First off, let's take a closer look at inventory Management. What is Inventory Management? Inventory management, by definition, is the process of ordering, tracking, and using up everything your business stocks. From raw materials to finished goods, a solid inventory management strategy will help ensure your company runs as smoothly as possible. Why is Inventory […]

Xero Software has numerous advantages and features for small businesses. Let's take a closer look at some of the latest feature updates: Enjoy more flexibility in new reports: A custom suite of reports will help you get answers fast, and streamline your financial analysis. As part of this work, Xero have released some new reporting […]

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 […]

Zoho Books is cloud-based accounting software that makes financial management easier for small-business owners. It automates business workflows, has great invoicing features, offers free inventory software, automatically imports bank feeds and helps you stay on top of receivables and payables. It’s fast, powerful, and convenient, and it helps regain control over the company’s finances and […]

Small business owners face a variety of challenges when it comes to managing their finances, and debt management is one of the toughest. Customer debt can quickly spiral out of control if not managed effectively, which is why it’s important to follow effective debt management guidelines so that you can stay in control of your […]

Do You Ever Wonder If And When It's Time To Raise Your Prices? When to raise prices is a topic many of my clients struggle with. Typically, you should raise your prices anywhere between 5%-10% every year or year and a half. That sounds like a lot, and it can be. You have to take […]

Everything Australian directors need to know about borrowing from their company. Division 7A compliance, documentation & tax treatment explained.

This guide walks through exactly what Australian banks and investors expect to see, what you can skip, and where most DIY attempts fall apart. No fluff. Just what you actually need to get your plan done.

In this article, we’re going to be taking a look at the difference between cash and accrual accounting. We’ll cover the pros and cons of the two methods, and by the end of this article, you should have a clearer view of whether cash or accrual accounting best suits your needs. The main difference between […]

Tax planning is a legitimate way to try to reduce the amount of tax you pay and increase your tax deductions by making use of investments, tax exemptions, rebates and benefits as much as possible. Tax planning is not the same as tax avoidance. Tax avoidance involves the deliberate exploitation of the tax and superannuation […]