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A 10-Point EOFY Checklist to Raise with Your Trusted Advisor

Author: Tailored Accounts

Many of our clients don’t have an accounting background, so it can be difficult for them to check the work of their accountant or bookkeeper. Knowing that the certainty of work being done right can take a load off everyone's shoulders, here are 10 things to tick off with your trusted advisor.

1. STP Reconciliation: Confirm that your bookkeeper and/or accountant has conducted a reconciliation between total salary and PAYG withholding in the payment summary report sent to the ATO, totalling W1 and W2 reported on BASs during the financial year.

2. Business Activity Statement (BAS): Ask your bookkeeper to run an annual BAS report as of 30th June and compare it with your BASs lodged to the ATO. Any discrepancy will need an explanation.

3. Bank: Look at the bank reconciliation report as of 30th June. Compare that with your bank’s closing balance as of 30th June, even a $1 discrepancy deserves a further check.

4. Aged Receivable & Payable Report as of 30th June: Review this report to ensure that it makes sense to you. Is there a debtor that you’ve already paid that’s still showing up?

5. Asset & Equipment: Review asset and equipment movement in the Balance Sheet between this year and last year. Have you purchased any asset that has not been included in this year’s balance sheet? Should you use Instant Asset Write Off this year?

6. Balance on GST Payable Account: Does this account show the balance of your last BAS quarter? Is it indicating that you owe the Tax Office more than $100k? If you don’t have any cash-flow problems, what would be the cause of that?

7. Balance on super payable account: Is it showing the balance of your last quarter super only? Anything more would deserve a closer look.

8. Balance on Loan and Lease Account: Check your Loan and Lease statement as of 30th June to ensure that it is reconciled.

9. Leave Balance: Print out your payroll leave balance (in dollar value) and compare it to your leave provisional liability in the Balance Sheet. If an employee has a 2-month Long Service Leave (LSL) balance when your balance sheet is showing no provision for LSL, it’s time for you to ask questions.

10. Are any transactions being posted to your account? This could be general expenses, miscellaneous expenses, sundry expenses, unallocated expenses, drawings etc. This is a good indicator of lazy data entry.

Here at Tailored Accounts, we teach our clients to conduct a review of our work using these checkpoints. Your financial figures make more sense to you than to us. And on the off-chance that you pick up something that we won’t, we much rather be “accurate” than “right”. 

If you are interested in learning more about how to diagnose your books and accounts status, please don’t hesitate to contact us.

Be the first to access articles like these and more by subscribing to Tailored Accounts’ weekly newsletter.

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EOFY 2022: A Final Checklist

Author: Tailored Accounts

With only one week to the end of the financial year, are you ready?

EOFY is always an exceptionally busy time for small business owners but it is also a very important period. Just completing necessary EOFY tasks is not enough. This is the time where businesses should start preparing and organising themselves, placing themselves in the best position for the year ahead.

Business.gov.au has shared an EOFY checklist to help businesses achieve this goal, a valuable resource that Tailored Accounts would like to share and expand on.

1. Record keeping and compliance

All businesses have a responsibility to complete certain tasks for EOFY. If you are unsure about your obligations, visit the Australian Tax Office (ATO) website or call the ATO on 13 28 66. The ATO has also shared their 4 priorities for tax time 2022, so make sure that you get these areas right! Additionally, here is a link to Tailored Accounts’ guide on EOFY preparation.

2. Know what tax deductions and concessions you can claim

You can claim deductions for most business expenses, as long as they directly relate to earning your income. Be sure to do your homework and know exactly what tax deductions you can claim to maximise your tax savings! 

Sole traders can use the ATO’s myDeductions tool to record business income and expenses throughout the year. Instructions on how to use these tools can be found here. More information on tax concessions is available here.

3. Use a registered tax agent 

Ensure your tax agent is registered with the Tax Practitioners Board (TPB). There's no protection for taxpayers who use unregistered tax or Business Activity Statement (BAS) agents.

