Bookkeeping & Payroll Services for Small Businesses

Over the last 18 months, you may have heard the word ‘cloud accounting’. So why is there such a buzz right now. Well, clouding accounting offers so many great tools and reports that it is helping make running a business that little bit easier and less stressful. Currently, most lots of business owners would use either an Excel spread sheet or an accounting systems set up on their computers such as MYOB to help track the financial performance of their business. If it is MYOB, there is generally a file that must be transferred to the accountant on a regular basis. Clouding Accounting offers many advantages: •                  Makes it easier to manage cash flow as you can access reports and information at your finger tips •                  Save time on invoicing clients •         ...

How to Conduct an Internal Bookkeeping Review There is a very famous saying “if it ain’t broke, don’t fix it”. True in some cases but absolutely not true when it comes to bookkeeping and the way you run your business. Sometimes we get so caught up in our business we never get a chance to float above it (metaphorically speaking!) and look at the cogs of the process engine to identify things slowing it down. Sure, something might not be broken but there may be a few cogs or processes that are cumbersome and groaning under the weight of the growth of your business, any strategy changes you are making or changes in customer expectations and behaviour. It’s always good to have regular reviews of the different components of the business – online marketing, logistics, business development, sales approaches, safety, repair and maintenance and of course, bookkeeping. We find with the clients that come to us after they’ve done a review they’ve realised that their traditional desktop ap...

The new financial year is here. Accountants, bookkeepers and business owners are in the middle of finalising financial year documents for the taxman, creating PAYG statements and not only doing month end, but year-end. It’s a traditionally busy time for the financial and accounting part of the world. I saw a status update on Facebook the other day which made me smile. “Don’t see my husband for 30 days at this time of the year #marriedanaccountant “ I am going to make the assumption that perhaps her husband is still following the traditional method of desktop accounting because if he was using cloud-based accounting programs and practices, there would be less hard graft and more automation. Less of the long work days and more of the getting home to see his family. The new financial year is a great time to regroup and look at where there are opportunities to improve in all areas of business. And it is the perfect time to make any significant changes to bookkeeping and payroll pro...

Are you still managing your payroll manually? Think that because you are a small business you can’t really justify setting up a payroll system? It doesn’t take that long anyway? Really? What if you could have those hours back to focus on things that really matter? Like getting more clients, servicing the existing ones and building your business. The next question is how do you manage all of this when you are not there? This is where Payroll automation really benefits an organisation. Some of the biggest concerns we hear from business owners are: ·         What if other employees see confidential information about other employees? ·         Who can do the payroll for me when I go away? ·         What if they make a mistake? ·         Who can I trust with my financial information? These are all very valid areas of concern. Payroll is...

Cash flow management is crucial to any business. Poor cash flow management impacts a company’s ability to grow or even just stay afloat, and is one of the main reasons so many businesses eventually close their doors. Compliance requirements with the Australian Tax Office such as Business Activity Statement (BAS), PAYG tax, and employee’s superannuation necessitate having the right accounting systems and a bookkeeper in place. Both will reduce stress over compliance and keep cash flow on track. Yet so many business owners continue using out-dated systems such as Excel spreadsheets to manage their cash flow when there are a variety of tools that make these tasks less stressful. Tracking invoices, expenditure and a business’ financial position using a simple spreadsheet is time consuming and costs your business. Cloud Accounting Solutions New cloud accounting software options such as Xero and QuickBooks Online are powerful applications that automate many business tasks and generate ...