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Setting Up in Business? What You Need to Know about Those Taxes

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They say that there are only two things that are certain in life — death and taxes. If you are in the process of starting up a new business, you should know that the latter is definitely something you need to pay attention to. Especially if you don't want to garner the attention of the ATO! What taxation do you need to be aware of as you plan for the weeks and months ahead?

8 November 2016

When Does a Small Business Need Professional Accounting Services?

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If you run a small business, you may not need an accountant to handle your taxes for you. In many cases you can simply fill out taxes and go through your small list of profits and costs, and may not need much more work than that. However, not all small businesses and their taxes are that simple and there are times when it's good to leave this task to professional accounting services.

6 September 2016

3 Ways to Vet Qualified Accountants for Your Virtual Business

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Owning a virtual business means it is up to you to vet your potential freelancers. The vetting process involves confirming the potential freelancer's background, qualifications, and education. This can be a daunting task, not to mention the amount of time it can take away from other business you need to handle. Instead of using up large chunks of time on vetting qualified accountants, consider using some alternative options. Here are three ways to consider that will, at the very least, save you time.

23 February 2016

Cash Account Vs. Accrual Account: Which Is The Best When You Are Starting A Business?

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When starting a business, one department that you can't afford to ignore is accounting. This is because sooner or later, your business will start to make profits, and you will need to keep a record of your transactions. But that may not be much of a problem like choosing which type of account to go with. In accounting, the two common types of accounts you can choose from when starting a business are cash and accrual types of accounts.

10 February 2016

Why Your Business Requires a Financial Plan

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Every business, be it small or large, can and should have a good plan to help realize its financial goals and objectives. Financial planning ensures that business managers utilize financial resources in the best way possible. It involves detailing how much there is to spend as well as deciding what to spend on. Here are a few critical reasons to explain why your business needs a financial plan: Asset Management

25 January 2016

4 Reasons You Should Hire an Accountant

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It's not without reason that accounting has been a profession for many centuries. With laws, opportunities, and civilization as a whole constantly changing, there needs to be some group of people being paid to consistently keep both up to date and ahead of the crowd with all things monetary. Whether you're a small business owner, or just want to save some time, there are many reasons you should consider hiring an accountant, even if only for a single consultation.

25 January 2016

What Are The Available Types Of Accounting Software Applications?

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The use of software applications for the provision of accounting-related services has become common practice in the modern commercial world. The use of these software applications enhances the productivity of accounting professionals, leading to increased rates of client satisfaction. There are various factors that an accountant needs to consider when looking to invest in work-related software programs. Because accountants are seldom IT experts, here is a discussion on the three types of commercial accounting software applications for the benefit of interested accounting professionals.

7 January 2016

Various Consulting Services You Can Enlist From an Auditor

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When most business owners hear the term audit, then tend to think it means gloom and doom for their business. This, however, could not be further from the truth. Auditors can provide an array of useful services to your business that would facilitate both its growth and the increase of your bottom line. Here are some of the various consulting services that you can enlist from an auditor. Financial consulting

4 January 2016