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 …
Wednesday, 23 Nov 2022
An entrepreneur who gives his blood and sweat to build a business is often loaded with many responsibilities. They become emotionally and personally involved in the establishment and growth of the venture. Since they do not consider the company a …
Friday, 18 Nov 2022
Financial management requires dedicated attention to the cash flow, expenses, income, investments, debts, taxes, etc. Many small business owners in Melbourne take up bookkeeping work without hiring a professional to reduce costs. However, managing operations, marketing, sales and overall leadership …
Monday, 7 Nov 2022
Running a business in Melbourne without a budget is like moving aimlessly without any purpose. A budget is a financial plan that acts as a roadmap for effectively utilising the business capital. It helps allocate money to different departments according …
