There are numerous types of business structure and it can be difficult to figure out which one to choose when you are starting your business or expanding it. Your choice will depend on the size, type, and needs of your business and how you want to run it. Continue reading
All businesses in Australia are legally required to report their finances to the government. There are also payment obligations businesses must meet. If your business is not in compliance with these laws, then you can incur heavy penalties. That is why it is so important to adhere to your business obligations and maintain accurate and up to date records.
Tax laws are complex and can be confusing to many people. If you are struggling to meet your business reporting and payment obligations, or you are not sure what they are or how to comply, then these are signs that you might be struggling. To protect yourself and your business, it is highly recommended that you consult a bookkeeper. Continue reading
The obvious aim of every business is to make money and the key is to maximise the income while minimising the costs. In the wake of the 2020 pandemic, this has become so much harder for many businesses to achieve.
Bookkeeping is an essential area of all businesses as they are required by law to provide details of their financial status to the ATO each year. The good news is that there are ways to reduce those bookkeeping costs. Continue reading
All businesses in Australia are required to provide financial documents to the Tax Department. Big businesses often have a team of accountants and bookkeepers, but what about small businesses? Whether you are a sole trader just starting up, or you are an established small business with a small team of employees, employing your own bookkeeper full time is probably not an option you can afford.
But having a bookkeeper is crucial for many reasons and they can help your business in numerous ways. It is good to know that wherever you are up to in your business journey, there is help available. Continue reading
Each business is unique and many factors need to be taken into account when selecting accounting software which best suits your business. MYOB is a powerful web-based accounting program which is capable of handling all of the accounting requirements of both small and large businesses. Continue reading