The Questions You Need Answered About Managing BAS and GST

This article first appeared on the MYOB Blog titled ‘Managing BAS and GST‘. BAS stands for Business Activity statement. All Australian businesses that have revenue of over $75,000 (except for not-for-profit organisations which can be over $150,000) are legally required to fill in a Business Activity Statement and report to the Australian Taxation Office. How often do I need to do a BAS? Usually businesses just starting up would report…  Read more

12 Factors You Should Consider When Choosing Add Ons For MYOB And Xero

The world of Accounting software and Add Ons is growing and developing rapidly. And businesses are enthusiastically entering this world. Add Ons are allowing businesses to automate and streamline their processes, as the add-ons provide the specialisations that accounting software don’t. There is a huge range of Add Ons that provide for many different business specialisations – such as webstores, staff rostering, staff time capture, complex inventory management, Point of…  Read more

Why You May Need An Inventory Management System

When a business first starts, it may use a spreadsheet to track its purchases and sales of stock. But it doesn’t take long for a successful business to outgrow spreadsheets, as this is a labour intensive method of dealing with stock that is rarely “real time”. Most businesses will start with an accounting software that has an inventory management system included – such as MYOB AccountRight and recently Xero. As…  Read more

Tips To Save Time and Money When Paying Employees

Do you want to reduce your costs? Are you finding you are doing things the long way and not too sure how to create better efficiencies with the administration part of your business? Here are a few tips to help you with these goals, when using AccountRight Live or Premier for payroll. Ensure that you setup all your payroll categories correctly. If you follow a specific award structure you will…  Read more

Tax Return Tip: Review your accounts before EOFY

It’s that time of year again. Have you had a chance to review your business to see how you are performing? Are you simply just too busy? Being busy doesn’t always mean you are profitable. In order for your business to grow it is imperative to analyse performance as you go. And reviewing the accounts before the end of the year is a wise move. It is easy now for…  Read more

Scheduling Your Staff Made Easy With Ostendo

Ostendo has just released new features to its jobs and manufacturing work flow. In particular, the new assignment board is going to be a boon to business. What does an assignment board do? It enables a supervisor to easily and quickly see all work that is required and to work out what should be done when and by whom. The assignment board lists all the manufacturing orders due in the…  Read more

What You Should Know About Invoicing

This post by Pam has also been published as ‘6 things you need to know about invoicing‘ on the MYOB Blog. Since the introduction of GST 15 years ago, businesses across Australia have been issuing and receiving tax invoices. Are your tax invoices compliant? Are you aware what the Australian Tax Office requirements are for invoicing? There are still many business sending and receiving invoices that are not compliant. If…  Read more

Making Your Tax Easier by Preparing in Advance

We are fast approaching the end of the financial year, so it is time to start preparing. Here are my 14 top tips for making your end of financial year easier for you and your accountant. 1. Call Your Accountant The most important thing, at this time of year, is to call your accountant and make a booking to review your year to date financial position. There is still time…  Read more

5 Accounting Add-Ons Retailers Ought to Know About

By now, it has become clear to businesses, including retailers, that the cloud is not simply a fad, it is a business computing model that is here to stay. According to a survey conducted by KPMG International, 70 percent of the respondents are confident that the cloud effectively delivers multitudinous efficiencies that ensure cost savings. There is a great deal to gain for retailers who move their POS and accounting…  Read more

What you ought to know about MYOB’s new updates

We return from the recent MYOB Roadshow with good news. MYOB has released some exciting new features that will streamline the bookkeeping process further and drive more business efficiency. In particular, the Smart Bills feature is a huge innovation…enabling businesses to automatically receive, store and link electronic formats of bills into their MYOB Essentials and MYOB AccountRight Live software, and have the program record the details of the bill. This…  Read more

Looking for More Payroll Work? Here’s what you need to know

Experience outweighs Education in Australia! A recent study of Australian businesses recruiting for payroll specialists has shown the experience in using payroll software is an extremely important criteria for businesses looking for payroll staff. In fact, in the study 87% of businesses advertising for payroll staff had a criteria of past payroll software experience while only 3% required any form of certification in payroll. So while we (as bookkeepers and…  Read more

Breakeven Analysis : Profit Planning

In the excitement of setting up a new business, one of the key forecasts of profitability in the planning process is often overlooked. Breakeven analysis is a really interesting tool in planning for profit, because it allows business owners to calculate how many sales they need to achieve in order to cover all their costs. It is the point at which the revenue of the business equals the costs of…  Read more

Add-On Review: Kounta Point of Sale

Are you battling with that old cash register or with clunky old POS system? Are you ready to lift your game and get with the times? Kounta is a Cloud based system that is easy to setup and get start trading almost immediately. The best part is that it allows you to use it on iPad, Android Macs or even your existing computer. It links seamlessly with hardware and provides…  Read more

What I learnt at MYOB PartnerConnect and Xerocon

[Image: MYOB]It’s been a whirlwind couple of weeks attending two of Australia’s national conferences MYOB PartnerConnect and Xerocon. At MYOB PartnerConnect our business 2 Peas Pty Ltd was once again awarded the Victorian Top Sales Partner and National Top Sales Partner for 2014. This is now 6 consecutive years in a row. Woo Hoo!! Both events were presented to bookkeepers, accountants and certified consultants Australia wide. The event hosted an…  Read more

Third Party Accounting Add-Ons May Just Save Your Business

In the past, businesses used server-based systems for their accounting and operations. The systems were either huge packages that cost the same as our national debt or were standalone systems that didn’t integrate with any other system, required duplication of entry and were prone to human error. These systems were propped up by a multitude of spreadsheets, to compensate for the shortfall in functionality provided. With the advent of cloud-based…  Read more

Using the Operations Centre in Ostendo

The Operations Centre enables the users to see the entire history of interactions and interrelationships with: Customers Suppliers Specific customer assets – for example, serial number tracked assets that may be serviced by the business Sales Manufacturing Jobs Purchasing In the screen below, the user has selected a specific customer and time frame. On the left hand side of the screen appears a list of every interaction with the client…  Read more

An Ostendo Guide : 6 Core Features to Complement the Growth of Your Business

Many businesses start out by buying accounting software, and then use it to run their operations…keeping inventory control, managing the sales and purchasing orders, billing their customers, collecting payments etc. However, as businesses grow, the complexity of their operations also grows and there is a need for software that will manage these processes. Ostendo is one such type of software, integrating with accounting software such as MYOB, Quickbooks, Xero and…  Read more

Finding Your Transaction in MYOB : Confessions of a MYOB tragic

Yes, it’s true. We ARE MYOB tragics…we have been working with the software for over a dozen years, and have helped thousands of clients to use the software in the best way to suit their business. We think we know just about everything there is to know about MYOB. One of our favourite tips in MYOB is how to find particular transactions. How often would we get a call from…  Read more

How The Cloud Can Revolutionise Your Business

The revolution of CLOUD accounting has brought so much value to the world of business. The market offerings are getting better by the day. Cloud brings enormous flexibility for business as well as collaboration between business owners, bookkeepers and the accountants. The introduction of live bank feeds by software providers also improves accuracy of data which bring further efficiencies. Flexibility You now have the flexibility to work anywhere anytime from…  Read more

Talking Business Partnerships with Eagle Waves Radio : PODCAST

We are almost at the end of another fabulous month and once again 2 Peas were invited to take part on a popular Sydney radio station called Eagle Waves Radio in the heart of Sydney. The studio was located on busy George Street Sydney inside a popular café called Vivo. It is the creation of passionate small business advocate and multi award-winning business owner Angela Vithoulkas. Angela’s passion is to…  Read more