Mizael Partners

Welcome to Mizael Partners. We offer a range of accounting, auditing, bookkeeping, personal tax and SMSF services to help our clients reclaim their time and focus on what is important to them.

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How smartly do smart accountants use technology to solve your business problems?

How Smart accountants and CPA firms help small businesses to manage finance effectively using technology to solve business problem.

If you need help, smart accountants at Mizael Partners can help you effectively manage your business finances. We have helped numerous B2B and B2C firms and IT (information technology) businesses by delivering the best audit, tax, accounting, technology consulting, and business advisory services.

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Bookkeeping, Accounting, Auditing and Business Advisory Services: What’s the difference?

Know the crucial differences between outsourced bookkeeping, accounting, auditing, and business advisory services before you hire someone.

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How does a business accountant help start-ups and entrepreneurs?

Business Accountants help Start-ups and Entrepreneurs with managing all financial requirements of bookkeeping, accounting, and taxes taken care of properly.

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Differentiate Tax Accounting & Financial Accounting

Read our blog, where we will discuss the main differences between tax accounting and financial accounting and how they both perform their roles in our business.

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5 reasons to have a Financial Statements Audit by professionals.

Businesses of all sizes need to have their financial statements audited by a certified auditor in Australia. It is crucial to understand that an audit is a very important aspect of a business’s success and better financial health. For decades, the financial statements of companies have been audited by independent auditors and auditing companies to foster confidence in the global financial system.

Are you confused whether you need a financial statements audit or not?

When do financial statements need to be audited? Whether you should hire audit firms in Australia or do it by yourself, in any way first and foremost, you will need to understand, what it is exactly, how it is performed, and who can perform a financial statement audit.

 Let's begin by understanding the basics.

 What is a Financial Statement Audit? 

A financial statements audit is a process of scrutinizing and examining the financial information of your business to ensure that it is prepared under the applicable reporting framework. These audits involve a thorough analysis of a company’s financial statements and are collected to be used to prove that a business’s financial practices are reliable. 

The primary objective of this examination is to ensure that the financial statements and disclosures are free from material misstatements, omissions, or defects. Financial audits can be conducted by both internal and external auditors. The primary distinction between internal and external auditing is the external auditor's objectivity and independence regarding the financial statements and internal controls audited.

Source:https://www.mizaelpartners.com.au/blog/financial-statements-audit-by-professionals-in-melbourne

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Accounting firms near me: Are they worth considering?

To determine if businesses are profitable and growing, accounting, and bookkeeping are a must-do. Especially when you are a small business, the absence of a professional accounting partner can lead to massive revenue losses and increasing payroll issues. 

Simply, you need to learn how to spend your money and keep track of all financial transactions. But before you hire an accounting partner, ask yourself: Can I benefit from the accounting firm near me? Or should I consider different cities and overseas locations for offshore accounting options? 

Source:https://www.mizaelpartners.com.au/blog/accounting-firms-near-me-are-they-worth-considering

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How can cloud-based accounting services help my small business?

In recent years, the accounting world has been buzzing about cloud-based accounting. The new trend has emerged as one of the perfect solutions for managing business accounting. With many businesses rapidly moving towards outsourced accounting services, the overall transition doesn’t seem to be a big deal now. 

However, if you are still unsure about cloud-based accounting benefits and are spending a huge fortune on hefty, On-premises solutions and spreadsheets, it may be time to upgrade. 

But before we get into the details, let us find out how cloud-based solutions perform over manual and on-premises solutions. 

Source:https://www.mizaelpartners.com.au/blog/cloud-based-accounting-services

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Outsourced Accounting: What accounting functions can be outsourced in 2022?

Accounting plays a crucial and wide-ranging role in every business. A well-managed accounting system can provide hundreds of benefits, but if it is not handled properly, it may also pose challenges. For SMEs trying to manage their accounting on their own, it should go without saying that better finances can improve other aspects of their business. But sadly, business owners don't have the time and energy to handle the necessary responsibilities and often ignore the need to hire an outsourced accounting service. Sometimes it turns out to be a downfall for many businesses.

 Though it is not a new concept, it is only popular among business owners who really feel the need when addressing accounting with other crucial aspects of their business. That may be marketing and sales in most cases. It might surprise you that nearly half of the many entrepreneurs in Australia don't know which accounting functions they should outsource to CPAs. 

