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What Insight Can You Get From Your Profit And Loss Statement

Monday, 1 Jul 2019

If you have been running a business in Sydney, you must be well aware of the income statement or the profit and loss statement. As the name suggests, this document provides the details of the organisation’s expenses and sales over …

Bookkeeper Vs BAS Agent: What Is The Difference

Tuesday, 25 Jun 2019

Any job which is related to number crunching and finance management gets termed as accounting or bookkeeping by most people. However, we make a grave mistake by categorising accountants, bookkeepers, BAS agents and tax agents in the same league. They …

Which Is The Best Accounting Software For Non-Profits In Australia?

Wednesday, 19 Jun 2019

The humungous non-profit sector in Australia has come a long way. The number of not-for-profit organisations is increasing, and they are operating in diverse genres in cities like Melbourne. While many are seeking a foothold in the industry, others have …

Are You Ready For Single Touch Payroll?

Tuesday, 11 Jun 2019

You might have heard a lot about the Single Touch Payroll (STP) and may have even tried to solve the enigma. If it seemed a bit overwhelming, here is what you need to know. STP was introduced by the Australian …

Biggest Bookkeeping Challenges Faced By Non-Profits In Australia

Wednesday, 29 May 2019

Whether it is a small non-profit initiative organised by a few friends or a nation-wide entity, bookkeeping plays a significant part in determining its success. Financial management and reporting for non-profits in Australia are governed by new accounting standards AASB …

Essential Tips for Starting a New Business

Monday, 20 May 2019

Now that you have made the decision to start your own business, the next question will be, what to do next. This can be an overwhelming time for many people, so here are some tips to make things clearer. With …

Bookkeeping Guide: Use An FBT Calculator

Friday, 10 May 2019

Fringe benefits are offered by an organisation to the employees to keep them satisfied and entice the best minds in the industry. These can include a company car, car parking benefit, entertainment-related benefits, loan fringe benefit, housing fringe benefit, property …

The Income Tax Implications of Property Lease Incentives

Friday, 26 Apr 2019

Property lease incentives are offered to entice tenants by landlords of commercial properties. It is typically a discount on the asking lease price which is based on the value of the lease term. It can be offered to persuade a …

What Payroll Taxes Do Not-For-Profit Organisations Pay?

Monday, 15 Apr 2019

Not-for-profit organisations in Melbourne have to abide by the payroll tax charged by the Victorian government. A payroll tax is a self-calculated state and territory tax assessed on the wages paid or payable to the employees by the employer. The …

Update On Small Business: Instant Asset Write-Off Extended Until 2020!

Monday, 8 Apr 2019

The instant asset write-off has been creating a lot of buzz in Sydney since January when the federal government announced about the extension of its deadline till 2020 and an increase of $5000 in its threshold value. The changes are …

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