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Reconciling Deposits

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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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How to Improve Profits & Grow Your Business Bank Account Balance

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Do you look at your financial statements and bank account at the end of the month and wonder how you could do better? Maybe you’re thinking that you actually have a really good business. It has a reasonably high volume of sales and good staff, but the business bank account just doesn’t seem to be…
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What is SuperStream and Why Do I Need to Use It?

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You may have heard of SuperStream, but do you really know what it is or how it works? You may not realise that it will actually benefit your business. Complying with SuperStream regulations is now mandatory for all Australian businesses, irrespective of size. The only exception applies to Directors of companies who pay their superannuation…
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An Employer’s Guide to Reading Modern Awards

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Are you a business owner that knows what Modern Awards apply to your staff, but don’t really know what to look for or what it all means? Many employers just skip to the pay guide, which is often found as a separate document when Googling the Modern Award. They tend to ignore the rest of…
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Entering Purchases in Xero Using Bills Instead of Spend Money

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The benefits of entering expenses as Bills instead of Spend Money transactions. Ever wondered if there’s a better way to manage staying on top of supplier bills? Carmen Morris discusses entering expenses as Bills in Xero and the benefits this offers. Most people are very familiar with entering income as Invoices. This is the go-to…
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Managing Employee Scheduling, Timesheets & Payroll using Deputy & Xero

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Are you struggling to schedule your employees’ rosters, manage changing shifts and staff unavailability? Do you find it difficult to keep complete and accurate timesheets? Do you need to regularly communicate important information to your staff, potentially across multiple locations and areas? Is finding a replacement staff member for a shift a time consuming and…
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Terminations of Employees

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Employee terminations are a fact of life when you’re in business. No employee will stay forever. Sometimes they’ll leave when you want them to stay and other times they’ll stay when you want them to leave. In most cases, the employee’s termination will need to be communicated to your payroll administrator before it occurs. In…
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Managing Employees – Misconduct, Investigations & Counselling

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So if you’re a business owner with several employees and you’ve been in business long enough, there will come a time when something will unravel. Employee misconduct, in some form, will inevitably occur. You might see it coming, or it could come completely out of left field. Despite treating your employees well, something can still…
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Managing Employees – Induction & Performance

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Many businesses that have reached a decent and stable size have managed to get the recruitment process well organised. But they’re often surprisingly stuck on what happens next. Things don’t always continue as well as they’ve started. It could be a case of ‘Phew, I’m so thrilled that I finally have someone that I can…
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Hiring Employees

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This article is the first of a four-part series on hiring, managing and terminating employees. There is a lot to know about hiring employees, which includes areas such as human resources, industrial relations law and payroll. All of these areas are interconnected. Before you start hiring employees Before you even begin hiring employees, you’re going…
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