We regularly find with our clients who use MYOB, Xero and QBO often come across the issue of not knowing what their true cost of their inventory is. Small accounting systems often only allow average cost – so you buy in a piece of stock a year ago, when it cost you $100 and buy the same piece in today at a cost of $250 – that stock cost would… Read more
Welcome back to our for more of latest updates and some ideas to help us all move forward. Australia Drops COVID-19 Vaccine Target Prime Minister Scott Morrison said he won’t set a new target date for Australians to get vaccinated, as concerns about the AstraZeneca vaccine and European export restrictions delay the rollout of the programme. Despite this, Australia is still ahead of some nations including Canada, France, and Japan… Read more
Entrepreneurs starting out in business like to have their hands on every aspect of their start-up. It is quite understandable, as many entrepreneurs come into their respective industries usually from a place of passion. Their passion may drive them to long nights at the office, working hard every hour of every day with little time for themselves. This kind of attitude can actually lead to some destructive habits and outcomes.… Read more
Welcome back to another week of news. Read on for the latest updates and some ideas to help us all move forward. Trans Tasman Travel Bubble to Begin 19 April 2021 Australia and New Zealand will create a quarantine and COVID-testing free travel bubble starting 19 April. However, flights to and from some Australian states may cease if there are future outbreaks. Australians made up 1.5 million or 40% of… Read more
Welcome back to this weeks Business News Update. With Easter upon us we take this opportunity to wish you a safe and Happy Easter and hope the lockdowns do not disrupt holiday plans! Read on for some ideas to help us all move forward. Brisbane lockdown to end Greater Brisbane’s lockdown is set to end at 12pm on the 1st April. All Queenslanders will need to wear a mask when… Read more
Especially in COVID times, more staff are working remotely and working on the road. It is often difficult for business owners to: Schedule staff, work and equipment and knowing if any are under or over allotted Knowing when to bring in more work – schedule overtime, call in casuals Let their staff know what jobs should be worked on and in what priority Let their staff know when urgent jobs… Read more
With a plethora of accounting apps sometimes it is difficult to determine what is the best way for them to communicate with the core accounting platform like MYOB, Xero, QBO and others. If your apps are not flowing data through to your accounting software, chances are you are double handling processes and creating more work for yourself. As you add more software to your technology stack the more complex it… Read more
Owning a small business in the construction industry can be incredibly stressful. In addition to the long days and difficult working conditions, you have to worry about cash flow issues. Typically it can take a long time to collect on payment from your clients or contractors who hired your business, and in the meantime you have to fulfil your commitments like pay employees, cover fixed expenses, buy supplies and pay… Read more
Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business within a certain period and gives you a clearer picture of your business’ financial health.… Read more
If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. 1. Not connecting all the bank and credit card accounts dedicated for your business Make sure that you keep… Read more
The Australian Government’s JobKeeper scheme is set to end on the 28th March 2021. Since this program was introduced in March last year, it has provided a lifeline to many businesses, protected jobs, and helped protect Australia’s economy. Now that it’s about to end, you may be worried about your business. We’ve compiled our top tips to help you prepare your business for what’s next. Create a cashflow forecast. Cashflow… Read more
Welcome back to another episode of our Business News Updates. We share the latest about COVID-19 including the vaccine rollout as well as some business ideas that may help. Phase 1B of Vaccine Rollout Begins Phase 1B of Australia’s COVID-19 vaccination rollout plan started this week to further cushion the health, social, and economic impacts of the pandemic. Priority groups in Phase 1B include: elderly adults aged 80 years and… Read more
When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge is stressful, but it’s worth it. If your business doesn’t bring in enough money to pay… Read more
Quite often small business owners struggle to understand if their business is trading profitably, then why do they not have money in the bank. It’s crucial to understand that a lack of adequate cash flow is one of the key reasons why a high percentage of small businesses may fail. Here are 4 reasons that may cause a profitable business to have little money in the bank, and what business… Read more
Welcome back to another week of news. Read on for the latest updates and some ideas to help us all make strides ahead. Active COVID-19 Cases at Near 2-Month Low Australia only has 46 active cases of COVID-19, the lowest number in nearly two months. However, authorities warned against complacency. New South Wales, which has now gone 23 days without detecting any local cases of COVID-19, also warned of a… Read more
Welcome back to another week of business news updates. Here’s what’s happened in the past week plus we share some ideas that may help us all move forward. Australia Aims to Vaccinate Entire Population by End of 2021 Australia will spend more than $1.9 billion on equipping hospitals and health centres to administer COVID-19 vaccines that will see 26 million Australians vaccinated by the end of the year, according to… Read more
Welcome back to another week of news. Read on for the latest updates and some ideas to help us all to keep forging forward. Australia Set for 10th Day of No Local COVID-19 Cases Australia is on track for its 10th consecutive day of no new local COVID-19 cases, with NSW hoping to ease restrictions this week after controlling a fast-spreading cluster. Meanwhile Victoria, which is hosting the Australian Open… Read more
Welcome back to another update from 2 Peas. Read on for the latest news and some ideas to help us all move forward. Australian Consumer Confidence Clouded by COVID-19 in January Survey The Westpac-Melbourne Institute index of consumer sentiment released today fell 4.5% in January, from December, when it rose 4.1%. This is due to new outbreaks of COVID-19 in Sydney and Brisbane, though the spread has now been contained… Read more
Welcome back to another week of Business News updates. This week we also share some ideas to help us all move forward in a more positive way in the year ahead. 2 Peas Is On The Move We are super excited to share that 2 Peas has relocated this year to nearby Oakleigh. Our beautiful new office space is bright, light and ready to house our expanding team and to… Read more
Thank you for your amazing support during this incredibly busy and challenging year. We hope you and your loved ones enjoy a safe and healthy festive season. We look forward to working with you next year and hope 2021 is a fantastic year for all! As usual, here are the latest updates and some ideas to help us all move forward. November Retail Sales Surge Preliminary data showed Australian retail… Read more