Archives for Bookkeeping category
You may well ask how can a book-keeping fix a leaking pipe.
Simply this: As business owners and/or operators around Perth’s inner northern suburbs of Balcatta, Balga, Carine, Gwelup, Hamersley, Karrinyup, Nollamara, Stirling, or Westminster you need to keep a handle on your finances to keep your business running.
If you’ve got problems with cashflow, it’s hard to fix the problem if you do not know the cause. Contact us now for a free consultation
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It’s a question that we are often asked. “Should I get MYOB or would I be better to purchase Quickbooks?”
You could be sitting on the mountain at Bathurst listening to a Ford fan and a Holden fan having a debate about which car is better.
It seems you either love ‘em or you hate ‘em. The debate will continue forever
As a small business owner in and around Perth’s inner northern suburbs of Balcatta, Balga, Carine, Gwelup, Hamersley, Karrinyup, Nollamara, Stirling, or Westminster, there’s advantages to MYOB as an accounting package; there’s functions that Quickbooks perform in a simpler matter.
Many small business owners in Perth’s northern suburbs hate doing their own bookkeeping
Contact our Perth bookkeeping service and let us show you how little it will cost to get your bookkeeping under control.
Perhaps MYOB have undertaken a more effective marketing campaign in Australia, and are more widely recognised.
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The Rudd Government recently announced that it’s found a way to help small business owners.
Australian Government Reducing December Quarter PAYG by 20%
In an attempt to weather the global financial crises, The Australian Government is reducing by 20% the quarterly PAYG (Pay As You Go) instalment due for the December 2008 Quarter. If you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
However, the information released by the ATO then adds a comment. Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)
You may have already received a letter from the Australian Taxation Office in relation to the December quarter PAYG reduction. Just be aware that it’s not a tax cut and it will all be adjusted at the end of the financial year
PS We are not registered Tax Agents and cannot give advise in such matters – Speak to you accountant to see how it affects you
PPS Is Kevin Rudd the new face of the Nestle’s “Milky Bar”?
A new client contacted us out of desperation. Struggling to prepare all the documentation for the Business Activity Statement, she could not get the figures to balance.
We suggested she email us the MYOB data file, so that we could get a clearer understanding of where she was at with her bookwork. Contact us for details
She then admitted that there were two different data files being used in the office for the bookkeeping!
Here lies the problem: If you are working on the bookkeeping in one MYOB data file, and someone else is working on the bookkeeping in another data file for the same company at the same time, errors will arise – because MYOB is not designed to cater for that.
So we asked her to send us the other MYOB data file , and then we had to work out which file was the most current.
Often when clients around Stirling to Warwick, Gwelup to Balga, Inner Northern Suburbs, Perth ask us to help them with their BAS (Business Activity Statements) the problem is not with the BAS. The problem lies with somewhere within the bookkeeping process during the BAS preparation. You know the saying GIGO – garbage-in, garbage-out! The actual completion of the BAS form is the easy part.
After all, if the figures do not balance, you can simply make a general journal entry to fix it all up – right? WRONG Contact us for details
PS The ATO advises that:” if you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)
In a tight economy you need to ensure that you have a handle on what money you owe and to whom, and what money is owed to you and by whom.
If you do not use an accounting software package such as Quickbooks or MYOB, if you do not have a bookkeeper, or book-keeping system in place then you could be heading for disaster
Just remember, unlike Kevin Rudd’s government, you do not have an unlimited supply of cash, so as a small business owner in Stirling to Warwick, Gwelup to Balga, Inner Northern Suburbs, Perth you need to ensure that you have a handle on your cashflow. If you do not have a bookkeeper, or book-keeping system in place then contact us here for details
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Many people are returning to work today after the Christmas / New Year break.
With lower interest rates, lower fuel prices and Kevin Rudd throwing money around like it’s burning a hole in his pocket, what is in store for 2009?
The Australian Taxation Office continue on their relentless search to hammer small business owners and squeeze every last cent out of them. Meanwhile, at the big end of town, multi-nationals and large corporations seem to get away with paying very little tax in comparison.
We’ve seen an increase in small business owners receiving the dreaded ATO letter chasing possible outstanding taxes. Maybe you’ve been a little slack in submitting your Business Activity Statements (BAS) lodgments, and need some help in preparing the paperwork to complete the returns. Contact us here for details
Next Quarterly BAS due 28 February 2009
There’ a few more weeks before the December 2008 quarter is due to be lodged, but bear in mind that the following quarter is then only due a few weeks later, 28 April 2009. It sounds like there’s plenty of time in between, but in Australia there’s a few short weeks in April with Good Friday, Easter Monday and ANZAC day
Don’t get stressed about your bookwork, leave it to professional mobile bookkeepers like us. You can outsource your bookkeeping needs, in the know;ledge that it will be taken care of in a speedy and efficient manner.
