Software, programs, applications, apps – they all mean the same thing and are basically the means to get computers to do what we want and make our lives easier. There are literally thousands of different software programs that you can use to help run your business better, so how do you choose the best apps?
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While there are many benefits to cloud computing, and we are huge advocates of taking your business systems online, there are still a number of risks involved that all business owners should be aware of so they can minimise any potentially adverse actions. So what are the potential risks involved with cloud computing? Lack of
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Getting your business activity statement (BAS) right is pretty important: not only can your cash flow be affected if you don’t get the refunds you’re entitled to, the Australian Taxation Office (ATO) may even impose some hefty fines if you get it wrong. So what are the more common mistakes and how can you avoid
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According to the Australian Taxation Office (ATO) many small businesses fail due to poor record-keeping. Aside from the legal reasons, there are many financial reasons for making sure your books are in order. So, how does good record-keeping ensure your business stays on track? Every small business owner knows that record-keeping can be one of
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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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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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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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A company is a separate legal entity with its own rights and obligations.  Company assets, liabilities, income and expenses belong to the company entity, not to the individual directors. Directors are bound by certain rules that govern your behaviour.  You must carry out your duties as a director in good faith, in the interests of
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At TrackMyNumbers, we love bookkeeping. We think it’s great to be able to help business owners and managers run their business more efficiently. But you may not understand all of the ways we can help you focus on growing your business. Keeping on top of your compliance obligations. Bookkeepers are always on top of the
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