Importance of Bookkeeping to Today’s Businesses

As software and technology continues to improve, so does bookkeeping and accounting solutions for small businesses. Improvements in the last 5 years include a huge push toward Software As A Service, which moves most bookkeeping in the “cloud”. Despite these improvement in technology and processes, bookkeeping can still be both time consuming and stressful, especially when you find yourself more engaged in other important business operations. Continue reading

GST And BAS Lodgement

Knowing when and how to register your business for GST is important as it will determine when you need to start lodging BAS statements, and it will allow you to start claiming back on GST you are paying on your own purchases. In some instances, it may be worth you applying for GST before you reach the minimum requirements. An expert bookkeeper or accountant can help you weigh up this option. Continue reading

What You Need to Know About BAS

Business Activity Statement is a tax reporting requirement issued by the government on either monthly or quarterly basis for businesses. It’s used for pay as you go instalments, paying goods and services tax (GST) as well as reporting among other tax obligations. It aims at allowing a business to report and pay several tax obligations all in one transaction. Continue reading

Vital Bookkeeping Advice for Starting Businesses

Any business whether small or big, requires proper bookkeeping in order to remain competitive and profitable. Improper financial record keeping usually results into massive business inefficiency. This is why every business needs to invest on the best services available. Their focus is to provide significant accounts and profit reports. Business owners are embracing the inevitable services of bookkeepers and making it a priority. Bookkeepers exist to ensure that there is total accounting for every penny spent. Continue reading

The Most Important Business News That Happened in 2014

It was a busy year full of politics, protests, invasions as well as international health scares. Somewhere within all this hype and bellowing, some major business events happened that will shape the business world for a very long time. Can you name a few of them? Are you ready to deal with them? In this article we will look at some of the most important small business news that happened in 2014. Continue reading

Bookkeeping Trends to Watch Out For in 2015

Bookkeeping is the art or process of keeping records of business transactions for a firm or corporation. It is an important aspect of running a company. Usually, bookkeeping involves having records on yearly basis, monthly basis, weekly basis, or on project basis. Small firms tend to have records on project basis due to the intake of more number of projects at a time to be in competition with the big players in the market. Continue reading

BAS, GST, & IAS: What Are Their Roles to Businesses?

In business, there are important aspects that should always be considered at all times to bring about business growth and expansion. Business Activity Statement (BAS) is described as a statement that has tax entitlements and all other obligations that are required from all businesses by Australian Tax Office (ATO). They should be filled monthly if the annual revenues are exceeding $ 20 million and can also be filled quarterly every year. It is now possible for business operators to file their BAS online. BAS is important for business operators since it helps them receive their payments from ATO through an electronically managed process. Continue reading

Bookkeeping Advice from the Government of Australia

The Australian government always ensures that the citizens are in a better place to live a perfect life through offering best services. Through bookkeeping, there are records of financial transactions that the government ensures that they are well documented through entering records in computers or manually into ledgers. The Australian government ensures that the process is well conducted to guarantee that data is well collected and kept and that citizens are able to enjoy their life without any worry. There are well organized steps and methodological approaches that ensure they manage their resources. Continue reading