Business Services


Have you ever wondered how your business performs compared to your competitors? What is their average bottom line? Are you spending enough on advertising? Are you paying too much rent? Are your staff costs too high? Surviving in today’s business climate requires you to spend more time working on your business than in it. We can provide you with accurate, timely, informative benchmarking reports that enable you to:

  • See how your business compares to your competitors
  • Understand more about how the rest of your industry works
  • Analyse the key performance indicators in your industry

Equipped with this information, we’ll work with you to develop action strategies that improve your bottom line.


A good budget is a necessity in a good business plan. It is one of the best business tools you can have, enabling you to set financial targets and measure your performance.

In addition to goal-setting value, budgets will often improve your chances of acquiring funding. Financiers often require budgets as a prerequisite for funding approval.

The techniques we utilise to form financial projections enable you to consider future scenarios and provide you with goals to strive for in your business. There are many types of budgets. We can help you design the right budget for your requirements.

Let us show you how a budget can provide feedback that helps you prepare for the future of your business!

Business Start-up

If you have a good idea for a new business venture but don’t have expertise in the legal or financial aspects of creating a new business, we can help you:

  • Decide on the most suitable structure for your business – Sole trader, partnership, or limited company
  • Prepare a business plan, cash flow projections, budgets, and trading forecasts
  • Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
  • Establish a good working relationship with your bank
  • Register for an Australian Business Number with the ATO
  • Complete registration procedures with the Australian Securities and Investments Commission
  • Deal with company secretarial issues
  • Set up a recording system for your internal use and for complying with statutory requirements

Let us help you turn your business idea into a reality!

Cash Flow Forecasting

Are you holding too much inventory? Is this the right time to expand your business? Are you going to have enough cash to pay all your expenses every month? Surviving in today’s business climate requires you to spend more time working on your business than in it.

We can provide you with accurate, timely, informative cash flow forecasting reports that enable you to:

  • Realise and understand when cash is available
  • Plan and prepare for expansion, stock control, and taxes
  • Analyse and anticipate key expenses

Equipped with this information, we’ll work with you to develop action strategies that improve your bottom line.

Management Consulting

Our aim is to ensure your business achieves the potential it is capable of. We have the know-how and experience to offer advice that helps you run your business more effectively.

We are practiced in acting as a sounding board for management, bringing years of experience in business growth to the relationship. We can identify key performance indicators in your business, through which you will see positive changes occurring with the help of our professional consultants.

We check that your business is as competitive, focused, and profitable as it can be, then offer flexible strategies, designed to address the issues affecting your business.

Let us give your business a health check! Take the practical advice we can provide to ensure the ongoing success of your venture.

Payroll Services

Administering your payroll can be time-consuming and divert you from your core business activities. Added to this, payroll and employment legislation are growing increasingly complex.

We can relieve you of this burden by providing a comprehensive, confidential payroll service that includes:

  • Customised payslips
  • Administration of PAYG, statutory sick pay, and annual leave
  • ATO filing
  • Summaries and analyses of staff costs
  • Administration of incentive schemes, bonuses, and termination payments

Even if you only have a few employees, you will save by engaging us to administer your payroll.

Risk Management

A multitude of risks exist in today’s business environment. At Synergy Accountants and Estate Planners we pride ourselves in our proven ability to accurately assess risk and protect you from vulnerabilities inherent in your enterprise. An effective risk management strategy improves the performance of your business, enables you to complete goals, and protects the value of your business.

Our risk assessment includes:

  • Assembling relevant information about your business and market
  • Identifying the major risks facing your organisation
  • Developing a risk strategy
  • Implementing the risk management procedures
Software Solutions

Let us help you make the right choice of accounting software. A decent accounting system will help you keep track of your cash flow and let you complete GST returns easily.

Choosing the right system for your business can be difficult. After all, there are over sixty accounting packages available in Australia. Here at Synergy Accountants and Estate Planners we invest considerable resources into ongoing staff training to ensure we can recommend the best accounting solution for your business.

We are also Quicken Accredited Trainers and Xero Gold Partners.

Strategic Planning

The pressures of daily business can often mean strategic planning takes a back seat, but to have a successful business it is vital to plan ahead. We’ll help you develop a strategic plan that examines where you want your business to be in the next 3-5 years and exactly how you and your team can achieve these aims and objectives.

