Difference Between Periodic And Perpetual Inventory System

Tuesday, 23 Feb 2021

Inventory is a pre-requisite for any business in Melbourne selling goods and finished products. Management of the stock is a vital part of the bookkeeper’s job profile as it involves placing orders for fresh materials, getting them stored securely, and …

How Much Time Do Small Business Owners Spend On Bookkeeping?

Friday, 12 Feb 2021

Small business owners in Melbourne have to wear many hats while running their ventures. From conducted sales pitches and organisational management to paying taxes and payroll management, they have to carry out a plethora of functions. Although most of them …

10 Business Financial Terms You Need to Know

Thursday, 4 Feb 2021

Business owners may be great leaders but taking stock of the books may not come easily to them. They may have a fair knowledge of how the entity can be made profitable, but it is not enough for an entrepreneur. …

Concessions To Reduce Your Tax Bill In Australia: Complete Guide

Wednesday, 27 Jan 2021

Small business owners are always on the lookout for ways of reducing their expenses. However, they often end up paying much more than what is required because of lack of knowledge of the tax laws. The tax bills form a …

7 Bookkeeping Tips for Small Businesses

Tuesday, 12 Jan 2021

Every small business owner is committed to acquiring new customers and scaling up in the future. However, both short-term and long-term objectives are challenging to accomplish without a stable financial system backing the organisation. A professional bookkeeper in Melbourne helps …

What Are The Qualities Of A Good Bookkeeper?

Monday, 21 Dec 2020

Bookkeepers are the lifeline of a business who stabilise its financial position with their skills and expertise. They set the momentum of progress into motion through their correct tax filing and cash flow management. However, you need to find the …

What Are Reportable Fringe Benefits In Australia?

Thursday, 26 Nov 2020

You may have heard about the term fringe benefits but never paid much attention to it until the tax season arrived. As an entrepreneur in Melbourne, you are liable to the tax applicable on the fringe benefits enjoyed by your …

7 Steps Process To Create A Good Bookkeeping System

Thursday, 19 Nov 2020

Starting a small business and making the first proverbial sales is what every budding entrepreneur aspires to achieve. However, very few give a thought to keeping records of these business transactions in the initial stages. Bookkeeping is usually perceived as …

Small Business Charitable Giving and Tax Deductions: Complete Guide

Tuesday, 10 Nov 2020

Small businesses often become an ingrained part of local communities due to their influence on the surroundings. The loyalty they receive from their customers in the region is often paid back through donations and gifting towards the greater good. Since …

7 Tips for Better Small Business Bookkeeping

Wednesday, 21 Oct 2020

Bookkeeping is the most significant part of business management, which cannot be ignored at any point. The job demands a lot of time, consumption of tons of coffee cups, and head-scratching to find out where you spent the missing dollars. …

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