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.
Many small business owners often avoid preparing for tax season. Even the most dedicated business owner feels overwhelmed at the thought of lodging their tax returns. However, what if there were a way to reduce that stress? By following the right way and taking a...
The chance of business failure increases when your business runs out of cash and can’t get new financing. That’s why it’s important to predict cash shortages early and manage your cash flow. Cash flow forecasting is essential to make sure your weekly, monthly, and...
If you run a business in Australia, you might have heard of the Business Activity Statement (BAS). However, for many business owners, the BAS lodgment process have always remained confusing and last-minute scrambling. Professional bookkeepers work with numerous...
No one likes surprises when it comes to tax season. If you are running a startup business, especially with employees depending on you, the thought of an ATO audit can be more stressful. It’s not just about meeting tax obligations. It’s about keeping track of...
For maintaining a healthy cash flow, you need to manage accounts receivable. Every business needs effective strategies to deal with outstanding payments efficiently. Proper accounts receivable management can affect your company’s financial stability. Without effective...
For many business owners, expense tracking can be a time-consuming and tedious process, especially if you are not using any accounting software or without the guidance of a professional. However, tracking business expenses is an essential step if you are looking to...
Effective bookkeeping can impact the profit growth of a business and is essential for all businesses looking for day-to-day clarity and long-term strategy. It allows you to track your business finances, make informed business decisions, and fund procurement...
Financial forecasting plays an important role in helping businesses maintain their financial stability of a company. Financial forecasting depends on past data, economic condition, and market trends, allowing businesses to make strategic decisions and allocate...
Running a successful business comes with mixed feelings. You will have a proud moment when you have successfully built a business that’s clearly working for you. However, when the numbers start getting difficult to keep up with, you may need to opt for advanced...
Understanding financial metrics is crucial for any business looking to grow in today’s competitive environment. Whether you are a startup business owner or running an established business, you may have to depend on key performance indicators to make the right business...