There’s the glamorous side of real estate, the adrenalin rush of hustling to add another property to your portfolio and scoring a commission upon its sale. The side that shows like Selling Sunset love to depict. But we rarely see any of these high-flying agents sitting down to ‘do the books’ at the end of the day. That’s because real estate bookkeeping and accounting isn’t as sexy. And often it’s the multi-tasking Receptionist back at the office doing the financial paperwork, inbetween fielding sales enquiries and making appointments.

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Here is a list of answers to common questions that we get asked regularly about bookkeeping services, GST and tax and accounting software.

Q: I have started my business, registered for an ABN and Business Name and now I need to know what to do next?

A: A part of running your new business is record keeping and you are obliged to keep your records for a minimum period of 5 years. Continue reading →

Your business is thriving, and you’re seeing all your hard work finally come to fruition. Your customers are happy, which makes you even happier. Keeping them happy is your objective, and as of right now your business is in the right place to do just that.

With the end of the fiscal year fast approaching, you need to ensure that all of that customer happiness is translating to a happy balance sheet. Since you’ve been busy managing inventory and sales, you’ll be in need of someone who can be trusted with your business’ finances (that is, if you haven’t yet already found that someone). When you’re having your books managed, you are given options. There are bookkeepers, and there are registered BAS agents. Each option has its benefits, and each differs slightly. Whichever you choose to use will directly impact your business in a positive way. It just depends on your needs. In this post, we’ll examine bookkeepers and BAS agents and determine exactly what the difference between the two really is.

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In today’s business climate, you need to be proactive. Planning ahead for issues that may come your way will ensure that you don’t have any surprises or headaches when year-end arrives. With that said, running a business requires you to be reactive. Striking a balance between planning for the things you can plan for and reacting to the things you can’t is difficult. That’s why your operations need to be as streamlined as possible. Continue reading →

If you’re running a small business in Australia, chances are you’re constantly pressed for time. Preparing and lodging your business payment summaries would certainly take time, good thing the Australian Tax Office (ATO) now allows certain reports to be lodged online.

If the type of annual report you’re going to lodge is all about payments you have made regarding work, which includes salaries and wages, then you’re in luck as the ATO allows Pay-As-You-Go (PAYG) withholding payment summary annual report to be lodged online.

The only question is, how do you prepare and lodge your business payment summaries online? Continue reading →

Owning a small business on the Gold Coast is always exciting. It’s an uphill battle most days, but owning and operating your own venture creates a great sense of pride and purpose. While the sense of accomplishment is running high, many people that open businesses tend to overlook certain aspects of the operation. One such area that isn’t very glamorous is bookkeeping that needs to be taken seriously. Continue reading →