SOLD
Accounting Firm - Murray Region NSW

This long-standing accounting firm served SME and SMSF clients across the NSW/VIC border and was established over 20 years ago in the Murray region, generating fees of approximately $1.6 million. Its broad-ranging services extended beyond basic compliance, predominantly working with business clients and SMSFs while also handling some individual returns. The practice experienced steady growth, primarily driven by referrals from existing clients.

Key Highlights:

Client Base: In FY 2023, the firm serviced 490 client groups with an average annual fee of $3,655. Fee distribution included:

• 41.2% in the $5K to $10K range
• 15.7% in the $10K to $30K range
• 13.5% exceeding $30K

The top 20 client groups contributed 26% of revenue, with the largest client representing 4.6% of fees.

Lodgements: In 2023, the firm completed 902 lodgements, including:

• 636 individual returns
• 64 partnerships, 69 trusts, 90 companies, and 43 super funds
• 168 quarterly BAS and 181 corporate secretarial lodgements

Average billing per lodgement was $1,432.

Staffing: Supported by a team of professional staff and support personnel.

Technology: Hosted files on an internal server while using a mix of in-house (Handisoft, Securities Tax Manager, BGL) and client cloud-based software (MYOB, Xero, Reckon Accounts, QuickBooks).

Premises: Owned by the principals, with no formal lease. While continuing at the current location was preferred, relocation was an option.

The practitioners planned to retire but were available to assist with a transition for up to 12 months, initially full-time before scaling back to part-time, ensuring the smooth transfer of skills and client knowledge.