Tips for Tradies to Get Paid Faster

March 11th, 2022|

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 a contract agreement with your terms in writing. Have the new client sign your agreement [...]

Tips to work smarter and find more personal time

January 27th, 2022|

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 be other ways to manage your business. Find the right business management tools There are [...]

Stapled Super Funds

January 27th, 2022|

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 the employee’s previous job. This change by the ATO is to stop new super accounts [...]

Three Consequences of Avoiding your Bookkeeping

August 28th, 2021|

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 company's financial situation can result in a series of missteps that could ultimately cost you [...]

Three Ways to Speed up Invoicing

March 25th, 2021|

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, but tomorrow becomes next week, next week becomes next month, and suddenly you realise your [...]

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

March 14th, 2021|

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 reasons profitable businesses have little money in the bank, and what business owners can do [...]

Three Tips for Managing Construction Industry Cash Flow

February 26th, 2021|

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 in the meantime you have to pay employees, cover other expenses, buy materials and pay [...]

5 Most Common Accounting Mistakes That Could Hurt Your Business

February 18th, 2021|

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 of the most common DIY accounting errors that you should avoid. Unorganised Records  It takes [...]

Links to helpful websites

October 10th, 2020|

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

End of Year Financials

May 15th, 2020|

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 is directly related to the business that pays them such as family members of a [...]

Jobkeeper 2.0 for Employers and Eligible Business Participants

April 25th, 2020|

Jobkeeper 2.0 Payment from the ATO Jobkeeper 2.0 has now been announced by the Government. This payment is extended until 28 March 2021. If you are in the Jobkeeper scheme now, this will continue until 27 September 2020. From 28 September 2020, your GST Turnover will need to be tested and if eligible (down by 30% or more), the payment rates are reduced. From 28 September 2020 to 3 January [...]

What does a bookkeeper do and why do I need one?

March 2nd, 2020|

A bookkeeper keeps track of your sales, purchases, payments and receipts. They organise and record financial data on a day to day basis and store the information in general ledgers in a standard way so that the accountant can also access it to prepare the financial end of year. Without proper bookkeeping and trained knowledge on how to record transactions correctly, you may miss out on tax deductions you are [...]

Fuel tax credits to claim on your BAS

January 25th, 2020|

Fuel tax credits provide businesses with a credit for the fuel tax that is included in the price of fuel used in machinery, plant and equipment, heavy vehicles and light vehicles travelling off public roads or on private roads. Have a professional bookkeeper calculate your fuel tax credits correctly for your next BAS.    Contact us  

Are you falling behind with your bookkeeping?

December 14th, 2019|

Bookkeeping is usually the last tedious job to do when running a business. Who has the time right? It's hard enough keeping up with your invoicing, chasing your customer's payments and paying your staff. That's why you should not feel worried about asking for help from a professional bookkeeper. We aim to take the burden off you and show you new ways of doing things to ease your pain! As [...]

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