Accounting services for child care centres
The number of children being born in Australia is on the increase. And the economic reality for today’s young families is that both parents need to work.
The need for quality child care has never been greater.
Child care is one of the most heavily regulated industries in Australia, and the rules are constantly changing. Staff costs are rising rapidly due to higher qualifications being required by the Government, as well as greater staff to children ratios.
Nevertheless, a well run child care centre can be profitable, but one that is not well managed can quickly incur losses and run out of money.
Establishment costs can be high, so adequate capital and finance is required.
Some of the issues which must be addressed by owners, and which we can assist with, include:
- How much and what type of finance is required.
- Applying for finance
- The right structure both for asset protection and tax planning
- Implementation of accounting systems
- Establishing and monitoring of key performance indicators
- Monthly financial reporting
- Due diligence if buying
- Assistance with selling
- Payroll
- Compliance with GST and BAS obligations
At RCR Financial Group we have experience in assisting Child Care Centre operators in all the aforementioned areas, including ongoing financial reporting and analysis of profit margins which is so important in managing a centre.
We will assist in implementation of modern accounting systems and software to reduce the time you need to spend in attending to compliance, and ensure that all compliance documentation is correct.
No matter what size your centre, we have the necessary experience and knowledge to help your business.