March Quarter Q3 BAS is due by 28 April 2011 for businesses in and around Stirling to Warwick, or Gwelup to Balga, Inner Northern Suburbs, Perth, Australia
It seems we’ve only just completed the December Quarter Business Activity Statements (BAS returns)
Now, as the month of March comes to and end we find that people begin to panic about having any available funds to be able to pay their March Quarter Q3 BAS due 28 April 2011
This year Easter falls on the weekend just before ANZAC Day, so we’ll be pushing to get our clients BAS in order before the Easter School holidays.
Whether you use Quickbooks or MYOB, contact us today
As professional bookkeepers in Perth, we often called to the rescue to combat piles of paperwork
Are you fed up of the constant battle with your paper work, and chasing time to do get your bookkeeping upto date ?
For your business’ sake and your sanity Contact Us NOW!
There’s many business owners just like you that do not have enough hours in the day or week and are already too busy working in the business, with no time left to work ON the business.
That’s why savvy business operators outsource their bookkeeping to our team of professional bookkeepers who love doing the bookwork, and can get your paperwork upto date in a shorter time.
Maybe you, a relative, or a friend are trying to help you with your
bookkeeping, because you’re trying to save money of accounting fees.
Have you considered the true cost to your business?
There’s the time cost – do you have the right person to do the bookkeeping
There’s the cost of inaccuracies due to lack of experience / incorrect date entry
There’s the emotional / health cost brought on by stress of getting behind in your reporting
Focus on What You Do Best – Let Us do the Rest
Does this sound like you?
Up late the night before the BAS
is due?
You know that doing the Bookkeeping
is not the best use of your time
Just like so many business owners you HATE Bookkeeping
You’re not getting the right reports to make financial decisions to grow your business
You’ve been meaning to get on top of your paperwork, but it just hasn’t happened
You’ve been “burying your head in the sand” for too long , and now is the time to get your bookkeeping in order
The Australian Taxation Office (ATO) is chasing you for Business Activity Statements (B.A.S.) / End of Year Reports
For your business’ sake and your sanity Contact Us NOW!
Contact Us and let us show you how our professional bookkeepers providing bookkeeping services in and around Stirling to Warwick, Gwelup to Balga, Inner Northern Suburbs will get your bookkeeping under control.
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Posted under Bookkeeping |
Many Perth business owners are unwittingly affected by mental accounting.
What is Mental Accounting?
Quite simply we’ll use an example of buying a Perth concert ticket for $120. We show up to the event only to find we’ve lost the ticket in transit. Do we buy another one (if they’re available?) Probably not.
Let’s then say that we show up to the ticket office with $120 cash in our pocket. When we get there we discover that we’ve lost the $120 cash, but we happen to have some more cash in the wallet to still buy the ticket
In this instance most people would go ahead and buy the ticket, even though we’ve lost $120. But, wait a minute … in the first scenario we didn’t want to spend another $120, but in the second we did.
So what’s the difference?
We mentally think of the first situation of the concert ticket costing us $240, whilst in the second situation the tickets still the same $120, we just lost the other $120 somewhere else
From a bookkeeping perspective either way the situation leaves our wealth at $240 less off!!
Situations where we use mental accounting:
A) We go into a shop in Perth where there’s a sale, and we’re told that if we buy three items we’ll get the fourth free. So we think to ourselves that we’re saving money – but we’re actually out of pocket because we really only wanted one of the items, not four
B) We have $1000 savings in one bank account (with an interest rate of say 5%) whilst we have a credit card debt of $1000 at 15%
C ) We spend more using credit cards than with cash
D ) We’re more likely to spend our tax refund on “lifestyle” items than our savings
The whole point is that in all the above scenarios we are still spending money, so how can we be better off
People get wealthy using one simple formula – spend LESS than you earn.
Why Are we tricked In to This Thinking?
Many people value money differently depending on where it came from. People will rush out and squander their inheritance in the same way as they do with lottery winnings because they consider it as “Found” money
Just the same way many people rush out and spend their tax refund instead of saving it. They seem to forget that the tax refund was in most cases hard-earned income that was overpaid to the tax office, and therefore “forced savings”
We want to buy a car that was $20,500, but when we get to the Perth dealership we discover its an extra $500, so we “wear the increase” and buy it anyway.
If you were looking to buy a $500 fridge and found that it was now $1000, would you still buy it? Probably not – but in both cases we’re still making a decision based on the same $500 – that’s how Mental Accounting tricks us!
How Can You OverCome Your Mental Accounting
Treat ALL income as earned income – that you’ve had to work hard for it
Whenever you go to make a credit card purchase ask yourself “Do I really need this? Would I buy it if I had the cash?”
Money is still money. So an extra $5000 on the cost of a $400,000 house isn’t less than the extra $5000 more on a Lounge Suite
Bookkeeping IS THE KEY to success.
Little things like buying lunch each day for $15 rather than making it at home for $3 adds up over a week to an extra $60, or $240 per month or $7200 per year!!
Think how much that money could save off your home loan!!!
Business Activity Statements (BAS), for business owners reporting quarterly, are due on 28 July 2010. Contact us RIGHT NOW for help
For many small business owners and especially for their bookkeepers, July is always a busy time of year in Australia.
