How to Forecast your Sales

/in , /by

Budgeting is part of operating a business. This task includes predicting your sales and distinguishing your Key Performance Indicators (KPI) to help you in preparing your budget.

When you have come up with a figure, you and your team now have targets to meet so it’s worth all the effort. So, where do you begin?

Use this 3-step method to forecast your sales.

1. Look at your sales history

You have a sales history, except if you are launching a brand-new business. Even one week’s worth of sales is still sales history. Use it.

Your Point of Sale (POS) system can be used not only to serve customers but also to obtain all sorts of data that you can use for budgeting.

  • Transaction reports: tells the number of customers served by the business daily, weekly, monthly, etc.
  • Average Spend: seen in the transaction reports, this is how much each customer spends on their visit to your store
  • Sales Reports: show the sales flow for a business, or the actual sales daily

You can use this as a starting place from which to forecast your sales. Of course, you want to raise these numbers, but identifying your starting point helps you predict where you can end up.

If you don’t have a sales history, talk to other businesses in your field, your buying associates, or seek help from the ATO. These agencies can provide you with sales benchmarks for any industry you can think of.

2. Find what your KPIs are

A detailed review of your reports will help you find out what your KPIs are. You can always improve your KPIs. You want to predict your sales not only because you aim to improve your future sales and expand your business, but you also want to be able to talk to your team more effectively.

Here are the KPIs you should look for:

  • Average spend per customer
  • Number of transactions daily
  • Sales per day

Sales will not be the same all the time. Determine your busiest days and slowest days. With your KPIs, you can teach your team ways to boost sales and also give them a daily sales target to meet. By identifying and boosting your KPIs, you improve sales, and in turn, your profit.

3. Ask yourself “What if?”

You go through steps 1 and 2 to forecast your sales. For step 3, play the “what if?” game.

  • What if I raise the figure for the average spend per customer by only $1 or $2 or 10%? How would it impact my turnover?
  • What if I succeed in enticing customers to make one more visit to my store every week? What difference would it make on my sales?

To compute this, multiply the number of current weekly transactions by a higher number, say 10%. Multiply the average spend for each customer by this figure in visits to find out how much your sales would increase. Then do the same thing using a 20% increase, and so on. Tinker with the numbers. Place these new sales numbers into the top line of your budget, and look at how it impacts your turnover.

After determining your sales budget for the year, break the figures down into weeks to come up with your weekly sales budget.

You can even break it down further into days to get your sales flow. However, always remember that you made all these efforts to forecast your sales because you are sharing these targets with your team.

Forecasting sales and turning it into reality are two separate things. There’s only one way to make it real: share it with your staff and push them to meet the daily sales targets.

It is essential for a business to forecast their turnover. PJS Accountants offers accounting and other bookkeeping services to individuals and companies, big and small. Allow our team to assist you in reviewing your sales history and determine a realistic sales budget for your business. Contact PJS Accountants for enquiries.

Put Selling Out of your Mind; Build Trust

/in /by

It’s likely that you have purchased something from someone you don’t trust. But it’s doubtful that you’d dealt with the same person for a second, or even a third time. This is because it’s human nature not to deal with people that we don’t trust.

Buzz words like solution-selling, strategic-selling and more recently social-selling are all over today’s marketplace. You can easily get confused on where to get started with selling your product or services.

If you are considering launching a new business, product or service, or expanding an existing one, the best to go about it is to first establish trust.

All relationships are based on trust. As a result of building good relationships, a business becomes more stable and gets good sales. It sounds easy, but it is actually hard to identify what trust really is.

To begin understanding it, let us use David Maister’s Trust equation, taken from his book “The Trusted Advisor.”

Trust = Credibility + Reliability + Intimacy
Blank fieldSelf-Orientation

Credibility

Know what you’re talking about.

Familiarise yourself with your product or service and learn the market you are entering. It will look good if you do. Being familiar with it will bring your conversations up to date and will allow you to grab attention.

Remember that it isn’t about boasting a list of features or making a 10-minute sales pitch. It is about what you need to know about the market or sector you’re operating in, or some great testimonials from your customers.

Reliability

Do what you say you’re going to do.

If you receive an offer for your product, make sure you keep it simple and you deliver. When meeting with customers, be early or at least be on time. This shows that you can be relied on.

