For most startups, DIY bookkeeping is often a cheaper and more practical approach to accounting. In most cases, all you need is to set up accounting software or hire a bookkeeper to handle the day-to-day tasks. However, a time comes when your business needs the services of a professional accountant. How do you know it's time to take this step? Below are three instances when your business could benefit from the services of an accountant.
30 December 2020
As a small business owner, you may not like the idea of "fitting in." You want your organisation to stand apart and have a USP so you can attract customers and make as much revenue as possible. Yet sometimes there are good reasons for blending in, and this is especially the case when it comes to tax time. What are the pitfalls of standing out from other companies in your niche?
9 September 2020
Do you think that a bookkeeper is typically somebody who wears horn-rimmed spectacles and pores over a ledger all day? Maybe you think that their primary job is to simply balance debtors and creditors and make sure that everything is in its place from a financial perspective. Yet, this is a very narrow-minded interpretation of the typical, modern day bookkeeper, and you would do well to bring one on board for your business if you haven't already done so.
4 March 2019
As a small business owner, you have a lot of things to think about to make your business successful. Between marketing, filing the right licenses and doing the work your business is supposed to do, it's easy to forget about your finances. If you're new to being a small business owner, it's possible you don't know what to do to handle your finances properly. A solution to this might be to hire an accountant for your business.
24 August 2018
If you have recently started a new business, you may be struggling to juggle the various responsibilities you now have. While you may be focused on providing the best possible service, it is important that you do not let your administration and accounts to fall into disarray. If you do so, you could face a real headache when it comes time to file your tax returns. Below is a handy guide which will help you to get on top of your accounts, so you no longer need to panic when the tax season starts.
28 November 2017
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
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