Page 45 - Tropic Magazine Issue 12

Industry
Accounting

Making it account

GKS Chartered Accountants
are at the forefront of the
SME sector, and there’s a
sense of positivity among
their client base.

Few businesses get a front row seat to
the ups and downs (and the profits and
losses) of a city’s economy quite like an
accountancy firm with a host of small
businesses on their books. Every other
day, they’re checking the pulse of local
businesses across a broad spectrum of
industries, monitoring tax obligations,
advising on cash low and meeting
regulatory requirements. Greg Stanton
from GKS Chartered Accountants has
been under the hood of local small
businesses for nearly 7 years now.
During that time he’s witnessed Tropic talks to Greg about his team at What type of issues are businesses
first-hand the ebb and low of the GKS Chartered Accountants, their coming to you looking for advice on?
Cairns economy. Ever since the Global services and the types of problems their e most common questions we’re
Financial Crisis hit Cairns hard from clients seek solutions for. asked to advise on are topics like ways to
about 2008 onwards, it’s been mostly in make more profit and how to structure
the “ebb” phase. Tell us about your business and your team. a business to minimise tax liabilities.
Until now, that is. ankfully, Greg’s GKS Chartered Accountants was
starting to sense some positivity among established in July 2011. I’m a chartered What type of services do you o fer
his clients as Cairns enters a new phase accountant with 14 years in the through Xero, and why are they
of investment and growth. profession. We have six great sta f popular with businesses?
members comprised of four We can customise reports in Xero
accountants, one bookkeeper and an specifically to our clients. Our
o fice manager. bookkeeping clients get monthly
management reports and their accounts
What services do you provide and are kept up to date on a daily basis.
specialise in?
Our key focus areas are accounting, tax, How do you see the Cairns economy at
and business services, plus the moment? What are your clients
bookkeeping and audit services. GKS telling you about the state of the local
prides itself in getting to know its economy?
clients and devoting time to tailoring Finally, there is a positive vibe in the air.
GREG STANTON’S reports which focus on critical aspects Most of our clients are busy and looking
TOP 3 TIPS FOR of each business. In certain cases, this to put on additional sta f.
reporting means the di ference between
SMALL BUSINESS business failure and success.
MORE: gksca.com.au
01 / Know your numbers. Business Why is it important to go to a
owners need to understand the professional, local firm like GKS
documents we prepare for them. Chartered Accountants for accounting
02 / Have a current business plan. and business advice? Doesn't the
If you fail to plan, you plan to fail. internet have all the answers!
To get the most out of your business
03 / Put a budget in place. Most you need tailor-made solutions specific
businesses aim at nothing and hit it to your business. ere is only so far the
with tremendous accuracy. generic Google responses will take you.