As a leading accounting, audit and business advisory firm, we specialise in supporting the manufacturing, wholesale and retail sectors. Because these industries can be quite volatile in terms of costs, businesses require precise financial management to keep on top of production costs, inventory, cashflow, and optimised pricing. With our expertise in accounting for manufacturing, wholesale and retail businesses, we can help clients with all this and more.
Who we help
These are just some of the manufacturing, wholesale and retail client types we provide accounting and business advisory services for:
- Manufacturers
- FMCG
- Importers
- Clothing manufacturers
- Commodities (i.e. sugar)
- Robotics and electronics
- Fabricators
- Machinery and equipment
- Packaging makers
- Plastics and chemicals
- Family-owned operations, franchises, chains
We believe the best minds in our business are the best minds for your business
We know some of the challenges you face
Operating in the manufacturing, retail and wholesale industries comes with its own set of challenges and requirements, including:
- Exchange rate risks
- Supply and sell contracts
- WET (wine equalisation tax)
- Tight margins
- Cashflow pressures
- Increased pressure to discount stock
- Financing issues
- Maintaining high levels of working capital
- GST matters, including deferred GST
- Fluctuating costs
- Juggling staff, suppliers, contractors and clients
- Production and delivery delays
- Competition from major company groups
- Struggling to access accurate estimates, models and other calculations
- Ongoing work to stay on top of the relevant regulations, including R&D tax credits and industry-specific deductions
- Ensuring you meet your obligations including tax payments
- Not having someone reliable to handle bookkeeping and financial admin
- Lack of time to focus on strategic planning
- Ineffective inventory management, which can tie up capital in excess stock
- Unpredictable and fluctuating sales cycles
What we can do for you
BG Private offers comprehensive accounting for manufacturing, retail and wholesale clients, ensuring that all aspects of your business’s financial health are monitored and optimised. We provide:
Tailored financial strategies
We work closely with you to create financial strategies that drive your business goals. Whether you’re looking to expand operations or improve efficiency, our accountants will guide you every step of the way.
Cost management
We provide detailed cost, pricing, sales and profits analysis and financial reporting, helping you optimise expenditure, increase profits and make more informed decisions.
Inventory optimisation
We integrate advanced inventory management practices with your financial systems to ensure you’re never over- or understocked. This is critical for both retail and wholesale operations, where stock levels directly impact cashflow.
Tax efficiency
Our team stays on top of industry-specific rules and regulations, ensuring that you benefit from every possible deduction and credit available to your business. For manufacturers, this can include R&D tax credits and capital asset allowances. In addition, our experienced team can also provide you with tailored tax efficiency guidance relating to things like the purchase of supplies, fixtures, equipment.
Holistic advice
We have accountants, bookkeepers, management accountants and tax advisors all in one place meaning your situation can be reviewed from all angles.
Accounting for cross-border transactions
Whether you manufacture offshore yourself or import and distribute goods made at a third-party factory, our accountants can help you with the relevant global accounting and tax implications.
Our services
Bookkeeping and accounting
Our Accounting & Business Advisory team ensure everything from your payroll and monthly financial reporting to your tax obligations and accounts are in order.
Management accounting
We provide the relevant data, insights and forecasting; business performance benchmarking; tracking of income, expenses, assets and liabilities; breakeven analysis; working capital management and forecasting; and budgeting / cost cutting advice.
Business advisory
Our experienced advisors can advise on the most effective business structure, conduct pricing reviews and scenario modelling, give clarity around your revenue and profit drivers, and work with you on growth strategies.
Tax planning
Our Tax Advisory division helps ensure your compliance with the relevant local and global tax obligations while minimising your tax liabilities. For manufacturing, this includes advice on things like tax credits for innovation and capital investments. We can also provide GST-related advice and planning such as margin scheme and going concern. Our experts can also provide you with strategies relating to land tax and stamp duty as it relates to your commercial properties.
Audit and assurance services
Our auditors can give you the confidence you need to make informed business decisions. We help ensure the integrity of your financial statements, safeguard against errors, and confirm that you meet the relevant compliance standards.
Corporate advisory
We can provide strategic advice to help your business grow. This can range from things like optimising your board structure all the way to advice on mergers and acquisitions.
Property advisory
Whether you own or lease your commercial, retail, or industrial space, our property advisors can help maximise your situation. And if you’re looking for a new office or retail space, we can help you reach the best possible outcome.
Positive outcomes you can expect
Improved financial control
Accurate accounting for manufacturing businesses leads to better cost management, enabling you to identify inefficiencies and improve profitability.
Optimised cashflow
By forecasting future needs, managing expenses, and ensuring timely collection of receivables your business can enjoy steadier cashflow.
Confidence in your pricing structure
By giving you clarity around true costs, we can recommend product margins and assist with price setting.
Tax savings
Through strategic tax planning, we ensure you take advantage of all available deductions and credits, ultimately reducing your tax burden.
Enhanced decision-making
With detailed financial insights and forecasts, you’ll be able to make more informed business decisions that drive growth and success.
Regulatory compliance
Whether you’re in manufacturing, retail, or wholesale, we ensure that your financial operations meet all legal and regulatory standards, protecting you from penalties.
FAQs
You should check and reconcile transactions daily to ensure accurate financial records, identify discrepancies early, and maintain cash flow control. Regular reconciliation also helps prevent fraud and errors in your retail business.
Integrating inventory management with your accounting systems streamlines operations, improves accuracy in stock levels and financial reporting, reduces manual data entry, and provides real-time insights for better decision-making.
A bookkeeper helps a manufacturing business by tracking production costs, managing inventory, ensuring cash flow stability, handling payroll, and maintaining compliance with tax laws. They provide accurate financial records, enabling better cost management and informed decision-making.
Learn more!
If you’re looking for expert accounting for manufacturing businesses or need tailored financial solutions for your retail or wholesale operation, contact us. Our experienced team is ready to help you achieve your financial goals and overcome any challenges your business may face.
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