Blog

April 21, 2015

Good Cash Flow Management

For any type of business, cash on hand is critical when running an enterprise. The truth is, you don’t have to be an entrepreneur to know that cash is the lifeblood of any business. Why Cash Flow Management Is Important Maintaining a healthy flow of cash is not as easy as it sounds. This is where the expertise of your Bookkeeper Melbourne comes in. It requires a delicate balance of keeping track of money in and money out. It is also important that money comes it at the right time as you will need it to pay debts and loans, pay contractors and workers, purchase supplies, or even buy a new equipment. Cash Flow & Profit Some people confuse cash […]

April 13, 2015

Bookkeeping For Tradies

If you’ll ask any tradie what they hate about in business, almost too often the answer is paperwork. With so many things to attend to and clients to please, completing your Business Activity Statement (BAS) every quarter may not be one of your priorities — or even reconciling bank statements. But no matter how tedious these may be, these are important concerns you also need to attend to. If you don’t have the patience or the time, hiring a bookkeeper Melbourne presents the most practical option. As your business grows, consider delegating tasks to a bookkeeper Melbourne, who will charge you at a fixed monthly rate instead of on an hourly basis. Why Hire A Bookkeeper Melbourne? While doing it […]

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 […]