The Dangers of DIY Bookkeeping

Some business owners fall into doing bookkeeping by themselves to save on cost. This may seem like a quick solution, especially for entrepreneurs who find hiring a full time bookkeeper too expensive for their business. They feel like their profits are not on the level where they can afford to hire a full time employee

Tax Guide for Businesses in Australia

Income taxes are one of the most essential payables that you have to pay close attention to in your business. As a business owner, it is imperative that you have the basic knowledge on how you and your business is taxed. By paying the correct amount of taxes on time and by taking advantage of

How to Enter Stock Trade at the End of the Year

Stock investing can be a means to build wealth and financial security. As a stock trader, you need to understand your claim tax benefits and deductions on trading related costs. It is also essential to understand how taxes on stocks could affect your tax bill. Without a clear understanding of these, you may fall short

Tax Obligations of Sole Traders and Companies in Australia

The structure of your business has a crucial impact on your business tax obligations. Whether you registered your business as a sole proprietor, a partnership, a corporation or a limited liability company, you would want to have a good idea about your tax obligations and how you can achieve the best tax outcome. Different business

Important Tax Tips for Every Business

Business owners may feel a little overwhelmed every end of the fiscal year. It is during these times that businesses need to carry out specific procedures to close their books and fulfill obligations to the ATO. For every business, staying on top of company tax obligations and ensuring that all necessary documents are complete in

What’s New with Xero?

Xero is an accounting software fit to use for any kind of business- small or large. It offers lots of help to business owners. It has everything you need for your bookkeeping- invoicing, bank reconciliation, reporting, bills payment and contacts. It automates admin work from anywhere, anytime! With Xero, you can store documents online for

How to Become a Certified Bookkeeper in Australia

Lots of Australians are becoming entrepreneurial, starting small businesses on the side. As these small businesses thrive, job opportunities open up for bookkeepers. Bookkeeping is a great career option. Some bookkeepers work full time, but many work part time remotely. This type of setup offers you flexible hours and location. If you’re considering this as

Cheap Doesn’t Mean Good Value

As a business owner, it is natural for you to want to maximize business profits and have that extra cash on hand after all the bills have been paid. For this to happen, you need to make smart financial decisions on whether to cut costs or increase margins to maximize profits while maintaining quality service