 This blog highlights the most significant factors of managing an account and how you can list all the crucial accounting functions and understand which accounting functions they can outsource to a CPA firm in Australia to save time and effort for your valuable but limited resources. 

Source:https://www.mizaelpartners.com.au/blog/outsourced-accounting-functions-in-2022

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10 Tips to manage your finances like a pro: From top business accountants of Australia

Are you experiencing financial difficulties? Does insufficient cash flow often prevent you from reaching your goals? 

If so, you are no different. 

Unexpected financial challenges are most common among SMBs. Some are even struggling to manage basic expenses.  

Such difficulties have the most severe impact on small business owners who are operating with less capital. Often, they are more than just a few emergency setbacks.

 “About 70% of small businesses shut down by the time they reach the five- year mark. Almost half of those shut down due to a lack of funds.

There is no one-shot solution to random financial challenges except that you follow best accounting practices and find efficient and cost-effective ways of managing financial operations.

To help you out Mizel Partners, Australia’s top accountants present 10 best tips to manage finances in business -

1.     Identify and document essential business requirements

2.     Don’t go without the plan

3.     Budgeting is your best friend. 

4.     Maintain an Emergency Fund.

5.     Outsource important and emerging tasks 

6.     Make Sure You Get Paid (Track receivables)

7.     Negotiate long-term contracts

8.     Save money on overhead costs.

9.     Stay on top of day-to-day expenses.

10. Hire professional accounting services when you need them. 

Source:https://www.mizaelpartners.com.au/blog/tips-to-manage-your-finances-from-top-business-accountants-in-australia

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Benefits of using outsourced accounting services

Looking to outsource your accounting? Not sure how beneficial it will be to your business? 

Here are all the effective ways Outsourced Accounting Services can help your business grow, making it more profitable and thriving in the next financial year. 

 No matter if you start small or large, the unapologetic impatience to grow your business is always there. As long as accounting and business services are concerned, hiring and training resources are some of the highest expenses business have to deal with. It also explains why most small and large organizations hire outsourced accounting services in Australia. 

“Over a third of small companies currently outsource at least some of their operations.”

For every business owner, outsourcing can be an excellent way to save on costs and progress through their growth stages. Small business owners in Australia are looking to outsource more things. They want their accounting and business services to be handled by professionals only.

Source:https://www.mizaelpartners.com.au/blog/outsourced-accounting-services

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Benefits of using outsourced accounting services

Looking to outsource your accounting? Not sure how beneficial it will be to your business? 

Here are all the effective ways Outsourced Accounting Services can help your business grow, making it more profitable and thriving in the next financial year. 

No matter if you start small or large, the unapologetic impatience to grow your business is always there. As long as accounting and business services are concerned, hiring and training resources are some of the highest expenses business have to deal with. It also explains why most small and large organizations hire outsourced accounting services in Australia. 

 “Over a third of small companies currently outsource at least some of their operations.”

For every business owner, outsourcing can be an excellent way to save on costs and progress through their growth stages. Small business owners in Australia are looking to outsource more things. They want their accounting and business services to be handled by professionals only.

 There are many benefits of hiring outsourced accounting services. Let’s look at some of the top reasons why companies choose to outsource their accounting needs. 

Retain     Flexibility

Most third-party accounting firms in Melbourne provide a complete accounting department experience while delivering higher flexibility in managing business finances. Outsourcing also provides the flexibility to hire resources according to your specific needs, rather than committing to in-house staff, which can take years to break even on the cost.

Accountant services assist you with address all your fluctuating needs for accountants, bookkeepers, and CFO-level expertise. Once you've sailed through a busy season, you can easily switch back to all-in-house resources. Anytime you want, with no prior notice or breaking any commitments. 

2.     Benefit from top expertise

It may seem convenient to hire employees for every new project. While in the future, hiring and training temporary resources will not be the most cost-effective way to do it. 

While outsourcing firms can attract top talent since they are skilled at handling similar situations. Outsourced accountants with years of experience can offer the best industry skills and expertise in managing business finances. These companies also have better access to training courses that expand their skills and help you achieve the best results even in different or demanding financial situations. 

3.     Streamline the process with Automation

Many start-up owners find it tough to get things in place without investing in costly financial tech solutions. As your business grows, accounting process automation will be a necessary step to stay on top of all your transactions and cash flows. It is challenging for them to track and keep data free of errors when documents are being prepared manually. 

