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Sole Traders and Superannuation

folder_open Small Business Tips, Superannuation
Sole Traders and Superannuation—Don’t Cheat Yourself Out of Future Security It is easy to get caught up in running your solo operation, trying to be across all areas of the business and looking after your customers, suppliers and workers. While you are running your operations and looking after everyone else, are you also looking after…
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Legal Obligations of a Business Owner

folder_open BAS, Payroll, Small Business Tips
Legal Obligations of a Business Owner—Are you across all of them? Are you considering starting a business? Or perhaps you are already running a small business and you know just how much is involved! Either way, with this article we aim to give potential business owners an understanding of the areas to consider before starting…
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Single Touch Payroll–New Reporting Obligation for Employers

folder_open Employees, Payroll
Single Touch Payroll Single Touch Payroll (STP) is a government-initiated change in reporting obligations for all employers. The Australian Taxation Office has been developing this for some years and testing the system for the last year, and it is now in place and ready to receive employment data. The data to be reported is gross…
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Tips for Getting Invoices Paid on Time

folder_open Accounting, Bookkeeping, Small Business Tips
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Getting invoices paid on time has long been an issue in Australian small business. During 2017 the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) conducted an inquiry into payment times and has produced a report that shows just how badly Australia performs compared to other countries when we look at payment times. In fact,…
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Recent Changes to Employee Entitlements

folder_open Employees, Payroll, Small Business Tips
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Recent Changes to Employee Entitlements Recently the Fair Work Ombudsman announced changes for employee entitlements that affect a number of common awards, such as the Fast Food Award, Hospitality Award, Retail Award and Hair and Beauty Award and particularly affect casual workers. The changes are in force from 1 January 2018. The changes affect overtime…
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Business is a marathon and most of society thinks it’s a sprint

folder_open Small Business Tips
’Business is a marathon and most of society thinks it’s a sprint.’ Gary Vaynerchuck. We live in a world that is advancing and changing faster than at any other time in history. Technology is constantly evolving causing completely different industries to emerge. This is a world where people want everything on demand and expectations continue…
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Do I Need a Bookkeeper?

folder_open Bookkeeping
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Most businesses starting out can’t afford the services of a professional and competent bookkeeper. Maybe you’re in the same boat, muddling through as best as you can. This is understandable because in their infancy most businesses need to be ruthless about minimising expenses to have a better chance of surviving those challenging early days. Bookkeeping…
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Reconciling Deposits

folder_open Bookkeeping
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Customer deposits arrive in company bank accounts via many different payment methods. In this article I will explain different types of deposits, grouped by the recommended approach for processing or reconciling their receipts (or ‘payments’, as you might be used to calling them). Electronic Funds Transfer In Australia, EFT is the most common customer payment…
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