What is it about ugly sweaters? Bill Cosby and Chevy Chase made them fashionable last century and they sprung up again nearly 30 years later. Being that I celebrate Christmas in the sweltering heat of the Queensland summer, there’s definitely no way I could wear any type of sweater (ugly or not) on Christmas! So […]
For many, the word ‘budget’ is about as appealing as the word ‘diet’. It seems to imply what you will go without, rather than what you will achieve. To a successful business owner, however, the word ‘budget’ has a very different meaning. It’s more like a map than a diet. It’s an outline of where […]
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As a business owner, there are plenty of things you need to manage, and two of the most important of these are assets and risks. In other words, building your wealth and protecting your wealth. Let’s talk about asset protection There’s no point building a lot of wealth if the way you have things structured […]
Read More… from Asset protection: Are you inadvertently putting your family home at risk?
Have you ever had one of those days where you’ve got a really big job to do and you don’t quite know where to start? Maybe it’s a difficult job that you’re finding hard to tackle. Are you pushing paper around, procrastinating upon it, and doing anything else to avoid starting? I know the feeling. […]
Debtors and late-payers—the bane of every business owner. No matter how profitable your business is, it won’t survive without good cash flow. If you can’t pay your bills on time, you may end up trading while insolvent. And that’s not just bad business—that’s illegal. But to do that, you need your clients to pay their […]
Read More… from 4 apps to stop late payments affecting your business’ cash flow
Does your business charge a credit card surcharge for accepting different payment types? This is a fairly hot topic in Australia. The ACCC are cracking down so here’s what you need to know. I don’t know about you, but I rarely have cash in my wallet these days. Paying with card is so quick and […]
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They say only two things are certain in life: death and taxes. For a lot of people, there’s also a third certainty in life: the pain of managing receipts when it’s time to do the bookkeeping. How many times has your bookkeeper asked you for a receipt (that you swore you stuffed somewhere in the […]
I’ve written about the importance of Two Factor Authentication (2FA) before. If you’re a subscriber or payroll administrator in Xero is now mandatory. Learn more: Two factor authentication and why it’s important Two Factor Authentication creates an extra layer of security by requiring you to enter a code that’s been generated by the authentication app on your […]
The $20,000 Instant Asset Write Off – you will have heard about this as it’s been around for a while, and it’s been extended to 30th June 2018. That means if you buy an asset than costs less than $20,000 you can immediately claim the full deduction rather than expensing it over a set number […]
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Get ready for Single Touch Payroll If you employ staff in Australia you should be aware of Single Touch Payroll. Firstly, a little recap on Single Touch Payroll. STP is an ATO reporting change that has you report your payroll information at the same time you pay your employees. Say goodbye to end of year […]
We all know the importance of having documented systems in our business. But many of us are guilty of keeping those systems up in our heads. That’s all well and good until you hire staff and want them to do things the same way as you. Or if you need somebody to step into your […]
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We’re a bookkeeping firm and love paper – but we’re a cloud bookkeeping firm, so we’re also passionate about having a paperless office. Reducing the amount of paper you use can give you more flexibility and it obviously saves you money. But it’s not something that you can do overnight and it does take some […]
ABN – every business in Australia must have one. And the law states that every business making a payment must check the validity of their suppliers. They must check that: Suppliers have provided an ABN and that it is a valid ABN and it belongs to them. Check that the supplier is allowed to charge […]
Did you know….? Some email accounts, (typically free accounts or those as part of a wider service like gmail, Hotmail even Bigpond, Optus etc), are routinely and systematically scrutinised and analysed for what you are doing and what you are sending and who to. Email bounces via of a number of servers and through various services between […]
An employer may approach an employee to change their type of employment for a number of reasons. Equally an employee may wish to change their employment status for a number of different reasons. Regardless of which party instigates a request for a change, the employer should advise the employee the effect the changes (if any) will have on their conditions of employment […]
We hear it often – work life balance. It seems to be the solution to reaching optimal mental health and something easy to attain, doesn’t it? Balance and Bookkeeping When looking at a set of accounts in a business, it is simply what hits one side must hit the other. Can’t balancing life be the […]
When was the last time you took a holiday? Do you wait until the December shut down to take a holiday? When December hits it is as though something occurs to the way that timeframes, deadlines and priorities, which usually are taken in your stride, somehow seem to impact harder. The annual shut-down of a business equally […]
Business success – it’s something we all strive for, right? Have you ever looked at some of your colleagues and wondered how they’ve managed to achieve their ‘business success’? You know the people I mean – the ones who seem to have exceptional relationships with companies you can’t get close to, the ones who have […]
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