How To Set Up A Paperless Office System in 2021

Monday, 7 Jun 2021

The environmental impact of wasting paper in offices is a massive back step from the narrative of sustainability. Climate change is a sad reality, and there is a dire need to reverse its influence. The least bit of contribution that …

Invoice Vs Receipt: What’s the Difference?

Friday, 14 May 2021

Accounting and bookkeeping are usually considered the domains of professionals. However, entrepreneurs too need to understand the basics of the subject to comprehend their financial data and make sound business decisions. Among the fundamentals that need to be recognised, the …

The Difference Between Profitability and Profit

Friday, 7 May 2021

Profits and profitability may come across as the same measuring parameters that determine the success of a business. However, they are two different metrics that are used by bookkeepers in Melbourne to gauge the current and future performance of the …

Common Bookkeeping Mistakes that Business Owners Must Avoid

Wednesday, 21 Apr 2021

Bookkeeping is often perceived as one of the strenuous tasks that consume all the time of entrepreneurs. Managing books, recording transactions, preparing payroll, filing taxes, invoicing, etc., can take a toll on the already loaded business owner. Sill most small …

7 Ways Technology Has Changed Small Business Bookkeeping

Thursday, 15 Apr 2021

The digital age has revolutionised the entire world. From faster communication to global reach, technological advancements have transformed the way we function. While business activities have been revamped, small business bookkeeping has reached the next level. With the help of …

Steps to Building a Business Emergency Fund

Monday, 5 Apr 2021

The COVID-19 pandemic made all the entrepreneurs take a step back and consider the repercussions of the crisis carefully. It made even the biggest conglomerates in Melbourne take a blow while the small businesses struggled to stay a float. As …

7 Small Business Bookkeeping Tips For Entrepreneurs

Tuesday, 30 Mar 2021

Financial management is the most significant aspect of running a business successfully. Most small businesses in Melbourne fail in their infancy because of inadequate capital, which is a direct result of haphazard bookkeeping. It is easier to manage cash flow, …

Why Are Business Credit Reports Important?

Monday, 15 Mar 2021

The credit report is avital document that informs about the creditworthiness of the entity to the moneylenders and financial institutions. It helps the lending party decide whether they will be able to retrieve the payback instalments or not. The credit …

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 …

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