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What Are PAYG Instalments And Who Needs To Pay Them?

Monday, 18 Mar 2019

You must have often heard about the term PAYG instalments in your professional dealings, or as a business owner, or from several bookkeepers. The abbreviation stands for Pay As You Go (PAYG) and the instalments are a system for making …

Auditing Of Not-For-Profits, Is It Necessary For All?

Friday, 8 Mar 2019

Reviewing and auditing of financial reports is not just limited to the for-profit sector. It is equally applicable to the not-for-profit entities and the 55,000 charities registered in Australia. The financial statements of non-profits in Melbourne are audited for a …

Using Big Data To Develop An Advanced Bookkeeping Practice

Wednesday, 27 Feb 2019

The modern world has broadened its horizons magnificently through globalisation and technological advancements which have revolutionised all business functions. Consequently, bookkeeping in Melbourne has also been affected by the wealth of financial information being generated by an organisation as well …

Changes in Australian Accounting Standards for Non-Profit Entities

Thursday, 21 Feb 2019

The not-for-profit entities operating in Australia are required to adhere to the Australian Accounting standards which specify the financial reporting obligations. The Australian Accounting Standards Board (AASB) is involved in the development, issuance and maintenance of the Australian Accounting Standards …

Four Simple Steps To Prepare Your BAS

Thursday, 14 Feb 2019

Running a business in Sydney is not a walk in the park. It comprises working on a variety of job functions like management, organisation development, operations, production, supply chain, etc. Besides taking charge of all these responsibilities, managing the accounts …

Non Profit Bookkeeping Requirements You Need To Know

Wednesday, 30 Jan 2019

Not-for-profit (NFP) entities are not the usual revenue-generating business models. They aim at achieving a greater good for society and thus are not interesting in multiplying their profits. However, they do work like every other organisation in Melbourne which has …

How To Go From A Sole Trader To A Company In Xero

Thursday, 24 Jan 2019

Deciding on the structure of the business is a vital decision which should not be taken in haste. It has a plethora of implications as it determines the amount of tax to be paid, asset protection, accountability of the owner, …

Advantages of Using XERO for Your Bookkeeping

Wednesday, 26 Dec 2018

With the advent of cloud-based systems, the bookkeeping process has undergone a paradigm shift. The digital revolution has eliminated the outdated data entry-based systems and paved way for automation. The switch to evolved techniques has improved accounting accuracy and efficiency. …

7 Ways To Make Your Business More Efficient

Wednesday, 12 Dec 2018

Owning a flourishing venture is a dream cherished by all entrepreneurs who have stepped into the domain of trade and commerce. The owner is always looking out for ways to enhance the processes and improve the efficiency which allows the …

Choosing The Bookkeeper That Is Right For Your Business

Wednesday, 28 Nov 2018

Bookkeeping may not be considered the lifeline of a business, but it definitely has the power to bring an empire down or make it flourish. It is a requisite tool in the arsenal of a business owner which allows accurate …

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