Frequently Asked Questions
Who will be handling your affairs and what are their professional qualifications?
Professionally qualified accounting personnel.
Does the accountant have knowledge of your particular industry?
We have a diverse range of clientele and we do have specialties of a number of particular industries.
Is the accountant able to provide business advice and assist in the financial management of your business?
Yes we are able to provide a considerable range of advice to suit the client's needs as we have the necessary trained personnel.
Does the firm provide advice on investments and assistance with business and personal financing?
We are aligned with Professional Investments Services which is our dealer group to offer financial advising services.
Will the accountant return your calls within reasonable time?
It is a policy that all calls of enquiry to our office are answered within and expedient time that permits us to do so.
How long will the accountant take to complete your work?
Depending on the particular skill and acumen required in order to complete the assignment the work will be carried out with undue delay.
How accessible is the partner looking after you? A common complaint from business owners is that over time they have less contact with the partner.
The principal is available on a 24 hourly basis should the need arise that circumstances permit and is more than happy to answer any questions raised.
Do you feel that the accountant has an extensive knowledge of income tax and GST law and keeps up-to-date?
All Professional and Support staff members are given regular training and updates in order to remain abreast of the relevant legislation.
Is the accountant familiar with the accounting software that your business operates?
Robert J Nixon & Associates staff members have been exposed to a wide range of accounting software that various businesses utilise.
What is the accountant's hourly rate and basis upon which fees are charged? For example, will you be charged for every phone call and also for travelling time?
Robert J Nixon & Associates charges on a value added basis in order to mutually satisfy our clients budgets so that there will be no surprises as the client will be aware as to how much they will be charged.
I'm a bit behind in my BAS and Tax. Can you help me get up to date?
Yes we can and assure you that you are not alone - in fact we do this all the time. We know how busy life can get sometimes and sometimes and if compliance is not your forte we can get your affairs up to date and also keep you up to date so you don't have that issue of being pursued by the tax office.
When is the best time to get an accounting system?
Great question and I wish more people asked this one. The ideal time is BEFORE you even start marketing because -
otherwise you won't be able to invoice your clients - and if you don't invoice you don't get paid.
you've got time. I know this sounds silly but once the business starts getting some momentum you will realise you just don't have the time to implement a system anymore as you're too busy running the business.
the longer you operate without a proper system in place the bigger the potential mess you are going to get into....it's much smarter, quicker and cheaper to get it right before you start than clean up the mess afterwards.
Is an Accountants the same thing as a Tax Agent?
Despite common belief no they are not the same thing. Just like there are numerous different types lawyers e.g. criminal lawyer, family lawyer, property lawyer, there are also lots of different types of accountants too.
The title accountant is a broad term for anyone who has a qualification in accounting. In the accounting profession there are management accountants, tax accountants, financial accountants, cost accountants and the list goes on. Each of these types of accountants do similar yet very different things.
A tax agent is an accountant who is registered by the Tax Practitioners Board and like the BAS agent they must have minimum qualifications and experiences as well as have specific insurances in place and also maintain their knowledge by mandatory continuous professional education.
When is superannuation due?
Superannuation Guarantee payments are due on a quarterly basis usually on the 28th of the month following the end of a quarter.
What is the difference between an accountant and bookkeeper?
There are quite a few differences between bookkeepers and accountants however there are also a few similarities/overlaps so often it can be hard to understand where the line between starts and finishes - especially because sometimes they can actually be the same person.
Bookkeepers do the day to day things such as invoicing customers, processing supplier invoices, chasing customers for money, allocating cash received and paying suppliers, payroll bank reconciliations and usually will get the accountants to a point (called Trial Balance stage) when the accountant will take over.
Accountants on the other hand usually help with income tax and business advisory. They look at it from a high level, focus on the things they know the ATO are interested in and prepare compliance reports. We do most of the year end work in your accounting system and then transfer that data into the tax system. The benefit to you is that your system says exactly what the ATO has and if you had made any mistakes through out the year we will fix them in your system because system integrity is critical for you to make informed decisions.
If you have any other questions please feel free to send them via our contact us page and we would be happy to answer them.
Can you help with bookkeeping ?
Yes we do if we do your tax returns we can also do your bookkeeping and yes this service is offered to the general public.