COVID-19 Business Update – 24 June 2020

How quickly the weeks rollover, welcome to another Weekly Digest. Hopefully you and your family are safe and well.  Here is this week’s update. Cash Flow Boost 2 is about to be released If you received the first cash flow boost, you’ll automatically receive an additional cash flow boost once you lodge your activity statements for each month or quarter period from June to September 2020. The amount will be…  Read more

Future Proofing your organisation – budgeting during COVID-19 Webinar

Join our very own Pam Pitt in our webinar series on “Future Proofing your organisation – budgeting during COVID-19”. Date: 18th June 2020 at 11am -12noon. Register here Budgets and cash flow forecasts are more important than ever in the COVID-19 world. Learn how to create a budget and cash flow forecast whilst carefully considering the long term impacts of COVID-19 on your organisational strategy and budget forecasts. Using Calxa as…  Read more

Are you ready for payroll year end 2020?

Well, it has been a strange year so far, with the traumas of the terrible bush fires starting 2020 and then of course, the fear and disruption of COVID-19 impacting so many of us. So it is hard to turn the mind to the more mundane tasks that we have to face.  But there is still the financial year end to finish off, which is a bit of a stressful…  Read more

Instant Asset Write-Off Extended to 31 December 2020!

Some further relief for business! On the 9th June the government announced that the Instant Asset Write-off is to be extended for and additional six months, taking the initiative to 31 December 2020.  The proposed change is subject to the parliamentary process before it becomes law.  This means Australian businesses with an aggregated turnover of less than $500 million annual turnover (up from $50 million) will be able to take…  Read more

COVID-19 Business Update – 3 June 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. JobKeeper Key Dates. The ATO recently extended the deadline for monthly declarations required for JobKeeper claims. The business monthly declaration needs to be done between the 1st and the 14th of the month which gives those who are eligible more time to lodge. To be reimbursed for…  Read more

Valuable business lessons learned during COVID-19

Many small business owners are astounded by how the world has been impacted in a short time with COVID-19.  One can only hope this pandemic is a once-in-a-lifetime scenario, but that reality is this uncertainty has taught us some valuable lessons.  Business owners must plan ahead in order to survive. Although your business may have been impacted and business as you know it may have changed drastically over the last…  Read more

2 PEAS – Awarded Finalists in 5 categories of Accountants Daily Awards for 2020!

The Accountants Daily is an online publication for the accounting and bookkeeping industry. Every year, they host the Australian Accounting Awards, recognising excellence in the industry. This year, 2 Peas is incredibly proud to be national finalists in not just one, but 5 categories! So what are we actually up for? Innovator of the Year. Many of our clients have benefitted from the innovation that 2 Peas brings to their…  Read more

COVID-19 Business Update – 27 May 2020

Welcome back to our Weekly Digest. We hope you and your family are doing well. Read on for this week’s update. JobKeeper Key Dates The ATO’s website has a list of key dates relevant to JobKeeper which you might find handy. Not-for-profits and charities can find some JobKeeper information here also. If you are still wondering if you are eligible, or what schemes apply to you and your business, get…  Read more

10 tips small business owners can adopt to ensure continued growth

During times of crisis your continued business growth is dependant on many factors including collaboration, improved marketing, customer service as well as innovative strategies.  Here are some useful tips you could introduce into your business that are quick and easy to implement. 1. Improved customer service Businesses with good customer service retain their clients as well as attract ones.  Word-of-mouth is the most powerful marketing tool.  Even if you think…  Read more

COVID-19 Business Update – 20 May 2020

Welcome back to our Weekly Digest. We hope you and your family are doing well. Here is some of what’s happened this week. Restrictions are easing slowly Last week we mentioned the government’s state-by-state road-maps to relaxing restrictions. Most states have started their road-map and as a result, some businesses are gearing up to reopen.  If it’s still a little while away for your business – do hang in there,…  Read more

As restrictions lift, here are 4 tips for re-opening your business

As business owners look to life after COVID-19, an important factor to consider is what the plan is to reopen your business?  For most businesses, the easing of restrictions doesn’t mean things go back to the way they were or business as usual.  There are still rules and regulations in place stipulating how companies can operate, including how many people can be on their premises at one time and how…  Read more

COVID-19 Business Update – 13 May 2020

Another week has passed and how quickly the roll over!  Hopefully you are staying safe and healthy.  The news we have all been waiting for late last week was the government’s three-step plan to relax coronavirus restrictions. It’s great news for our country as well as our economy – so well done to everyone for playing a big part in “flattening the curve!”  Please be careful from here by maintaining…  Read more

When money is tight here’s 4 steps to build those cash reserves

When funds are tight building a cash reserve is not easy.  You need money to continue running your business so it is crucial to keep your reserve account healthy.  Keeping a “war chest” for those challenging times enables you to take advantage of an opportunity or overcome unexpected costs during those critical times. Here are 4 ways to build or preserve cash during a crisis. 1. Transfer any additional money…  Read more

COVID-19 Business Update – 7 May 2020

In this week’s update, as well as some updates on government support for businesses, we’ve included a number of resources to help with navigating your business out of the dire situation we’ve all been in. No doubt there are still tough times ahead but there are many reasons to be hopeful and we’re here to help you through it all. JobKeeper The first JobKeeper payments are expected to flow this…  Read more

4 Tips for marketing on a tight budget

During a financial crisis, a company’s marketing budget is often the first to go.  However, removing your marketing cost entirely is a dangerous move.  Although stress levels are rising and pressure is mounting as a result of finances it is now more crucial than ever to keep your marketing going.  It does not have to be at a big cost.  Try these tips for marketing on a tight budget. 1.…  Read more

Are you sure you are eligible for the government stimulus packages?

Our role as advisors is to support small businesses, but we cannot compromise our standards along the way, particularly as the effects of COVID-19 continue to rage on for our clients. The Tax Practitioners Board (TPB) together with the ATO recently released a statement as a reminder of the ethical responsibilities of accountants and bookkeepers. The core of their message was that the ATO will not look favourably on businesses…  Read more

Synnex Security Webinar presents 2 Peas, Webroot and AppRiver – “Secure Your Business Future”

Synnex Australia thank you so much for inviting 2 Peas to be part of your security webinar alongside industry leaders from Webroot and AppRiver to educate business owners on how to secure their business for the other side. With Coronavirus affecting the world and the sudden impact it has on businesses around the world security and future proofing our business has never been more relevant. Webroot educated the audience on…  Read more

Ways to run your business if your premises are closed

The pandemic has challenged many small business owners. It’s not easy to run your business remotely, especially if you’re not set up to do so. If you run a business that requires customers or clients to come to you, you might be very concerned about how you can continue to operate if your premises remain closed. If you have access to technology, are adaptable, and are willing to look into…  Read more

Communicating during a pandemic is key to business survival

Many small business owners are faced with difficult times ahead as a result to COVID-19.  It is an unprecedented time and one that will require you to have some difficult conversations with your suppliers, clients and employees that may be both uncomfortable as well as stressful. Whether you’re communicating with employees about business issues during the pandemic, hoping to negotiate a rent reduction or changes to credit terms, or asking…  Read more

JobKeeper Eligibility Tests Unveiled

The ATO has just released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test. This is good news for many businesses, particularly startups, those affected by last year’s droughts and those with variable revenues. Basic Test If you satisfy the eligibility requirements for the basic test, you can ignore the alternative tests below. The basic test is satisfied where your projected GST turnover for the…  Read more