Whether you use MYOB / Quickbooks, or you need Software Training for your small business in and around Robina, Varsity Lakes, Reedy Creek and Mudgeeraba, Gold Coast, Australia, we are here to help. Contact our Robina team of mobile book-keepers now Read the rest of this entry »
Business Activity Statements BAS, for business owners reporting quarterly, are due on 28 July 2009, only 8 days away.
July is always a busy time of year for many small business owners and especially for their bookkeepers around Burleigh, Robina and Palm Beach.
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
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 a t 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 company when she first noticed that there was a problem
As a small business owner around Burleigh, Robina and Palm Beach we encourage you to focus on what you do best, and we’ll do the rest
Small business should support small-to-medium enterprise (SME), a concept that the Australian Federal Government seems to fail to comprehend.
They are telling everyone how the Rudd Government is helping small businesses with the Small Business and General Business Tax Break.
The package is such that small businesses can claim a bonus 50 per cent tax deduction for eligible assets costing more than $1,000 acquired from 13 December 2008 until 31 December 2009, and installed ready for use by 31 December 2010.
To benefit from this Tax Break a small business must have a turnover of less than $2.0 million a year.
Forget the tax break, shop at your locally owned store
This may look good on paper, but unless you actually need to make any investment in capital purchases such as motor vehicles or equipment, how does it actually help small business?
It certainly helps large businesses – the suppliers of motor vehicles, national stationary / office equipment suppliers, hardly normal electical chain stores and the like, but how does it help you, the small business owner in Robina or Burleigh?
Speaking to an accountant of one of our bookkeeping clients recently, he said that whilst the incentive looks very rosy, you should actually look at the costs involved in the purchase of a new vehicle.
Taking all things into consideration for this particular client, the client was going to be worse off purchasing a new vehicle compared to finding a cheaper second-hand vehicle
Many small business owners are understandably looking to save money wherever they can, believing that’s the only way that they can increase their income. Yet at the sametime, they also want to increase their turnover by attracting more customers or upselling existing customers.
Why do small business owners have a problem with supporting other small-to-medium enterprises?
Many of our bookkeeping clients take their shopper dockets from the major supermarkets, to get discount fuel, rather than paying a few cents more (perhaps) for fuel from independent service station operators.
The same clients buy all their fruit and vegetables, meat and other groceries from the large supermarket chains instead of supporting small independent green-grocers or butchers
Why do small-to-medium enterprises complain that your potential customers are going to the large companies or multi-nationals instead of shopping from you? Maybe we should stop pointing the finger at other people, and start asking ourselves, why do small businesses have a problem trading with other small businesses?
Do large companies really care about the local Robina or Burleigh business owner? Not when the head office is in Sydney, Melbourne or even overseas
The positive effect on the local economy would be far wider reaching than all of those small business owners that continue to support large companies who are only interested in making huge profits for their shareholders (many of whom are large multi-nationals themselves).
Go shopping at your local independantly owned business, take business away from large corporations and bring back competition to the market place – you’ll be helping the local econmy whch will in-turn help your SME
July and August are busy months for many registered tax agents on the Gold Coast– as individuals hurry to lodge their income tax returns in the hope that they’ve been paying too much PAYG tax and hope to get a tax refund.
This time of year brings many enquiries for our bookkeeping service. The main questions are, for a basic Tax Return: “How Long, and How Much Fees?”
Stroll through any large shopping centre such as Robina Town Centre, or Stockland Burleigh West, and you’ll see that centre management have rented out the floor space in the middle of the mall to tax agents who’ve set themselves up like a fast-food outfit.
Wham, Bham, thank you, ma’am, and it’s all over!
Get ‘em in, sit ‘em down, fill in a form, and click a button …. Gone!!
We get quite a few enquiries from individuals, on a salary, with little expenses that they can claim, so their tax return is very straight forward. We are not registered Tax Agents and cannot advise / lodge tax returns on their behalf.
Normally if you go to a shopping centre you’ll trip over a registered tax agent – they’ll most likely set up a table at this time of year, and be sitting with their laptop waiting for the next customer to come along – costs about $100 and takes about 20 minutes, with about 3 or 4 weeks to get answer from ATO
Some of these tax agents only operate for a few months of the year, specifically to help individuals with their tax returns.
Small business owners may find that the service offered by these quick-fix-tax-return booths are not set up to handle your needs, and that’s where a mobile bookkeeping service such as ours can be of great benefit to you
As bookkeepers, we can help with any bookkeeping requirements you may have, so please feel free to contact us to discuss your bookkeeping setup
Happy New Financial Year – In Australia, the financial year starts on 1 July and ends 30 June
There were no fireworks on “New Year’s Eve” this June 30 in Robina or Varsity Lakes – it seems that Gold Coasters were more focused on winning the $90million Oz Lotto Jackpot.
Well, apparently one couple in Mermaid Beach were the lucky joint winners, securing over $50million
Have you made any New Year’s Resolutions?
We always encourage our clients to get a better handle on their paperwork – it save us time, and thus save our clients money in bookkeeping fees.
A very simple bookeeping habit to get into is simply this: everytime you pay an account, be it an invoice, or even making a cash purchase, you can do a little bit towards your bookkeeping. Write the date you paid the invoice, the amount you have paid, and the source of funds used for the payment.
Straightaway you are asking:”Why do I have to write the amount that I have paid on the invoice, when there’s already an amount printed on the invoice? Well, we do not know whether you are paying the whole amount as stated on the invoice, or whether you are making a part payment.
Why write the date of payment, when the invoice clearly states the invoice due date – Again, how does your bookkeeper know when you actually paid the invoice, without spending a few minutes chasing up the payment
Why write the payment method? You may have paid by cash, or by cheque, or by credit card, or Internet Bank Transfer
So which bank account, credit card account or other source of funds did you pay the invoice from?
A simple extra minute spent adding this information could dramatically reduce your bookkeeping fees each year
There’ many other New Year’s Resolutions that you could be making for a successful twelve months in your business
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