Business Improvement


Among the range of services we offer, one of the most effective but underutilised is our Business Improvement Service. This service has provided the way forward to help many clients set goals and objectives, implement and monitor strategies to improve their business performance, and continue to remain focussed on the important issues.

This service commences with goal-setting and the business owner considering where they want the business to be in 12 months to the next 5 or 10 years.

From this, a monthly annual Budget is formulated and then monitored against actual performance on a regular basis. A good budget should help the owner establish how they are going to achieve their short-term and long-term financial goals.

The budget is then incorporated into a customised KPI Reporting & Monitoring System  which will highlight particular trends, variances and budget surpluses or shortfalls, and also allow the owner or adviser to more easily pinpoint issues that may need to be investigated and action taken before it is too late.

Through a system of regular meetings and discussions, we can help you identify the most critical issues to you and your business and then work with you towards finding solutions or improvements.

Click here to learn more about our KPI Reporting & Monitoring System and how it could help you maximise your business potential.

If you would like to discuss how we can help your business through more effective planning, measuring and monitoring, call Brett or Matt on (02) 9531-0922.

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Budgeting & Cash Flow



An annual budget is a must for any business serious about setting and achieving goals. It forms an integral part of the Business Plan. The objective of a budget should be to get the owner or manager and key staff focused on where the business is Now and Where you want it to be in the Future, whether it be in a year, 5 years, 10 years and beyond.

The Budget is an important business tool. It is the bridge or the road map for how you are going to achieve the business goals and objectives allowing you to set targets and measure performance so that decisions can be made effectively & timely. Without a budget, the business has no real focus point and will therefore have little indication if or when it runs off course from its goals.

A budget should be formulated to identify sales targets based on at least two scenarios:

  1. Based on breaking even (nil profit or loss) but factoring a commercial salary for the owners; and
  2. Achieving a targeted but realistic profit for the year.

Finally, the major aspects of the budget should be used to benchmark against actual results on at least a monthly basis. Our KPI Monitoring System can assist businesses to ensure they stay on track and focussed.

If you would like to know more about how we can customise a budget to meet your business’s needs, please contact us on (02) 9531-0922 or complete the inquiry form below.

Cash Flow Forecasting

A Cash flow forecast is similar to a budget except that it attempts to forecast cash flow movements including debtor receipts, creditor payments, ATO payments, loan repayments, and capital outlays while attempting to predict bank balances in the future. It facilitates more responsible management of cash resources, debtor collections and assists with decision making concerning future financial outlays or commitments.

A Cash Flow Forecast is also critical for businesses that experience large fluctuations in trading or rely heavily on cash to fund current and future business activity. Some examples of businesses that benefit greatly from cash flow forecasting include any business in building & construction industry, manufacturers, importers and wholesalers.

Finally, there is little point forecasting cash flow if it is not monitored regularly and updated for actual results and balances. This can be a time consuming process but if done effectively, it can help the business through difficult times and even prevent financial problems.

If you would like to know more about how we can assist your business to better manage cash flow, please contact Brett or Matt on (02) 9531-0922.

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Cloud Accounting


One of the most exciting changes in the accounting industry in recent times has been the introduction of cloud accounting. Cloud accounting simply puts your accounting system in a private space online so that it is fully accessible to you via an internet browser or a secure remote connection.

Cloud Computing is a way to access products & services securely through an internet connection anywhere in the world. It’s been around for years. Whether you are accessing Facebook, Hotmail, or YouTube, you are using cloud computing which involves tapping into huge banks of data located elsewhere, via the internet. Providers offer to host products in a central location and provide access to them through a secure internet connection. Huge buildings full of computer servers & other hardware (known as Data Centres) exist worldwide with masses of virtual and real-life security to ensure that no unauthorised people access their servers.

Features of a Cloud Accounting System include:

  • Allows for more accurate and up to date financial reporting system thus allowing you to see what is happening in the business NOW rather than historical results of up to 12 months ago. This ensures more effective decision-making by owners.
  • Saves time and money over the long-term through efficiencies gained in data input and reconciliations.
  • Facilitates & promotes forward-thinking.
  • Facilitates more effective tax planning and forecasting.
  • Works well with other business advisory services.
  • Allows you to do the processing in-house. We can also train your team on this which will free up your time allowing you to work ON the business.
  • Minimises adjustments or corrections often required when annual financials are prepared.

If you would like to know more about how cloud accounting can improve the efficiency of your accounting system and the information you receive from it, call Tamsin on 9531-0922.

Self Managed Superannuation


With the importance of superannuation to provide adequate savings for retirement, we have developed an expertise in assisting our clients with their long term superannuation strategies.  Also, with the complexity of superannuation laws, Eclipse Accounting Group can provide advice to clients on setting up and structuring a self managed super fund (SMSF) including using a limited recourse loan and approved borrowing structure.

In particular, we have developed a strong expertise in the SMSF market and have assisted many clients in setting up SMSFs in recent years.

Our service includes the preparation of financial statements, annual returns, the filing of all regulatory returns and facilitating of all audit requirements through an external auditor. We also assist clients on all tax aspects of SMSFs including contributions tax, tax planning and the establishment and statutory requirements of superannuation allocated pensions upon retirement or on transition to retirement (for people over 55 years).

Our goal is to assist you to carefully plan your strategy for retirement and to maximise the long-term wealth that building up assets and investments in a SMSF can facilitate.

Strategic Planning


The daily time pressures and constraints of operating a business can often mean strategic planning takes a back seat – but to have a successful business you must plan ahead.

Many business owners don’t have anyone outside of the business that they can talk to for advice, guidance or for future planning.

Eclipse Accounting Group has implemented a new Strategic Planning Package for business owners who want and need more than just compliance-based services and tax planning. It involves regular and systematised planning, monitoring, reviewing and discussing whatever issues that are important or critical to you and your business.

Features & Benefits of a Strategic Planning Package include:

  • Ensures the business owner stays focussed and is held accountable for actions they commit to undertaking.
  • It relies on the business having a Budget & KPI Reporting System in place.
  • Includes Quarterly review of internal financial reports.
  • Summary of significant variances between budgeted and actual performance.
  • Summary of Key Performance Indicator (KPI’s) for each quarter and year to date and provision of KPI graphs established under the KPI Reporting System (per above).
  • Quarterly Business Financial Review and Reporting Meeting of up to one hour per meeting.
  • Agenda of quarterly meetings are determined by you and your needs and may include: discussions relating to actual performance compared to targets or budget, improving cash flow, tax planning, business issues or concerns, or actions and plans that were discussed at a previous meeting.
  • Documentation of Minutes of quarterly meeting discussion points, action plans, and timetable.
  • Follow up with you after each meeting to ensure agreed actions are being attended to and to hold you accountable.

If you like to know more about our Strategic Planning Package, please give Brett or Matt a call on (02) 9531-0922 or complete an enquiry form.

Tax Planning & Minimisation

Taxpayers have the right to arrange their financial affairs so as to keep their tax to a minimum, often referred to as tax planning.

Tax planning is legitimate when done within the letter and the spirit of the law.

We would discourage clients investing in schemes offering large tax benefits without first independently researching the commerciality of the investment and secondly, obtaining a Private Ruling from the Tax Office.

Over the course of recent years, many tax planning opportunities have been removed or amended as a result of changes to Legislation. Quite often, tax incentives or deductions will only apply to small businesses with gross income of less than $2 million, or the Tax Office make things so onerous or complicated that people do not take advantage of them.

We believe that one of the keys to good tax planning for businesses is to meet with your accountant around April or May each year to review the interim financials with the view to:

  1. Looking at any Tax Minimisation opportunities;
  2. Projecting the annual sales and profit and analysis as part of a business performance review; and
  3. Projecting annual income tax and tax instalment obligations for the next 12 months or so for budgeting and cash flow purposes.

If you would like a review of your business tax structure to ensure you are doing everything possible and practical to minimise tax, please contact our Sydney or Gold Coast office.

Accounting & Tax

It is very difficult for business owners or individuals to distinguish between the compliance services provided by one accountant compared to another. Some people like to shop around based on cost alone and that’s fine. However, we know that based on the quality of our work and the experience of our team, our clients receive value for money.

