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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 […]
If you’ve hired the services of a bookkeeper, you’ve likely come to appreciate the value they bring to your business. From staying on top of financial paperwork in time for the tax period, bookkeepers are now applying analytical and strategic skills to elevate businesses. Bookkeepers are also moving away from working from an office you’ve […]
Bookkeeping as a service is the new way to develop and maintain your business’ financial processes and management, at a fraction of the cost. Gone are the days when businesses had to hire an in-house accountant or bookkeeper and incur ongoing expenses like training and upkeep. Today, outsourcing all aspects of your bookkeeping services to […]
When launching a new business, bookkeeping might not be the first thing that comes to mind. Your priority is probably finding clients and focusing on your business’ success. However, bookkeeping is foundational to the success and financial health of your startup. Having your books in order and detailed financial statements can help you make more […]
Outsourcing your payroll involves working with a third-party provider to streamline your payroll tasks and process. Outsourced payroll providers leverage expertise and technology to help you complete these tasks quickly and accurately. You don’t have to manually work out the calculations or handle the administrative activities yourself. Outsourcing simplifies the process to reduce the stress […]
All businesses, including startups and small-scale businesses, require a bookkeeper and an accountant. Besides managing your business’s day-to-day finances, these professionals help you track cash flow and improve your businesses’ financial health. Read along for more information on bookkeeping and accounting services for small businesses. What Can Bookkeepers and Accountants Do for a Small Business? […]
The last few years have been tough for small businesses in Australia and New Zealand. One study found that 63% of small businesses in Australia were negatively affected by COVID-19. In New Zealand, 43% of small businesses said they either had used or planned to use government wage subsidies to survive. When times are uncertain […]
Bookkeeping for retail business involves keeping a record of all your daily financial transactions within an organised accounting system. Maintaining precise records of your expenses, sales, receivables, inventory, and payables ensures that you create accurate financial reports and assess your business performance. Detailed and authentic records are also handy in case of a tax audit. […]
