Simple mistakes while filing business activity statements can cost money and time. Therefore, you must know what mistakes you should avoid when lodging a business activity statement. If you are not familiar with the preparation and lodgment process of a business...
Are you confused about choosing a method between cash and non-cash accrual for reporting GST? No worries, the blog will help you understand the difference between these two accounting methods for reporting GST. Mostly, large businesses choose the accrual method for...
Basically, bank reconciliation is the process of matching the cash balance that shows in the company’s business books against the actual cash in the bank. With the increasing use of entities to receive and make payments, it is valid to think about bank account...
Running a business successfully requires you to perform various activities. You may have to take care of various tasks, such as marketing, sales, customer service, and product development. With these types of responsibilities, many times, businesses neglect their...
Bookkeeping involves a wide range of tasks from basic record-keeping to managing business finances to keep your business running smoothly. In simple words, bookkeeping for small businesses provides business owners with a framework to make the right financial...
The methods of maintaining business books have changed over the past few years. They are different to the way they were 5 or 10 years ago. Due to this fact, bookkeeping for small businesses needs different KPIs (key performance indicators) today. KPIs for bookkeeping...
Bookkeeping is often considered the primary part of any business, as small business bookkeeping plays a significant role in maintaining a company's financial health and overall success. It includes keeping track of financial transactions and organising financial...
Cash flow is crucial for any business and key to its success. However, managing it in the right way is challenging. This is where small business bookkeepers in Melbourne come to help business owners manage their cash flow of the company. They maintain and update...
Every business owner needs a bookkeeper to manage their financial matters properly. Bookkeepers are crucial parts of the company who engage in the day-to-day execution of financial matters and record-keeping. Among the typical tasks, bookkeepers in Melbourne are...
The Australian Taxation Office (ATO) provides two types of activity statements to help businesses report and pay their tax liabilities. These activities are known as the Instalment Activity Statement (IAS) and the Business Activity Statement (BAS). The IAS is a...