If you are shipping or delivering products, deliver them to your customers prior to the deadline. Such a simple act leaves a good impression and will probably make them your advocates. These people are the most effective sales tool available to businesses.

Intimacy

Genuinely care about the people you are dealing with.

Your service or product becomes valuable to people if something in it contributes to their success. It is also not just about the item you’re selling, but more importantly about your insights or connections with other people, to sincerely assist them in whatever they are striving to achieve.

Self-Orientation

Don’t communicate with your customers only when there is a benefit to you.
Avoid calling your meetings “sales meetings” because you are likely to be actually doing this. Some people hate talking to sales people because they think that they’re only talking to them because of a possibility of making a sale. Never make people feel like they are a walking dollar sign.

We erode trust each time we behave only for our own gain. If you can deal with people or prospective customers with the goal of striving to offer value, then you are well on your way to establishing trust.

By understanding the above components, you can determine the best way to operate in your selected market. Define a clear purpose that adds value to the person you’re dealing with during meetings or market communications.

Each individual you deal with should be willing to advocate for your product or company on your behalf. They will do this if you have built trust with them.

Are you looking at outsourcing your bookkeeping, accounting and other business-related processes, but still wants to remain in control and make the big decisions for your business? We have has over 30 years’ experience with local businesses in Capalaba, Cleveland and the Redlands. Our team will be at your disposal, ready for your call to assist you to stay in charge of all aspects of your business. Contact PJS Accountants on how we can help you improve your business.

Tips to Getting Paid Faster while Maintaining your Business Relationships

/in /by

How do your invoices in order without ruffling the feathers of your customers and suppliers? Here are some tips:

Know your customers

You can easily get information from credit reporting agencies to analyse payment problems in keeping with historic trends. This way you can adapt your approach as necessary. For example, when the information tells you that your customer is recently failing in meeting payment deadlines, you can implement stricter terms of payment. Similarly, if your customer has been good in making payments, you don’t need to worry immediately if they get delayed for a few days.

Put expectations in writing

Give your customers official documents at the beginning of each project, so you don’t wait until payment day to talk to them with payment problems. It is not over the top to have Official Terms and Conditions in writing. It is a simple way to let your customers know the method of payment you prefer, the number of days your customer are allotted to pay, and the actions you will take when they are late in paying the bills.

Make it easy for customers to pay you

Sometimes the blame for late payment lies on you, specifically in the manner you prepare your invoices. Your paperwork must be accurate and easy to follow, so your customers don’t need to ask too many questions. Itemise each cost and include all your bank information and contact numbers, even if you think you’ve already given them to your customers or suppliers.

Money discussions

You may not want to damage the good working relationship that you’ve worked so hard to establish with your customers with uncomfortable talks about money. If you don’t have an accounting staff to do this task for you, talk to theirs. This will make sure you maintain your day-to-day relations while still collecting money on time.

Talk to a good accountant to help you send out invoices and collect payments on time. PJS Accountants offer the help needed to handle accounting, compliance, and strategic planning challenges. We provide a range of services that assist in reducing the challenges businesses face – so you can have more time to do what you do best, and that’s running your business effectively. Contact PJS Accountants for enquiries.

6 Things to Remember when Working with Outside Suppliers

/in /by

Almost all businesses must work with third party suppliers in some form. This may include the supply of material goods such as retail stock or parts for your business’s manufactured products, or rendering of services such as skills outsourcing or tech support.

Whatever the capacity is for your external working relationship, there are some important things you need to be aware of when engaging with any outside supplier.
Achieve the best outcome for everyone when working with your suppliers by following these 6 helpful tips:

Be realistic

You won’t get all the things you want from a supplier. You need to compromise and this compromise typically takes the form of one of three ways: Time, Quality or Price.

Your expectations of your suppliers should be realistic. Select the item that is most essential to you, like the highest quality items, and be willing to make concessions on Time and Price.

If you are lucky to find a supplier who can offer the best price, time and quality – hold on to them.

Pay on schedule

Any business relationship should make this the first rule. Sadly, this basic courtesy is often ignored, so it must be emphasised. Pay your bills on time to establish a strong relationship with your suppliers. Always remember that they are also operating a business, just like you are, and are depending on you paying them to avoid cash flow problems.

There’s also a benefit for you when you pay on time. You will be seen as a good risk by your suppliers, and be likely favoured over inconsistent payers. You will create a stronger relationship, and if money becomes tight in the future, your suppliers will likely go easy on you, and may even grant you better payment terms.

