Accounting all year round

Posted on: 20 September 2016

If you are a business owner and your clients are taking longer and longer to pay up their invoices, you may find yourself feeling quite stressed. Unfortunately, late invoice payments are a common occurrence among most businesses. Typically, it is not a guarantee that just because you have a profitable business you will also have steady cash flow. So how is it that you could be having a profitable business yet you have unreliable cash flow finance? [Read More]

Posted on: 31 December 2015

BAS is an abbreviation that stands for Business Activity Statements. BAS agents are those professional that offer business activity statements related services. These professionals are trained and registered as accountants and bookkeepers. Businesses use BAS in their tax obligations. Other individuals that use BAS are those providing quarterly installments of pay-as-you-go tax.  But when do you need to be registered as BAS agent? This article will look at BAS and how to become qualified BAS agents in Australia. [Read More]

Posted on: 29 October 2015

Trading and bartering may seem like a great way to simplify life or even avoid taxation, but unfortunately, in many cases, you may have to pay taxes on trade and barter arrangements. Wondering when these rules apply to you? Check out these guidelines: 1. The Australian Taxation Office does not tax personal trade and barter situations. In most cases, if you use trade or barter for your personal, non-business use, the ATO does not tax that activity. [Read More]

Posted on: 26 June 2015

A common mistake most small business owners make is underrating the importance of hiring an accountant. When running your business, do not confuse a bookkeeper for a professional accountant. Managing your books is something a self-taught individual can do, as it comprises of maintaining the financial records of the business. This is done by inputting transactions following a regimented schedule and ensuring that the books balance. Small business accountants, on the other hand, will not be fully immersed in the daily transactions. [Read More]