Your Local Accountant in Chatswood

OFFERING A FULL SUITE OF ACCOUNTING & BOOKKEEPING SERVICES IN CHATSWOOD

Most small businesses fail within three years of their operations. Lack of financial insight, unskilled in house accountant, inadequate accounting records, no analysis of cash flow and no proper budget or forecast are some of the key reasons for these failures.

 

MYM Accounting & Business Consultancy provides a broad range of accounting & business advisory services across the Sydney region. Taking advantage of the opportunities presented by virtual services and cloud technology, we offer our services in Chatswood.

 

It is essential to ask yourself whether you have the necessary skills and experience to do your accounting and bookkeeping of your business. Also, do your staff have enough experience to perform all the accounting tasks once you scale your business? Outsourcing may offer you the possibility to hire a professional with a higher level of expertise at an affordable price.

 

As your local accountant in Chatswood, we are skilled at continuous improvement and committed to driving results. Our goal is to enhance and transform business processes to address your most pressing concerns and give you peace of mind.

 

Outsourcing accounting service helps clients in following way:

  • No problem of hiring and rehiring
  • Timely reports and control of accounts
  • Reduce accounting overhead costs
  • Professional accounting service
  • Industry knowledge
  • Use of technology for accounting

As your local accountant in Chatswood, we provide the below Accounting & Bookkeeping Packages

New Business / Start up

This package is for businesses that are 1-2 years old. Resources are tight. You are focusing all your time and effort on developing and growing your business. We help you lay the foundation of your accounting and finance function in this stage, to help you scale as you move to the next stage of your business life cycle.

Entrepreneurs & SME

At this stage, your business is a workable business entity with paying customers. Your transactions rises as you shift your focus from mere existence to increasing your revenue and finding cost efficiencies. Apart from basic bookkeeping, you will get monthly Profit & Loss and Key Performance Indicator (KPI) Reporting. As your local accountant in Chatswood, we will provide you with an experienced Chief Financial Officer (CFO), who will provide you with quarterly insights into your business and financial health.

Medium / Large Businesses

This package is ideal for companies in their growth and maturity stage. The number of transactions per month has significantly increased. Cash is becoming important. Information has become vital to your decision making. You need regular updates on your accounts to ensure that you are on top of your cash management.  Apart from day to day compliance, you get Monthly CFO advisory calls with strategic advice and direction on the health of your business.

New Business / Start ups

From $500 per month

Bank Transactions up to 100/month

Monthly Bank Reconciliations

Matching Customer Payments

Matching Supplier Payments

5 Xero / MYOB Payroll

Monthly P&L and Balance Sheet

Quarterly KPI/Performance Reporting

Entrepreneurs & SME

From $850 per month

Bank Transactions up to 200/month

Fortnightly Bank Reconciliations

Matching Customer Payments

Matching Supplier Payments

10 Xero / MYOB Payroll

Monthly P&L and Balance Sheet

Monthly KPI/Performance Reporting

QTR BAS Preparations Lodgements

Annual Tax Return & Lodgements

Financial Statements

Quarterly CFO Advisory Call

Medium / Large Businesses

From $1200 per month

Bank Transactions up to 300/month

Weekly Bank Reconciliations

Matching Customer Payments

Matching Supplier Payments

20 Xero / MYOB Payroll

Monthly P&L and Balance Sheet

Monthly KPI/Performance Reporting

QTR BAS Preparations Lodgements

Annual Tax Return & Lodgements

Financial Statements

Monthly CFO Advisory Call

Annual Tax Planning

As your local accountant in Chatswood, we also offer Virtual CFO Services.

CFO is a critical role in any business and its importance cannot be neglected because it serves as the bridge between the management and accounting team. This role becomes even more important for SMEs where risk of fraud and inaccurate financial reporting is comparatively high due to multiple factors including lack of segregation of duties, unqualified or inadequate number of staff.

Who is a Virtual CFO?

A Virtual CFO works with your business on a part-time / ad hoc basis to provide strategic business advice & expertise across all areas of your business. By integrating into your day to day operations, they can keep an eye on reducing cost, increase efficiencies and help you run and grow a profitable business.

Hiring a Virtual CFO provides huge cost savings as compared to hiring a full or part time employee. You won’t have to pay on-costs or provide an office space or equipment. Most importantly, you can focus on your core operations as we monitor the financial pulse of the business.

