Record Keeping for Australian Businesses
Record Keeping is an essential part of running a business in Australia. Keeping accurate and complete records will help you manage your business and its cash flow. But did you know you also have a legal obligation to the ATO to keep certain records for a specific amount of time? So, what records? For how […]
Accounting & Bookkeeping – What’s the Difference?
Accounting & Bookkeeping – What’s the Difference? Accounting and Bookkeeping services are both important in managing your business finances, but many business owners don’t know the difference. While Bookkeepers and Accountants share the same goal of supporting your business and helping you to achieve success, they have very different roles. Simply put, Bookkeeping is the recording […]
4 Tips for Choosing the Best Payroll Accounting Services
As business owners, there are important administrative tasks that you need to go over each time. This hinders you to focus on a much more vital process of your business which is attaining customer satisfaction and developing your business core. Such tasks include bookkeeping, payroll management, and others. You can take away the hassles and […]
Benefits of Outsourced Bookkeeping Service
You may think that you can’t afford to hire a bookkeeper from an accounting firm. However, the advantages have significant benefits to your organization, and you will save $$. Focus on the advantages and savings you will receive from an Outsourced Bookkeeping Firm as provided below: Save time with an aid of a qualified and experienced bookkeeper. As a […]
What are the daily tasks of a Bookkeeper/Accountant?
A bookkeeper/accountant is the primary source of everything related to the company’s day to day transactions involving financial matters. Your bookkeeper’s needs strong accounting skills and attention to detail is of utmost importance. The amount of work depends on the structure of the organisation and on how big the company is. Bookkeepers/accountants are required to be well […]
Why organisations need to prepare a budget
4 reasons why an organisation needs to prepare a budget Do you think an organisation can function without a budget? An organisation that does not have a budget is certain to fail. A budget is an essential tool that every organisation needs to have if it is to survive and achieve its objectives. Budgeting forces […]
How Often Do You Need to Update Your Accounting Records
The Australian Taxation Office, requires all business to keep their accounting records for at least five years. All records should be in accordance with Generally Accepted Accounting Principles (GAAP) and Australian Accounting Standards. Records that you should have readily available in either printed or electronic format include but are not limited to: • Governing documents […]
What are Cloud Accounting Systems?
Cloud computing, as a concept, was around as early as the 1950s. It all started when corporations and learning institutes started experimenting on using their large-scale mainframe computers to support access from multiple terminals at the same time. The mainframe computers use their immense processing power to deliver data to the terminals. The technology at […]
