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Showing posts from August, 2022

How to Make Payslips for Employees: Getting It Right

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  For employees, there is something quite self-satisfying about getting their hands on the payslip at the end of the pay cycle. They see how much they’ve been paid, how much has been deposited into their superfund and they feel happy their hard work is paying off. For an employer, Employee payslips can be an administrative nightmare. If you’re working with the traditional mode of accounting, you are more than likely entering pay information manually, printing payslips out and then physically distributing them to employees. As it’s a legal requirement to provide employees with a payslip, it’s not something employers can sweep under the carpet and ‘get to’ when they can. Or when they have to. So how to make payslips for your employees and what can you do to streamline this part of the pay cycle? How can a business owner save time and money around a necessary administration procedure? When we work with clients on their payroll processing and more specifically the nitty gritty of e
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  In case you hadn’t noticed, 7.6 billion people, and counting are going to need more disruptive businesses and there is no shortage of problems for founders to find, address and produce. What does it take? Imagination, persistence and integrity are vital, but the best founders I know possess a unique DNA. Looking back to my first meeting with each of them, they were clearly different. I’ve tried to unpack the 10 defining elements. The je ne sais quoi of disruptive founders should not stay a mystery. Perhaps this article should serve as a self-awareness checklist for a first-time founder. It may motivate you to get past what is blocking you or encourage you to join a team. If your passion is there and you weren’t born to be a Founder, you may find you can nail it one day. I’m often asked by people, “what do think about this company, should I invest?” Now that’s a sucker bet, as if I’m wrong, and say “go for it” and it crashes I’m bound to be called an idiot. If it dominates an

Automate your Payroll with an online payroll system

  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 a critical part of every business, the quickest way to upset employees is to not pay them properly.   Watch what happens to productivity if

Bookkeeping Services for Small Business

  Often business owners tell us that they wish they had more time in the day. I tell them that you should hire bookkeeping services for your business and spend your valuable time in growing your business. Bookkeeping services are an excellent choice for a small business owner who do not have the patience, expertise, or time to handle the accounting and bookkeeping tasks. By choosing a reliable service provider, you can save make better business decisions backed by financial data and reports. Choosing the right partner for your bookkeeping needs will be the most crucial decision you will make. Here are some of the advantages of hiring a bookkeeping service.   When you hire a bookkeeping service, you can rest assured that your financial records will be accurate, and your lodgements will be on time. They will review and optimize your chart of accounts to make sure everything is in order. They will also create invoices and track accounts receivable for your business. You will get accur

Bookkeeping: Expectations vs. Reality

 The job of a bookkeeper has changed significantly over time. In centuries past, they were responsible for making sure financial transactions went smoothly by recording data entry in journals and accounts books but nowadays this isn't always true! There's more than one type or level at which you may pursue your career as well; some people focus solely on top-level management while others prefer working closely with clients every day - either way there will always be room for change within any given industry if its customer base becomes outdated through innovation so stay up Bookkeepers are responsible for recording and reporting on business transactions, but the role has become more complex in recent years. Modern bookkeeping now involves finding ways to improve their company's systems as well as ensuring compliance with laws like GST; this means that a standard day at work could involve anything from entering data into accounting software programs like Xero (which automa