The beginning of the year is a great time to reflect on the past twelve months and prepare for the next. Here are some useful accounting tips to help you get your business finances up-to-date and ready for the year. Keep your business in shape People often make New Year’s resolutions to live a…
Tip Tuesday | Top 10 questions you need to be asking your accountant
Whether you have an accountant already or you are completely new to the idea, this ones for you… If you rely solely on free or inexpensive accounting tool or advice, instead of a trained professional accountant, it could be a costly mistake for you or your business. Investing in a professional accountant that has the…
Tip Tuesday | Top 10 Tips to Help Rental Property Owners Avoid Common Tax Mistakes
Whether you use a tax agent or choose to lodge your tax return yourself, avoiding these common mistakes will save you time and money. Apportioning expenses and income for co-owned properties If you own a rental property with someone else, you must declare rental income and claim expenses according to your legal ownership of…
Tip Tuesday | Bookkeeping To Grow Your Business!
Accountants help keep your finances in order but bookkeepers play an important role too. So what’s the difference between a bookkeeper and an accountant? And how can a bookkeeper help you run your business? Bookkeepers and accountants are not the same If you’re a small business owner, you’ll be familiar with juggling several…
Tip Tuesday | 10 Step Checklist to Grow Your Business
Your business is up and running and you understand what works and what doesn’t. Now you’re ready to take a step back and be strategic about how – and when – to grow your business. 10 steps for business growth Seeing an opportunity for business growth can be exciting. But turning your big idea…
Tip Tuesday | 9 Steps to an Awesome Invoicing Process
You need billing to be fast and accurate. Because the sooner invoices go out the door, the sooner you get paid. These 9 suggestions could make your billing better. 1. Set a billing schedule It’s tempting to give preference to paid work and put invoicing off. But no work is paid without invoicing, so…
Tip Tuesday | Getting Your Head Around Small Business Payroll
If you’re starting to employ people, congratulations – business is obviously going well. And welcome to payroll. Here’s your introduction to the basics of pay, deductions, and dealing with the tax office. What does payroll mean for small business? At a basic level payroll is giving with one hand and taking with the other. You…
Tip Tuesday | 10 Ways to Stay Out of Debt!
Bad debt and late payment can be problems for almost any business. What’s the best way to handle them? Here we look at ten ways to stay out of debt and reduce the impact of debtors. Stay in control of the money you’re owed Business owners often worry about payment. That’s especially true in the…
Tip Tuesday | What is inventory accounting and why do it?
Inventory is the biggest cost facing many businesses. But what is it, exactly? We look at the many forms inventory takes and explain what inventory accounting is for. What is inventory? Inventory is the items that your business has bought with the intention of reselling to customers. The items may be resold without change, or…
Tip Tuesday: 5 Unusual Tips for Starting a Small Business
Starting, running and growing a small business can be challenging and daunting. Whether you are driven by passion, an extra stream of income, monetising a hobby or simply a more flexible working environment, entrepreneurs must constantly face up to uncertainty. As a result of the competitive nature of small businesses, looking at your company plans…
