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ATO, Automation, BAS, Bookkeeping, Case-study, Cloud-accounting, Customer, Email, Events, Festival, Financial-reports, GST, Legislation, Management, MBA, MYOB, Quickbooks, Small-business, Social, Stress, Superannuation, Taxation, Team, Time, Training, XeroEntries in category "The Business of Bookkeeping"
3 comments
Ahhh New Financial Year, how you excite me!
This is my first Financial Year roll over as a Bookkeeper - I never thought it could be so exhilarating. I have learnt so much in the last 6 months and I’m really looking forward to learning even more!
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Category: The Business of Bookkeeping
Tag: Small-business
2 comments
What would you do with 28 free days in August?
What are the advantages of using a BAS Agent for bookkeeping and BAS lodgement? One big plus is a 28 day extension on your due date, meaning you can hold on to cash for longer.
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Categories: A Word to the Wise, The Business of Bookkeeping
Tags: BAS, Bookkeeping
4 comments
Bad Day Bookkeeper
I woke up with a tummy ache, got out of bed and into the shower. Fell over in the shower. Got dressed and my cat Bella attacked me (I have puncture wounds). Walked out to my car and discovered a flat tyre. Took the spare car which broke down on the middle of…
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Categories: A Word to the Wise, The Business of Bookkeeping
Tag: Social
1 comment
Working Like a Machine
As a new recruit in full-time bookkeeping, I’ve been learning one massive trick of the trade: how to do less work! Or, more specifically, how to spend less time working and get the same result.
No one likes mundane data entry (even us bookkeepers…shh, don’t tell!). We know how to use our accounting software to automate the boring bits. This has the double benefit of keeping the cost down for you and keeping us happily balanced individuals. Read on…
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Categories: A Word to the Wise, The Business of Bookkeeping
Tags: Automation, Bookkeeping, MYOB
1 comment
From Xero to Hero
It has been too long since our last blog! It’s because we have been very very busy - we have found something amazing! Something that has been interesting for Abacus and for our clients. So, if you are running a business and would like to supercharge your bookkeeping system… read on…
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Categories: A Word to the Wise, The Business of Bookkeeping, Really Useful Software Training Tips
Tags: Bookkeeping, Cloud-accounting, Xero
1 comment
Bookkeeping & Body Art
It’s not everyday I get to combine my love of bookkeeping with my love of tattoos. Last week I was pleased to meet entrepreneurs Adele and Steve from TattooInk.TV - a new and exciting business bringing the world of tattoo art to the Internet in one big and beautiful directory.
One thing we love about our job is the variety of businesses we meet along the way so let me introduce you to TattooInk.TV
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Categories: A Word to the Wise, The Business of Bookkeeping
Tags: Bookkeeping, Cloud-accounting, Xero
0 comments
Keeping an Eye on the Cloud
We like to think of ourselves as an open minded and forward thinking organisation. In the spirit of this declaration, it’s about time we gave a nod to the increasingly expansive and hotly debated rise of Accounting in the Cloud.
We must all be forced to admit that in the last 5 years or so, our dependence on the internet has grown. From shopping to banking; from getting directions to keeping in touch with friends & family; from researching life decisions to the notorious Dr Google, we have become a nation with a fixation.
And when it is possible to do something online, how often do you choose to do it another way?
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Categories: A Word to the Wise, The Business of Bookkeeping
Tags: Bookkeeping, Cloud-accounting, Xero
14 comments
BAS Due Date (Part II) - Not the end of the World
If you read our last blog entry you should be feeling more confident about having enough cash on hand for your next BAS due date. But what if you are going through a cash flow crisis and don’t have enough cash set aside this time?
Believe it or not - your biggest ally could come from an unexpected quarter - the Australian Taxation Office. The ATO knows it is in everyones best interest to support small businesses through tough times. Here are some examples of valuable support the ATO can provide you so as to keep small businesses up and running (and therefore keep the Australian economy humming!).
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Categories: A Word to the Wise, The Business of Bookkeeping
Tags: ATO, BAS, GST, Small-business
0 comments
BAS Due Date - Are you ready?
Do you dread your BAS due date?
If you are like most small businesses with limited cash flow, BAS day probably feels a bit like DOOMS day! Three months worth of GST collected can be hard to scrape together if you haven’t been planning for it. And worse still, many businesses are not keeping up to date bookkeeping records so are taking a bit of a stab in the dark as to how much their GST liability will be this time!
Don’t despair… take these simple steps and BAS will be your friend, not your foe!
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Categories: A Word to the Wise, The Business of Bookkeeping
Tags: BAS, Bookkeeping, GST
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Your ducks in a row - Tax Planning for End of Financial Year
As we speed along towards the fourth and final quarter of the 2010 tax year, now is the time to take preparatory action for the year end.
Keeping in mind the Concessional Superannuation Contribution Limit is only $25,000 for the 09/10 year, you may be looking for other options to help minimise income tax payable. A few strategies that a lot of businesses take advantage of are:
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Categories: A Word to the Wise, The Business of Bookkeeping
Tag: Taxation
38 comments
Common GST Mistakes
In an effort to provide some pointers on common GST misconceptions and errors, we include the following list for your consideration. This is by no means exhaustive, and you should always have a qualified BAS agent check your returns or answer your GST queries.
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Category: The Business of Bookkeeping
Tags: Bookkeeping, GST
15 comments
Reportable Superannuation changes to Payment Summaries
Are you aware of the changes to payment summary procedure this year?
For the 2010 payroll year – that’s July 2009 to June 2010, the ATO will require additional information. The key term that has been introduced with this legislation is reportable superannuation. The simplest definition of this would be any superannuation paid that satisfies the following criteria:
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Categories: The Business of Bookkeeping, Really Useful Software Training Tips
Tags: Legislation, Superannuation
0 comments
To Email, or not to Email?
I am including this blog, although it may seem like a less than groundbreaking topic. I recently suggested to a client, with a customer base of over 100 active entities, that it was time to invest a small amount of energy setting up emailed customer statements - rather than physically mailing the statements.
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Categories: The Business of Bookkeeping, Really Useful Software Training Tips
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Take a Lesson in Understanding Financial Reports
As trite as this may sound – take a moment to ask yourself a question: Why do you have a bookkeeper?
The fact is that a major proportion of small business owners have a bookkeeper to help produce the quarterly or monthly GST and tax returns, and don’t really expect – dare I say, dream of – much more beyond this.
Your bookkeeper is in an excellent position to take you as many steps beyond basic compliance as you wish to take. Once transactions have been processed, the holy grail of the bookkeeping world becomes attainable – the financial reports… And if this doesn’t excite you – it should.
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Categories: A Word to the Wise, The Business of Bookkeeping
Tags: Bookkeeping, Financial-reports, Small-business
1 comment
Greetings!
‘The business of bookkeeping and more…’ aims to be a knowledge database for small businesses and the people who run them. Being a small business ourselves - and being passionate about making a success of ours - we know first hand what you might be going through on your path to entrepreneurial triumph!
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Categories: A Word to the Wise, The Business of Bookkeeping, Mini MBA, Really Useful Software Training Tips
Tags: Bookkeeping, MBA, MYOB, Quickbooks, Small-business