Outsourced accounting companies in Australia use software like XERO, QuickBooks MYOB, Google cloud-based products, and more. Accounting process automation can create efficiencies and accuracy in your business operation too. It streamlines your monthly payroll activities while efficiently managing payables, receivables, tax filing, and other bookkeeping requirements. To ensure you are business ready, with a healthier financial state. 

4.     Outsourcing Save Businesses Money 

One of the most attractive aspects of outsourced bookkeeping is that it reduces payroll costs, which arise from hiring an in-house team. Rather than allocating funds towards support and temporary hiring of staff. You get plenty of opportunities to address other business functions critical to increasing operating costs and efforts. It allows you to hire employees who are more integral to your core business functions

5.     Detailed insights and analytics 

Outsourcing offers insights you cannot simply get from a one-person or your in-house accountant. Accountants provide significant insights on transactions, income, and allocations while consulting on budgeting and financial planning. It gives you a clear picture of due earnings for your most common expenses. Help you generate more specific reports and make strategic financial decisions.

6.     Financial Consulting 

When you hire professional’s accountant services to outsource your accounting and bookkeeping needs. Not only do you get your work done but get access to top accounting professionals with years of experience in helping companies and industries like yours. 

For small business owners, Top Accountants in Ringwood can provide valuable advice and can help your business in many ways. You can get valuable insights and advice to plan and manage finances to make sure you stay financially profitable and find ways to scale your business in the future. 

7.     Stay focused on key business goals 

Another benefit of hiring outsourced business accounting services is to stay focused on critical internal operations while addressing current and future business goals. Be its customer services, maintaining quality in services and products, retaining existing clients, and having an ideal free cash flow. 

Outsourcing can help you not to get distracted by non-regular accounting tasks, such as managing taxes, preparing for an audit, and managing other business activity statements.

8.     Increased Brand Loyalty 

When you are not dealing with financial challenges and running with good cash flows. You get all the time in the world to find effective ways to improve customer service standards. Provide extensive support hours, take feedback, and improve product/service quality. Providing timely and appropriate assistance when they need it, makes your clients happy, satisfied, and impressed. This results in lifelong customer loyalty and less stress for you. 

Wrapping up

These benefits of outsourcing are only an overview of how things can change when you decide to outsource your tax and accounting essentials. 

Choosing the right outsourced accounting firm in Melbourne is one of the topmost concern most small businesses face. Yet, a better understanding of your budget and the services you want to outsource is enough to find a good business accounting firm in Melbourne.

Accounting made easy

Speak with one of our business accounting experts, give us a call at [phone] or visit our website today! We can also help with auditing, bookkeeping, and forensic accounting. 

Source:https://www.mizaelpartners.com.au/blog/outsourced-accounting-services

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Create a better financial planning for 2022–23

Including 8 key steps to financial planning, important to have healthy business for the new financial year 2022-23.and find the right accounting partner in Australia

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Accounting and bookkeeping - All major differences explained

In this Blog, find the unheard differences between accounting and bookkeeping, while both services are essential for smooth business functions, you should check out this to better manage finance and hire an accountant in Australia.

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How Chartered accounting firms are helping Small Businesses with their accounting needs

Starting a business and keeping up through all ups and downs is undoubtedly the most challenging part of the job. Right? You come across many financial challenges that many of you may or may not be…

Hire a Chartered Accounting firm for your businesses to manage your taxation and accounting services needs at the end of the financial year.

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What is Stock Audit? And how to find the best Stock Audit Services in Australia

Read this Article, to learn what is stock audit and how to perform stock audits internally as well as through third-party auditors in Melbourne Australia.

Read this Article, to learn what is stock audit and how to perform stock audits internally as well as through third-party auditors in Melbourne Australia.

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Tax Minimization Strategies for Small Business Accounting

In this blog, we share the top seven tax minimization Strategies in 2022, for SMEs. To get the best accounting services, Contact Mizael Partners and team

In this blog, we share the top seven tax minimization Strategies in 2022, for SMEs. To get the best accounting services, Contact Mizael Partners and team

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Bookkeeping Basics every Business Should Know — Mizael Partners

In this blog, we are sharing top bookkeeping basics to help small businesses, find their way to gain significant success managing and hiring bookkeeping services.

In this blog, we are sharing top bookkeeping basics to help small businesses, find their way to gain significant success managing and hiring bookkeeping services.