Talk to your suppliers as soon as possible if you ever experience problems with payments. Never forget to pay your bills and don’t make a practice of making late payments, because this would damage your relationship over time.

Be transparent

Being transparent doesn’t mean you have to disclose all your business secrets. It just means that your suppliers should know where the stand in your business.

Ask them to come to your place of business, so they can witness how your product or service works. Make your production schedules available to them, so they can be aware of the peaks and troughs in your business. Make sure they are aware of how their goods or service is important to your business.

Be honest

If different vendors are supplying you with the same goods or service, don’t make a secret of it. It is important for your suppliers to know the necessity for contingencies and backup plans. It would also benefit you to foster a bit of healthy competition among your suppliers.

Exercise honesty if a supplier doesn’t fit into your business. Don’t just drop a supplier; tell them why they’re not meeting your requirements. If circumstances will allow, give them the opportunity to improve or remedy the problem

Be friendly

Do you want to be in a relationship (personal or business) with someone you dislike? Your answer would most likely be “NO.” It is human nature to choose to connect with people to whom we have a vested interest in.

Conduct your business relationship in a similar manner. Ask your suppliers to attend your parties or functions, and make sure they know and feel that they’re an integral part of your business. If mistakes or miscommunications happen, try to be civil, and deal with problems together.

Be smart

Don’t deal with a supplier haphazardly. Expect a disastrous outcome if you give too much unearned trust at the start of your business relationship.

Do your research before signing up a supplier. Look into their track record of supplying goods or services, and Check the calibre of their other clients. Ask them relevant questions regarding their capability in supplying you with the required goods or services.

And don’t forget to arrange a detailed contract. Bear in mind all the tips listed above, and draw up a contract that both you and your supplier can agree on. Have all the details in writing from the beginning, so you can protect yourself if any problem arises in the future.

Bottom line, a relationship is a two-way street. Your relationship will go smoothly if you treat your suppliers the way you want to be treated.

One of the challenges in running a business is dealing with suppliers. Seek help and guidance on this area from experts. PJS Accountants are the partners you need to expand your business and help it overcome any challenge or trial. We offer a full range of services including accounting, taxation, business improvement, superannuation, business valuations, asset protection, succession planning, estate planning and bookkeeping. Contact PJS Accountants for enquiries.

Guide to Creating a Succession Plan

/in /by

Succession involves making sure the success of your business continues through a timed change of ownership and control. Who will take over the business, when will they take over and how they will they take over the business should be outlined clearly in a succession plan.

Many owners feel daunted by the idea of handing over the reins of their business to someone else. If you need help dealing with the emotional effect of succession and the practical aspects of your succession plan, go to Family Business Australia.

Planning your succession

Make your succession plan way before the time you actually leave your business. Based on research, succession can require over two years to plan. Preferably, your succession plan should be included in your general business plan and be looked over regularly. Make it flexible enough so you can change it anytime there is a change in your situation.

Picking a successor

Identifying a likely successor should be your first priority. Typically, your succession plan can take the form of either:

A family succession plan, which entails creating a trust, selling or gifting the business to relatives
A non-family succession plan, which entails a management buyout, or selling the business to employees or your co-owners

Things to include in your succession plan

Generally, all financial, legal and operational plans for exiting your business should be addressed in your succession plan. The particulars will not be the same for each business, but you can start the first step by answering the following questions as you create your succession plan:

Operational matters

  • When do you intend to exit the business?
  • Will you be fully out of the business or will you still participate in some areas?
  • What are the duties of your successor?
  • What are the training programs you will set up for your successor(s)?
  • What are the dangers that can result from succession?
  • What will be the state of the business when you exit? Who will take on major positions?
  • Are the contracts, work agreements, etc. of the employees all updated?
  • Are all of your plant and equipment working properly?
  • Have you discussed the succession with major suppliers and customers?
  • Have you thought about privacy and intellectual properties policies?

Financial matters

  • Are you gifting or selling the business to your successor(s)?
  • How much is the value of your business or your interest in the business?
  • What are the tax and monetary effects of the succession?
  • What insurance policies have you purchased in case you become disabled, die or injured?
  • What’s the amount of income you require to retire/exit the business?

Legal matters

  • Will the legal structure of the business change after you exit?
  • Do you require legal papers that contain the provisions of the succession?
  • Do you have to modify/transfer any permits, licenses or registrations?

