FAQs

FAQs

FAQs

Why should I work with chartered accountants?

Accountants (or Advisors) are an important resource for SMEs and can be a valuable partner for your business. Accountants advise on strategic direction, key performance indicators, cash flow planning and working capital finance options. If you’re the owner of a small or medium-sized business, you most likely don’t have the time to focus on these activities, so your accountant can help you to save time while also delivering a better outcome.

How is your service fee structured?

Our fees are fixed-price engagements based on an agreed scope of work. We have bundled packages that include compliance, bookkeeping, reporting and tax planning services, and can be tailored to suit your requirements.

Why should I outsource my bookkeeping?

If your business employs a bookkeeper, or you’re an owner doing the bookkeeping yourself, then outsourcing this function to AR Advisors will save you time and create efficiencies with tax and BAS compliance work. The right accounting system is an important part of achieving these efficiencies. In our experience, clients who have outsourced their bookkeeping to AR Advisors have saved up to 20% on compliance work.

How should my business be structured?

Every business is different. When setting up a new business structure we focus on asset protection first, and then determine the most tax effective structure for your circumstances.

What is cloud-based accounting?

Cloud-based accounting (or cloud accounting) is a term used for accounting software programs that operate totally within the internet (‘the cloud’). Xero and MYOB are two of the most popular programs that enable all data to be accessed and stored ‘in the cloud’. This makes it easy for all users to access the data from anywhere with an internet connection.

Will cloud accounting save me money?

Cloud accounting can provide cost savings if it is set up correctly and your accountants are proactive in maximising the efficiencies it creates with compliance work (BAS and year-end tax). At AR Advisors, we work with all our clients to make sure they are getting the most out of their accounting software, to help drive efficiencies.

How hard is it to move over to cloud accounting?

Moving to cloud accounting is not without its challenges. At AR Advisors, we have developed a number of processes to assist our clients make a seamless transition to cloud accounting.

How do I set up my MYOB or Xero accounting software?

Setting up your MYOB or Xero software is relatively straightforward, but it should be a collaborative approach with your accountant or advisor. To get the most out of your software it needs to be set up to enable automated data entry, income and expense tracking and real-time management reporting capability.

How secure is my data on cloud accounting software?

Whenever you store data there is always a question regarding security. Moving to cloud-based apps increases overall security and lowers data risk, as the leading cloud providers take great measures to ensure your data is safe. This includes firewalls, data encryption software and regular security audits.

Can you help me grow my business?

We work as a trusted partner and take a holistic view of your business. We not only help to streamline your accounting processes, but also provide the expert guidance to help you plan and meet your broader business objectives.

What benefits are there when AR Advisors takes care of my taxation matters?

We operate a fully integrated business that takes a holistic approach to your financial needs in the areas of accounting, taxation and self-managed superannuation funds. We support all our clients with uncompromising personal service and a strong commitment to addressing your needs. Not only do we look after our clients’ taxation and accounting needs, we also ensure that all their business and personal affairs are looked after in an integrated manner.

Can you help me transition from my current accountant to AR Advisors?

Yes, we can liaise with your previous accountant and assist with the transfer of records and information. We can ensure any accounting systems are retained and access is handed over to us.

Do you set up and manage self-managed superannuation funds?

Yes, we have a team of highly experienced SMSF specialists. We stay on top of any changes to the superannuation system and undertake all necessary training to ensure we can deliver the best solution for your specific needs.

Can anyone have a self-managed superannuation fund?

An SMSF isn’t for everyone and there are certain obligations and legal requirements that have to be met. We can discuss these with you to determine if an SMSF is the right choice for your particular circumstances.

What are the benefits of a self-managed superannuation fund (SMSF)?

An SMSF allows you to decide exactly what your superannuation is invested in, and can provide better estate planning opportunities, as you (The Trustee) control the process.