Everything You Need To Know When You Register a Company in Australia

If you’re starting a new company from scratch and you’ve never done so before, you might not know what to do or where to start. That’s where Thornton & Associates can help. We appreciate that launching a business is complicated and stressful, but we also know that hiring a qualified small business accountant from the very beginning is vitally important to the long-term success of your business. If you’re looking to launch and register a company in Australia, here are a few things you should know before you jump in.

The Process of Registering a Company

• Get an ABN. Your ABN is essential, and you can’t conduct any business without one. Make sure to fill the forms out correctly, so you get the right ABN for your business.

• Register your business name. Your business name should be unique so your clients and customers can differentiate you from your competitors. However, it shouldn’t be too far removed from your industry or the products and services you sell. After all, you don’t want to confuse potential customers.

• Register for tax. This is one of the most important steps and one of the easiest to get wrong. Not all taxes will apply to your business, so you’ll only need to register for those that do. If you’re unsure about what kind of tax you’ll need to pay, you should speak to one of Thornton & Associates’ professional accountants.

• Is your business a company? A company is different from any other type of business in that it is a legal entity in its own right. There are pros and cons to starting a new company, so make sure you discuss it in detail with your accountant before making any decisions.

Why Hire A Business Accountant To Help You Successfully Register Your Company?

When you hire an accountant to help you register your business from the beginning, you’ll ensure you get everything right from the start.

• Set your business up for growth. No matter how big or small your business is, we can help you set goals and create plans to grow your business gradually. You’ll be able to make informed decisions from the beginning with the guidance of your experienced accountants.

• Avoid costly mistakes. Any errors made during your business registration could come back to haunt you later on in the way of unpaid taxes or fines. It’s always safer to enlist the help of professional accountants early on.

• Start on the right foot. The team at Thornton & Associates are Xero partners, so we’re the Xero accounting software experts. This cutting-edge technology allows us to streamline your accounting and payroll processes from the very beginning, so you’ll never have to worry about the finicky details of accounts.

• Focus on what needs your attention. When you’re starting a new company, the last thing you want to do is spend most of your time worrying about accounting and business registration. With things like websites, inventory, marketing, and operations on your mind, you simply won’t have the time to pay your accounts the high level of attention they need. Instead, leave all that to Thornton & Associates and get back to doing what you do best; running your business.

Why Choose Thornton & Associates For All Your Accounting Needs?

There are a few reasons why Thornton & Associates are one of the leading accounting firms in Sydney for new businesses and start-ups.

• We’re passionate about your business. When your company is just launching, that’s the most crucial time for practical, proactive accounting. The Thornton & Associates team wants to see your business grow and flourish, so we offer tailored accounting solutions that allow you to focus your attention on other important details of starting a new company.

• We have plenty of experience. Our accounting team has years of accounting and bookkeeping experience across several industries. We’ve worked with businesses of all shapes and sizes, so you can rest assured that your accounts are in the very best of hands.

• We offer a wide range of digital services. No matter what your new business needs, Thornton & Associates can take care of it. We’ll help with;

  • Payroll and bookkeeping

  • Initial setup help such as business name registration, GST registration etc.

  • Training for Xero accounting systems

  • Reporting as needed for your business

  • Wealth growth strategies

  • Income tax services for individuals, sole traders, and businesses

  • Business advisory services

• We’re entirely paperless. Thornton & Associates are a digital accounting service, meaning we’re entirely paperless. When you enlist our services, you’re not only reducing your carbon footprint, but you’re also reducing clutter in your office. We’re Xero partners, so we use Xero’s cutting-edge accounting software with each of our clients. Everything needed for your business’s accounts is available on a database, which makes searching for a specific document or reports so much easier for both you and us.

• We’re renowned for our customer service. Communication is our number one priority. The Thornton & Associates team understands the importance of clear, honest communication, so we’ll make sure you’re always informed on all aspects of your business’s accounts. If you ever have questions about your finances, budgets, forecasts, or you’re seeking advice to grow your business, your virtual accountant at Thornton & Associates is always ready and willing to help.

If You Need Accounting For A New Business, Call Thornton & Associates Today

At Thornton & Associates, we do things a little differently. Even though the world is changing, evolving, and becoming more digitised, we noticed that the accounting industry lagged. We decided to bring innovation to accounting and become one of the first completely paperless practices in Sydney. We’re committed to using cutting edge technology and the latest accountancy software to provide our clients with practical, tailored accounting and business solutions. No matter what industry you’re in, Thornton & Associates can help you with all your finance management needs. If you’re trying to register a company in Australia, Thornton & Associates’ team can help. Give us a call or email us today to find out how we can help your business grow.

Our Story

Thornton & Associates was established to address the severely under serviced needs of growing and mid-sized enterprises in Australia. These businesses were in need of two tiers of help, that typically only large and multinational corporates were able to avail themselves of: firstly, the automation of basic day-to-day accounting operations; and secondly the provision of timely business consulting and tax advisory that is enabled when the books are able to take care of themselves.

As this two-tiered service strategy permeated the market, clients of Thornton & Associates realised that the considerable time and effort spent keeping ahead of accounting work that our firm could automate, is overwhelmingly better spent leading and strategising the operations of their respective businesses — and resulted in enduring business success.

REGISTER YOUR COMPANY NOW

We have partnered with accountedfor - a fast, digital ASIC connected platform to register your Australian Private Company (Pty Ltd) online now. You can get started trading in a new company by providing director and shareholder details online and paying by credit card in minutes.