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Cloud technology seems to be promising for businesses that are still embracing manual processes. For one, it is capable of reducing manual work without compromising quality. With its laser-focused features, every business can be sure that nothing is missed out especially when it comes to providing one of a kind solution to every bookkeeping woes. […]

Even if a fledgling company has not spread its wings, setting aside a budget for bookkeeping services is important because it helps you keep track of your expenses and gives you access to financial reports. You cannot afford to ignore the services of your bookkeeper because aside from missing payments, you may also incur penalties, […]

Bookkeeping is important in every business, but business owners often lose interest in keeping the books. This task involves paperwork, which can be an additional burden to business owners who are already juggling multiple tasks. However, inspite of the difficult tasks involved in bookkeeping, it should not be ignored if you want to remain in […]

The major transformation taking place in the accounting and bookkeeping industry has made it easy for business owners be it small, medium or enterprise to collaborate and streamline processes. Paperwork becomes less burdensome as everyone can gain access to information without worrying about location. It is, without a doubt, an era where workers are no […]

It is always a challenge for small businesses to keep up with the changes because they need to maintain a high level of productivity and efficiency. The race is going to be long and one of the roadblocks to maintaining efficiency is the delay in the bookkeeping process due to circumstances beyond an employer’s control. […]

It is such a whiff of fresh air if a business owner sees a Profit & Loss Report that demonstrates positive figures because it only indicates that the business is heading in a favourable direction. However, little do business owners know that it takes more than just going over the reports to thoroughly understand its […]

Bookkeeping is probably one of the most dreaded tasks for small business owners. Aside from entering data and keeping accurate records, the process of recording all financial activities requires a great deal of work. Small business owners who have not anticipated the negative effects of ignoring bookkeeping will sure consider this task unnecessary so long […]

Every action that a small business owner takes can have a negative or positive impact on the business. While the financial health of your business may not be the only aspect you need to keep a watchful eye on, most business owners owe their success to proper management of cash. Without a doubt, many small […]

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 […]

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 […]

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 […]

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. […]

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 […]

When you start a new business, one of the responsibilities you need to fulfil is registering for GST. Although GST registration is optional, there some businesses that automatically register for GST. If you have a turnover of $75,000 or more, you need to keep in mind that GST registration will be mandatory. However, if your […]

As a business owner, you want to make sure that your business is on the right direction. One of the things to help your organisation prosper is by finding and using the best bookkeeping software. Business owners who invest in bookkeeping software understand its importance in managing business finances. The way you manage your finances […]

As a business owner, you are required to pay taxes and other obligations in a timely manner. However, there are other areas of your business that you need to focus on and these deters you from keeping track of these important dates. This is where your bookkeeper will come into play. Your bookkeeper should take […]

Have you ever asked your bookkeeper for a specific report only to receive a different document? Does miscommunication happen frequently? While it is easy to assume that it is distraction or laziness on the bookkeeper’s part, there can be a more serious reason such as the communication barriers. You and your bookkeeper may only meet […]

If you are asked to substantiate your claims, you will need to secure some essential documents such as contracts, invoices and receipts. This is why if you have already developed a habit of stashing receipts away in a shoebox, it is about time you give importance to this piece of paper because they play a […]

Start-up businesses fail because of placing other business goals ahead of cash flow. Although it is necessary to generate sales leads and build your brand, cash flow is still an important aspect of your business. Your company needs cash in purchasing additional products, building up your team and even growing your business. Cash flow shortage […]

Is there a technique that business owners and bookkeepers should employ when it comes to maintaining clean and error-free records? Good record-keeping practices must be observed so taxes and other important bills are paid on time and the business’ financial standing is properly identified. There is no need to consider complex techniques because all it […]

Your business can head straight towards the pit of disaster if you do not pay heed to one of the most important aspects of bookkeeping: cashflow. From using your business accounts for personal expenses to failing to keep important receipts, all of these can wreak havoc on your business. When a business is faced with […]

When you are dealing with large amounts of money on a regular basis, people who are appointed to accurately monitor expenses can be easily tempted. When these anomalous transactions are discovered, business owners are already clueless about the unexplained financial activity. As a business owner, ensuring fraud risk is minimised is in your hands. The […]