheme will affect your finances and processes. Can your home-bookkeeping withstand the increase in transactions? Perhaps you would like to hire employees but aren’t sure where to start with wages and super, or maybe you would like to review your tax accounting. Book an appointment with your local Geelong accountant, Next Level Accountants to have all your questions answered and plan for the future.
If you neglect to plan early on, this can cause you to be unaware of how much money to put aside to pay an income tax debt that may arise from the boom. This debt does not have to be paid until 12 months after the year finishes, however, it can potentially put you back financially and create unnecessary stress.
Once the first big tax return is lodged, and you end up with a whopping tax debt of, say, $20,000, the ATO would put you on the PAYG Instalment program. They would then request you to pay $5000 each quarter for the year that hasn’t even finished yet, which needs to be paid at the same time as your GST bill. All of this can happen even before you haven’t needed to pay that first big tax debt. 

Finances become even more complicated if you are wanting to hire new or extra employees during this time. Once you hire employees, cashflow becomes an extra stress as you are expected to pay your employees regularly along with Superannuation obligations and increased Workcover premiums. 

Next Level Accountants specialise in small business accounts, assisting SME’s to plan and prevent unexpected ATO debts and ensure that employment elements are up to date. Our services cover bookkeeping, tax accounting and VCFO for businesses around Geelong and surrounding suburbs. 

You can find frequently asked questions about the solar panel scheme here.

Superannuation – to pay or not to pay? That is the question.

Superannuation – to pay or not to pay? That is the question.

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As Geelong accountants, we encounter many sole traders such as bricklayers and carpenters wanting to know the ins and outs of paying superannuation.

“Do I need to pay superannuation?”
“Should I pay superannuation?”
“If so, how much should I pay?”
“Where do I pay super?”

It is overwhelming – so overwhelming that many Geelong sole traders opt to ignore superannuation as the law doesn’t make you pay it!

Here are the facts:
No – you don’t ‘need’ to pay superannuation to yourself as a sole trader – only to your employees.
Should you pay super? Absolutely – you should be planning for your retirement as much and as early as possible. Paying yourself super is one of the most tax-effective ways to save for retirement.

There are situations that may arise where you may need to access your saved super such as if you were to permanently injure yourself at work, preventing you from going back to work. We, at NLA, advise you to plan for these unfortunate circumstances.

There are many ways to go about paying superannuation. Some people choose self-managed super funds, others choose APRA (Australian Prudential Regulation Authority) super funds. The difference between these options is that SMSF’s are managed by beneficiaries who are responsible for complying with super and tax laws, whereas APRA funds, such as CBUS, have thousands of members and comply by law for you.

Confusing? Contact Next Level Accountants to discuss your superannuation options that will benefit your future.