Why EOFY Spending may NOT be good for business.

It’s almost 30 June and so begins the bombardment to “buy now to get a tax deduction this financial year”. But is this always true and is it always a wise decision? Do small business owners even consider their financial position before making these decisions? Are you spending $1 to save 30c? Consider the following before you make that EOFY purchase: 1. Do you really need it? Buying stuff you DON’T need seems like a poor business move to me. If you really need to offshoot some funds hire a… Read more »

Outsourcing to a Professional Bookkeeper Will Save You Money!

Outsourcing to a Professional Bookkeeper Will Save You Money! Many small and medium businesses (SMEs) employ an onsite bookkeeper with the misconception that they are getting an employee with experience and commitment to the business.  Often this is the case but only if they are lucky enough to find a capable bookkeeper with a thorough knowledge of accounting principles and accounting software. So many clients that come to us bring with them various horror stories.  Within the first week of our review we often notice the double payment of creditors,… Read more »

Payroll Record Keeping – Don’t be caught out by what you DON’T KNOW

Former Canberra Cafe Operator Faces Court   –   10 March 2017 The former operator of a Canberra café is facing Court for alleged serious contraventions of record-keeping and pay slip laws. The Fair Work Ombudsman has commenced legal action in the Federal Circuit Court against Global Trading and Investment Group Pty Ltd and its former director, Dr Nathem Al-Naser, who formerly owned and operated Café on Benjamin, located at the Westfield Belconnen Shopping Centre. It is alleged that when Fair Work inspectors attempted to audit Café on Benjamin, the limited availability… Read more »

50% off MYOB

We’ve got a great offer from MYOB that we highly recommend for you. With tax time just around the corner, we think now is the perfect time to move your accounting file online to start the new financial year with efficient new processes and the latest tax updates. If you choose to move your desktop AccountRight file online before June 30, you’ll receive 50% off for a 12 month subscription.

Single Touch Payroll – an update from the ATO

Your Payroll seen by the ATO ……… All year.   The Single Touch Payroll (STP) legislation has passed through Parliament. It is law and is going to happen! Who? All “substantial” employers, (more than 20 employees by headcount), must participate. The count happens as of 30 April each year. You must enter STP as of 1 July 2017. Anyone can elect to enter STP earlier. What? You submit payroll and superannuation data to the ATO each “PayEvent”. A PayEvent is each time you pay someone and should be generating a… Read more »

Micro Energy Systems Australia

Kathy installed and set up MYOB for our electrical contracting business. Her knowledge of bookkeeping and wizardry of MYOB software is outstanding but it is her ability to convey this information that sets her well apart. Kathy is adept at identifying problems and providing solutions in the most organised and proficient way. Nothing phases her. “The woman is a bookkeeping goddess”.

Do Cheap Bookkeepers Save You Money ?

It seems that these days you can get a bookkeeper from $20 an hour upwards. Maybe they are the like the “Two Dollar Stores” of this world. They hope to be able to do a large number of clients’ books quickly at a low cost, and make a living based on turnover. It begs the question: Is a cheap bookkeeper cheap because they themselves do not value their work or worth? Maybe the cheapest bookkeeper has never run a business in their life? Maybe the cheapest bookkeeper is just starting… Read more »