Latest Blogs
What can Slow Down Good Cash Flow and How to Deal with It?
For business growth, profits and revenue are vital, while cash flow is king. If you don’t deal with cash flow problems early, you may have to face numerous financial issues. If you have bookkeepers of Melbourne, they can identify possible issues ahead of time, and...
Results of Not Getting Bookkeeping Services for Your Company
If you don’t manage your business books in the right way or even if you don’t do bookkeeping for your company, there are numerous disadvantages associated with it. Unorganised business books could lead you to pay a hefty amount for not paying attention to bookkeeping....
Business Finance Guide: Short and Long Term Financing
Your business may be ready to launch or you may want to expand your existing business. For this, you will need to choose the right small business funding if you don’t have sufficient cash to fund it yourself. Mainly, small businesses have two categories to get funds....
Xero vs. MYOB: Which Software is the Best for Your Company?
As a business owner, you may think of tools that can keep your business books organised and easy to access. When it comes to tools or software for bookkeeping, you may consider using Xero or MYOB software. Both are used by well-reputed companies and these software...
Cash or Non-Cash (Accrual): Which Method is the Best for GST?
Most of the time, many business owners get confused when they have to choose between cash and non-cash (accrual) accounting methods for their transactions. Most commonly, large businesses like to use accrual accounting for GST, on the other hand, small businesses have...
Bank Reconciliation: A Guide for Startup Business Owners
The Bank account reconciliation process is used to ensure that the cash balances the company shows on its book match the actual cash they have in its bank account. When you have to deal with several financial transactions, it is important to think of bank...
How Can a Payroll Management System Help Your Business?
Running a business is not an easy task because a business owner is usually responsible for everything, be it managing back-office operations or making a business strategy to gain success. However, it doesn’t mean that the business owner has to do everything. Payroll...
Importance of Bookkeeping Services in Preparing for an Audit
Just thinking of an audit can cause tension and anxiety for many business owners. The notification of an actual audit can be stressful, causing a rush to find crucial papers, perform bank reconciliation, and otherwise "get things together." However, the reality is...
The Ultimate Guide to BAS Preparation Checklist for Success
Understanding the Australian tax code can be difficult for those who are not familiar with common tax-related tasks. However, every business owner needs to have basic knowledge about the basics of accounting and taxation systems. If you are unsure of where to start,...
A Step-By-Step Guide to Do Payroll for Small Business Owners
Are you confused about where to start when it is a matter of payroll? The blog will share what you need to do payroll. Setting up payroll correctly is absolutely vital for making sure of accurate payroll calculations and compliance with state, federal, and local laws....
Benefits of Preparing Profit and Loss Statements for a Business
To check the financial status of the company, the three most crucial financial statements are prepared, i.e. P&L statement, cash flow statement, and balance sheet. To know everything about profit and loss statements and how they can help you know the financial...
How to Optimise Financial Records for Small Businesses?
There are various record-keeping needs for businesses and there may be some laws and requirements related to your business. You can use either a manual system or an electronic system to keep records. Additionally, you need to make sure that your documents are safe,...
How to Manage Accounts Payable for Maximum Efficiency?
Like other duties, managing payables and paying debts is also important to maintaining the healthy financial status of the company. From small businesses to large ones, accounts payable is an indispensable task that must be done accurately and needs strategic...
Ask a Bookkeeper for Bank Reconciliation and Invoicing Services
Regardless of the size of your company, most probably you have to generate and receive invoices and reconcile bank accounts weekly, fortnightly or monthly. Being a business owner, you have to look after numerous things and bank reconciliation and invoicing can add...
What is a BAS? Difference between BAS Agent and Bookkeeper
When you ask a business owner what is the most annoying part of running a business, then most probably, they will say preparing for tax season and preparing a business activity statement (BAS). It is a legal requirement to stay on top of BAS, but for many business...
10 Best Payroll Software for Australian Businesses in 2023
For any business, payroll is an essential process as paying your staff on time and following employment laws is important. You can automate some processes using payroll software. The best payroll software will save you valuable time and money. However, with so many...
Need of a Bookkeeper and How Much Does a Bookkeeper Cost?
Running a business is not an easy task and you may not have the time to manage your own business books. If you are considering hiring a bookkeeper, one of the first things you will consider is how much does a bookkeeper cost? Below is an overview of the need for a...
Bookkeeper’s Role in Financial Analysis and Cash Flow Management
Financial analysis and management of cash flow statements both are indispensable parts of running a business successfully. It helps you understand where you are financially, track business progress, and set goals. However, it can take time and effort to handle your...