When do you need a Virtual CFO?

Hiring a Virtual CFO provides huge cost savings as compared to hiring a full or part time employee. You won’t have to pay on-costs or provide an office space or equipment. Most importantly, you can focus on your core operations as we monitor the financial pulse of the business.

Virtual CFO Services

  • Company health Check
  • Operational Review
  • Financial Reporting : Help you understand your financial position
  • Cash Flow Management
  • Performance Tracking (KPI Reporting)
  • Budgeting and Expense Control
  • Minimize Business Risk
  • Streamlining accounting functions
  • Training & Development of Accounting staff

Virtual CFO Packages

As you progress through the various stages of your business lifecycle, your need for financial information will grow and evolve. Accurate financial data is vital to the success of your business.  At MYM Accounting & Business Consultancy, we have different packages to suit your needs, from basic transactional reporting to data for strategic business decisions.

We can also create a custom package tailored to your specific business needs.

The Starter CFO

Ideal for: startups or businesses 1-2 years old

What we do:
• set up your initial budget and cash flow for your entire year
• establish your core financial processes and reporting requirements
• inform and educate important stakeholders about the business
• monthly consultations to organise company processes

The Growth CFO

Ideal for: Small to medium enterprises

What we do:
• monthly reports
• improved financial analysis
• cash flow management
• monthly KPI reporting to show progress tracking
• a quarterly budget to actual analysis report for insights into missed forecasts and expenses
• timely data to inform key investment or expansion initiatives

The Established CFO

Ideal for: Businesses in the growth stage experiencing scale and complexity

What we do:
• improved financial analysis
• cash flow management
• monthly KPI reporting to show progress tracking
• a quarterly budget to actual analysis report for insights into missed forecasts and expenses
• timely data to inform key investment or expansion initiatives
• access to detailed monthly reports

The Starter CFO

From $600 per month

Monthly Management Accounts

6 monthly Budget to Actual Analysis

Annual Cash flow and budget forecast

Catch-up calls 1 hour per month

Ad hoc work up to 2 hours per month

The Growth CFO

From $1000 per month

Monthly Management Accounts

Quarterly Budget to Actual Analysis

Cashflow Management

KPI Reporting

Financial Dashboard

6 month Cash flow and Budget Forecast

Catch-up calls 1 hour per fortnight

Adhoc work up to 4 hours per month

The Established CFO

From $1500 per month

Monthly Management Accounts

Monthly Budget to Actual Analysis

Cashflow Management

KPI Reporting

Financial Dashboard

Quarterly Cash flow and Budget Forecast

Catch-up calls 1 hour per week

Adhoc work up to 6 hours per month

Operational Review

Company Health Check

Startups

The value of a CFO to a start up

As your local accountant in Chatswood, MYM Accounting & Business consultancy works extensively works with new Startups. We can help you create an Initial business plan, cash flow projections, break-even analysis, future forecast to when you actually register your business.

We help our start up clients determine the critical factors that affect their profitability and ability to survive.

Managing cash in those early days of your business is extremely critical. According to Business Insider, 82% of small businesses fail because they experience cash flow problems. We will assist you with constantly monitoring your cash flow, help you understand when cash is available and what strategic decision to make to preserve your cash.

How we can help:

  • Business Registration (ABN, TFN)
  • GST Registration
  • Helping you to decide between cash accounting versus accrual accounting
  • Implementing a robust accounting system
  • Key business insurances
  • Opening your business bank accounts
  • Implementing accounting procedures and internal controls
  • Business planning
  • Outsource accounting & payroll
  • Tax compliance
  • Financial reports (Dashboard, KPI Reporting)
  • Preparing cash flow statements
  • Budget & forecasting reports
  • Virtual CFO advisory

Our Business Partners

As your local accountant in Chatswood, MYM Accounting & Business Consultancy, we collaborate with IT, HR, legal and marketing professionals to create your “C” suite.

The intention is to have one firm where a group of professionals works together seamlessly, and without the client having to share their requirements several times and educate multiple people on their needs.

At MYM Accounting & Business Consultancy, we have different packages to suit your needs from basic transactional reporting to data for strategic business decisions. We can also create a custom package tailored to your specific business needs.

business partners

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