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Xero vs. MYOB: Which Software is the Best for Your Company?

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...

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Cash or Non-Cash (Accrual): Which Method is the Best for GST?

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...

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How Can a Payroll Management System Help Your Business?

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...

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Importance of Bookkeeping Services in Preparing for an Audit

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...

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The Ultimate Guide to BAS Preparation Checklist for Success

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,...

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A Step-By-Step Guide to Do Payroll for Small Business Owners

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....

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How to Optimise Financial Records for Small Businesses?

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,...

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How to Manage Accounts Payable for Maximum Efficiency?

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...

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What is a BAS? Difference between BAS Agent and Bookkeeper

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...

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10 Best Payroll Software for Australian Businesses in 2023

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...

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Need of a Bookkeeper and How Much Does a Bookkeeper Cost?

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...

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Short-Term vs Long-Term Finance: Which is the Best?

Short-Term vs Long-Term Finance: Which is the Best?

There is a lot that small business owners need to know and do when it comes to running their companies. From expanding the product and service offerings of the company to cultivating and sustaining customer relationships, marketing, expanding the personnel, and...

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Different Types of Account Reconciliation

Different Types of Account Reconciliation

Every company needs to have properly managed business finances to run the business efficiently. Otherwise, business owners won’t be able to know if they are earning a profit or loss. Without account reconciliation, you won’t have accurate records that would only cause...

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How to Prepare a Balance Sheet for Small Businesses?

How to Prepare a Balance Sheet for Small Businesses?

It can be seen that many business owners prefer looking at profit and loss statements to know the financial situation of their company. However, when it comes to balance sheets, they don’t understand its significance. Today’s blog will outline the importance of a...

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