Talk to a professional business adviser when organising your succession plan. It is also helpful to talk to your family and important people in the business, particularly your potential successor(s).

Applying your succession plan

The implementation of your succession plans involves outlining a practical timetable to achieve major milestones. The things that should be included in your milestones are:

  • Naming a successor
  • Business housekeeping, such as important dates for legal and financial requirements
  • Successor training
  • Phased in hand over of responsibilities
  • Final transfer

Ensure that this timeline is conveyed to all those involved in the business so they are aware what’s happening and when. It can be emotional and difficult when you step back from your business, but it would be easier to let go by setting up clear targets and time frames.

Contact PJS Accountants to help you organise your succession plan. We provide a full range of services including accounting, taxation, business improvement, superannuation, business valuations, asset protection, succession planning and bookkeeping. We have been dealing with local businesses in Capalaba, Cleveland and the Redlands for over 30 years. Our team is always available to take your call and help with your business needs.

Things to Remember when Valuing a Business

/in /by

It is important to know the value of a business if you are looking at buying or selling a business.

The problem is that the figure you have in mind and the figure from that of the other party are not the same. If you are the seller, you would probably be disheartened if buyers are not seeing the potential in your business.

The value of a business depends on how profitable it is, and also taking into account the risks involved. However, previous cash flow, lucrativeness and asset values are just the foundation. What provide the most value are the hard-to-quantify aspects such as major business relationships and goodwill.

Influencing factors

The value of a business is affected by the following basic factors:

The reason for selling

Business value can be affected by the circumstances surrounding the sale. A forced sale could slash the value. For instance, a business operator who becomes ill may be forced to accept the first offer he gets, while an owner who is just trying to see what offer he can get can afford to drive up prices, thanks to long negotiations.

Tangible versus intangible assets

It is easier to value a business that has property, equipment, stock available and other tangible assets that have some re-sale value. A number of businesses have nearly zero tangible assets aside from office equipment. But they may have intangible assets that might offer considerable value, such as intellectual property, good customer relationship or well-respected brand. It may not be easy to quantify these intangibles, so seek guidance from your accountant regarding this matter.

Years in business

Businesses that have been operating for years will have a better track record, liquidity and loyal customers who can be relied on for repeat business. Don’t easily trust businesses for sale that have only been trading for one or two years, because they may be “hot” now but the tide may be about to turn, like cafes and bars.

Valuation methods

The real worth of a business is the amount that someone is willing to pay. To determine the amount, various valuation techniques are used by buyers. These methods are normally merely to assure buyers that they’re not paying too high an amount. Here are the primary methods:

Asset valuation

Involves adding up the assets and subtracting the liabilities. For example, a business owns $500,000 worth of machinery and equipment and has $50,000 in unpaid invoices, the business’s asset value is $450,000. A buyer has the option of only purchasing the business assets. By not taking over the business as a going concern, the duty of paying any outstanding debts or tax payments will remain with the former owner. Asset valuation is ideal if you are considering buying a stable, asset-rich business.

The assets listed in the accounts are the basis or foundation for an asset valuation. This is called the net book value (NBV) of the business. To reflect economic reality, you have to refine the NBV amount for the important items, such as fixed assets that may have changed in value, old inventory that may have to be sold at reduced prices, or businesses that aren’t going to be paid.

Usually, intangible things such as software development expenses are not included.

Price earnings (P/E) ratio

The value of a business divided by its profits after tax. For instance, a business with a share value of $40/share and earnings per share after tax of $8 would have a P/E ratio of 5($40/8=5).

You can use this equation: Value = Earnings after tax * P/E ratio. When you have arrived at a right P/E ratio to use, multiply the business’s most recent profits after tax by this amount. For instance, given a P/E ratio of 6 for a company with tax profits after tax of $100,000 would have a business value of $600,000.

It is not easy to decide on the right P/E ratio to use. You will need to rationalise your P/E ratio figure to a prospective buyer or seller. “Standard” P/E ratios are used in some industries, so find out from your accountant the industry averages you can use.

Entry cost valuation

Instead of buying a business, why not set up a similar venture from scratch? An entry cost valuation would give you an idea of what the process would cost you. Here’s how to come up with an entry cost valuation:

Compute the cost to the business of:

  • Buying or funding its assets
  • Developing products or services
  • Hiring and training staff
  • Growing a client base

You can use the amount to draw up a comparative assessment. For example, from the calculation you can see you would need:

  • $500,000 to purchase the set-up equipment
  • $50,000 per month for operating costs
  • 12 months of operation to establish a client base.

