Wednesday, 24 Jul 2024
Businesses have to keep track of their income and expenses to know how the capital is being utilised and generated. Bookkeeping offers an effective solution for this purpose through accurate recordkeeping. It involves categorising and recording income and expenses without …
Wednesday, 10 Jul 2024
Business owners must make conscious financial decisions that allow them to flourish and utilise their funds appropriately. These decisions ensure they do not go overboard with spending or compromise on quality to cut costs. They must spend within the budget …
Wednesday, 3 Jul 2024
Digitisation has been the most prominent disruptive transformation, but it is now being overtaken by automation. As technological advancements gain pace, computerised data management is being replaced by machine learning and artificial intelligence. In addition, big data and blockchain technology …
Thursday, 27 Jun 2024
Entrepreneurs are often seen delegating the bookkeeping task to experts and forgetting about it. However, it is more than just updating the books and filing taxes. Bookkeeping is significant for the business in several ways. It increases the entity’s credibility …
Wednesday, 12 Jun 2024
Australian businesses are moving towards a technological revolution propelled by innovations like Blockchain technology, AI and big data. The increasing utilisation of advanced tech in the day-to-day lives of consumers through smartphones and voice assistants makes businesses adopt them quickly. …
Monday, 3 Jun 2024
As we move closer to June, the fear of the end of the financial year (EOFY) looms large over businesses in Australia. This time is highly significant for bookkeeping purposes because businesses have to file tax returns, and forecasting for …
Thursday, 16 May 2024
Bookkeeping was a complex task that took hours to complete before computers made the lives of finance professionals easier. While computers streamlined and organised data entry tasks, the current crop of cloud-based bookkeeping software is taking automation a step forward. It has …
Thursday, 2 May 2024
A business activity statement (BAS) is a form filled out by all the GST registered businesses in Australia to provide details of the GST activity of the entity in a given period. The size of the business determines the number …
Tuesday, 23 Apr 2024
Abundance of cash implies the business is faring well while a list of debts and liabilities showcases the downfall of the entity. The success of a business is measured by its cash flow, and a positive figure indicates a thriving …
Wednesday, 10 Apr 2024
Bookkeepers are busy professionals who must maintain up-to-date business records and finances. They must stay informed about the latest tax regulations, technology trends in the finance sector and industry news to manage the cash flow effectively. As they take on …
