Monday, 27 Feb 2023
Small businesses often allocate the task of bookkeeping to employees who have the competence to use accounting software. Hiring a professional with experience is considered an excessive cost that is usually avoided. Since these amateur workers do not have in-depth …
Friday, 24 Feb 2023
Business owners have a lot on their plates, and managing business capital is just one of their responsibilities. The workload involves supervision of projects, networking, pitching to important clients, liaising with potential suppliers, financial management, employee management and much more. …
Friday, 3 Feb 2023
Single Touch Payroll (STP) reporting is an integral part of the payroll management task performed by bookkeepers. It is mandatory for all employers in Melbourne to provide information about the salaries and wages, amounts withheld and super paid to the …
Monday, 30 Jan 2023
Working professionals earn a monthly income that helps them maintain their lifestyle and basic needs. However, when they retire, they are left with no source of income, and this is where ‘super’ comes to their rescue. Super is built with …
Monday, 23 Jan 2023
Bank reconciliation is an indispensable part of bookkeeping. It is needed to ensure accuracy and maintain up-to-date financial records. Professionals rely on this process to ascertain that all the transactions are verified, and the money has been credited into the …
Monday, 16 Jan 2023
Entrepreneurs in Melbourne are often in a dilemma when they need a financial management professional for their business. They cannot decide whether they need a bookkeeper, an accountant, or both. To end this confusion, they must understand the difference between …
Tuesday, 10 Jan 2023
Setting up the payroll system is one of the first things to be done when you hire employees for your business. It keeps the employee information organised, helps pay taxes, and maintains compliance with the government regulations in Melbourne. It …
Friday, 30 Dec 2022
Business equity is one of the most common terms used by entrepreneurs. However, it can be confusing to understand because of its accounting connotations. In the most basic sense, business equity is the ownership of the venture and its value. …
Wednesday, 28 Dec 2022
Businesses always worry about managing their expenses to maintain a positive cash flow. Budgeting and cost-cutting measures employed by the bookkeeper keep the outflow of capital in check and the business stable. However, growing inflation and rising costs of materials …
Monday, 19 Dec 2022
Businesses need bookkeeping to understand their current performance and future viability. As soon as an entity in Melbourne starts earning, it must maintain accurate records for every transaction that aid in making strategic financial decisions. Whether setting up the budget …
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