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Running a small business comes with its fair share of challenges, but understanding your finances shouldn’t be one of them! Bookkeeping isn’t just about keeping records; it’s about playing by the rules, especially those set out by the Australian Taxation Office (ATO). At its core, bookkeeping is the process of recording all a business’s financial […]
What Is Bookkeeping for Small Businesses? Read More »
All Australian business owners, take note: A Business Activity Statement (BAS) isn’t just paperwork; it guarantees crucial compliance with Australian tax laws! Lodging a BAS ensures your business is paying the correct amount of tax to prevent legal issues, build a reputation for reliability, and secure financial benefits through appropriate deductions and credits. How can
Examining BAS Statement Examples To Help You Lodge Your BAS Read More »
Running a business is like putting on a stage show; bookkeeping software is the backstage crew, silently orchestrating your financial performance to perfection. How? Proper bookkeeping keeps you playing by the rules of Australian tax laws and gives you the clarity needed for smart decision-making. Bookkeeping software helps you achieve all this. Gone are the
Bookkeeping Software: Your Business’s Lifeline Read More »
In 2024, the cost of an accountant in Australia is more than a financial consideration for small business owners; it’s a strategic decision. While you might be tempted to go for the lowest quote, remember that expertise and reliability can save you money and headaches in the long run. The right accountant will offer more
How Much Does an Accountant Cost in 2024? Read More »
Accounting is a vital profession that forms the backbone of the business world. What is an accountant? A professional who prepares, manages, and analyses financial records and reports. They also ensure compliance with financial laws and regulations. Accountants are more than number crunchers; they’re financial storytellers, interpreting financial data to guide businesses toward success.
What Does an Accountant Do? Read More »
As of June 2023, Australia is home to nearly 2.6 million actively trading businesses. A significant number of those businesses are subject to Business Activity Statement reporting. Think about it: that’s millions of “scorecards” the ATO needs to track to keep the game fair and square. Why? To make sure everyone contributes their fair share
How To Do a BAS Statement in 11 Steps – A Complete Guide Read More »
Keeping your finances in order as a business is a key priority, but what is the best way to get ahead? Whether you choose to hire in-house or outsource to a specialist service, bookkeeping is a valuable and essential addition to your business practices. If you’re wondering ‘how much does a good bookkeeper cost?’, we’ve
How Much Does A Bookkeeper Cost in Australia Read More »
If you are familiarising yourself with bookkeeping-related terms, you might ask what exactly is bookkeeping? Our bookkeeping for beginners guide is a good place to start. But dig a little deeper and another question that may come up is “What is double-entry bookkeeping?’ This is one of those bookkeeping terms that needs a little more
What Is Double Entry Bookkeeping? Read More »
Choosing the right type of accountant for your business is like choosing the right tool for a handyman job. While some tools may look the same, there can be significant differences in how they work. For example, choosing a metal cutting blade to cut through some timber will waste energy, time, and resources.
Types of Accountants: What You Need To Know Read More »
End of quarter means it’s time to submit another Business Activity Statement for your business. These are issued by the Australian Tax Office and are essentially a facility for you to report the money that has come in and gone out of your business to cover a range of tax liabilities. Failure to submit your
BAS Preparation Checklist Read More »
