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Attention Small Business Owners in Cleaning and Courier Industries

  Attention Small Businesses operating in the Cleaning and Courier Industries The taxable payments reporting system is applicable to you as from 1 July 2018. Previously only businesses operating in the construction industries were affected. What does this mean? You need to keep a record of the subcontractors you pay during the year and submit their details to the ATO by August 2019 for the 2018 year. Your accounting software…

Reduce your Cash Flow pain by getting Invoices paid quickly

Think of the amount of time you spend on collecting your invoices. What a waste of productive time! You have provided your client with work  timeously  so why should you wait for payment beyond your agreed terms? Below are some tips that will help you collect your invoices quickly. Agree on the value of the invoice and the payment terms with your customer before you commence the work. This will…

Which way does your Cash Flow?

  Cash flow is the movement of money IN and OUT of your business just like the oxygen you breath. It is critical to the health and survival of your business that your Cash  IN exceeds your Cash OUT. Unfortunately for most businesses this is not the case as evidenced by the report issued by the Australian Securities Commission in 2015. It reported that the most common cause of business…

Why do You need a Business Accountant

Accountants are useful for different things at different levels of business growth. They are capable of handling a lot more than critical tax returns and payroll computation. If you want to build a perfect business, you will require the assistance of a skilled accountant. It is quite interesting to note that finances can become complicated in no time. As your business grows from a few clients to hundreds of clients,…