Who knows, we may even find some extra income in your business that you were not aware of. Don’t be fooled by believing that bookkeeping is an expense for your business.
Having a good bookkeeping service such as ours, can be a great asset to your business, and you’ll find that our service far exceeds the level of fees.
Smart business operators around Stirling, Warwick, Balcatta realise that an outsourced bookeeping service is an excellent investment for your small business Contact us here for details
With Christmas out of the way, and many small businesses returning to work, it’s time to get all your paperwork together and get it to your bookkeeper or outsourced bookkeeping service- to report on the 2nd quarter (1 September to 31 December 2008) to get your BAS lodged on time.
Maybe the Australian Taxation Office (ATO) does have a heart, after all. Rather than asking for lodgements on 28 January, they automatically give everyone an extension to the BAS lodgements to 28 February.
However, don’t be fooled by their grace, because there is NO WAY that they’ll consider granting an extension after that date. So you need to ensure that you have your Business Activity Statement lodged by 28 February 2009
If you are struggling and need help, if you do not have a bookkeeper, or are looking to outsource to a mobile bookkeeping service, then contact us now
Our bookkeeping Service has clients in and around in Stirling to Warwick, Gwelup to Balga, Inner Northern Suburbs, Perth. Contact us here for details
PS The ATO advises that:” if you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)
Home renovations can be a popular way of adding value to a property, so long as they are done with care.
We recently inspected a detached house in Stirling that had been renovated and looked very presentable. So much so that the vendor had received a firm contract for a prospective purchaser, subject to a “Building and Pest” report.
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Posted under ATO, BAS, Bookkeeping, MYOB |
It’s BAS season again, and the phone’s running red-hot.
It’s not unusual for a small business owner to contact us from the areas around Balcatta, Balga, Carine, Gwelup, Hamersley, Karrinyup, Nollamara, Stirling and Westminster wanting to know how to complete their Business Activity Statement, that’s due on 28 October 2008.
I just need some help with Payroll, and BAS lodgements
Generally the problem is not with the BAS itself, rather it’s with the allocations and the data entry. So often we’ve seen clients who want to save money on bookeeping fees, by them trying to do the bookwork themselves.
Investing a few dollars in a good bookeeper once a quarter to help with your BAS can save you money
By not fully understanding the process, there’s a danger that your figures are incorrect, and you are declaring a higher Tax liability than is correct, and so you will be out of pocket.
Smart business owners understand that by investing a few dollars in a good book-keeper once a quarter, they actually end up ahead, compared to trying to sort out the bookwork themselves.
“I’m quite proficient with MYOB, but I just need some help with Payroll, and BAS lodgements, can you help?”
We often get telephone calls like this – Sometimes we an even help people over the telephone, there and then. Some clients need us to spend a couple of hours with them training to use the MYOB accounting package.
If you need help calculating your BAS from MYOB, then contact us HERE, sometimes it can be simply explained over the phone. Or we can look at your MYOB file and help you work out the BAS. Rather than getting stressed, contact us today
Other clients just need some extra help in working their way through the software to streamline their bookkeeping. Often we get referrals from book keeping clients who are very happy with the bookeeping service that we provide.
Contact Us when you need some help with your bookwork, or some training with your MYOB accounting software
Posted under ATO, Bookkeeping |
ATO Reviews Book/Record Keeping Of Small Businesses
The Australian Taxation Office have been engaged in extensive programs of visiting Small Businesses to check if they are keeping adequate bookkeeping records. Can your business survive a tax audit? Contact us for a review of your bookkeeping system
Section 262A of the ITAA 1936 requires that a person running a business to keep records that expalin and record all transactions. The documentation must be kept for a minimum of five years
If the ATO find that your bookkeeping is inadequate, then the taxpayer will be informed and advised to improve the record keeping operation, and your business will be revisited in six months.
The ATO has a list of records to be inspected and will contact you for a suitable time to review your bookkeeping and record keeping procedures
Can your business survive a tax audit? Contact us for a review of your bookkeeping system
Disclaimer: We are bookkeepers skilled in establishing and assisting with bookkeeping systems, we are not registered Tax Agents and cannot give advice in relation to tax matters.
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