One of the biggest challenges for an entrepreneur, freelancer or small business owner is growing his or her business. Whether you’re a restaurateur, travel blogger or a tech innovator, scaling up is the only way to go in order to reach new markets as well as new financial heights for the business.
In the accounting industry, this growth requires new accounting complexities that need to be addressed, such as more hours spent on accounting administration and additional paperwork. And for non-accountants, this can result to bottlenecks in the workload, causing unnecessary delays. Fortunately, there are several tools available online to address this critical issue. Continue reading
Major advancements in modern technology has increased demands for accuracy and convenience and recent legislation has made cloud accounting software a must have tool for Australian business owners. With its accessibility over various devices and the fact that data can easily be transmitted to users while still being protected, it is clear why cloud accounting is used by many. The increasing demand for competent software resulted in a number of cloud accounting software products to choose from with each one having distinct features. With all these programs, how does one decide which one is best for one’s needs? Here is a quick comparison of the 3 major cloud accounting software in Australia.
All of these companies have respectable reputations and are government certified. The ultimate goal then, in comparing these software programs is to find one that is the right fit for your needs by looking at their basic functionalities, their add-on programs for complex transactions, their subscription rates, and other additional features which may be helpful such as mobile applications. Continue reading
When considering hiring the services of a bookkeeper and an accountant, there are many advantages to having them operate from the same firm. The services they provide are complimentary which gives the benefits of increased support to the business owner, saving them time, and reducing the risk of errors.
In every business the bottom line comes down to dollars and cents. No matter what industry you are in, at some point you are going to have to deal with money and managing finances. Doing this well with proper record keeping and account management can be a difficult and time-consuming task. This is where the help of a good bookkeeper can take the pressure off, allowing you to be more efficient, reducing the risk of errors and releasing you to focus on the rest of your business.
All it takes is a quick online search to see that there are multitudes of options available when looking for a book keeper; free lancers, firms and even outsourcing overseas. Finding the right book keeper can seem like an overwhelming task. Here are three things to do to start your search: Continue reading
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