Case Study #1 – Anthony (SME) – Catch Up Bookkeeping
How we helped a client catch up on over a YEARS-WORTH OF BOOKKEEPING IN LESS THAN A MONTH, and SAVE THEM MONEY in the process. How Anthony Started Anthony* is your typical small business owner. The type that absolutely loves what he does,but does not give much of a care about much else, ESPECIALLY […]
How to Prepare, Survive and Thrive?
Update your cash flow forecast and budget out ongoing operational cost Got a cash flow forecast and a budget? This is the perfect time to review it! By calculating your ‘fixed operational expenses’ , revised sales estimates and wages, you can adjust yourworkforce and reserve requirements accordingly. This will allow us to take the necessary action […]
Challenges of Small Businesses
One of the biggest challenges surrounding small businesses is how to create a strong internal culture, employee engagement and of course, retaining employees. Being small means the business owners are hands-on as well as having to be strategic and focus on growing their business! It is important to hire the right people with the right technical […]
Do You Have Profit But No Cash? Here’s Why…
The primary weakness of some businesses is that their owners conflate profit and cash when in fact neither of them are the same thing. Profit is what your net revenue is – your revenue once you have deducted your expenses from it. But it’s also something that’s on paper and not necessarily something you have on […]
Everything You Need To Know About Single Touch Payroll (STP)
You’ve probably seen Single Touch Payroll (STP) now and then in our communications, but what is it really? We’ve all been informed that it’s an implementation that will change the way businesses report their pay as you go (PAYG) tax and superannuation information to the Australian Tax Office (ATO), but questions still prevail. This article will hopefully […]
Are You Issuing Payslips Correctly?: How To Generate Them
On a basic level, payslips are documents provided from an employer to an employee that outlines how much an employee has earned, how much tax was withheld from the employee, and how much superannuation the employee is entitled to. Payslips are a compulsory document that have to be provided to employees within one working day […]
The Only 3 Reports You Need to Assess Your Business Performance
Entrepreneurs are a busy breed. Being always on-the-go and ready for the next project, client, innovation and so on.. What this will mean is that they will take less time to review their financials. However, this lack of understanding may actually work against the busy-preneur as they will continue working ‘in-the-business’ and soon realize down […]
Xero, MYOB, QB or Reckon? How to Choose The Right Software For You With 3 Questions
In the fast-paced world of today, new software is being developed everyday. When it comes to accounting, this is not an exception. With so many choices, how do you know which is right for you? This guide aims to put you in a position to decide: the RIGHT accounting software for YOU the options available […]
Why are your JobKeeper Payments delayed?
Most employees do not experience issues with their JobKeeper payments. Other than the lodgement of the March BAS (Business Activity Statement), CashFlow Boost payments flow to about 80% of employers without requiring human intervention. The ATO (Australian Taxation Office) sends payment requests to the Reserve Bank daily. So why the delay? JOBSEEKER – Sole […]
ATO announces JobKeeper cessation letters to be sent out amid pressure to amend eligibility criteria
JobKeeper participant claimants who do not fulfill the requirement set out can expect to receive notification from the ATO. This is covered by a range of situations in which claimants failed to meet the requirement of notifying the ATO of business activity either through tax return, activity statement, or GST return by 12 March 2020. The […]