Therefore, a company that owns of all these has a value of at least $1.1 million. You can now take into account the cost savings you can make, if any, such as moving to a cheaper location or using better technology.

The major factor in determining how much a business is worth may be something that can’t be easily quantified. It is not easy determining the value of intangible assets because the amount can vary depending on the type of assets or industry. Seek professional advice or guidance from your business advisers, industry association or Chamber of Commerce.

PJS Accountants offers accounting and other booking services to individuals and companies, big and small. Allow our team to evaluate your financial situation and advise you on the right measures to avoid cash flow problems. Contact PJS Accountants for enquiries.

5 Reasons Why Unsecured Loans Make Sense for your Business

/in /by

People look at some business loans in a negative way. Many borrowers in the past have been victimised because they are normally easy to access and carry high interest rates. However, a business loan may be the best option when compared side by side with traditional financing products and taking into account the short term obligations and opportunities that confront majority of small businesses.

Here are 5 ways that unsecured loans could secure your business:

Swift access to money when businesses need it

Maybe your business faces hard times and need funds immediately, or maybe an opportunity appears that requires your business to have more funds than you currently have. It could take some time for you to get approved for a traditional bank loan if any discrepancy is found in your application or your credit history is not up to par. The truth is that some micro businesses must be paid on time. In these circumstances, a business loan, which you can get a hold of within 24 hours, is very handy.

Pay lower overall

Compared to traditional business loans, the repayment amounts for unsecured business loans are typically higher. However, it does not mean that you have to pay more.

For example, you take out a loan of $50,000 from any major lenders in Australia to buy a new piece of equipment. The interest rate will vary but for commercial equipment, the rate could be about 9%, and the term of your loan is over 10 years. You can expect to have paid about $25,000 in interest by the time you have made your final repayment.

On the other hand, you take out a business loan for the same amount of $50,000. You have some money but not enough to cover the full amount of the new piece of equipment. If you take a loan over a 12 month period, the amount of interest would reach about $9,000. Simply put, it is often better to opt for a shorter term than a lower interest rate, thus making a business loan more affordable in general.

Your particular situation will determine the right option for your business. If you have no money available at all, it may not be easy to pay a loan over 12 months. But if an investment presents itself to you, there are benefits to be gained from approaching business loan lenders.

Increase credit score for future loans

The difficulty in accessing funds because of poor cash flow or a low credit score is one of the major inhibitors to small business growth. Applying for a smaller, more manageable business loan that fits your business cash flow is one of the easiest ways to increase your credit score as well as raise your chances of getting approved for bigger loans in the future.

Short term depreciation of assets

For example, you are a window cleaning business operator and you borrow to buy new ropes, harnesses and safety equipment. These pieces of equipment would become old within a year if used regularly.

If you take out a business loan, you can structure the repayments based on the useful life of the items. Alternatively, a long term loan would require you to continue making repayments even after the equipment has gone beyond its useful life. With the exclusion of the added interest you might pay for a long term loan, there’s not much difference if you pay now or later. However, if possible, it would be smarter and more beneficial to limit long term liabilities.

Added flexibility

Compared with traditional long term financing options, business loans commonly offer far more flexibility. A number of business lenders will allow businesses to make repayments on the periods when they are generating revenues.

Allow for your business’s circumstances, such as you capacity to pay or the reason for the loan, to determine the financing option you will choose. Ensure your success by making an effort to do research on the options available with various lenders and in the end choose the loan that is right for you.

If you would like to seek professional advice about loans for your business, or if you have any enquiries about our portfolio of chartered accounting and business services, please contact PJS Accountants.

How to Improve your Cash Flow

/in /by

There are many aspects of your business that can impact the amount of cash you have on hand. You can boost your cash flow by monitoring your expenditures and raising your profits.

Here are more tips:

Watch your stock levels

You will tie up your cash and multiply your storage and insurance expenses by keeping a large amount of stock. Maintain stocks at efficient levels by implementing good stock control. This includes monitoring and accounting for the items you sell, utilise or make.

Handle your accounts

Overdue accounts should be followed up on. You will see cash coming in when you manage debtors and implement good credit policies.

