Poorly designed and implemented accounting systems and inadequate training in their use are the main reasons why people in business pay high accounting fees.

With modern technology there is no reason why the majority of processing work should not be handled "in-house" by our clients and their staff.

We provide inexpensive remote communication software to link the clients computer to our computer. This means that whether you are around to corner or on the moon we can provide immediate support for your computerised accounting system.

Our computer system setup service can be summarised as follows:

Step 1: Needs analysis to establish what type of software is best suited to your requirements.

Step 2: Purchase and install software including remote communication software. This may not be necessary if you already own the software.

Step 3: Correctly structure your chart of accounts to contain just the right amount of detail so that the our job is made easier and less expensive for you.

Step 4: Provide necessary training to ensure that you and your staff know what to do and when to do it.

Step 5: Provide documented step by step instructions on how to process your transactions correctly and what procedures to follow at the end of each month so that you get meaningful results.

Step 6: Periodic visits to make sure that everything is correct.

 

We work with our clients to determine what results are achieveable within their businesses by reference to:

• industry averages
• points of difference between our clients and their competitors
• plans to develop and expand existing operations
• plans to introduce new products or services
• opportunities to reduce waste within cost structures
• opportunities to increase margin through better purchasing

We then formulate benchmark performance levels for certain key performance indicators, monitor actual results on a periodic basis and assist in taking remedial action where performance falls short of the desired level.

By taking this approach, we are helping our clients determine their result in advance and make this result a mathematical certainty rather than waiting for their result to happen to them and then counting up the beans at the end.

 

Porters provides a periodic accounting and management reporting service to clients on a monthly, quarterly, twice annual or annual basis as required.

This accounting and reporting service includes analysis of results as compared with predefined targets for the purpose of engineering final profitability rather than waiting for it to happen to you.

 

Preparation and lodgement of annual taxation returns for Companies, Discretionary and Unit Trusts, Superannuation Funds, Partnerships and Individuals.

Most importantly, tax minimisation strategies and advice

before it is too late.

We will prepare interim profit and loss statements and forecast expected year end results. We will then calculate your likely taxation liabilities and the timing of payments. Finally we will work with you to formulate a tax minimisation strategy.

 

Before you buy a business, there is much to consider including but not limited to:

• Finance requirements - both for the purchase and for ongoing working capital
• How much is too much to pay
• Required rates of return on investment
• Required rates of return for your physical effort
• Consideration of whether you are buying a business or buying a job and understanding the difference
• Opportunity cost ie; what are you giving up?
• Legal structure and tax planning
• Set up costs
• Business plan and marketing plan requirements
• Making sure that you are not buying a lemon

Before offering your business for sale, you should carefully review what it is that you are selling and ensure that the asking price reflects value for money for the Purchaser (or it will not sell) and fair return for what you have created.

Short cuts here may cost you a lot of money.

Value in a business can include invisible assets such as:

• Physical location
• Large market share
• Expanding market
• No reliance on key staff or customers
• Ability for business to run under management
• Patents, trademarks, licenses and other intellectual property

Other assets are readily valuable such as plant and equipment, trading stock but may have extra value to a Purchaser because they are installed and ready for use.

You must also consider if the time is right. For example, in many retail businesses there is a massive difference in saleability and value if you sell before Christmas as opposed to after Christmas.

If the market is mature you must consider if it is simply the right time to get out.

You may need finance for any of the following reasons:

• You have decided to buy a business
• Your existing business needs recapitalisation during periods of high growth
• You wish to expand operations in your existing business
• You need extra plant and equipment in your existing business
• Your existing business is experiencing difficulty
• You have not provided adequately for your taxation liabilities