When you’re running a trade business, there’s always something demanding your attention – quoting jobs, managing staff, ordering materials, dealing with clients, and trying to keep the cash flowing. So when it comes to your finances, you should be able to rely on your accountant for more than just tax time support.
But what does that actually look like?
If you’re not sure what you *should* be getting from your accountant, here’s a breakdown of the kind of support a trade business truly needs – and deserves.
1. More Than Just Tax Returns and BAS Lodgements
Yes, your accountant should be lodging your BAS and preparing your tax returns. That’s the minimum. But the real value comes from what happens outside of those obligations.
A good accountant will take the time to understand your business, not just your numbers. They’ll help you plan for the year ahead, stay ahead of your tax obligations, and avoid nasty surprises. They’ll explain what’s going on in plain English so you always know where your business stands.
If all you’re getting is a once-a-year email and a tax bill, you’re missing out on real support.
2. Business Advice That Helps You Grow
Running a trade business is hard work, and sometimes you need more than compliance help. You need someone in your corner who can help you make better decisions, spot opportunities, and solve problems.
Whether it’s understanding which jobs are the most profitable, how to manage rising material costs, or deciding when to take on another team member – your accountant should be able to provide insight based on your numbers and your goals.
You shouldn’t feel like you’re figuring it all out on your own. That’s what advice is for.
3. Support With Cash Flow and Financial Planning
Cash flow is the lifeblood of any trade business – especially when payments can be irregular and expenses stack up fast.
Your accountant should be helping you stay in control of your cash, not scrambling when things get tight. That means setting up forecasts, reviewing your income and outgoings regularly, and helping you plan for quiet periods or big investments.
They should also be helping you look ahead – not just to next month, but to the next few years. That includes budgeting, planning for growth, and making sure the financial side of your business supports your bigger goals.
4. Structuring and Asset Protection Advice
The way your business is structured matters – not just for tax, but for protecting your personal assets.
Whether you’re a sole trader, operating through a company, or considering a trust, your accountant should help you understand the pros and cons of each option and make sure your structure fits your situation.
They should also help you plan how to buy new assets, grow your business safely, and avoid putting everything at risk if something goes wrong.
5. Help With Building Personal Wealth
Your trade business should be a tool for building long-term financial security – not just something that pays the bills.
A good accountant will help you think about the bigger picture. That means building super, reducing debt, investing profits wisely, and planning for life after business.
This kind of support helps ensure you’re not just working hard in your business, but that your business is working hard for you.
So, What Are You Getting?
If your accountant isn’t doing more than the basics – if they’re not giving you advice, helping you plan, or showing up when you need them – it might be time to ask if you’re getting what your business really needs.
At the end of the day, your accountant should be a key part of your support team. Someone who understands your business, backs you up, and helps you build a stronger, more profitable future.
Get started right away and contact us for a FREE Business Financial Health Check.
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.
