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, …

Benefits of Using a Bookkeeping Service

Monday, 24 Jan 2022

Business ownership makes entrepreneurs loaded with responsibilities that are integral for the efficient management of the organisation. Bookkeeping is one such task that needs constant attention because it requires recording every transaction. It is impossible to keep track of the …

Tips to Manage Finances for Start-Ups

Monday, 17 Jan 2022

Starting a business from scratch in Melbourne is a challenging endeavour that becomes even more complex in the first stage of the business life cycle. Managing the finances in the initial few years is crucial as it can make or …

Internal Cash Control Guidelines for Small Businesses

Monday, 3 Jan 2022

Internal controls are the policies developed by the senior management to ensure minimal errors and business operations run smoothly. They detail the steps that need to be taken in case of an error or irregularity to safeguard the assets and …

How To Check the Financial Health of Your Small Business?

Monday, 27 Dec 2021

Entrepreneurs need to be aware of the financial status of their business at any given point to understand its performance. Without this knowledge, they cannot make informed decisions related to buying equipment, starting a new product line, or entering new …

Are you STP Ready?

Wednesday, 8 Dec 2021

Single Touch Payroll (STP) is a mandatory obligation for businesses that helps them to bring down their payroll reporting responsibilities. The Australian Government introduced the system in 2018 for businesses with 20 or more employees, and by 2019, it included …

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