Bookkeeping & Payroll Services for Small Businesses

  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 dominate...

  I am getting asked this question for the past 2 months so I decided to write a blog post about it. Christmas parties (or other festivities) and presents to staff might raise questions in your mind about how it will affect the tax liabilities of your business. If you would like to avoid any nasty surprises, read on. Here are some general comments about these issues: An assumption is that the business has not elected to use either the ‘50-50 split’ or ‘12 week register’ methods for FBT purposes. CHRISTMAS PARTIES Christmas parties constitute "entertainment benefits" and to the extent that the expenditure relates to employees or their associates attending the function, the expenses may be subject to fringe benefits tax (FBT) unless an exemption (e.g. the "minor benefits" exemption) applies. A minor benefit is provided to an employee or their associate (e.g. spouse) on an “infrequent” or “irregular” basis, which is not a reward for services, and at a cost less...

  What is Bank Reconciliation The idea behind a bank reconciliation is to make sure that data from both your company's records and those maintained by banks match up. This control can help catch any missing or inaccurate information before it gets reported as an error, but what if there was some way for you to do this while still maintaining internal controls? Whatever type of business operation has financials impacted by these factors will benefit significantly from implementing technology designed specifically for managing cocoa farming and coffee production. This type of specialized technology is called yield monitoring, and it can help companies monitor their crops in real-time, record this data into a cloud-based system that's accessible from any Internet connectivity, even send alerts to technicians on the ground when something appears amiss. How Bank Reconciliations Work Accountants and bookkeepers use reconciliation to make sure that all transactions are recorde...

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  Many businesses consider Quickbooks Online (QBO) as an alternative to Xero to manage the finances in their business. QBO has by far the largest market share in the USA, but it is a long way behind Xero in the Australian marketplace despite having very similar functionality and a much cheaper price point. If you are looking for help staying on top of your bookkeeping in QBO, you should narrow your search to an Intuit QuickBooks ProAdvisor in Australia and check out iKeep. iKeep has recently been recognised as a Gold Pro Advisor with QBO, which is recognition for our teams familiarity with the software and the successful completion of various courses to ensure we are maximising our use of all features. Also we are Xero Platinum partners that puts us in a great position to help yo migrate from one system to another. One of the key benefits of Quickbooks Online is that is has fantastic integration with other cloud-based apps, which brings automation (and generally accuracy) to t...

  Offshoring has been a common practice in the business world for a long time, but it's something that has become accessible to smaller businesses in recent years. There are plenty of passionate views as to why people think it’s either a great idea, or a terrible process. We’ve been working with offshore team members for over 10 years and think that it’s wonderful! … once you’ve got your processes nailed. In this blog post, we will draw from our experience and talk through some of the myths and compare them to our reality. Offshoring is unsafe - This is a common myth that has been spread around by those who do not understand the concept of offshoring. By outsourcing to an offshore company, you can be assured that your data and information will be safe from hackers as it isn’t stored in one place. There are many MS office setups that can help you implement higher security for your data. Offshoring hurts local jobs - This type of thinking is ol...