Use a BAS Agent and Stress Less

“Doing the BAS” is one of the real low points of business ownership for many people. Business Activity Statements are complicated and time consuming to prepare, taking you away from more important business tasks – or eating into your personal time! Unless you’re an expert, you’re probably going to pay more than you really need to. Worse, you could mess it up and underpay your taxes. The Australian Tax Office…  Read more

‘Cashing in on the Cloud’ MYOB Webcast Recording

I was excited to be invited to take part in a MYOB live webcast presented by David Koch of Sunrise and Business Builders on Tuesday in sunny Sydney. Joining me on the expert panel to discuss ‘Cashing in on the Cloud’ was MYOB CEO Tim Reed and Smithink 2020 director David Smith. What a fabulous experience it was to meet one of my favourite celebrities in David Koch. A true…  Read more

Launching Cloud Bookkeeping Email Newsletter

Cloud accounting technology is revolutionising how business operates and as MYOB consultants and bookkeepers we’re at the forefront. So we’ve decided to launch a monthly email newsletter tailored to help you understand the latest and greatest in cloud accounting and bookkeeping. The newsletter will feature a handful of the best articles on the topic that we’ve come across during the month as well as a monthly cloud accounting tip and…  Read more

MYOB Essentials – Are you in the CLOUD yet?

Cloud accounting is no longer the future – cloud accounting is here and the market offerings are getting better and better each month. The most popular cloud accounting players in the Australian and New Zealand markets is MYOB, who have several cloud products. MYOB Essentials is geared mostly for businesses without complex operational needs. Because Essentials is totally online, it suits businesses that don’t want the expense of buying and…  Read more

Small business tax tools

“Hey, boss, the ATO is on the line for you…they want to come out and do a TAX AUDIT!!!” Do you have nightmares about a phone call like this? Even if you are the most honest finance manager, you may still dread a tax audit due to the amount of time and cost that it can take. Do you want to reduce your anxiety about whether you might inadvertently trigger…  Read more

Is my bookkeeper taking me for a ride?

I’ve come across many clients asking the same question: “Is my bookkeeper taking me for a ride?” As accounting software experts, there is not much we haven’t seen at our firm. The most important thing in any business is to ensure you hire a professional and experienced bookkeeper that you can trust. It surprises us how many business owners opt for price over quality when engaging people to look after…  Read more

Avoid a GST audit with these simple principles

The thought of a GST audit would frazzle most people. Unfortunately, it does happen and could happen to you. The Australian Tax Office (ATO) conducts GST audits to ensure businesses fulfil their legal obligations and operate appropriately within the system. These audits may be conducted by phone and/ or visit from the ATO to check the integrity of information lodged. Some of the key factors that may raise concerns are:…  Read more

Tax Deadlines for your Business

Here we go again… another financial year coming to a close soon. As you prepare to trudge through the minefield of payroll and financial year end obligations, here’s a list of the important end of financial year (EOFY) deadlines for your business. During May Your accountant should have a look at your financial data to help with any tax planning strategies for year end.  If you are using MYOB AccountRight Live or Essentials,…  Read more

5 Tips to Help Small Business Growth

1. Implement the right business systems and staff The right business systems and staff are paramount to your success.  If you are looking to drive small business growth, then you are going to need more staff. Attract and keep the best people, set measurable standards for their performance and then regularly review their work to ensure they are achieving their goals.  Take a realistic look at your financial reports to determine what…  Read more

MYOB Cloud Accounting

Imagine this scenario – you are sitting in your office working on your MYOB accounts.  You have a live feed set up with your banks, so that the transactions are available within your MYOB file without you having to enter them or import them.  No need to wait for bank and credit card statements to turn up in the mail or your boss to find where they have vanished to.…  Read more

Tips for Better Inventory Management

Inventory is often the biggest asset that a business has, and the profit of inventory based businesses is dependent on the best management of the stock. So what are tips to make sure that the stock is correctly managed, for the best profitability of the business. Use analysis to track the performance of the stock. Stock turnover is a measure of how quickly stock is being converted into revenue/how many times…  Read more