How Accounting Should Be
The Sumo Accounting Way

how accounting should be

Your accounting should be more than just reporting tax to the ATO.

It’s about understanding how to use all the available information to make decisions crucial to your business success and growth.

At Sumo Accounting, we group this information into three core elements;

Business Analytics

  • An effective growth strategy gives you confidence to make the decisions required to grow your business
  • This is built by understanding and analysing your customers, market & product/service
  • We use this measured information to see how and where growth can be achieved

Management Reporting

  • Management reports are crucial for your business management
  • They track your income + expenses in a way that is easy for you to use and make decisions with
  • This is what MYOB, Xero or Quickbooks are for, or even an Excel spreadsheet!
  • These are the figures that will measure the success of your growth strategies and will form the basis of your financial reports.

Financial Reporting

  • Financal reports include financial statements + tax returns
  • These reports are prepared using a standardised format
  • Financial reports are prepared specifically for third parties like ATO, the Bank and even potential investors.