Gold Coast Bookkeeping Rates – What’s Reasonable?

Many people dream of owning and operating a small business in the Gold Coast, and a minority of people actually do it. If that’s you, congratulations! You are a part of the exciting business ecosystem that makes up this dynamic city. As your business grows, you have no doubt thought about improving your systems to grow with it. If you’re trying to work out how much bookkeeping rates in the Gold Coast should be, and how bookkeepers can make small businesses thrive, then look no further.

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How to Write an Invoice in Australia

Many business owners are great at making sales and delivering their product to customers. However, one of the areas that many small businesses struggle with is sending out invoices in a timely manner so that they can actually be paid for their goods and services. Why do so many small business owners struggle to invoice? More often than not, it is simply a matter of time and know-how. Continue reading

What Does a Bookkeeper Do in a Business?

People who excel in their chosen field will often opt to start a business. They may think that they can simply do the work and get paid. However, there are many other facets that all contribute to your business’s success. One of the key aspects is managing the finances and reporting income and outgoings to the Australian Taxation Office. This might seem straightforward enough, but there is a wide range of factors that you need to take into account when it comes to the day-to-day running of your business. As a business owner, you may recognise that you need a bookkeeper. But what is a bookkeeper? And what work do bookkeepers do? Let us break down exactly what they are and how they can help your business. Continue reading

Online Bookkeeping: What are the pros and cons?

Online bookkeeping has many benefits

Many Australian businesses are turning to online bookkeeping services to manage their bookkeeping needs, but what is it that a small business owner should look for in a bookkeeping service, and is this the right choice for your business? Let’s look at some of the benefits and challenges associated with using an online bookkeeper to help manage your accounts.

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Outsourced Bookkeeping: Benefits vs Hiring In-House

outsourced bookkeeping services have many benefits

As a business owner, you’re probably all too aware of how important accurate and reliable bookkeeping is to your operations. It’s a function that most successful businesses couldn’t do without. Not only are there potential risks to your business if bills and payroll aren’t paid on time, the Tax Office could also come knocking when BAS lodgements are late and taxes remain unpaid. Being such an important role in your company, you might think that the safest approach would be to hire a bookkeeper in-house. However, there is also the alternative of outsourced bookkeeping that can provide greater security and flexibility, as well as time and cost benefits.

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Bookkeeping for Small Business – Expert Guide

Small business bookkeeping - expert guide

If you’re running a small business, having efficient and effective bookkeeping systems in place is crucial to giving your business the best chance at success. Regardless of whether your small business is in the start-up phase of launching or it has been trading for a while, knowing that your financial records are in order goes a long way towards freeing you up to focus on the goals of your business and helps you to make informed decisions that can impact your bottom line in the longer-term.

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End Of Financial Year Accounting Checklist

End of Financial Year Accounting for your business

The words ‘June’, ‘end of the financial year’ and ‘tax time’ often strike fear in the hearts of business owners.  Although the end of the financial year can be a very daunting and stress-inducing time, it doesn’t have to be.  When you invest in the services of a bookkeeper and an accountant, you put yourself in the best position to make this a routine, yearly process.

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When do I need an Auditor for My Organisation or Business?

do you need an auditor for your business financial accounts

An Audit is a formal examination of accounting books, documents and vouchers of a business concern in order to verify the profit and loss and the financial position of a business. It’s a systematic check or assessment of financial records of a business, department or organization to establish accuracy or efficiency. The examination of the financial records is performed by someone independent of that organisation and would include reports such as the balance sheet, an income statement, a statement of changes in equity, a cash flow statement, notes comprising a summary of significant accounting policies and other explanatory notes. Continue reading

The Importance of Having a Business Budget

According to the University of Technology, Sydney (UTS), it is estimated that one in three new small businesses in Australia fail in their first year of operation, two out of four by the end of the second year, and three out of four by the fifth year. According to a recent study by UTS, 32% of all business failures are due to financial mismanagement. Lack of cash is the single largest reason for business failure. Continue reading

Stapled Superannuation Changes

Many Australians have money in more than one super fund. That is because when a new employee does not choose a superannuation fund, their employer chooses a default super fund for them. When someone changes jobs and does not choose their own fund, this can result in having multiple superannuation accounts as new accounts are created for each job. Consequently, many people are losing track of their super funds and their money. In March 2021 there was $13.8 billion in lost and unclaimed super in Australia. Continue reading