Small Business Bookkeeping is the process of recording all financial transactions made by a business. Bookkeepers are responsible for recording, classifying, and organizing every financial transaction that is made through the course of business operations. Bookkeeping differs from accounting. The accounting process uses the books kept by the bookkeeper to prepare the end of the year accounting statements and accounts.

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...

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...

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...