7 Hacks to Find a Competent & Technology-Proficient
Proactive collection strategies ensure prompt payment recovery, minimizing bad debt risks. BAS accounting typically involves recording all transactions related to these areas and ensuring they’re reported correctly in the statement.
8 Common BAS Lodgement Mistakes (and How to Avoid Them)
Lodging your Business Activity Statement (BAS) accurately is crucial for complying with Australia’s tax laws. The BAS is used to report and pay various tax obligations, including Goods and Services Tax (GST), Pay As You Go (PAYG) withholding, and other taxes. However, the complexity of BAS can lead to errors that might result in penalties, […]
Complete Guide to BAS Lodgement: Step-by-Step Process and 7 Common Mistakes to Avoid
Running a business in Australia comes with numerous responsibilities, one of the most crucial being the lodgement of Business Activity Statements (BAS). BAS lodgement is a key aspect of business compliance, required by the Australian Taxation Office (ATO). Whether you’re a small business owner, a sole trader, or manage a large corporation, understanding how to […]
DIY Bookkeeping for Australian Small Businesses: A Comprehensive Guide
Starting a new business in Australia is an exciting venture, but it also comes with numerous responsibilities. One of the most crucial aspects of managing a business is keeping accurate financial records. While hiring a professional bookkeeper is an option, many small business owners opt for DIY bookkeeping to save costs. This comprehensive guide will […]
5 Essential Tips for Organizing Your Business Financial Records
As a business owner, staying on top of your financial records is not just good practice; it’s essential for your business’s success. With the right organization, you can save time, reduce stress, and make informed financial decisions. In this quick-read blog, we’ll share five valuable tips to help you streamline and manage your financial records […]
Bookkeepers vs. Accountants: Understanding Their Crucial Roles in Your Business
As a small business owner, you wear many hats. But when it comes to financial matters, you may need some expert help. Two key players in your financial team are bookkeepers and accountants. In this brief guide, we’ll demystify their roles, helping you understand when and why you need their services. Table of Contents 1. […]
Understanding Financial Statements Made Easy
As a small business owner, you’re busy running your company, but you also need to keep an eye on your finances. Financial statements might sound complex, but they’re crucial for your business’s success. We’ll break down the essentials of three key financial statements: income statements, balance sheets, and cash flow statements below. Table of Contents […]
7 Hacks to Find a Competent and Technology-Proficient Bookkeeper Without Breaking the Bank
In the fast-paced world of small business, managing finances efficiently is paramount to success. A competent and technology-proficient bookkeeper can be a game-changer, ensuring accurate financial records and providing insights that can help drive strategic decisions. However, for many small business owners, the cost of hiring such expertise can be a concern. This article will […]