Single Touch Payroll – A step by step guide to help you prepare your MYOB software for STP

Prepare your MYOB software for Single Touch Payroll The first thing an employer needs to do is to conduct a head count of the staff on 1st April including your casual, part-time and full time staff.   You can exclude casual workers who didn’t work during the month of March 2018.    Also, exclude directors and contractors. If you have more than 20 staff you need to prepare for Single Touch Payroll…  Read more

MYOB and Xero users get paid faster with free online payment system

Faster payments with free online payment system In the 2015/16 financial year, Australian businesses recorded an estimated $321 billion in income from orders via the internet. You don’t need to be an e-commerce business to jump on board the online payments bandwagon. Accepting money online works in every business: • Your customers can pay their invoices at a time that’s convenient to them • Customers can use their credit card…  Read more

Send invoices and receive invoices easily with Link4

Are you struggling with the sheer volume of invoices that flow into your business and struggle to enter them into your accounting software? There are many ways we can send invoices and receive invoices but it can be a time consuming process.  So we went on the journey to discover an easier way to do things and came across Link4. eInvoicing streamlines this process – allowing invoices to be instantly…  Read more

Which software is right for your business and industry type?

Are you struggling to work out which software is right for your business and industry type? Are you overwhelmed with all the software options available today? Are you looking for automation with your financial and operational business systems?  Are you struggling to work out what works best with your accounting software?  There is an overwhelming selection of applications available in the marketplace today and most business people do not have…  Read more

Single Touch Payroll – starts 1st July 2018

Single Touch payroll (STP) will be a reality on 1st July 2018 for employers with 20 or more staff and 1st July 2019 for employers with 19 or less staff. Tax File Declarations, Payment Summaries and EMPDUPE will no longer be needed. Instead, businesses will be required to report their wages, PAYG and superannuation for each employee whenever an employee wage is paid. The information will be reported directly to…  Read more

Better budgeting and cash flow?

If you have made the new year’s resolution that 2018 will be the year that you finally start doing budgets and cash flow forecasting, it is time to do something about it!  Especially if you made the same resolution in 2017. Why are these tools essential for good business management? Budgeting Allows you to set limits or targets on what the business will be incurring in expenses or earning in…  Read more

Online Selling – Do or Die?

Consumer habits are changing and so too is software innovation.  Artificial Intelligence and the internet of things (IoT) have had an impact on the retail world as we’ve known it. The consumer now has information at their fingertips anywhere anytime so the bricks and mortar store retailer needs to compete with this in order to keep trading successfully.  It is not the end for these retailers but they need to…  Read more

New Year Resolution: a better way to grow your business safely, quickly and cost effectively

Right now, 87% of small to mid-size businesses in Australia suffer from cash flow and/or working capital problems.  Yes, you read that correctly, 87%.  It’s no wonder that cash deficiencies are the leading cause of business failure… Thankfully, there is now a simple and easy way to get more cash flowing in to your company today AND prevent a cash crunch from ruining your summer holiday again this January… One…  Read more

Employing is never simple

  Employing staff is no easy task nor is it straightforward.  From the moment you take on that responsibility as a business owner or manager, you are required, by law, to follow and practice the correct laws and regulations in Australia that governs the employer-employee relationship. All types of employers and employment relationships are covered under these laws and some aspects of the law also apply to unpaid workers, volunteers and volunteer…  Read more

Setting Franchisees up for Success

“What do you mean, I have to deduct tax from payroll? I didn’t know that!” Many years ago, I visited my first franchisee to help set them up their accounting software, train them on it and show them how to do bookkeeping. When we got to the payroll, and I started showing the client how to do payroll, that was the question that she asked. She got an even bigger…  Read more

XEROCON – 2017

Although I personally didn’t attend XEROCON this year due to the clash of the titans – MYOB Partner Connect conference coinciding the same time as XEROCON.  Some of our team who attended reported the following: “WOW over 3000 people in attendance, such an electric atmosphere, it was like one big block party including DJ and laser lights!!   You could be forgiven for thinking you were at a night club rather…  Read more

MYOB Partner Connect 2017 – Alice Springs

The MYOB Partner Connect Conference 2017 hosted international, state and a national event in a beautiful part of Australia, Alice Springs.  There was a turnout of over 1000 plus partners both bookkeepers and accountants that attended these events collectively.   Alice Springs did not disappoint, it was such a buzz with a host of activities for partners to participate in over the 2 days.  We went from cuddling snakes, to…  Read more

Bookkeepers – what are the costs and benefits?

You’ve had a great idea and started your own business.  Suddenly you are a jack of all trades – you run the business, you do the marketing, maybe design your website and business card, plus you look after the accounts.  As your business grows and you start turning a profit, you realise that it might be a good idea to call on experts to polish your website, help with your…  Read more

The hidden costs of accounts receivable and how you can reverse them

While there are obvious benefits to issuing your goods or services on credit customers love to buy now and pay later, you can’t escape the costs of managing accounts receivables. Did you know it is possible to minimise the burden on your business.  Here are some of the hidden costs and how accounts receivable software, ezyCollect, is designed to reduce them: Bad debts Bad debts happen. If you’re issuing goods…  Read more

Amazon – threat or opportunity for retailers? 7 tips to help retailers

With Amazon coming to Australia any day, there is a lot of concern among retailers about the impact Amazon will have. With its vast selection of products, low prices and fast delivery, retailers are concerned that it will wreak havoc with their markets. With predictions that Amazon will capture 5% of the retail market within 5 years, retailers need to change their traditional approach in order to maintain and improve…  Read more

Simple tips and techniques on using Ostendo

Ostendo Add-on: Tips & techniques Ostendo is an add-on for MYOB, Quickbooks and Xero that provides great inventory, jobs and project and manufacturing management. Below is a video and some tips to help you use the program more efficiently. Getting the best out of the LIST views: CUSTOMISING List views are summaries – of the stock list, customers, suppliers, orders, invoices etc. When in any list view, you can right…  Read more

Did you survive the EOFY Rush?

Here are 7 Great Bookkeeping Tips To prepare for next year Did you survive the EOFY rush?  Is bookkeeping the last thing on your mind?  Do you avoid it at all lengths?  Well, join the club!  Although managing your financial records is not exciting it’s one of the most important things to be on top of. It is so easy for business owners to neglect this aspect of their business…  Read more

How Add-Ons help me to stay efficient, connected and to maximise my work day

With the introduction of so many apps and savvy online tools, my job as an Office Administrator could not be made easier.  The world of Add-Ons has changed the way people interact not only in business but with each other and their networks.   My day starts with reviewing staff timesheets, scheduling and rostering staff to client appointments.  Ostendo has streamlined this process for our business as it has also…  Read more

Payroll Year End Tips – Step by step guide

Step 1: Process the last pays for the year – make sure that any electronic and payroll clearing accounts have zero balances.  Make sure that your bank reconciliation is completed and no payroll payments are in there as unreconciled. Step 2: Print  (or PDF and save) the key payroll reports – generally, the reports that I would print would include a payroll summary for the year, a report with details…  Read more