“I wanted a client-focused, technology-driven, relationship-based firm and the freedom to make decisions on strategy and spend that aligned with this vision.”
- Tech enthusiast
- Kyelie believes that teamwork makes the dreamwork and has a network of IQ family alumni
- Favourite quote from Kyelie’s 97-year-old Grandmother, “If you are going to back anyone, back yourself”
- Queensland Finalist, Telstra Business Women’s Awards
- Finalist, Small Business Champion Awards
- Runner-up, NAB Professional Service Awards
- 2018 MYOB Accountant of the Year
Being a paperless practice has opened a myriad of opportunity. As well as serving clients face-to-face at her Burleigh Heads office, Kyelie has customers who live remotely, interstate and overseas. Her fully technology enabled work processes also mean that one of her team works completely remotely from Hobart.
Over 15 years in her own business, Kyelie has built a loyal client base and a dedicated, experienced team.
How did you start in business?
I was 18 years old when I started working as an undergraduate in an accounting firm. My workload included a full time job and simultaneously studying my accounting degree full time. I also got engaged and organised a wedding during this time! A few years later, I was offered a partnership and to run my own office at the Gold Coast. It was an opportunity that I grabbed with both hands. I am incredibly grateful that these partners saw, at such an early age, my dedication, talent, potential and grit, and for taking it as a welcomed benefit to their business.
My learning curve was steep, but I found I thrived under the pressure and enjoyed the responsibility. I also began to identify opportunities to improve the business, move it forward and modernise. I used the time managing the Gold Coast office as a period of trial and exploration.
How has technology changed your business?
Significantly! Recently we ordered paper for the first time since July 2016. IQ Accountants have abandoned the traditional communication forms and correspond solely on an electronic portal which acts as an online library and workflow for all client correspondence.
Internal processes have also adapted with latest technology offerings allowing our office to become genuinely paperless. This is something we are incredibly proud of and has also allowed us to be more agile. As an example, we have a staff member working remotely from Hobart and we communicate via Slack and Gotomeetings.
These processes and technology enhancements have taken time, patience and have been costly both financially and time wise. However, I find exploration of new applications and technologies exciting and interesting. Keeping up-to- date both with client-based systems and the latest news in internal business applications is critical to an efficiently run office and sustainable business growth.
What are the top three things you should know?
- Cash in the bank isn’t the same as the profit you will pay tax on at the end of the year. This is one of the most common misconceptions when tax planning.
- Don’t trust a bookkeeper or an accountant to deal with your taxation affairs in entirety. Have a basic understanding of what your compliance obligations are and of every document you sign. Make sure you know what the payments you are making are for.
- Do tax planning! Tax planning is a proactive approach to managing your tax affairs. We do it in April, May and June with our clients to ensure that they are minimising the tax that they must pay. The meeting at minimum advises them of the approximate tax they will have to pay 12 months later (forewarned is forearmed). The best-case scenario gives them options to choose how to reduce their tax.
COLLABORATION OVER COMPETITION
How have you used partnerships to grow the business?
I am a huge believer in ‘aces in their places’. My most rewarding partnership started ten years ago. At that time IQ Accountants didn’t have the capacity to offer bookkeeping services. The solution was to align myself with a trusted partner who I knew had similar business values.
For over a decade we worked with more than 40 clients together. It was the ‘Rolls Royce’ service. All our mutual clients appreciated that we would liaise with each other, almost as an extension of our own businesses. This partnership, built on mutual trust, was so successful that we were able to run seminars together. Our individual referral sources then felt comfortable to refer to the other partner, knowing of our very long term and successful working relationship.