Starting on July 1, 2018, Australian businesses with 20 employees now have to comply with the STP or the Single Touch Payroll initiative. These same businesses are expected to have conducted a headcount of their employees on April 1, 2018 to determine their reporting requirements. But what exactly is STP and are you ready for it? Continue reading
In the modern economy, the need to efficiently and smoothly run a business has never been this important. With mounting tasks to complete, reports to create, and projects to manage, businesses find it more difficult than ever to improve their processes, including handling their own bookkeeping.
Usually, businesses resort to two options. Firstly, they can hire an in-house bookkeeper to manage their accounts, which may not be the best option for those who have a lot of accounts to handle. The second option is to fully outsource the company’s books to a bookkeeping firm.
Given today’s highly competitive business environment, business leaders need to focus on the ins-and-outs of their businesses. Online bookkeeping is one way to lessen this burden. Continue reading
Bookkeeping is just as important as innovating products and ideas. For growing businesses, keeping track of financial records and books of accounts is a crucial job that may hamper growth if not done well.
Failure or mistake in keeping books and records may have legal consequences such as missing to pay taxes due, paying wrong amounts, delays in payments and failure to evaluate the business’ performance on a regular basis. Accuracy is the bread and butter of bookkeeping and choosing the right part time bookkeeper is also an investment a businessman should look into. Continue reading
While running a successful business may be a dream, handling the bookkeeping can sometimes end up a nightmare. Depending on the volume of your business transactions, balancing your accounts and generating quarterly data can be a much of a hassle.
Cloud bookkeeper services offer a viable solution to all your woes. Here are a few reasons why utilizing these services will be great for your business while making your life easier.
Australia has always been a great place for business, but much of the economic success of the country can be attributed to small businesses. About half of all productive, working Australians are employed by small businesses and money spent by local businesses circulate within the community, generating income and jobs. This shows small businesses make a substantial contribution in tax towards the prosperity of our country.