Information For Employers & Employees Employees use the Super Choice Form to choose the superannuation fund into which their employer will pay their superannuation contributions. Employers must provide a standard choice form to employees at the commencement of employment. The Super Choice Form is required by law, and employers are legally required to make superannuation…
DetailsResearch shows that around 50% of business invoices in Australia are paid late. This is not only extremely frustrating, but it also means that small business owners and managers spend hours tied up with administration and chasing payments. It can also mean short term cash crunches that cause unnecessary stress for those running the business,…
DetailsEach year, 30 June can be a stressful time if you are running your own business. The end of the financial year can bring an “oh no” moment as you realise that the bookkeeping, accounting records, invoices, and tax receipts that you have collected over the course of the year need to be put into…
DetailsPayroll challenges mean that it is not easy for small businesses, and even larger or more mature businesses, to get this crucial function right 100% of the time. But when mistakes in payroll are made, the amount of time taken to identify, unravel and fix underpayments or mistakes can be a huge drain on the…
DetailsRemember when the internet was new, and everyone’s guard was up? Many of us were too afraid to give up our first name, never mind our credit card details and personal home address. Fast-forward to today, and nearly everyone is divulging their personal lives online. Efficiency and increased productivity are two reasons why, but the…
DetailsSmall businesses have some big changes coming their way this July when it comes to reporting their finances to the Australian Taxation Office (ATO). Single touch payroll (STP) isn’t new, having been mandatory for businesses with 20 or more employees since July 2018. As of this year, however, STP (also known as “one touch payroll”)…
DetailsA bookkeeper is a person who is responsible for handling. recording and maintaining the financial transactions and affairs for a business. They can be responsible for transactions as simple as entering an expense receipt, up to processing payroll, and preparing financial reports for business owners. Today this work often involves cost-effective software usage. Bookkeepers need…
DetailsWe often come across clients at vital turning points in their development phase. Business owners find it challenging to manage their business transactions whilst also trying to manage their business. Business owners do not start a business to become a bookkeeper and as it is generally not their area of expertise, it can take them…
DetailsNo, it’s not when your spouse says mean things about your reverse parking skills… a ‘Critical Driver’ is a critically important factor that determines or causes an increase in value or improvement in your business. Identifying & monitoring key Critical Drivers are crucial to boosting profitability. Allow me to explain: I like to compare Critical…
DetailsLike a yardstick and divining rod in one, your scoreboard is a critical predictive tool for business-owners. Interpreted correctly, it can help you avoid trouble up ahead and plan for future success. By ‘scoreboard’, I mean your business’ Profit & Loss Statement (P&L), Balance Sheet and Statement of Cash Flow, and how they relate to one another.…
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