The start of the new financial year is the perfect time to take a step back from your business to assess how it’s going and make any necessary adjustments. But when you’re engrossed in the day-to-day running of your business, it can be hard to know where to begin. We’ve outlined the steps you should
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Getting the right software can be a game-changer for your business. If you get it right, it can make a big difference to your bottom line by greatly improving the productivity of your staff. However, getting it wrong can be costly both in terms of the money and time wasted. So how do you avoid
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Australian businesses with an annual turnover of more than $75,000 must be registered for GST. Charging an extra 10 per cent on top of services sounds simple, yet a number of small business owners get caught making one or more of these mistakes with GST. Businesses falling beneath the $75,000 threshold are not required to
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The $20,000 Small Business Instant Asset Write-Off has been extended for another 12 months. Businesses with an aggregated turnover of less than $10 million will be able to take advantage of the write-off until 30 June 2018 provided that the asset was acquired and installed ready for use in your business by this date. The
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The Federal Treasurer has presented the 2017 Budget to parliament and, amid all the hype, it can be confusing to know how it may impact your business. We’ve outlined the most important aspects of the proposed changes as we see them potentially affecting SMEs. National Partnership on Regulatory Reform (NPRR) The Federal Government has committed
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As a small business owner, you probably don’t have the time or the budget to make big changes to improve your business. However, even minor changes can make a noticeable difference to your bottom line. Here are some of our best tips to help your business stay on track. Use the right tools. You wouldn’t
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Starting and running your own business can be tough which is probably why so many fail within the first few years. There are many missteps people make while establishing and running their business that can lead to failure. We’ve listed the top 10, in no particular order, so that you can learn from the business
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In order to provide a complete set of services to their clients, accountants will often work with external bookkeepers. To make the most of this relationship, it’s important that you, as an accountant, choose the right bookkeeping partner. So, how do you know the bookkeeper you deal with is going to be an asset to
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The accounting process as we know it today evolved from the work of an Italian friar, Luca Pacioli, who, in 1494 had a book, Summa de arithmetica, geometria, proportioni et proportionalita, published that set out the details of the double-entry bookkeeping system. While he was not the first to use this system, his book described
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Business owners are often concerned about the financial state of their business. But many are unsure about how to stay up-to-date with the comings and goings of their finances. That’s where their bookkeeper can help. While many people turn to family or friends for business advice, they are often no match for the expertise and
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