Small Business

July 13, 2015

When Should You Receive Monthly Salary?

One option business owners’ have is to include themselves in the payroll system but they have to balance their pay with the financial needs of the business. Have you seriously discussed this with your Bookkeeper Melbourne? If business owner’ include themselves on the payroll they have to consider the following; How much they pay themselves either in payroll, dividends and loans . The amount of money they take. Will it be more than the highest paid employee, or an amount that will make them comfortable? When is the time to get the money out of the business? Will it be alright if they will not pay themselves? The following guide will be of help; Consider the income flow of your […]

July 10, 2015

5 Financial Tips for Small Business Owners

Small business owners especially starters finds it hard to survive in a highly competitive climate. Here are some tips to guide them to succeed. Budget your spending. There is a need to know how much money is needed to break even and how much to spend to run the business on a day to day basis. Separate your income into categories: -prospective income -fixed expenses -variable expenses -pay cheque allowance Identify what is a necessary expense as what you want. Wants are limitless. Don’t spend, Invest. Items that will give you long-term benefits will be a priority in spending hard-earned money. Always balance the cost against the benefits. See also that your expense will help in increasing the business or […]

June 29, 2015

Five Mistakes to Avoid When Starting a Business

If you want to succeed in your business, you have to avoid mistakes to ensure survival in the business. Here are some tips when starting a business. Listed common mistakes that you have to avoid if you want continuity of your business. Trying to do it all. It is advisable not to do all the things by yourself. You employ people who can help you. Assign task that can be delegated so you will have time for more sensitive and bigger issues. Just make sure you allocate funds for salaries of your staff. Trying to do it alone. It is very tough if you will start a business alone. You need people who can give you support and counsel. Failing […]

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 […]