New Financial Year for your tax return

July 11th, 2019|

Maintain separate business and personal records. Have a separate bank account for business transactions only. Keep your records for 5 years. Set aside time to review and update your records Keep records electronically wherever possible. Software can help you report income and claim expenses correctly. ATO Small Business Newsroom

Xero billing scams

May 28th, 2019|

Be aware of your Xero billing invoices. Your Xero invoices will have your business name on them and will not be sent as "Dear Client". Do not click on the link unless it shows your business name. Xero has said the following:- Note: we have recently seen fake Xero subscription invoice emails being sent out by scammers. A genuine Xero subscription invoice email: Will be addressed to your billing contact [...]

MYOB Accountright 2019.2 Upload for Single touch payroll

May 15th, 2019|

MYOB Accountright 2019. Ive met with 2 new clients that have the latest version of MYOB on their computer but its Local library (desktop) only. If you have employees, you will need to start Single Touch Payroll by 1st July 2019 as it is now tax law. https://www.ato.gov.au/Business/Single-Touch-Payroll/ To do this your MYOB accountright file needs to be uploaded as an "online" version. This can take some time to upload [...]

Be aware of Phone ATO Scams!

April 22nd, 2019|

PHONE SCAM ALERT! Listen out for suspicious calls claiming to be from the ATO. Scammers are ‘spoofing’ our phone numbers so it looks like the ATO are calling. They’re also leaving our numbers on voicemails to make their contact seem real. While these calls may appear to be from us, remember that we’ll never: • threaten you with arrest • demand immediate payment, particularly through unusual means such as bitcoin, [...]

MYOB Accountright New Release 2019.1

March 16th, 2019|

The latest MYOB Accountright new release version 2019.1 has some new great new features. Fully customisable invoice reminders. You should now get paid faster from your customers! Let customers pay multiple invoices at once. Automatically save invoices to your In Tray when you work with other MYOB users. Finding transactions much faster!  You now have more options to filter when looking for transactions. Do you need help with an MYOB [...]

Single Touch Payroll

March 5th, 2019|

 Are you ready for Single Touch Payroll? Single Touch Payroll (STP) is compliant from 1st July 2019. Since 1st July 2018, employers with 20 or more employees have reported to the ATO through their payroll software. On 12th February, 2019, it was passed to extend STP for those with 19 or less employees from 1st July 2019. Micro-employers (1-4 employees) will be allowed to rely on a registered BAS Agent [...]

What Tradespeople want from their bookkeepers

January 20th, 2019|

Are you looking to save time? If you are doing your accounts on paper, or using spreadsheets you can save more time with online accounting software.  You also get a clear picture of how the business is performing. Simple pricing budgets   You can have a fixed monthly price to include your software and all the accounting (you don’t have time for) to clean up your current messy paperwork. With the ATO [...]

Top GST mistakes in BAS reports

January 20th, 2019|

It's easy to make a mistake when preparing your BAS.  That's why a certified bookkeeper/BAS Agent would be valuable in ensuring the ATO reporting is correct. Many business owners make mistakes on the Hire purchases/Lease of Vehicles or Plant & Equipment on their BAS. Incorrect tax codes in your chart of accounts - this affects the reporting on the BAS. Claiming GST on ALL expenses when some do not have [...]

Why do you need a Registered BAS Agent?

January 5th, 2019|

A qualified bookkeeper can save you on time and processing the receipts, payments and expenses is only part of the job. They also have to review the numbers on the reports so they make sense for the business. They are keeping in touch with the ATO's latest rules and ensuring clients are compliant to deadlines. A Registered BAS agent can do all this for you and take care of speaking [...]

Starting a New Business?

January 4th, 2019|

When you start a business, there are tax and super responsibilities you need to be aware of, including: the tax implications of your business structure whether you're entitled to an ABNExternal Link   registering your business records you need to keep deductions you can claim. Before you get started there are a few things to consider when your tax and other obligations start - this will depend on whether you are [...]

How to choose the right Bookkeeper for your business

January 4th, 2019|

Efficient, knowledgeable and organised A good bookkeeper understands your business processes, your industry and what is required for your business. Bookkeepers make sure processes are in order to provide you with necessary reporting so you meet the ATO deadlines. We have an excellent eye for detail and care about keeping your records up to date and accurate. Trust & Confidentiality Trust is essential for both parties. The relationship needs to [...]

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