What a tax accountant does
A tax accountant prepares your tax return, your end-of-year accounts and other ATO paperwork. Most of their work happens after the financial year ends. You usually hear from them once or twice a year.
What an accounts department does
An accounts department runs your finances during the year. It pays suppliers on time, pays staff, keeps the bank accounts up to date, finishes the books each month and tells you how the business is going. In a big company this is a team of people. In a small business it's usually the owner, late at night.
Where CTRL Finance fits
We're your accounts department, without the hire. We run the day-to-day, lodge your BAS as a registered BAS agent, forecast your cash and give you advice. At the end of the year we hand tidy books to your tax accountant, who still does your tax return.
Signs you need more than a tax accountant
- You only find out how the year went when your tax return is done
- You approve every bill yourself
- Your bank wants monthly figures
- You run more than one venue, site or company
- You're thinking about hiring an in-house accountant
| Tax accountant | CTRL Finance | |
|---|---|---|
| Focus | Tax and ATO paperwork | Running your finances |
| BAS | Often, from figures you prepare | Prepared and lodged by us |
| When | After the year ends | Every week and every month |
| Looks at | Last year | This month and the next three |
| Fees | Per job or by the hour | Fixed monthly fee |
Common questions
Do I need a tax accountant and CTRL Finance?
If your business has outgrown doing the books yourself, usually yes. Your tax accountant does your tax return. We run your finances during the year.
Will you replace my tax accountant?
No. We lodge your BAS as a registered BAS agent, but your tax return and tax planning stay with your accountant. We give them tidy books at the end of the year.
Isn't this just bookkeeping?
A bookkeeper types in what happened. We run the whole process: approving and paying bills, payroll, finishing the books each month and reporting. And we tell you what the numbers mean.
When does a business need an accounts department?
Common signs: you approve every bill yourself, the bank wants monthly figures, you run more than one venue or company, or you're thinking about hiring an in-house accountant.
Talk to us about your business
Tell us how your bills, payroll and reporting work today. We'll explain what we'd take off your hands and give you a fixed monthly price.