At Glance Consultants our experienced team is committed to providing a personalised service to meet our clients’ diverse needs. We offer up-to-date, tailored advice and take great pride in ensuring our clients are well-equipped with the knowledge & skills they need to succeed. Read More
Our Services
We provide a tailor made service to our clients to meet their specific needs.
Business Taxation Services
- Business Taxation Advisory & Planning
- Taxation Audit Support and Australian Taxation Office Liaison
- Preparation & Lodgement of Annual Taxation Returns
Business Advisory
- Management & Financial Reporting
- CFO Services
- Strategic Business Advice & Planning
- Due Diligence Process – Purchase of Business
- Cashflow Management, Forecasting and Budgeting expertise
Individual Taxation Services
- Taxation Advice & Planning
- Preparation & Lodgement of Annual Taxation Returns
- Taxation Audit Support and Australian Taxation Office Liaison
Self-Managed Super Fund
Taxation
- Formation of Self-Managed Superannuation Funds including all required registrations
- Financial Statements and Returns including the preparation of Annual Accounts, Member’s Statements, Income Tax and Regulatory Returns
- Self-Managed Superannuation Fund Audits
Audit and Assurance
- Self-Managed Superannuation Funds (“SMSFs”)
- Owners Corporations
- Solicitors’ Trust accounts/External Examination for Lawyers
- Real Estate Agents’ Trust accounts
Bookkeeping Services
- Xero Accounting Software Integration
- Bank account and credit card reconciliations
- BAS Services
- Payroll Services
Wealth Creation & Risk Management
- SMSF (Establishment & Wind up)
- Financial & Investment Advice
- Property
- Lending & Finance Solutions
- Insurance services
- Estate Planning
Latest News
Client Testimonials
Glance Consultants provided us with invaluable guidance in setting up our unit trust and corporate trustee. We also use their expertise on an ongoing basis for both our business and individual accounting needs. Kavi and the team are always ready to answer our questions. We have no hesitation in recommending their services.
Just wanted to mention how happy I was with your service. Thank you very much for your quick turnaround and a very healthy return, appreciate that you made it so simple and painless. Highly recommend to anyone else who is interested in getting their tax done .
Tips on Effective Debt Management for the Business Owner
Debt, when managed responsibly, can be an effective tool for the following purposes:
- Financing Expansion
- Buying Equipment
- Smoothing out Cash Flow
However, poorly managed debt has the potential to create devastating financial distress. As such, we’ve put together some of the most important debt management tips:
Know Your Debt Situation
You need to first know your current debt situation. This involves listing all your debts, including:
- Loans
- Lines of Credit
- Credit Cards
- Any Unpaid Bills to Suppliers (Trade Credit)
Calculate key ratios such as the debt-to-asset ratio, which is the total debt over total assets, and the debt-to-equity ratio, which is the total debt over owner’s equity. This will give you the leverage status within your organisation.
Create a Realistic Budget and Cash Flow Projection
Having a realistic budget and cash flow projection is also crucial to managing your debt. This involves the following:
- Projection of Income and Expenses
- Estimating your Expected Income and Expense over a Specific Period (month-to-month or quarter-over-quarter)
Most importantly, ensure your budget has decent provision for taking care of debt servicing on
Time by budgeting for the activity.
Payback Debts
Prioritise by interest rate and pay off high-interest debt first to save long-term interest costs. Consider the collateral supporting the loans. Secured loans, such as loans against company assets, may involve a greater risk of losing assets in case of default.
Notify the Lenders
If you see difficulties in making your repayments, contact your lenders as soon as possible. They might consider renegotiating changed conditions, such as longer loan terms, or reduced repayments in The short term..
Some lenders also have specific programs which will assist businesses in financial stress, so enquire about hardship assistance.
Monitor and Review Regularly
Managing debt is an ongoing activity. You need to monitor your level of debt, cash flow, and financial performance on a regular basis.
Always change your budget and debt management concepts as necessary .
Seek Professional Advice
Don’t be afraid to seek help. Accountants may help you analyse your finances and prepare a budget. They will also make certain relevant suggestions regarding debt management. Financial advisors will help you about debt consolidation, refinancing, etc.
Getting on top of your business’ debt doesn’t have to be scary. Glace Consultants can help you devise a plan to address your debt. Don’t delay- contact our staff now for a discussion.
