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 …

Benefits of Digital Bookkeeping for Small Businesses

Tuesday, 12 Apr 2022

The world has been making a transition toward the digital medium. From shopping for groceries to buying aeroplane tickets, everything is happening online. Consequently, both big and small businesses are moving towards digitalisation to keep pace with the changing buying …

Everything You Need to Know About Australian Business Taxes

Friday, 1 Apr 2022

Paying taxes is a significant part of running a business in Melbourne and compliance with the state tax laws becomes mandatory for every entity. Recently, small business owners contributed more than $85 billion as income tax in Australia. There are …

Understanding The Payroll Responsibilities of Small Business Owners

Tuesday, 22 Mar 2022

Entrepreneurship may seem like the best way to control your finances and give wings to your creativity. However, it comes with its fair share of responsibilities. From administrative work to sales management and tracking the supply chain, there are myriad …

What is the Difference Between Billing and Invoicing?

Friday, 11 Mar 2022

Billing and invoicing can become confusing because working professionals in Melbourne often interchange them. Since they are similar financial documents, they can often make the entrepreneur puzzled. Inability to differentiate between them can lead to accounting blunders and miscalculations. Expert …

Bookkeeping Errors and Ways to Avoid Them

Tuesday, 22 Feb 2022

Bookkeeping is one of the hardest nuts to crack for small business owners in Melbourne who are dealing with the pressure of scaling up quickly. Some of them try to work on the books themselves but cannot keep up with …

Why is Financial Plan Important for Your Business?

Thursday, 17 Feb 2022

A financial plan is the backbone of a business. It provides a roadmap to the business owner about the financial responsibilities related to the operations and growth of the entity. It helps in planning ahead for the year to manage …

Day to Day Bookkeeping Setup and Process

Friday, 11 Feb 2022

Bookkeeping is one of the most significant parts of running a business in Melbourne as it helps manage the finances effectively. It helps record every transaction taking place in the organisation and categorise them as debits and credits. The summary …

How to Master Your Small Business Finances

Friday, 4 Feb 2022

Starting a small business is only half the battle won. Entrepreneurship requires deep financial knowledge to manage capital and maintain a positive cash flow. Without financial management, a small business can face a cash crunch and lead to bankruptcy. Thus, …

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