Entries by The Visory Team

Guide to Lodging Taxes for Small Businesses

If you’re a sole trader, partnership, or company in Australia, there are a few options for lodging your tax return. This guide explains the process and your options as a small business. The Australian Taxation Office (ATO) administers and collects taxes in Australia, though state government and revenue offices do so in some cases. The […]

Complete Guide to Business Reporting

Business reporting is the process of communicating financial and operational information about a business to stakeholders such as shareholders, creditors, and employees. This information is typically presented in financial statements, which show a business’s financial performance over a period of time. Business reporting is essential because it helps business owners and managers make informed decisions […]

How Virtual Bookkeepers Benefit Your Business

If you’ve hired the services of a bookkeeper, you’ve likely come to appreciate the value they bring to your business. From staying on top of financial paperwork in time for the tax period, bookkeepers are now applying analytical and strategic skills to elevate businesses. Bookkeepers are also moving away from working from an office you’ve […]

How Do Independent Bookkeeping Services Work?

Bookkeeping as a service is the new way to develop and maintain your business’ financial processes and management, at a fraction of the cost. Gone are the days when businesses had to hire an in-house accountant or bookkeeper and incur ongoing expenses like training and upkeep. Today, outsourcing all aspects of your bookkeeping services to […]

10 Bookkeeping Tips for Startups

When launching a new business, bookkeeping might not be the first thing that comes to mind. Your priority is probably finding clients and focusing on your business’ success. However, bookkeeping is foundational to the success and financial health of your startup. Having your books in order and detailed financial statements can help you make more […]

How Bookkeeping and Accounting Services Help Small Businesses

All businesses, including startups and small-scale businesses, require a bookkeeper and an accountant. Besides managing your business’s day-to-day finances, these professionals help you track cash flow and improve your businesses’ financial health. Read along for more information on bookkeeping and accounting services for small businesses.  What Can Bookkeepers and Accountants Do for a Small Business?  […]

How a Bookkeeping Service Can Help Your Retail Business

Bookkeeping for retail business involves keeping a record of all your daily financial transactions within an organised accounting system. Maintaining precise records of your expenses, sales, receivables, inventory, and payables ensures that you create accurate financial reports and assess your business performance. Detailed and authentic records are also handy in case of a tax audit. […]

Single-Entry vs. Double-Entry Bookkeeping

One of the significant decisions you must make when starting a business is whether to use double or single-entry bookkeeping. Your business survival highly depends on your ability to maintain accurate records of all your financial transactions. So, which is the best bookkeeping system for your business? This article discusses single entry vs. double-entry bookkeeping plus […]

Should Your Bookkeeper Have Access to Your Bank Account?

Bookkeeping is a vital part of any business. As a growth-focused entity, you should have an accountant that can help guide your bookkeeping needs and keep you on track with the best practices in the industry. Like any other professional or employee in your organisation, the accountant deserves respect and trust. But what should be […]