radford tax logo
07 5495 4100 ◆

Welcome

Does Your Accountant Know You By Name?

At Peter Radford Accountant and Tax Agent we don’t just know your financials!
We are more interested in knowing You, your Partnership, Business, Trust or SMFS‘s goals and helping you achieve them.

We are committed to personal and friendly service, offering a client-focused accounting experience.

How can We Help?

For over fourteen years the team at Peter Radford Accountant and Tax Agent have worked closely with our clients to make informed decisions and achieve both business and personal goals.

Based in Morayfield, we are easily accessible to help you with a range of services from tax matters and software training to business advisory and strategic planning.

radford tax services

Tax
preparation

We make a point of understanding the individual taxation needs of every client, whether they require help with company tax, personal tax effectiveness or indirect taxation including payroll tax and GST.

radford tax services

accounting services

Our accounting services involve much more than preparing financial statements every year. We ensure our clients’ compliance needs are taken care of, allowing them to focus on their own professional, personal and business needs.

radford tax services

superannuation services

Regardless of the stage in life you are at, it is important to be aware of your superannuation and what it can do for you in the future. We assist our clients in taking control of their superannuation and aligning it with their future lifestyle goals.

radford tax services

business development

We like to work closely with a business as it transitions through the different stages of its life so we can provide accurate and timely advice at each stage of the business’s lifecycle.

radford tax services

company secretarial

Regardless the size of your business, we can support you with highly qualified secretarial and support staff that will take care of managing a business’s compliance, corporate governance and secretarial responsibilities, so owners can concentrate on running their business efficiently.

radford tax services

other
services

- Estates and trusts
- Financial accounts
- Business health checks
- Corporate compliance
- Franchise and business services
- Business advisory services
- Succession planning
- Buying and selling a business

maximise your business's value

latest news

Getting your money back from late-paying customers

Posted on July 29, 2020 by admin

Businesses can be heavily impacted by customers who cannot, or simply will not pay when payment is due. A single unpaid invoice can cause issues, and the longer this debt is left uncollected, your chances of getting your money back become slim. Consider these tips to avoid and manage debt recovery to save your business from major losses.

Reduce credit terms
If late payments and managing bad debt is a regular occurrence, consider reducing your credit terms. You may want to remove your credit terms entirely, but it is important to look at your customer base, the services you offer, and whether there is an average credit term that is expected by your clients. If you offer credit terms shorter than your competitors, you may end up losing valuable customers. However, if your credit terms are too spacious, your cash flow will be slow, putting you at financial risk.

Encourage timely payments
Your business might require a set credit term to meet the industry average. In these situations, consider offering discounts on payments made early or within a set date from invoicing. An alternative is to charge a late fee to encourage your clients to pay on time. In these situations, it is necessary to first make your customers aware of the introduction of this policy clearly through your terms and conditions. To maintain good customer relationships, try to limit overdue fees to repeat offenders. You may want to monitor incoming payments to see if these policy changes are reducing your late payments.

Hire a debt collection agency
Efforts to pursue your late-paying customers may not always be successful. If the debt amount is less than $1000, it may not be financially viable to pursue legal action for violation of your credit terms. In such situations, consider outsourcing your debt collection to professional collectors. However, timely involvement is key to getting your money back. Give your clients sufficient time to make a payment, and if over two times the trading terms have passed, hire a collection agency to prompt your clients into making defaulted payments.

radford tax associationsradford tax associationsradford tax associations