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Rental Income You Must Declare

Rental Income You Must Declare

Rental and other rental-related income refer to the total amount of rent and associated payments that you receive or become entitled to when you rent out your property, regardless of whether it is paid to your agent or you. In your tax return, Bookkeeper in Melbourne...

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8 Tips for Most Effective Bank Reconciliation

8 Tips for Most Effective Bank Reconciliation

Bank reconciliation is a comparison of a company's accounting records for its bank accounts and the bank's updates to those accounts. It is an essential process for businesses to go through, but it can be lengthy and laborious. Here are some ideas and tactics...

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Major Mistakes Businesses Make with Internal KPIs

Major Mistakes Businesses Make with Internal KPIs

What are the Key Performance Indicators (KPIs)? A set of quantifiable statistics used to measure a company's overall long-term performance is referred to as Key Performance Indicators (KPIs). KPIs are used to determine a business's financial, strategic, and...

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Salary Sacrifice Arrangements for Employees

Salary Sacrifice Arrangements for Employees

Salary Sacrifice Arrangements are also known as total remuneration packaging or salary packaging. It is an agreement between an employer and an employee in which the employee agrees to forego a portion of their future pay or wage entitlement to wage or salary. Our...

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Who Has to Pay for Fringe Benefits Tax (FBT)

Who Has to Pay for Fringe Benefits Tax (FBT)

What is a Fringe Benefits Tax (FBT)? A fringe benefit is a payment to an employee that is not paid in the same way as a salary or wages. A fringe benefit is a benefit granted in connection with work, as defined by the Fringe Benefits Tax (FBT) legislation. This...

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Check Out Small Business Bookkeeping Tips for Business Owners

Check Out Small Business Bookkeeping Tips for Business Owners

As a business owner, you have to wear various hats, from managing day-to-day operations, making business strategies to keep everything running smoothly. It is difficult to find time to organise your business books, manage cash flow, and analyse numbers. Moreover, it...

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What Should You Need to Know About Bank Reconciliation?

What Should You Need to Know About Bank Reconciliation?

No matter whether you have a small business or a large business, you need to have control over expenses, net profit, and income received. There is a process called the bank reconciliation process that can help you know whether transactions or statements in business...

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How Can Small Business Bookkeeping Benefit Business Owners?

How Can Small Business Bookkeeping Benefit Business Owners?

Many business owners don’t know the basics of bookkeeping, and they end up creating a mess in business books. This is the time when they need to understand the basics of bookkeeping for small businesses. Bookkeeping is not only about data entry, it consists of various...

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8 Reasons to Choose Bookkeeping for Small Businesses

8 Reasons to Choose Bookkeeping for Small Businesses

Business owners can grow their businesses by taking care of various aspects that are important for their business. However, keeping track of every aspect is time-consuming and difficult for one person that’s why business owners have to hire employees to perform...

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Basics of Small Business Bookkeeping for Business Owners

Basics of Small Business Bookkeeping for Business Owners

Accurate bookkeeping plays an important role in business success. Regardless of the type of your business, you need to have updated and accurate business books. You must have an understanding of bookkeeping for small businesses. As a business owner, you might not have...

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Can Small Business Bookkeeping Services Help You Grow?

Can Small Business Bookkeeping Services Help You Grow?

Every business owner wants growth in their businesses. However, if you want to grow your business and reach business goals, then you must have tools that can help you grow your business. Small business bookkeeping is one of these tools. As a business owner, you have...

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How can Small Business Bookkeeping Services Grow Your Business?

How can Small Business Bookkeeping Services Grow Your Business?

Every business owner needs to take help from bookkeeping for small businesses to maintain their finances, prepare tax documents, and monitor budgets. A professional bookkeeper will help you grow your business. They can increase your business’s income and suggest where...

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Bank Reconciliation: What is It and Why is It Important?

Bank Reconciliation: What is It and Why is It Important?

For those who don’t know much about bank reconciliation statements, we are here to highlight the important points that will help you understand what does a reconcile bank account mean and why is it important. Reconciling bank statements is a part of the bookkeeping...

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How DIY Small Business Bookkeeping is Bad for Your Business?

How DIY Small Business Bookkeeping is Bad for Your Business?

Businesses with tight budgets often follow the DIY small business bookkeeping approach, which is right at a specific point, but when business starts growing, then they have to focus on implementing the right strategy for business growth. At this point, hiring a...

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What are Common Small Business Bookkeeping Challenges?

What are Common Small Business Bookkeeping Challenges?

Accounting and small business bookkeeping services are primary functions in any business. Small businesses face many challenges in bookkeeping and accounting procedures. Business bookkeeping includes recording the financial transactions of a business. Business owners...

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Why Should I Need Small Business Bookkeeping Services?

Why Should I Need Small Business Bookkeeping Services?

Think about a scenario when you decided to start a business, and there are many things to think about, and one of the important decisions that should be made is to bring experts to help you with some operational functions that help your business. Those functions...

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