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New technology promises the world and often falls short. Many would unfortunately understand this truth. Attempting to implement new technology for a small business, let alone a large multi-entity group is no mean feat. It’s through simplifying, consolidating and standardising that you unlock performance indicators and enable growth. Legacy software and different accounting systems can […]
Small businesses are always looking for ways to reduce their tax bills, whether it’s through tax offsets or deductions. But did you know that you may be eligible for a Small Business Income Tax Offset? The Australian government offers it to help qualified businesses with their taxes. If you are eligible, you’ll receive a rebate […]
It can be overwhelming to take care of back-office responsibilities like bookkeeping while still focusing on growing your business. Online bookkeeping services for small businesses can help. Bookkeeping services for small businesses should do more than help you track financial records accurately. A professional bookkeeper can keep track of all transactions, reconcile bank statements, prepare […]
No business gets far without sound financial infrastructure. Up-to-date and accurate payroll, bookkeeping and accounting practices help set the foundation of a successful business. So, it is important to understand the difference between payroll and bookkeeping and how, along with accounting, they contribute to your financial health. Software has simplified parts of the process, but […]
Pay As You Go (PAYG) tax instalments might seem somewhat self-explanatory. However, there are key points to know, especially if you’re new to the system. If you’ve just started your business, managing PAYG instalments means you’ve truly started on your growth journey. The Australian Tax Office (ATO) has different methods that taxpayers can use to […]
If you plan to hire a bookkeeper, one of the first questions you’ve probably asked is how much does a bookkeeper cost? Bookkeeper salary or cost for bookkeeping services can vary widely, depending on the type of service, experience, qualification, location, and more. The various pricing models—hourly rate, monthly fee, and salary—will also determine how […]
It’s a question we’ve all asked in our lives when doing our first tax return. Looking down the list of tax deductible expenses your eyes are instantly drawn to it—Uniform & Laundry Expenses. If you’re living at home, you’re most likely outsourcing your laundry to your parents. But as most of us have done, you […]
Many finance and tax rules change by country, but in the world of accounting, some principles remain the same. For example, publicly traded companies in the United States use Generally Accepted Accounting Principles or GAAP. However, many Australian, public companies that operate in the US, and elsewhere may find them useful to know. You may […]
If you’re wondering what you can claim on tax without receipts, this guide may help. In Australia, taxpayers can claim a deduction for many out-of-pocket expenses incurred while earning their income. These include work-related travel expenses, clothing and equipment costs, union fees, and other professional expenses. However, the Australian Taxation Office (ATO) requires taxpayers to […]
In this day and age, there is software for everything. The only software that doesn’t exist, is a software to choose software. *Our legal team will be in touch if you steal this idea. When running a business, you will be pressured into improving efficiencies and creating automated processes, which software can often provide. However, […]
