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Did You Know: The ATO Can Cancel Your ABN

Did you know that your Australia Business Number of ABN can be cancelled by the tax office? There are only a few reasons this can happen, and one of them stems from your business’ lack of profitability. Another reason is whether the ATO deems your business to be a hobby as opposed to an enterprise. [...]

By |December 1st, 2016|Bookkeeping|1 Comment

What Is Accident Insurance?

Many times, your health or medical insurance policy will cover regular doctor visits, wellness checkups, and prescription medication. However, it might not provide coverage in the event of an injury or death due to an accident. Since no one can predict when an accident might happen, how can you be sure that you and your [...]

By |November 4th, 2016|Uncategorized|0 Comments

GST Information for Small Businesses

Australian taxation is a complex system that includes multiple registrations or roles. GST registration is one and it can be tricky if you do not understand what the terms mean, the limits, or how to calculate the necessary figures. This is why it is best to at least get a basic understanding of the process, [...]

By |October 21st, 2016|Uncategorized|0 Comments

5 Tax Rules to Know as a Sole Trader

Being a sole trader has a number of benefits; plus, it shapes your tax situation and the laws that apply to you. While this is the easiest form of business to start, it is important that you consider a few things before you do. If you already have a business, then these are good to [...]

By |October 6th, 2016|Uncategorized|0 Comments

5 Reasons to Consider Using MYOB Accounting Software

Every business has an accounting method no matter how disorganised. If you are like a lot of small business owners, you are likely to have a manual system (using Excel for example); but, while using spreadsheets may seem simpler to you because you are used to it, it is not always best. In fact, it [...]

By |September 9th, 2016|Uncategorized|0 Comments

Where is My Money?

You could consider yourself carelessly managing the cash flows in your business if you always lose track of your money or if you already asked yourself, “Where is my money?” In a growing company, cash is the most essential part especially in the financial management of an entity. The lapse between the period you have [...]

By |August 26th, 2016|Finance|0 Comments

5 Reasons to Outsource Your Company’s Bookkeeping

If you are questioning whether or not there are benefits to outsourcing to a bookkeeper, then congratulations for realizing the value of such a resource to your company. This is definitely a step in the right direction. The simple answer is: “Yes! There are a lot of benefits to outsourcing your bookkeeping.” Here are five: [...]

By |August 12th, 2016|Uncategorized|0 Comments

5 Reasons You Need to Keep a Close Watch on Your Business’ Cash Flow

Your business’ cash flow is vital to sustaining everything because it determines if you can pay your monthly bills, afford your daily operations, or pay for business emergencies as they arise. In other words, it tells you how much liquidity you have to work with. While this may be hard to do, it is best [...]

By |July 28th, 2016|Uncategorized|0 Comments

5 Basic Roles of a Bookkeeper and How You Can Benefit From These

Accounting will be an important part of your business no matter the size. What may change is how complex a system you need, how much time has to be invested, and how much expertise it will require. Luckily, a trained bookkeeper can meet these needs no matter how big or small, and the basic roles [...]

By |July 12th, 2016|Bookkeeping|0 Comments

5 Bookkeeping Mistakes Entrepreneurs Often Make

Being your own boss has a number of perks, but it may also come with responsibilities that you dislike dealing with. If you are like a large number of entrepreneurs, then the task of keeping your accounting matters straight is on that list of dreaded obligations. You may also be guilty of making several bookkeeping [...]

By |June 16th, 2016|Uncategorized|1 Comment