- Unit 25, 42 Bundall Road, Bundall QLD 4217
- | Mon to Fri 8:30am to 5:00pm
- hello@elev8ba.com.au
- 0425 609 720
Specialist accounting, tax, and advisory services for construction and property professionals.
Gain clear visibility into product, category, and channel profitability by understanding the true cost of sales, including fees, freight, and inventory costs.
Improve stock control, increase inventory turnover, and reduce cash tied up in slow-moving or excess stock.
Receive strategic advice for online growth, new store openings, product expansion, and other key business decisions.
Stay compliant with expert management of financial statements, tax returns, BAS, payroll, STP reporting, superannuation, payroll tax, FBT, and tax planning.
Financial statements, tax returns, BAS, payroll reporting, STP, payroll tax, FBT, QBCC MFR reporting, and superannuation.
Preparation and lodgement of Fringe Benefits Tax returns where required.
Enough to avoid stockouts on your best-performing lines, and as little as possible of everything else. Excess inventory ties up cash, increases storage costs, and often leads to markdowns. A useful starting point is tracking your inventory turnover ratio by product category. Low turnover categories are worth reviewing for ranging decisions. For importers with long lead times, the calculation also needs to account for reorder cycles and minimum order quantities.
For sales to Australian customers, GST applies in the same way it does for in-store sales. For sales to overseas customers, the supply is generally GST-free. If you sell through platforms like Amazon or other digital marketplaces, the platform may be responsible for collecting and remitting GST on your behalf depending on the arrangement. For businesses importing and reselling, GST is also payable on the importation itself. This area is worth reviewing carefully if you’re operating across multiple channels.
At least quarterly, with a more detailed review annually. Not all products contribute equally – some drive volume but erode margin, others carry strong margin but low velocity. A product-level profitability review accounts for landed cost, platform fees, and your true cost of holding and handling stock. This is often where the biggest margin improvement opportunities are found.
Gross margin by product category, inventory turnover, average transaction value, return rate, and operating cash flow. Revenue on its own tells you very little – a retail business can grow revenue while destroying margin. Monthly reporting that tracks these metrics gives you early warning of problems and a clearer picture of where the business is actually heading.