Tenni & Associates

  • Phone Number: (03) 9720 9880
  • Email address: grant@tenni.com.au
  • Street address: Suite 12, 322 Mountain Hwy, Wantirna, VIC 3152

Accounting, Taxation & GST

We can help you take the worry out of your accountaing, taxation and GST.

Business Coaching

With our business coaching services, we can help you to run a better business

Business Startups

Get the right advice and avoid costly mistakes when starting a business.

Financial Planning

The need for quality financial advice has never been greater. Talk with us now.

Insurance

We can provide clients with quotes on a full range of insurances through our affiliate insurance group. Talk with us now.

Loans & Mortgages, Vehicle & Equipment Finance

We can help you access finance and save on interest rates.

Management Consulting Services

Utilise our experience and some KPIs to measure and monitor vital aspects of your business.

Self Managed Super Funds

We can help you with your SMSF tax and audit requirements.

Business Start Ups & Sales

When starting or buying a business or franchise, the wrong advice can be very costly.

There are numerous issues to consider and we endeavour to make sure all our business clients are structured correctly for taxation purposes taking into account financial and legal considerations.

  • Business Structure
  • Finance Requirements
  • Software Selection and Training
  • Employer Obligations
  • General Tax Advice
  • Bookkeeping Training
  • Business Plan
  • Business Evaluation
  • Registrations
  • Cashflow Forecasts
  • Budgets
  • Compliance

One of the most important decisions you need to make when starting a business is the choice of accounting software.

Ranging in price, features, support and training requirements it is easy to become confused with so many options. We therefore provide the following guidelines:

  • Don’t buy software beyond your business needs. If you don’t need a fully integrated general ledger system, then avoid these types of programs, especially if the next point applies to you.
  • If you don’t understand double entry accounting (i.e debits, credits and journal entries) then avoid the more complicated general ledger accounting software programs. If you need to use such a program then you will need to undergo training to learn both the software and accounting.
  • Your software should be compatible with our general ledger system to allow easy transfer of electronic data. This can save time, money and assist with meeting lodgement deadlines.

In Australia the three most popular accounting packages are Xero, MYOB and Cashflow Manager.

Let’s talk about Cashflow Manager first as this is the most suitable program for the majority of small business owners.

Cashflow Manager looks and operates just like a manual cashbook and requires no understanding of accounting debits and credits. It’s unique column format allows you to simply allocate your income and expenses to the appropriate column which makes it very easy to use.

The program comes complete with ‘Invoice Manager’ that lets you generate Tax Invoices, track your debtors and produce statements. The Cashflow Manager ‘Gold’ package also includes tracking supplier invoices, inventory and the ‘Wages Manager’ payroll module to process pays, print payslips, PAYG Payment Summaries and track staff entitlements.

If your business specifically needs a full general ledger solution – Xero and MYOB are very popular.

These packages have additional features including multi-user licences, time billing for professionals, job costing, lay buy control and can produce over 100 analytical graphs and reports. Because of their relative complexity you may need to undergo training to understand and use these software programs. Most TAFE’s provide structured training courses that run for between 14 and 20 hours at a cost of around $350.

We urge you to contact us regarding your choice of accounting software because the wrong package can lead to a ‘computerised shoebox’ records that can be more difficult to process than the traditional shoebox full of receipts!

Selling your Business

We also play an integral role with our clients who are in the process of selling their business. There is a range of issues to consider including Capital Gains Tax and tax concessions. We aim to ensure the correct outcomes are always achieved.

Tenni & Associates Pty Ltd, Corporate Authorised Representative No. 448819 of InterPrac Financial Planning Pty Ltd (AFSL 246638) |Privacy Policy

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