Thursday, 11 Jan 2024
Small businesses have limited clients but a higher need for financial management. Many start-ups fail within five years of establishment because they cannot pay their bills. Generating a significant income and maintaining profits is essential to sustain the business. While …
Thursday, 4 Jan 2024
Records are the historical evidence of events in a commercial organisation. While some records are needed to gather data for internal controls, others are needed to comply with legal regulations. Every Australian business has to maintain its financial records that …
Friday, 22 Dec 2023
Money plays a pivotal role in the success of a venture. Start-ups begin with a bang as they have the support of the seed capital but often fizzle out without making any noise. Most small entities get entangled in a …
Monday, 11 Dec 2023
While most businesses operate for financial gains, some entities exist for the social good. These are not-for-profit organisations in Australia because they do not use their income for personal gains or the growth of their members and employees. It has …
Monday, 4 Dec 2023
Bookkeepers are the support system of a successful organisation. They bring stability and financial strength to the organisation with their monetary knowledge and budgetary skills. They ensure the business has sufficient capital to pay its bills without deficits. They find …
Tuesday, 21 Nov 2023
Bookkeeping is one of the most tedious tasks because of the constant need to record financial data. Every transaction must be included in the books accurately to generate reports, understand the financial health of the business and identify opportunities and …
Friday, 10 Nov 2023
Payroll is a consistent expense incurred by businesses. It ensures the workforce is paid accurate salaries and wages according to their roles and responsibilities in the organisation. Since it is a complex task that involves calculating individual compensation for all …
Thursday, 2 Nov 2023
Seasoned entrepreneurs who are not satisfied with one stream of income and often launch or acquire new ventures. They may set up subsidiaries or build completely independent entities that help them to keep their passion alive. They know the tricks …
Monday, 23 Oct 2023
Business taxes are contributions made by entities to develop public services in their states. The Australian Taxation Office collects it and helps companies enjoy benefits like connectivity through roads, public transportation and well-maintained public areas. While many business owners consider …
Monday, 16 Oct 2023
Bookkeeping software has replaced manual data entry with accurate and automated recordkeeping. The digital tool has become a necessity for businesses because it saves the time and effort of bookkeepers in Melbourne. It has helped professionals to utilise their freed-up …