Your strategic plan will:

  • Define the characteristics of your company in three to five years
  • Identify your competitors
  • Define your objectives and financial goals
  • Include an effective implementation strategy to achieve your goals
New Company Trust purchase & set up - including ABN Registration

A trust is an obligation imposed on a person – a trustee – to hold property or assets (such as business assets) for the benefit of others. These others are known as beneficiaries. Setting up a trust can be expensive, as a formal deed is required and there are formal yearly administrative tasks for the trustee to undertake. A trust deed outlines how the trust is to operate. If you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection. Knowing the main features of a trust business structure may help you decide if this structure is best for your business.

Statement of Position

The statement of financial position is another name for the balance sheet. It is one of the main financial statements and it reports an entity’s assets, liabilities, and the difference in their totals.  The amounts reported on the statement of financial position are the amounts as of the final moment of an accounting period.

The structure of the statement of financial position is similar to the basic accounting equation. For instance, a corporation will report amounts in the following format: Assets = Liabilities + Stockholders’ Equity. A nonprofit organization’s format will be: Assets = Liabilities + Net Assets.

The statement of financial position must reflect the basic accounting principles and guidelines such as the cost, matching, and full disclosure principle. Accordingly, the statement of financial position is more meaningful when it is prepared under the accrual method of accounting.

Tax Planning

You can save on your taxes in many different ways, just remember to always keep your investment plans in mind. Make sure you give yourself a lot of time to review everything before tax time.

Some ways to save on your taxes are:

  • make extra contributions to your superannuation
  • take as many deductions as you are legally able
  • look into tax effective investments.

Some deductions that may be available are:

  • Self-employed superannuation contributions up to your maximum deductible contributions
  • Income protection premiums
  • Deductible amount for pensions/annuities
  • Interest/fees on borrowing for investment purposes

Make an appointment before the end of financial year to come in and discuss your tax planning strategy.

New Trust (Discretionary i.e. Family) formation

Family trusts have an advantage over SMSFs as they have far fewer restrictions and rules. Unlike an SMSF, money can be added to or lent to a trust with no restriction, money can be borrowed from the trust and distributions can be paid out or reinvested. There is no age restriction on adding to or drawing funds from the trust and family businesses can be run through them.

The assets of a family trust are administered and controlled by the trustee of the trust rather than by the individual beneficiaries. This can provide excellent asset protection advantages in certain circumstances, for example, if a family member is sued.

Family trusts are also useful for estate planning purposes. Through a family trust, the ownership of assets such as a share portfolio or holiday house can continue uninterrupted even when a key family member dies. This is because the family member doesn’t own the asset, the trust does.

Consequently, the assets don’t form part of the individual’s estate for the executor to have to distribute. This can make the administration of the estate simpler, and the outcome regarding family assets more certain. Trusts can be multi-generational, and a life cycle of up to 80 years is allowed for trusts formed in NSW.

For those wanting to invest a substantial amount, say more than $300,000, and have either maxed out their contributions to super, or want more accessibility than super provides, a family trust can be worthwhile.

Due Diligence

Benefits of due diligence

A due diligence review is beneficial in:

  • Determining if the historical financial performance of the business is consistent with
    representations made by the vendors
  • Understanding how the business operates
  • Understanding potential operational issues
  • Identifying potential tax issues
Industry Analysis
At Synergy Professional Accounting Solutions, we are able to provide your business with information relating to the complexity of a particular industry.

To undertake an industry analysis, we review the economic, political and market factors that influence the way an industry performs.

SWOT Analysis

SWOT Analysis (strengths, weaknesses, opportunities and threats analysis) is a framework for identifying and analysing the internal and external factors that can have an impact on the viability of a project, product, place or person.

  • Strengths internal attributes and resources that support a successful outcome
  • Weaknesses internal attributes and resources that do not promote a successful outcome
  • Opportunities external factors that can be utilised to the advantage of the project
  • Threats external factors that could jeopardise the successful outcome

At Synergy Accountants and Estate Planners, we use the four (4) elements above, to gather the information to provide our Clients with a comprehensive framework on whether the goal or project is worth pursuing and what elements are required to make it successful.