If you are starting a new business, hiring a bookkeeper may not be as appealing as taking care of other aspects of your business. In fact, you may even consider it unnecessary since you are just starting out. However, as your business is taking shape, you will realise that you need to keep accurate and […]
Reading a financial report helps you determine the strength of your business. Are you planning to grow your business? Do you want to get additional investors? Before you can execute your plans, you need to pry into your financial report to find out if you are indeed ready to take the next step. If you […]
Bookkeeping is essential even to small business. If you are used to DIY bookkeeping, you will never know if the details of your report are accurate. In case you are still in doubt whether or not you should consider the idea of hiring a bookkeeper, always keep your cash flow in mind. You cannot grow […]
Many business owners have gotten themselves into serious trouble with the ATO because of committing serious bookkeeping mistakes. This usually happens when essential details are overlooked. Small business owners may choose to handle bookkeeping tasks themselves because of the notion that hiring a bookkeeper is an additional expense. However, there can be numerous problems associated […]
Your income statement helps you assess the financial strength of your business. However, there are instances when this important financial tool is ignored. If you want to keep track of your business, it is important to keep balance sheet and cash flow statement in check. They are the statements that will enable you to get […]
Even when your business is profitable, it does not guarantee a steady cash flow. Seasoned business owners can still run into financial difficulties because of the inability to handle cash flow. Cash flow missteps can affect your company’s reputation. If an important opportunity comes your way, it will be challenging for you to move forward […]
Anyone can be an “accountant.” In simple, day-to-day tasks such as buying the grocery, paying the bills, or going to the bank — each one of us is “accounting.” We record and manage our budget, time, and resources in the manner that we deem most efficient. On the other hand, not everyone can be a […]
One of the challenges of running your business is ensuring that you have a steady cash flow and all of your business endeavors go as planned. However, problems can arise when client payments are left unsettled. This causes your business to hold any business plans as you do not have enough cash for the operation. […]
Paying your tax bill is an obligation you cannot afford to ignore. ATO is particular about businesses who habitually ignore tax payments. One reason you should pay your tax bill in a timely manner is to avoid penalties. It might seem like a complicated subject matter, but it can actually be simpler. Doing a research […]
When it comes to managing the books for your business, the tasks should not be taken lightly because bookkeeping plays a vital role in making major financial decisions. Major oversights should not be taken for granted because they are also important to your business. Mistakes can create a ripple effect on your business and can […]