5 signs your business needs a bookkeeper

At some point, most businesses will likely need a bookkeeper. Doing the books yourself just won’t cut it anymore. Your bookkeeping becomes more complicated and time-consuming as your business grows. There comes a time when you realise that your time would be much better spent elsewhere in your business. So how do you know when…

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How to organise and manage invoices for bookkeeping

How many invoices does your business get per year? More than likely it’s a pretty big number. Which can make keeping track of them a challenge. But keeping, storing, categorising, and understanding each invoice is a vital part of bookkeeping. It ensures your business remains compliant and makes reporting a whole lot easier. So, how…

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Accounts receivable explained in 7 simple steps

A critical part of any business’ financial management is accounts receivable. This represents the money owed to a business by customers for products sold or services rendered. Managing accounts receivable involves tracking and collecting payments from customers efficiently to keep cash flowing into your business. For many business owners, this whole process can be confusing.…

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Bookkeeping In-house or Outsourced: Which is Right for Your Business?

For many CEOs and business owners, in-house bookkeeping and accounting are familiar and reliable options to manage their financial statements. However, with the advancement of technology, it may not always be the best solution. Outsourced bookkeeping services offer different workflows in managing bookkeeping and accounting that can often be less costly and more expert than…

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Bookkeeping is not the same as accounting, here’s why

Bookkeeping and accounting are often used interchangeably, but they are not the same thing. Each covers a different aspect of your business’ financial management. They each have a unique, but complimentary role in helping your business, ensuring its financial stability. The role of bookkeepers and accountants has shifted with time, as technology and automation have…

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Paid family and domestic violence leave

As of 1 February, 2023, employees of all non-small businesses will be entitled to access 10 days of paid family and domestic violence leave in a 12-month period. For employees of small businesses, this access starts on 1 August, 2023. Full-time, part-time, and casual employees will be able to access all 10 days of paid…

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What is the difference between cash flow and profit

Cash flow and profit are two terms you have probably heard being thrown around everywhere. Whether it be by your accountant, bookkeeper, business coach, on the internet, or your staff. But what do they mean? While they are used a lot, they are definitely not interchangeable terms. Each means something different. So, let’s take a…

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Changes in Super Guarantee for 2023 financial year

Two essential changes in Super Guarantee will apply from 1 July 2022. As a business owner, it is important that you are on top of these. To help you out, we have created this easy guide to run down what they are, what this means and what you need to do. Super Guarantee rate will…

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What’s the difference between a BAS Agent and a Bookkeeper?

Not all BAS Agents are bookkeepers and not all bookkeepers are BAS Agents. There is an important distinction between the responsibilities handled by both roles. A bookkeeper and a BAS Agent play an integral part in any business. Both have ongoing roles that ensure your business’ financial records are accurate and kept up to date…

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