Tips for Tradies to Get Paid Faster

Getting paid late by your customers can have a major effect on your own cashflow. When your customers pay on time, you can then pay your suppliers and employees on time as well as yourself. Set Customer Agreements with your payment terms. When you start to work with a new client, make sure you have [...]

Tips to work smarter and find more personal time

To work smarter means looking at how you can save more time, energy and money so you can spend more personal time on the other things in life. Many business owners think they have to work harder by working long hours to be profitable. Doing that can lead to burning out when there may [...]

Stapled Super Funds

Employers from 1st November 2021, may have an extra step to take for new employees that do not choose a Super fund. The ATO says that the employer may now have to request their new employees ‘stapled super fund’ details from them. A Stapled super fund means its already existing with the ATO from [...]

Three Consequences of Avoiding your Bookkeeping

If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It's an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is dangerous. Not knowing your [...]

Three Ways to Speed up Invoicing

Everyone likes making money, especially small business owners. Invoicing, however, is typically one of the tasks that small business owners like the least. Chores like creating and sending invoices get set aside for other duties that are seen as more enjoyable or even more urgent. You tell yourself you'll get around to it tomorrow, [...]

2021-03-25T14:44:14+10:00March 25th, 2021|BAS, Bookkeeper, construction, Financial, Hawkesbury, Sales, Trades, Uncategorized, Xero|

If my business is making a profit, where is the cash?

Some small business owners find themselves in the difficult position of running a business that appears to be profitable, but still having no money in the bank. It's an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three [...]

2021-03-25T14:45:00+10:00March 14th, 2021|ATO, BAS, Bookkeeper, Cash, Financial, Hawkesbury, Sales, Xero|

Three Tips for Managing Construction Industry Cash Flow

I understand that owning a small business in the construction industry can be incredibly stressful. Not only, with the long days and hazardous working conditions, then you have to worry about cash flow issues. It can take a long time to collect on payment from your clients or contractors who hired your business, and [...]

2021-03-25T14:45:42+10:00February 26th, 2021|BAS, Bookkeeper, construction, Financial, Hawkesbury, Sales, Trades, Uncategorized, Xero|

5 Most Common Accounting Mistakes That Could Hurt Your Business

Many small business owners tend to handle their own accounting and bookkeeping, especially when they’ve just started out. However, keeping track of the finance-side of the business-- everything from income to expenses to tax compliance-- can be overwhelming. Mistakes can happen quite easily and can have costly consequences to your business. Below are five [...]

2021-02-26T09:33:37+10:00February 18th, 2021|BAS, Bookkeeper, construction, Financial, Hawkesbury, Sales, Trades, Uncategorized, Xero|

Links to helpful websites

Here are some links to helpful websites:- Australian Taxation Office ATO Small Business Newsroom Fairwork Ombudsman ABN Lookup to check ABN's for GST Registrations National Employment Standards ATO Super Choice Forms ATO Tax File Number Declaration Forms Xero MYOB

2021-02-08T12:58:17+10:00October 10th, 2020|ATO, Bookkeeper|

End of Year Financials

Its nearing end of financial year. There are always checks to be done by your bookkeeper to make sure you are claiming enough tax deductions. The ATO recently changed the deadline for the "closely held employees" to connect for Single Touch Payroll. Its not required by 1st July 2021. Closely held employees is someone who [...]

2020-06-18T13:32:15+10:00May 15th, 2020|ATO, BAS, Bookkeeper, Financial, MYOB, Payroll, Trades, Xero|
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