Accounting for manufacturing businesses

Drive manufacturing growth with expert insight

Liston Newton Advisory
Liston Newton Advisory is rated 4.8 from 32 reviews

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An award-winning Australian accounting firm

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Common accounting challenges in manufacturing

Manufacturing businesses face complex financial pressures that can affect profitability and cash flow. Managing production costs, inventory valuation, and compliance requirements requires accurate data and reliable processes. Without specialist accounting support, manufacturers may struggle to maintain financial control, meet reporting obligations, and make confident business decisions.

Common issues:

  • Inaccurate tracking of inventory and cost of goods sold
  • Limited visibility across production costs and margins
  • Compliance risks relating to GST, tax, and reporting

Our solutions are designed for the manufacturing industry

We deliver tailored accounting solutions to improve control, streamline processes, and maintain financial compliance.

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Inventory tracking and reconciliation for manufacturers

We track and reconcile inventory accurately so stock levels, costs, and reporting stay reliable.

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Standard costing and cost of production analysis

We analyse production costs and standard costing to help you control margins and pricing decisions.

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Manufacturing bookkeeping and financial data accuracy

We maintain accurate bookkeeping so your financial data supports clear reporting and better decisions.

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GST, tax, and compliance for manufacturing businesses

We manage GST, tax, and compliance requirements to reduce risk and keep your business aligned.

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Receivables management and cash flow control

We help manage receivables and cash flow so working capital stays strong and predictable.

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Our accounting qualifications and industry expertise

Our accountants hold recognised qualifications and experience, supporting businesses with compliance and advisory expertise.

Our clients

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Pandora logo
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About Liston Newton Advisory

Liston Newton Advisory is an Australian accounting company supporting various businesses across Australia. We help clients optimise financial statements, analyse the cost of goods, and identify savings across supply chains. From factory operations to export-focused and aerospace sectors, our qualified accountants and bookkeepers deliver advice businesses rely on to grow and contribute to the economy.

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Our accountants and advisors can serve clients all over Australia

We support businesses across Australia, delivering expert accounting advice tailored to local regulations and industry needs.

How our accounting process supports manufacturers

We follow a structured process that delivers accurate data, clear insight, and practical advice for manufacturing businesses.

Get set

We’ll begin by securing your existing business’s financials and optimising its operations.

Get moving

Then, we’ll put long-term strategies into play to maximise your business’s growth.

Get free

Finally, we’ll use your professional success to fund your personal wealth so that you can live the life you want.

Get specialist accounting for your manufacturing business

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Guides for manufacturing business owners

Our guides are built for businesses seeking clarity around complex financial decisions. They focus on real-world scenarios, from managing cash flow and tax obligations to choosing suitable business structures. Each guide breaks down complex topics into practical steps, helping manufacturers make informed decisions as operations scale and change

  • Managing production costs and margins 
  • Structuring businesses for growth
  • Understanding cash flow through the growth phase

Why manufacturing businesses in Australia choose us

Kieran Liston and the Liston Newton team have been assisting me with my accounting matters since 1976. For the past 47 years, Kieran and the Liston Newton team have provided reliable accounting assistance, which has allowed me to focus on my business in primary production.

Their exceptional service has consistently exceeded my expectations and made me feel that they truly care about my financial well-being.

Brian Downes

Liston Newton has given me really helpful guidance over the years for both my business and my personal finances. When you have an accounting team that you trust to give the right advice, it gives you the confidence to focus on growing your business and doing the things you love.

Kate Nixon
Founder, Kat The Label

Liston Newton helped us move our accounting over to Xero. Their Accountant managed the set up and training so we felt comfortable with the software. We now have all our processes streamlined which gives us improved visibility of our business performance. This has allowed us to open 2 more stores without a significant increase in administration effort.

Peter Luskan
Pandora

Meet our advisory team

Frequently asked questions about accounting for manufacturing

What is ‘cost of goods sold’ in manufacturing?

Cost of goods sold (COGS) is the direct cost of producing goods. This includes raw material, labour, and factory overheads. Accurate COGS calculation is vital for pricing, margin analysis, and reliable financial statements. The Australian Taxation Office outlines how production costs affect taxable income in its guidance on accounting for business expenses.

For manufacturers needing support with COGS and compliance, our accounting and tax services assist with accurate reporting and analysis.

How do manufacturing accountants integrate cost data with financial reporting?

Manufacturing accountants integrate production cost data, including raw material, labour, and overheads, into financial statements to reflect accurate asset values and expenses. This supports compliance, pricing decisions, and effective tax planning.

By combining cost data with cloud systems and reporting tools, manufacturers gain clearer insight across the supply chain and export activity. This approach is often supported through digital advisory services, alongside strategic input from financial advisory specialists to improve cash flow and identify savings.

Can accounting help manufacturing businesses export?

Yes. Specialist accounting allows manufacturing businesses to leverage financial data when assessing export opportunities. Accurate reporting helps evaluate pricing, cash flow impact, and investment requirements. This insight is invaluable when businesses seek to enter overseas markets or scale production.

Austrade provides practical guidance on financial considerations for exporters, while our business advisory services support manufacturers planning sustainable growth.

What tax and GST rules apply to manufacturers?

Manufacturing businesses have specific goods and services tax obligations, particularly when dealing with raw materials, components, and imports. It’s vital to register correctly with the Australian Taxation Office to ensure GST is reported accurately and credits are claimed where eligible.

Some manufacturers may reduce import costs through the Certain Inputs to Manufacture program, while food producers must meet additional GST requirements for food manufacturing. Specialist accounting advice helps ensure compliance and avoids costly errors.

We help you grow your business

We are an accounting firm devoted to taking your businessto the next level

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