Single Touch Payroll (STP) – What You Need To Do

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

Using an Online Bookkeeper – Will it Work for You?

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

Hiring a Part Time Bookkeeper – What You Should Know

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

Bookkeeping Rates Adelaide – Are You Paying Too Much?

bookkeeping rates adelaide

 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.

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Real Estate Bookkeeping – What You Need To Know

Sold Sign

Sales and client interaction tend to be favorite activities for real estate agents. While finalizing paper work and going to bed at night after a closed deal is memorable, accounting and bookkeeping is not. The last thing on any real estate agent’s mind is the accounting that happens behind the scenes. While bookkeeping is a necessary evil, it’s important to properly account for all financial activity that’s flowing through your business. Debits and credits have their place in the world; for better or worse.

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