The obvious aim of every business is to make money. The key here is to maximise income while minimising costs. In the wake of the 2020 pandemic, this has become so much harder for many businesses to achieve. One way to begin reducing costs is by looking at your bookkeeping. Sadly, you can't do away […]
Hiring your first employee? Discover the legal requirements of hiring employees in Australia, from contracts and Fair Work compliance to tax, super and onboarding.
Running a small business in Australia means managing day-to-day operations, looking for new opportunities, and working to grow. The last thing you want to do is spend hours trying to figure out the tax rate for a small business or whether you're taking advantage of all the deductions you're entitled to. This blog post will […]
If your business is like most other businesses, your finance department spends the last few weeks of the year preparing the budgets for the following year. They forecast for the year ahead by using historical data to calculate projected income and costs. Every year, trading conditions and tax law evolve, meaning that this process looks […]
Bookkeeping and accounting are both essential functions when it comes to managing your finances. Most businesses utilise both because, while there is some overlap between the two, they also have some crucial differences. They work in different stages of the financial cycle. In very simple terms, bookkeepers record business data and accountants analyse the data.
If you’re looking for ways to save time so you can focus on running your business, Dext accounting software could be the perfect solution. Designed for job costing and document management, it seamlessly integrates with Xero and QuickBooks to automate invoice processing so you can run your business more effectively. In this blog post, we’ll […]
As a business owner, you may find managing receipts, invoices, and other financial documents overwhelming. Fortunately, Hubdoc simplifies the process. By integrating Hubdoc with Xero, you can automate and streamline many of your bookkeeping tasks. This will save you time and improve accuracy and efficiency. In this blog post, we'll guide you through everything you […]
Many small business owners grapple with the question of whether or not they need accounting software. Is the cost of purchasing and time spent learning software worth it? The short answer is yes. Whether you are an individual, partnership, or company, there are numerous benefits to using accounting software. We lay out the many benefits […]
As an e-commerce store owner, you know that managing your sales and keeping track of expenses and bookkeeping is important. However, it’s also very time-consuming. You might have heard of Shopify and wondered if it’s worth paying for. But did you know that it’s not just a platform for selling products online? It’s also a […]
Cloud accounting has revolutionised the world of financial management and reporting. The emergence of cloud accounting software has been a game-changer for businesses of all sizes. It provides more flexible, efficient, and safer ways to record and manage financial data. In this article, we’ll explain what the terms ‘cloud accounting’ and ‘cloud bookkeeping’ mean. We'll […]
