Technology and the cloud - use the best software 

"When we decided that our finance and administration systems were in need of a major overhaul, Ed Bernard from Formula Accounting was recommended. With a minimum of fuss a review of our systems was undertaken and a new accounting package in Xero was introduced. New and much more efficient systems for financial management and reporting were developed and introduced. We are delighted with the results and Ed continues to work with us to drive further improvements. We wanted a more efficient and cost effecitve system and thats exactly what Formula Accounting delivered"

Paul Madden - CEO, Wyatt Benevolent Institution Inc

For most small businesses, Xero is the leader when it comes to bookkeeping software. It is easy to use, cloud based, inexpensive - plus you can benefit from the incredible automation (hence reduced administration time).

The large ecosystem of other cloud based software partners that provide various "add on" programs will improve the way you do business, your cash flow and profitability. These "add ons" include industry specific booking systems to Customer Relationship Management (CRM), invoicing, debt collection, cost management, job management, workflow management, time recording, point of sale, inventory - you name it, it probably exists.

Formula Accounting are technology/systems focussed and are cloud implementation experts. 


CFO input and management reporting

Most likely for less than the cost you are paying now, just to meet your compliance requirements - being end of year accounts and a tax return - you can have access to an experienced financial professional and receive regular and meaningful management reports. The end of year accounts and tax return are included but are a by product of the service.

Formula Accounting has experience with and can help with all financial functions, including:

  • Budgeting
  • Cash flow analysis
  • Systems review and improvement
  • Strategic input
  • Negotiation with the bank

You should be freed up to work on the business, with the right information at your fingertips. 

Tax and Accounting

Financial statements and an income tax return? Don’t worry - that still happens. The only difference is that it is no fuss and no extra cost.

It is a by product of everything else, information is collected throughout the year, depreciation is calculated throughout the year. Instead of using a different accounting system to transfer your data into and prepare accounts from - and passing the cost on to you - we just share the same ledger.

No fuss. No additional cost. Just part of the fixed agreed fee.

Why settle for anything less?

We are proudly in Adelaide and would love to talk to you about the benefits of using Xero.

Aside from just saving you money, here are some compelling reasons to switch to Formula Accounting: