Single Touch Payroll (STP) is now required for all Australian Business’

  Single Touch Payroll (STP) as of 1 July 2019 is a requirement not just for those Employers with 20 plus employees that had qualified to commence reporting STP as of 1 July 2018, but also for Employers with less than 20 employees. The Australian government had announced “Treasury Laws Amendment (2018 Measures No. 4’ has been passed by the House of Representatives and the Senate and is now forging…  Read more

Tips to Keep Your Business Finances in Order

If you’re like most small business owners, you spend the majority of your time managing daily operations, keeping customers happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion. However, measuring profitability, creating realistic budgets, and planning ahead for the future are crucial to your professional success. Here are four tips to get a handle on the numbers, and…  Read more

Strengthening your balance sheet

Your balance sheet (now more correctly called a Statement of Financial Position) reveals a great deal about your business, including the total value of your assets – the things you own; how much you owe to others – your liabilities; and the level of your solvency. These three aspects will be studied carefully by lenders and investors − and by buyers if you intend to sell your business. But they…  Read more

Boost Revenue with Mobile Solutions

Could you improve your closing rate with a mobile app? If you own a tablet or mobile phone but aren’t taking advantage of mobile sales tools, you’re missing out on the opportunity to shorten your sales cycle and boost your bottom line. From CRM apps to invoicing and payment technology, there’s a mobile solution for your small business that can make it easier to convert prospects to customers – and…  Read more

How to turn your hobby into a business

Thinking about turning your passion into a paying gig? These steps will help you avoid some common mistakes as you set out to earn an income from your favorite pastime. Do you have what it takes? Unless you’ve run a business before, it’s easy to get carried away with the idea of how perfect it will be to get paid for doing what you love. Reality check: the stress of…  Read more

4 Tips for Getting Your Business Through Tough Times

If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. Here are four tips for getting your business through difficult periods so you can look forward to…  Read more

Deadline looming: Get ready for Single Touch Payroll

Do you have employees? Are you prepared for STP?  If not, now is the time to prepare as 1 July is fast approaching. By now you may have heard the buzz around Single Touch Payroll. It’s a pretty big deal for any business that has employees. So…here is what do you need to know and how it affects you and your business: What is Single Touch Payroll? Single Touch Payroll…  Read more

Email: The productivity killer

Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication on some levels and freed up employee time at first. Now, however, email has become a productivity killer. Workers have to wade through hundreds of emails in their inbox each day, and many people choose to deal with email as it comes in rather than all at…  Read more

Are you ready for Single Touch Payroll?

Do you have employees? Are you prepared for STP?  If not, now is the time to prepare as 1 July is fast approaching. By now you may have heard the buzz around Single Touch Payroll. It’s a pretty big deal for any business that has employees. So…here is what do you need to know and how it affects you and your business: What is Single Touch Payroll? Single Touch Payroll…  Read more

Signs it’s time to upgrade systems

Most small business owners can’t afford to think small. They always need to keep their mind on growth strategies to help them achieve long-term profitability. But becoming profitable in the first place often requires business owners to work long hours on a shoe-string budget. They don’t always have time to implement systems that will support them when they’re ready to scale. It’s not uncommon for entrepreneurs to use free or…  Read more

Smart money tips for business owners to stimulate their business.

Small business owners know how important it is to save money. They know that one day that dollar could come in handy, especially during slower times. Saving money is definitely important, but there are also things small business owners can – and should – spend their money on today. It might seem counterproductive to spend money when you want to put it in the bank – and make no mistake,…  Read more

Three ways to speed up invoicing

Everyone likes making money, especially small business owners. Invoicing, however, is typically one of the tasks that small business owners like the least. Chores like creating and sending invoices get set aside for other duties that are seen as more enjoyable or even more urgent. You tell yourself you’ll get around to it tomorrow, but tomorrow becomes next week, next week becomes next month, and suddenly you realise your client…  Read more

How we helped save Spencer & Co hours of time

Streamlining Hospitality Businesses Pam Madytianos sat down with Carmel of Spencer & Co and the team at MYOB to look at the improvements that have been made in their business so far. Watch the video to listen for yourself. Spencer & Co used to waste 30 hours a month in creating spreadsheets. They just wanted something easy to use that wouldn’t take as much time, so they turned to 2…  Read more

Catch Pam on the Apps4Wholesalers stage!

Software for Inventory Businesses. You can catch Pam Madytianos speaking at the Apps4Wholesalers conference & technology showcase in Parramatta next week. The conference is jam-packed with ideas and technology to improve your inventory based business. The session Pam has been asked to present as part of a panel session focused on inventory businesses. They’ll be discussing SME vs ERP and the evolving line for inventory distribution, manufacturing, wholesale businesses between…  Read more

How 2 Peas helps transform businesses

We’re here to help business owners with more than just bookkeeping. Listen to Pam Madytianos on The Transformative Advisor podcast. Our very own Pam Madytianos was asked to join Joe Woodard and Ben Ross on The Transformative Advisor podcast this week. Pam spoke about the 2 Peas journey and how the business has changed over time from mainly data entry and bookkeeping to more business advisory. This came about because they…  Read more

How do I prepare for STP?

STP Reporting timelines STP (Single Touch Payroll) for is now upon us for employers with 19 or less employees not just those with 20 plus employees. Employers with 20 plus employees that qualified commenced reporting STP as of 1 July 2018, whereas smaller and micro businesses are now expected to get themselves STP-ready come 1 July 2019. The Australian government has just announced “Treasury Laws Amendment (2018 Measures No. 4’…  Read more

Cash flow is the life line of any business, what are you doing to increase yours in 2019?

With the New Year well and truly upon us, this is the time for business owners to take a stronghold of their cash flow. It is so easy for SME’s to continue running their business and not take the time to stop and review how their business is actually performing. Whilst some business are performing well, there are others that are struggling with their cash flow. As advisors we love…  Read more

How much does your paper shuffling cost your business?

It always amazes me when working with our client’s businesses how many of their offices are still dealing with a paper jungle.   Many small businesses seem to be behind the times and are paying accounting staff to paper shuffle piles of supplier invoices and credit card receipts. I can quickly ascertain how outdated some business system are by the stacks of paper and filing cabinets in their office, including…  Read more

Are you still on old desktop MYOB software?

Do you have a contingency plan when MYOB discontinues supporting their desktop MYOB Classic V19 and below? From 30 September 2019 MYOB have announced they will be discontinuing support of AccountRight Classic commonly known as V19 and below. What does this mean for you? MYOB will no longer provide: New Features Patches Compliance updates Technical product support Updates for any future Windows operating systems You may think you can live…  Read more

The Brave New World of Bookkeeping!

From traditional bookkeepers to business advisors Traditional bookkeeping was a matter of recording lots of data and then reconciling it, to make sure it was accurate. With more artificial intelligence (AI) appearing in our accounting software, the traditional role of the bookkeeper is being replaced by automation. At 2 Peas, we embrace the changes to the industry. We see our role changing from being traditional bookkeepers to being advisors to…  Read more