Each 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…
Small 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”)…
Business owners are all too familiar with fighting financial fires, which often occur because there‘s no robust and efficient framework of systems and procedures for financial management in place. Consider what could happen if you took ‘step 1’ towards implementing robust financial management systems. In other words, stop and take stock: analyse your current position…