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Why Budgeting Is Important For Businesses?

Wednesday, 10 Aug 2022

A budget is a strategic plan devised by the bookkeeper to determine the expenses and revenues in a given period. It helps the organisation understand the amount that can be spent and saved while conducting business operations. Young entrepreneurs in …

Are Business Loans Tax-Deductible?

Monday, 1 Aug 2022

Business loans are often needed to inject more capital into the processes and operations, expand the reach and production, and acquire new equipment or implement new technology. It is easier to accomplish these tasks using a loan because you can …

Do You Need an Accountant If You Use Xero or QuickBooks?

Wednesday, 20 Jul 2022

The advent of accounting software has brought a revolutionary change in how small businesses in Melbourne manage their financial records. These tools are rapidly gaining mass popularity and becoming an integral part of accounting. With their dominance and widespread usage, …

How Can Small Businesses Reduce Taxes?

Thursday, 30 Jun 2022

Filing income tax is the most taxing period for an entrepreneur. They have to part with their hard-earned money and scour through the books to identify the expenses that can be claimed for deductions. Many of them end up paying …

10 Small Business Tax Deductions You Should Know in 2022

Friday, 17 Jun 2022

Business taxes are a considerable obligation that cannot be ignored. Preparing for the tax season in advance is essential to ensure that you are ready with the submissions and reports. Entrepreneurs rely on professional bookkeeper Melbourne to pay their taxes …

7 Tips For Efficient Bank Reconciliation

Tuesday, 7 Jun 2022

Bank reconciliation is a vital part of bookkeeping that allows comparing the balance sheet of the business with its bank statement. It is required to ensure that the records in the books are accurate and there are no errors in …

Benefits of Professional Bookkeeping for Your Small Business

Monday, 30 May 2022

Delegation is an integral part of running a business. However, there are certain processes like bookkeeping that need subject matter expertise and competence to deliver results. These highly significant tasks cannot be handed over to inexperienced employees because a small …

How To Build A Financial Plan For Your Small Business?

Friday, 20 May 2022

The financial plan is an indelible part of business planning. It helps to understand if the entity will stay afloat and determines its viability according to the estimates made for incomings and outgoings. Professional Bookkeepers Melbourne are assigned the task …

How To Prevent Small Business Frauds?

Friday, 29 Apr 2022

Small businesses are built on mutual trust and loyalty towards the organisation. However, it does not protect them from employee fraud and embezzlement. Many small and medium-sized entities in Melbourne face challenges like unrecorded expenses and cashing of unauthorised cheques …

Accounts Payable Management and Profitability Impact

Wednesday, 20 Apr 2022

Accounts payable are always on top of the mind of bookkeepers because they form the short-term liabilities of the business. It is the money that the company needs to pay its suppliers and vendors to purchase stocks and supplies. Categorised …

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