It is provided by Focus Softnet, an accredited ERP and CRM software vendor with over 1 million users across the globe. Our services work on a fixed monthly fee basis with no hidden charges and unlimited telephone and email support. We understand that small businesses (especially start-ups) often need a lot of support and advice.
Focus Somar – Your Management Accounts Expert:
- Call me for a no obligations catch up over a coffee and then decide if we do business together.
- Our size means you’ll always deal with a name you’ll recognise and who knows both you and your business.
- When you buy a Credit Report from Global Database, you will also have a 7 days free trial to our B2B Sales Platform.
- Our management accounts services assist every business owner or manager in making the right decisions.
- Access 100% verified registry data via API—company profiles, group structures, UBOs, financials, and more.
Companies can choose from methods like straight-line or reducing balance, depending on asset type and usage. Selecting the appropriate method is essential for accurate reporting and tax compliance. Focus Accounting and Taxation Solutions focus on satisfying clients, by acknowledging their needs and demands. We, as a professional team, ensure you with providing trust tax returns, financial planners, business and tax advisers, payroll services as well as other taxation and accounting-related services.
Apart from our three primary services, we also provide a wide array of other functions that helps to grow your business and allows you to have a well-planned financial portfolio. Focus i has an in-built Business Intelligence tool that provides users with actionable insights and critical data for informed decision-making. Focus i is the best performing accounting and billing software that deploys Artificial Intelligence (AI) and automation to drive efficiency.
In order to ensure that your concerns are immediately addressed, our devoted support team is always available to provide you with top-notch assistance by phone, email, video chat, and social media. Assign us with your complex problem of accounting or taxation, and we will make sure to give you the most straightforward solutions. Our experienced financial experts deal with the ATO and ASIC and ensure that you are being properly represented before the tax regulators.
- This impacts the income statement by reducing taxable income and influences the balance sheet by decreasing asset values.
- Setting up a chart of accounts organizes financial data into a structured framework for accurate reporting and analysis.
- Apart from our three primary services, we also provide a wide array of other functions that helps to grow your business and allows you to have a well-planned financial portfolio.
- It is divided into operating activities (cash from core operations), investing activities (cash related to long-term assets), and financing activities (transactions with owners and creditors).
Income Statement
We have been working with Focus Accountants and his team for more than five years. They provide us with expert advice in relation to our annual accounts, tax and Solicitors’ accounts rules. The Focus team are very professional, and always give clear advice and guidance in a prompt and efficient manner.
Management & Business Consultancy
Understanding tax obligations ensures compliance with legal requirements and aids in strategic tax planning. Limited companies are subject to corporation tax on profits, including income from operations, investments, and capital gains. Staying informed about current tax rates and regulations affects financial planning and cash flow management. Engaging with a qualified tax advisor or using specialized software like TaxCalc assists in accurate calculations and timely filing.
Tax-ready accounting solution so on cloud
Probate is the accounting focus limited legal procedure of administering any estate of a deceased person resolving the claims and distributing his or her assets under a Will. We take pride in offering you high quality business plans that enable you to establish communications with important stakeholders.
Asset management extends beyond depreciation, encompassing the entire lifecycle from acquisition to disposal. Implementing an asset management system helps track location, condition, and performance, ensuring optimal utilization. Tools like Asset Panda or EZOfficeInventory facilitate effective tracking, enabling maintenance scheduling, reducing downtime, and extending asset life.
Business Financing
We supply detailed guidance on all taxation matters, including income tax, capital gains tax, goods and services tax, fringe benefits tax and other indirect taxes. Raj Somar and his team is providing excellent accountancy services and business advise all the time for more than 5 years. At Focus Somar, we provide management and business consultancy service with specialization in operational performance improvements and strategic consulting for companies.
Regular reconciliation of accounts payable records avoids errors and maintains accurate financial statements. Setting up a chart of accounts organizes financial data into a structured framework for accurate reporting and analysis. This ledger categorizes transactions into accounts such as assets, liabilities, income, and expenses. A well-designed chart simplifies reporting and enhances performance tracking. The income statement, or profit and loss statement, summarizes revenues, expenses, and profits over a period, typically a quarter or a year.
Financial statements are indispensable for limited companies, providing a comprehensive overview of financial health. These documents serve as a basis for internal decision-making and fulfill statutory requirements, informing external stakeholders about the company’s financial status. Being small means we can be agile, taking advantage of new technologies and helping clients quickly understand and adapt to changes in legislation. We were early adopters of cloud-based bookkeeping and accounting software when we started offering it to our clients over 4 years ago. We work predominantly with FreeAgent and have a wealth of knowledge on the software and the advantages it brings.
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