Use a single service when you need one job done well and the rest of your finances are simple. Use multiple services from one team when your tax, bookkeeping, borrowing or growth decisions depend on each other, because one shared set of numbers removes the double handling, conflicting advice and missed timing that come with separate providers.
Written by Shehan Wijayasinghe, Managing Director and founder of Elephant Advisory (est. 2016)
When one service is enough, and when several pay off.
A single service is usually enough when…
- You only need one thing done well, like your tax return, a home loan or monthly bookkeeping.
- You already have advisers you trust for everything else, and they talk to each other.
- Your business is simple: one income stream, no staff, no plans to borrow or expand this year.
- You're testing us out first. Starting with one service is a sensible way to do that.
Good fit: Tax compliance, a home loan or monthly bookkeeping on its own.
The fees are easy to compare. The gaps aren't.
Using several separate providers can work well. When it doesn't, these are the four places it usually breaks down.
Double handling
Your broker asks for documents your accountant already has. Your bookkeeper rebuilds reports your adviser needs in a different format. You become the courier.
Advice that pulls in different directions
An accountant minimising taxable income and a broker who needs higher income for serviceability can both be right, and still leave you worse off if they never talk.
Timing that slips
Loan applications that wait on late tax returns, BAS that's lodged before the books are reconciled, or a hire made before anyone checked cash flow.
Nobody owns the big picture
Each provider looks after their slice. Decisions that cut across tax, cash flow, borrowing and growth end up being made by you, alone.
Count your yeses.
0–2 yes: a single service is probably all you need. Pick the one that solves today's problem.
3–5 yes: two or three connected services will likely save you time and mistakes. Start with the one the others depend on, usually bookkeeping or structure.
6–8 yes: you'd benefit from one team working from one set of numbers. See how we sequence it.
- 1Do you send the same documents to more than one adviser each year?
- 2Are you self-employed and planning to buy property or refinance in the next two years?
- 3Do you find out your real profit only when your tax return is done?
- 4Have two of your advisers ever given you advice that didn't fit together?
- 5Are you planning to hire, raise prices or spend more on marketing this year?
- 6Is your bookkeeping done by someone who never speaks to your accountant?
- 7Do you own (or plan to own) more than one entity, like a company, trust or SMSF?
- 8Would you struggle to say who is looking after the big picture for your business?
What we'd usually suggest.
General guidance only. The right mix depends on your circumstances, so talk to us before deciding.
No pressure to bundle.
We'll tell you when one is enough
If a single service solves your problem, that's what we'll recommend. No bundles, no upsell for the sake of it.
Each service stands on its own
Every service is quoted separately, so you can start with one and add another only when it earns its place.
Your other advisers are welcome
Keep the accountant or broker you're happy with. With your permission we'll share what they need so everyone works from the same numbers.
Single or multiple services: your questions.
Straight answers on when to keep it simple and when to bring more under one roof.
One service or several? Let's work it out together.
A free chat to look at what you have now and what's slowing you down. If one service is all you need, we'll say so.
Unit 16, 105/111 Ricketts Rd, Mount Waverley VIC 3149 · Mon to Fri 8.30am–6pmGeneral information only. It does not take into account your objectives, financial situation or needs. Credit services are provided by Elephant Financial Pty Ltd, authorised credit representative 487962 of Yellow Brick Road Aggregation Pty Ltd, Australian Credit Licence 390261.
