Accounting
An increasing number of small business owners will complete their tax returns themselves this year, according to research undertaken by cloud accounting provider MYOB. The company’s June SME Snapshot revealed that 41% of owners plan to complete their own returns, up from 41% last year. John Moss, MYOB’s chief strategy officer told Dynamic Business that […]
It is rarely a good idea for any business to stand still and resist change as they could then find themselves at a disadvantage compared to their rivals, which is why it makes sense to see how automation can simplify yet improve your business processes at the same time. Here is an overview of the […]
Accountants have always suffered from a poor image. They have traditionally been predicted as dull, aloof and impersonal, and people assume they work on their own without much interference from others. They are typically right brained, methodical people who like details and numbers more than words, but having the ability to communicate well is critical […]
Australian businesses using Vend, TouchBistro, Posboss, Abacus, SalesIn, Mobi2Go or Boppl can now integrate with Square to simplify payment needs. The integration will give business owners across Australia who are using alternative point-of-sale and order management platforms the ability to accept payments with Square. Australian businesses can now access Square’s affordable hardware, fast deposits and online payment solutions […]
What do all successful businesses have in common? They’ve managed their finances effectively with good bookkeeping habits. Every business – no matter its size – needs an organised financial recording system to keep track of its expenses. Adopt these 5 bookkeeping habits to stay on top of your business’s finances. Invest In the Right Software […]
The SME community is divided when it comes to confidence in the Turnbull Government to address the relevant issues, according to research from a mid-tier accounting and advisory firm. Bentleys Chartered Accountants undertook a poll of 328 SMEs from across Australia and found that 45% have either low or very low expectations of the Turnbull […]
It’s has become much easier for business leaders to streamline their accounts and financial processes. Here are some tips and tools to get you started. With many companies struggling under the weight of inefficient processes and tightening budgets, automating the myriad of manual admin tasks that categorise accounts payable could save your company time and money. In Australia, […]
Company travel is being inefficiently managed by Australia and New Zealand’s SMEs, according to Serko, which revealed 81 millions hours are being lost to this process each year. The travel and expense management software company highlighted research by TNS Research, which found that 46% of Australia and New Zealand’s one million SMEs travel regularly […]
With a reputation for being the most smallest, most mobile and most affordable way for small business owners to accept credit cards, Square Reader is now available across Australia. Launched in March, Square Reader has been adopted by small and micro business owners who are using the innovative new business tool to accept Visa, MasterCard and American Express […]
Confusing isn’t it? Financial planning isn’t something most businesses know how to do well. But, a CPA can be a great addition to your team – keeping you out of legal and financial hot water. Here’s how to hire a bean counter that you can count on. Why You’d Want To Hire One There are […]
This article will focus on the best internal collection practices for your small business. This article assumes your business already has a credit policy in place and a collection policy in place. Also keep in mind that this article is focused on commercial as opposed to consumer collection matters although there are similarities between the […]
Accounting mistakes can cause great damage to a small business, such as yours, and totter it to its foundation. Sadly, accounting errors and fails are rather common, particularly in newly founded companies. In this article, we have gathered 5 of the most common accounting mistakes characterising small businesses based on data given to us by […]
Some businesses rise and fall on the backs of trucks. Whether you’re shipping or receiving products of your own, on behalf of other businesses or need a truck to help you ply your trade (concrete mixers or cranes for example) it pays to get a great deal on truck finance. Here are top 5 tips […]
There may be times in your business where as a small business owner you may have to look for a new accountant. This could be because you are setting up a new business in itself or in conjunction with your existing businesses, and would like advice on tax planning. It could also be because you […]
An ATO pilot program – the external compliance assurance process – that allowed taxpayers to self assess has been named success and could be rolled out more widely. According to a Fairfax report, the program involving 56 companies with an annual turnover between $100 million and $5 billion, allowed the choice of using a registered […]
The majority of small to medium sized businesses (SMEs) are not sale ready to take advantage of maximising the sale price when they sell. Approximately 50 per cent of businesses that have sought advice are not in a position to do so. In 2014 middle market mergers and acquisitions increased by 21 per cent according […]
Black Velvet is a Melbourne based boutique roastery and espresso bar that supplies quality beans to cafes and home baristas alike. Their second store based in the Galleria on Bourke St, which opened two months ago is already doing a roaring trade with thanks to the teams’ refocus on data and analytics to power and […]
At Heal.Thy Self Co. in Melbourne’s Yarraville neighbourhood owners Electra Tomasino and Dylan Davies believe that people thrive when they consume a diet based on whole foods straight from the earth. Her store offers plant-based, free range, organic, ethical and sustainable produce and can cater to almost anyone with wide-dietary requirements. “We’re focused on seasonal produce […]
The Australian Tax Office (ATO) will be targeting up to 90,000 small businesses over the next three months as part of a major compliance operation. The ATO will be obtaining details from 11 financial institutions including American Express, Commonwealth Bank and ANZ for credit card payments received by small business for the 2014-15 financial year. […]
When the annual financial results come onto the agenda at work, you’ll probably notice everyone’s eyes glazing over. This is incredibly unfortunate, with many not realising the huge opportunity missed to clearly and effectively communicate a company’s value and impact to both their employees and potential investors. With so many company financials falling into the […]
