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March 30, 2015

Planning Ahead For Recession

Accurate historical data is important but you’ll ‘crash’ the business if you drive it by just looking in the rear view mirror. Today’s decisions will impact on your future results. If you don’t have a plan in place or prepare an annual budget you are asking for trouble when the economy turns south. It’s easy to get complacent during the good years but a budget creates a blueprint for the future that you can measure your actual performance against. Cash flow, which your bookkeeper Melbourne can prepare is usually the most common client concern, the most visible and therefore the most painful. By identifying all the activities that turn work into cash and then measuring those activities, the results can […]

March 23, 2015

Outsourcing Your Payroll – What You Need To Know

Does your business use an outside payroll service or hire a bookkeeper Melbourne for processing payroll? Are you thinking of using one? Payroll service companies or your bookkeeper Melbourne perform an important function assisting employers comply with laws. But these services also pose risks for employers. There are three categories of payroll service companies. In all three categories, the payroll service company computes employees’ withholdings and net pay, compiles payroll accounting records for the employer, and prepares payroll tax returns for the employer. The first category of payroll service companies are payroll service providers (“PSPs”). A PSP prepares payroll tax returns using the employer’s employer identification number (“EIN”). The employer signs and files the […]

March 16, 2015

Bookkeeping Tips For Tradesmen

Ask any tradie what holds them back in business, and often the answer will be paperwork.There is no better (or should we say worse) killer of time than having to sit at the kitchen table completing your Business Activity Statement (BAS) each quarter. Aside from doing your BAS there are all the other painful jobs such as issuing and chasing invoices, reconciling bank statements and crunching the numbers. As your business grows you might decide to outsource some or all of these tasks to a bookkeeper Melbourne. Given that a typical bookkeeper Melbourne will charge a lower hourly rate than the average tradesman, it makes very good business sense to outsource your books and BAS. So why do many tradies […]

March 13, 2015

Tips On Handling Better Cash Flow

There are promising signs for entrepreneurship and small businesses this year, but cash flow pressures remain. 2015 is set to be a key year for small companies. It’s a great time for raising finance too. With options ranging from new crowdfunding platforms, both equity and debt based, to companies providing working capital options, companies no longer have to rely so much on the ever-reluctant banks to lend them the money they need. Managing Cash Flow Nevertheless, there are challenges up ahead. For example, the retail sector continues to pose challenges in an era of massive competition and pressure on brick and mortar shops from online operators. Also, businesses across all sectors can still be hampered by cash flow issues. For as […]