With end of financial year reporting, together with reporting of the 01 April to 30 June quarter, businesses that are behind in their paperwork can struggle under extra pressure that they really do not need
Cash flow has certainly tightened up in the economy. As bookkeepers, we’ve seen that invoice payments are being dragged out longer and longer, as suppliers wait to be paid by customers, and service providers wait to be paid by their clients
Focus on what you do best, and we’ll do the rest
The phone’s been ringing as desperate business owners in a panic wanting help with their MYOB and Quickbooks files. In most cases, they can simply email us the files and we’ll have a look at their reporting and can generally work out where the problems are within a short time
One lady contacted us after spending two days trying to reconcile her Quickbooks bank accounts. We had a look at her file and solved the problem in 35 minutes.
Look at the time and stress she would have saved if she had contacted our bookkeeping service when she first noticed that there was a problem
As a small business owner we encourage you to focus on what you do best, and we’ll do the rest
ATO Discontinue E-RecordThe Australian Taxation Office (ATO) announced that their E-Record system will not be available from July 2010.
So where does that leave small business owners?
Many of our bookkeeping clients around Stirling, Warwick, Gwelup or Balga, do not have accounting software, they simply hand us the paperwork and we prepare the bookkeeping on their behalf. Companies like MYOB and Quickbooks offer a basic software packing starting at around $50 and there are other options of free accounting software on the internet.
* You can browse through the range of Quickbooks and MYOB software HERE
* Need MYOB or Quickbooks Training? Contact Us HERE
* Want to know if Quickbooks or MYOB is the best for your business?
Contact Us HERE
As we all know, there ain’t such thing as a free lunch, so before you rush into a new accounting software program, have a chat with us and we’ll offer some economic solutions for your business.
Whilst the staff at Hardly Normal and similar electrical stores sell software, they know little about accounting or bookkeeping and will endeavour to sell you the most expensive package they can!
You can browse through the range of Quickbooks and MYOB software HERE or Contact Us HERE and we’ll help you determine which accounting software may be most suitable for you, to replace ATO E-Record.
The Australian Taxation Office (ATO) is searching Facebook as well as other social networking sites to chase offshore investors
According to tax expert Tony Anamourlis, who’s a lecturer at Latrobe University’s faculty of Law and Management. He reckons that the ATO is using such resources to investigate investors using offshore havens. Whilst there’s been pressure on international banks to supply information, Swiss bank UBS has not been so forthcoming.
Why do people tell their whole story on the internet anyway? Apparently insurance companies in the UK charge a higher premium for Facebook account holders because people are so open. Individuals have been known to tell other Facebook fans that exact dates that they will be going on holiday, only to return to find their house burgled.
Why would high-net wealth tax payers reveal so much information in cyber-space? Who knows! At the same time, it seems that staff at the ATO have nothing better to do than to surf the internet. How much is that costing the Australian Tax payer?
As a small business owner in the northern suburbs of Perth, there’s many reasons why you should get your bookkeeping upto date before the end of the financial year on 30 June 2010.
Often clients are devastated when they discover how much tax they have to pay because they didn’t plan for the FYE (financial year end). Leaving it until after 30 June is too late.
We are not tax agents or accounts, but our team of mobile Perth bookkeepers can certainly help you get your paperwork upto date so that you can at least have three quarters of the 2009/2010 financial year upto date and ready to visit your accountant before the end of June 2010
We’ve had many enquiries recently from small business owners in Perth’s northern suburbs asking about MYOB Bookkeepeing for the December quarter BAS that’s due 2 March 2010
Rather than struggling and getting stressed out over it, business owners around Stirling and Warwick have contacted our Perth Bookkeepers, looking for a mobile bookkeeping service.
We’ll come to your premises and review your MYOB data files – we can reconcile your bank account statements and run various checks and reports to ensure that all the data has been entered correctly and allocated in the correct accounts
The Australian Taxation Office advise that almost 80% of BAS forms are lodged incorrectly – as many small business owners are challenegd with the task of completing their Business Activity Statements
Posted under Bookkeeping |
Australians love an excuse for a public holiday.
It’s ripper when it falls on a Tuesday, because it’s a true blue fair dinkum reason to take Monday off, and make it a long weekend!!
Throw another prawn on the barbie, grab a slab of coldies, invite a few mates around, and have a good time
Thanks to Penrithcity.nsw.gov.au for the photo – Happy Australia Day
Business Activity Statements BAS are due on 2 March 2010 for businesses that report their GST obligations quarterly
With the Christmas holiday period over for many small businesses, 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 2009) 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. This is, of course, a Sunday. However, the next business day is not Monday, since it’s a public holiday in Western Australia. Thus the Q2 BAS is due on 2 March 2010
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 2 March 2010
If you are struggling with your bookkeeping and need help, if you do not have a bookkeeper, or are looking to outsource to a mobile bookkeeping service, then contact us now
You may use MYOB or Quickbooks accounting software – or even some other system for your bookwork. We can assist you with any challenges, or even just relieve you of the burden of the book-keeping
Our bookkeeping Service has clients in and around Stirling to Warwick, Gwelup to Balga, Inner Northern Suburbs, Perth, Australia. Contact us here for details
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