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To quote a figurehead of strong business behaviours, Khloe Kardashian recently stated, “It’s all about consistency.” I couldn’t agree more. Looking across the franchise landscape, consistency is a theme that runs through many of the largest and highest performing networks. Strong branding controls, templated processes, and precise methods of execution allow franchise groups to control […]
To many people, bookkeeper and accountant basically mean the same thing. They get mixed up on who should do what. But the two terms differ significantly in many areas, despite some overlaps here and there. To answer the above vital question, we have to look at the different roles each handles, their educational qualifications, and […]
Big corporations, may have in-house accountants to help them do their financial calculations. As a tradie, you might not have one. Being a tradie does not excuse you from having crisp financial records and a clear financial understanding. Instead of investing hours upon hours learning small business accounting, which probably drives you crazy, you can […]
Financial health is the heart of every business. It plays a vital role in determining a business’s efficiency and performance. Are you about to establish a new venture? Have you been in the industry for a long time? Whatever the answer is, it is crucial to understand your business’s financial health to determine its continued […]
Starting an e-commerce business can be lucrative but comes along with some challenges. For instance, e-commerce accounting and bookkeeping can be complex and tedious. But keep in mind that these activities are among the dominant pillars in the success of your e-commerce business. Managing your finances correctly will help dictate the future of your business. […]
Bookkeeping is a vital process that helps business owners track financial records accurately. You shouldn’t avoid it if you want to keep your business organised, prepared for tax, and budget appropriately. Many small business owners are multi-tasking masters who opt to do their own bookkeeping instead of outsourcing the services from professionals. But think of […]
How is your business performing? Your answer should be based on rock-solid data and figures. We get it. Crunching the numbers and using financial ratios isn’t the exciting part of your business. Yet it’s necessary to ensure your business is financially healthy. You don’t want to grow in darkness and shoot aimlessly if you desire […]
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 […]
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 […]
Bookkeeping is an important part of any small business. It helps you keep track of your finances, which is key to staying on top of your cash flow. It also prevents you from making costly errors down the road. That being said, it’s inevitable for things to get messy from time to time. There are […]
