Connected finances.
Separate responsibilities.
Accounting and tax support for Glenhaven owners with a company, trust or personal return to coordinate. Keep the whole picture visible without mixing the records.
When your business and personal finances connect, one annual tax question can depend on records held elsewhere. Target Advisory helps Glenhaven clients coordinate agreed accounts and returns while keeping each entity’s obligations and engagement scope clear.
Two views of the same working relationship.
The business view
Identify each entity, its accounting file, bank and finance accounts, and the last completed accounts. Note who supplies records and which BAS, returns or other work require attention.
The focus is on balances supported by evidence and a clear explanation of transactions involving owners or related entities.
The owner view
Identify the personal returns included, income records held outside the business, and business expenses paid from personal funds. Highlight changes in work or ownership that may need a separate advice engagement.
A business engagement does not automatically include every family member or related entity. Those boundaries belong in the proposal.
Make a one-page entity map.
List each company, trust or individual return you want covered. Against each, record the accounting system, person responsible, relevant year and outstanding work. Then mark transactions that connect two entries.
For example, an owner may pay a company expense personally, transfer funds to support operations and later receive money back. Those movements need descriptions and supporting records, not one generic category for every transfer.
Illustrative preparation exercise: draw a line between the two parties to a transaction and write what the payment was for. When the purpose is unknown, mark it as a question for review rather than guessing its treatment.
Work backwards from the information needed.
- Map the scope. Agree the entities, returns, periods and records involved.
- Resolve shared questions. Trace related balances and obtain explanations before finalising the accounts that rely on them.
- Coordinate preparation. Organise the sequence of the agreed business and individual work.
- Separate advice from preparation. Define any structure, ownership or transaction advice as its own task where appropriate.
We can work with your existing bookkeeper and coordinate accounting information with your solicitor when authorised. Legal documentation and legal advice remain with the relevant adviser.
Clarify the engagement before the work starts.
Can you prepare my company return and personal return?
Yes, where both are agreed. The proposal identifies each return and the preparation required, including any missing bookkeeping or historical work.
Does bringing the work together mean changing my structure?
No. Organising the records is different from recommending a restructure. A proposed change needs its own assessment before action is taken.
Can annual-only work suit this arrangement?
It can, where the records and responsibilities are clear. Ongoing accounting is available when questions and preparation need attention throughout the year.
Start with the map, then agree the work.
Glenhaven appointments are available online with Vishal Bishnoi, CA. Our office is at Level 25, 100 Mount Street, North Sydney, with meetings by arrangement. Read about the records behind owner payments, or compare one-off accounting fees.