Negotiate for longer payment terms with your suppliers. You don’t have to pay out of pocket if you can secure payments from your customers before you pay your suppliers.

Evaluate banking products

You can have the money in your hand sooner if you utilise the right banking transaction products. Think about using a mobile eftpos device, or look into services to get paid through phone or on the Internet.

Raise income

See if you can increase your profits by doing a pricing review, using an advertising campaign or enhancing customer service. Expanding your business may also be an option.

Trim overheads

Consider cutting back on employee overtime and watching your operating costs or overheads. Institute eco-friendly measures and you may see expenses such as power and water bills reduced. Make sure your policies on these areas are clearly communicated to your employees.

Enhance your financial acumen or hire a professional

You can improve your cash flow by enhancing your management and financial acumen. Improve your business knowledge by attending workshops.

It is important for a business to have cash always available. Get help from a financial adviser or accountant, professionals who are experienced in assessing your individual situation, on how to improve your cash flow.

PJS Accountants offers accounting and other booking services to individuals and companies, big and small. Allow our team to evaluate your financial situation and advise you on the right measures to avoid cash flow problems. Contact PJS Accountants for enquiries.

ATO: Real-Time Checks for Tax Returns and the Dodgiest Work-Related Deductions

/in /by

Small business owners should be wary of filing the wrong work-related tax claims, as the Australian Tax Office (ATO) has introduced real-time checks for online tax returns for 2016.

Revenue adjustments of over $1.1 billion in income tax followed as a result of the ATO conducting about 450,000 reviews and audits of individual taxpayers in the 2014-2015 financial year.

Data analytics is used by the tax office to compare individual tax returns to those filed by taxpayers in the same situation. A review by the ATO staff is launched if a “red flag” is raised. Processing the returns can be delayed when this happens, and in cases where a person purposely claimed the incorrect amount, a penalty may be imposed.

For 2016, work-related tax deductions will be checked in real-time by the ATO. If claims are significantly higher than others in the same jobs, earning the same salary, individuals will receive a message requesting them to check their information.

This process is designed to help taxpayers make sure that they are filing claims correctly. People have nothing to worry about if they are not doing anything wrong. If you’ve committed a blunder, the tax office will help you fix it. You will not be penalised if it was an honest mistake.

The ATO from time to time comes across people who intentionally make incorrect claims. Examples include claims for auto expenses where log books have been fabricated and claims for self-education expenditures with invoices for conferences that the taxpayer didn’t attend.

It is important for business owners who prepare their own tax returns to be aware of what they are lawfully allowed to claim. They need to ensure their log books are up to date and that there is no confusion between personal and business expenses – on items like motor vehicle and home office expenditures.

Both the ATO and CPA websites offer advice on claiming deductions for free. And any person who is seeking professional advice should consult with a registered tax agent.

Dubious work-related expense claims spotted by the ATO

Here are five cases of individual taxpayers that the ATO calls “dodgy” work-related tax deductions:

  1. A “wine expert” filed a claim for thousands of dollars in expenditures related to a holiday in Europe, including cases of wine worth $9,000, on the premise that he went to wineries while travelling. All the deductions were disallowed after the employer said the claims were for personal expenses.
  2. A medical professional was heavily fined after filing a claim for costs incurred while going to a conference in America, when the truth was they were in Australia when the conference was on-going.
  3. A railway guard filed a claim of $3,700 in work-related auto expenses, which he said was incurred by him carrying large tools between his home and workplace. But the ATO found out from his employer that the instruction manuals and safety tools could be keep securely at the workplace. This led to the ATO disallowing the expenses because it was the employee’s decision to move the equipment.
  4. An individual who was attending a study program filed to claim deductions totalling $5,700 for leasing a property and $7,500 for renting a storage facility, on the premise that he was using both spaces for peace and quiet while studying as he couldn’t do this at home. The ATO disallowed the claims.
  5. The ATO disallowed a taxpayer’s claims for auto expenses after it was discovered that the kilometres stated in the log book were during the days when the taxpayer was overseas and the car had no record of passing through toll road areas.

Contact PJS Accountants for tax advice. We offer expertise in managing your tax affairs with a full range of compliance, corporate and individual tax services, whether you are a large company, SME, family business or individual. Tax laws and requirements change constantly, potentially putting you or your businesses at risk. Talk with one of our expert advisers now and ensure you are meeting your tax obligations.