Bookkeeping & Payroll Services for Small Businesses

  For small businesses and start-ups looking to limit their overhead, outsourcing their accounting and bookkeeping tasks makes business sense. They have the option to hire an onsite or virtual bookkeeper to perform these time-consuming yet essential responsibilities. While some SMEs feel more comfortable working with a part-time bookkeeper onsite, more and more businesses are turning to virtual bookkeepers because of the benefits they offer. So, if you’re thinking of outsourcing work to a virtual bookkeeper, you’re on the right track. Functions of a Virtual Bookkeeper Although a virtual bookkeeper is essentially an independent contractor working online or remotely, they can help you stay on top of your accounting and bookkeeping needs just like an onsite employee. They are usually well-versed with QuickBooks, Peachtree, Xero and other accounting software and can perform the following functions: Account servicing Accounts reconciliation Balance sheet management Bank ...

  With a large part of our client base located in NSW and VIC (yes, we are rather envious of those located in QLD), we’ve compiled a list of 8 things you can be doing during while we are all in lockdown to set up the coming year for success. Tip 1: Mindset Accept the situation and get on with it. We are all in this together, facing the same constraints. You don’t have to learn a new language or launch a new website – surviving this time with a positive mindset is more than enough. Tip 2: Finalise 2021 Finalise your figures for 2021, get your tax return completed – maybe you’ve got a refund owing, and even if it does result in a payment, you don’t have to pay it yet anyway. Usually there are a few loose ends that drag out – use the additional time that you may have now to wrap these up early so that it doesn’t take up any of your time when business bounces back to being busy again. Tip 3: Plan Update your plans for life after lockdown because we will come out of this. Ho...

  NSW businesses will now receive up to $10,000 per week under a new support measure modelled off 2020’s cash flow boost payment, Prime Minister Scott Morrison has announced. The new measure will be available from next week- the fourth week of Greater Sydney’s lockdown- and will see eligible businesses receive a minimum of $1,500 and a maximum of $10,000 per week. It will be available to non-employing and employing entities in NSW, including not for profits, with an annual turnover between $75,000 and $50 million. Entities will be eligible if their turnover is 30 per cent lower than an equivalent two-week period in 2019. The payment rate will be based on 40 per cent of their NSW payroll payments. Non-employing businesses, such as sole traders will see the payment capped at $1,000 each week. To receive the payment, entities will be required to maintain their full time, part time and long term casual staffing level as of 13 July. Prime Minister Scott Morrison said the new...

  Over the past 15 years we have worked with businesses from a huge range of industries. The decision makers within these businesses also come from a vast background of financial experience and literacy, but regardless of their background or industry, there are some common factors that appear to be shared by all successful businesses. For the purpose of this article, I am defining a successful business as one where the business owner is not financially stressed, so they can focus all of their attention into building the best possible business. Principle #1: Spend Less Than You Earn Whilst it sounds pretty straight forward, this can become a bit more complicated in reality when payment terms vary between your customers and suppliers. Depending on your industry this varies. In most hospitality, your suppliers require payment up front and you’ll also receive immediate payment from your patrons. In retail, this requires good bookkeeping to track the actual cost of your purchases an...