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
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
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
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
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