Sorting Out Your Accounts

  • What to Do If Your Bank Balance Does Not Match Your Local Ledger

    29 April 2020

    If you run a growing small business, you may have to deal with increasing complexity. With the expansion, you can expect a lot more customers, each one with their own demands, and you may also have to deal with a large number of suppliers, vendors and contractors. Of course, money makes the world go round, and each one of these entities will either pay you money or demand it, so you need to keep on top of your books.

  • New Home-Based Business? Don't Forget Those Tax Deductions

    28 April 2020

    In recent times there has been a lot of emphasis on working at home. People have been encouraged to do this no matter what type of business they are in or whether they have ever done it before. For some, it can be a very strange experience, but for others, it may be a revelation. Many people will see just how nice it is to work in a familiar environment and may think about opportunities ahead.

  • Why You Should Always Outsource Payroll Management

    26 March 2020

    As someone who is in charge of a growing business, you likely know how important it is to delegate and to get individual experts to take care of certain issues. In fact, your business would hardly operate without such a system in place, but still, you may be taking unnecessary risks by hanging on to your payroll operation. Why should you think about outsourcing this as a matter of urgency, and what are the risks involved if you do not?

  • How Can Sole Traders Benefit From Hiring a Taxation Expert?

    25 March 2020

    The Australian taxation system provides for people working on their own with the status of 'sole trader'. This is designed to make the process of calculating and paying tax as simple as possible for people like freelancers and tradesmen. As such, many people who operate as sole traders think that they will not benefit from tax advice. However, the reverse is so. These days, large numbers of sole traders hire tax accountants to help them work out exactly how much in taxes they are liable to pay.

  • How to Choose a Business Structure If You Want to Be Self-Employed

    25 March 2020

    As more people than ever seek to work from home, they may think about opening their own business to take advantage of the growing digital revolution. If you're in this situation and have discovered just how attractive it might be to operate your own business from your bedroom, what do you need to know about formal structure? Setting It up If you've been used to working for another organisation during your life, then you may well have received your money on a weekly or monthly basis from that employer.