We take great care in the preparation of accurate financial statements and income tax returns for all our clients so as to ensure clients pay no more tax than they have to, full compliance with Tax and Corporation Law, and therefore minimise the chance of any questions raised by the ATO or any other regulatory authorities.

Why use Eclipse Accounting & Tax Services?

  • Fully trained, experienced and qualified staff.
  • All business entities work goes through our 100-point Quality Control Checklist prior to finalising.
  • All work is reviewed by a Chartered Accountant.
  • We will actively discuss tax planning or tax risks with you at the earliest possible time.
  • Peace of mind knowing that we will legally minimise your tax.
  • We will return all calls within 24 business hours.
  • Our fee includes all telephone calls.
  • Quality & Satisfaction Guaranteed.
  • Due to our firm’s reputation for high quality, we have a very good relationship with the ATO and hence have had no tax audits in the last 7 years.
  • We can provide you with an upfront proposal of fees and services so that you know what to expect before we commence the work.
  • We offer clients a monthly fee payment service to help smooth out cash flow and assist with budgeting.

To discuss your business current compliance needs and situation, please call Brett, Matt or Kelly to arrange a free initial consultation.

Property Investment


Whether you are an experienced property investor or someone looking to buy their first property, we can help guide you on the factors to look for before making the decision to purchase an investment property.

We are also an important source of independent advice when it comes to property, assisting you to make key property investment decisions based on sound advice which takes into consideration your current and future net income as well as your current net assets.
We have a network of real estate agents, buyer agents and property valuers that we can call upon to assist you.

And if you have over $150,000 in combined superannuation benefits, it may even be viable for you to purchase a property through a self-managed super fund using a limited recourse loan.

Before purchasing or selling a rental property you should know:

  • Weekly ‘out of pocket’ costs of owning the property
  • Capital growth required to meet the ‘out of pocket’ costs and therefore make a profit
  • Rate of return (before interest and depreciation) to allow you to compare with other asset classes.
  • This will ensure that your decision to buy or sell a property is made on facts rather than just emotion.

If you would like our assistance with any of the above, please contact Brett or Matt on (02) 9531-0922 or Kelly at our Gold Coast office on (07) 5668 3108.

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Eclipse Bookkeeping Services offers high quality bookkeeping services to small to medium sized businesses throughout Australia from our Sydney office.

What makes us different from other bookkeepers is that our team are supported in-house by fully qualified & experienced accountants, ensuring the highest level of accuracy and efficiency as well as compliance with Australian Tax Laws.

This also helps minimise our clients’ annual compliance costs and eliminates business owner frustrations including having to rely on inaccurate or out-of-date financial reports; having to repay GST over-claimed during the year; or paying higher accounting fees due to bookkeeping errors or omissions.

By utilising the latest cloud accounting software and technology, our team can support and train business support staff using Xero or MYOB software, and ensure businesses get the most out of their financial reporting system.

If you would like to know more about us, please give us a call or submit an enquiry form.

Business Acquistions

Anyone who is considering purchasing an existing business should thouroughly research the business from a financial and non-financial perspective and give consideration as to whether it is the right type of business for you.

As a prospective business owner you should always seek expert accounting and legal advice before progressing too far.

Some important considerations are:

  • Vendor – reason for sale of business
  • Asking price – Is it consistent with sales and earnings history and how does it compare to independent business valuation or appraisal?
  • Sales – patterns, trends, customer base, current suppliers
  • Costs – fixed and variable costs, staff costs
  • Profits – analyse financial records, future cash flow and profitability
  • Assets – identify and check all assets, including intellectual property and leasing arrangements
  • Liabilities – outstanding debts, refunds and warranties
  • Purchase agreement – review carefully
  • Tax – GST, Capital Gains Tax, stamp duty implications
  • Legal issues – leases, business structure.
  • Working capital requirements – you need to ensure you have enough cash
  • Finance – what security can you offer the bank?
  • Budgeting – an important consideration before you start trading

If you are interested in acquiring a new or existing business, including a franchise, and would like an independent assessment, appraisal or valuation, please do not hesitate to contact Brett or Matt on (02) 9531-0922.