4. Keep up to date with tax changes 

There may be tax changes each year that you need to be aware of. These might include changes in tax breaks and deductions for small businesses. You can stay up-to-date with any changes by subscribing to Tailored Accounts' weekly newsletter.

5. Review your finances

Spend some time reviewing your finances by yourself, or with your accountant or bookkeeper. Look at whether you met your targets and what you can do differently next financial year. Feel free to contact Tailored Accounts if you’d like our help with this process.

6. Be aware of common tax time scams

There are a number of scams that target small businesses around tax time. Common tax time scams include tax refund scams or tax owed scams. Recently, the ATO has posted warnings on GST fraud and fake websites that offer to obtain a TFN or ABN for a fee.

7. Review your business and marketing plans

Take time to set yourself up for the year ahead. Regularly reviewing and updating your plans will help:

  • Remind you of your goals
  • Assess if your strategies are working
  • Adapt to any changes in your environment
  • Make the best of the opportunities that come your way
  • Help you work smarter, not harder

Here are some business plan and marketing plan templates to get you started.

8. Review your business structure

As your business grows and expands, you may decide to change your business structure or restructure your business. The compliance and taxation regulations differ depending on your business structure. Feel free to contact Tailored Accounts if you have anything you’d like to clarify.

9. Check your insurance

If your circumstances change, you may need to update your level of cover. Read the product disclosure statements (PDS) for your insurance policies carefully. Don't assume you're covered. Learn how to make sure your business has the right insurance here.

Tailored Accounts is passionate about keeping our community informed and updated. Be sure to subscribe to our weekly newsletters to gain access to the latest policy updates, news, grants, opportunities, events, and more!

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Behind the Scenes Look at EOFY: A Magical Touch

Author: Harry Hoang | CEO of Tailored Accounts

With the End of Financial Year (EOFY) fast approaching, offices of accountants and bookkeepers are filled with the hustle and bustle of time-critical challenges. Some of you may wonder what makes EOFY an especially hectic time.  This article will give you a behind the scenes look at EOFY preparation.

Having worked in the accounting industry for more than a decade, I consider EOFY preparation as an opportunity to put in extra effort to ensure accurate, up-to-date numbers as well as presentable reporting. These outputs are the results of, what I call, a magical touch on your books.

The following list articulates the main examples of “magical touches” we exert to ensure your books are in the best order:


1.      The Year-End Payroll

During the financial year, we process 12 – 52 payrolls for each of our clients. At the end of each month or quarter, our team reports this payroll information to the Australian Taxation Office (ATO). In addition to the accurate reports regularly lodged to the ATO, payroll reconciliations at year-end take extra care and attention to ensure all requirements are met. Here are the core tasks that our team has been undertaking in the process of EOFY preparation:

  • Final super payment runs must be done before 25th June each year to ensure the last super payment is eligible for a tax deduction in the current financial year. Final salary sacrifice payment runs must happen on or before the same date. These particular tasks will require a few extra hours of work during the EOFY period.
  • Tailored Accounts will be preparing STP on behalf of our clients and submit them to the ATO. We will submit STP to the ATO by 14th August via STP enable software. Your payroll summary (used to be called payment summaries) will automatically show up in your MyGov ATO section.
  • If you are managing your own payroll, you will also need to have STP ready for employees by 14th July and the ATO by 14th August.

2.      The Last GST & BAS of the Financial Year

As you may be aware, April-June BAS is not due until 28th July in the next year. Regardless of the due date of BAS, our team finalises the last quarterly BAS before 14th July to reconcile balances between payslips and BAS. To prepare for the end of the year BAS, the assignments below must be carefully completed:

  • Completing all reconciliation processes for the last quarter BAS will require half a day.
  • Review all quarterly sets of BAS submitted during the financial year to reassure the integrity of your financial data since all adjustments need to be made in the final BAS. This task usually takes half a day.

3.      The Final Review of all Other Accounts

After the big year-end reconciliation processes of Payroll and BAS, our team also reviews every single account in your Trial Balance prior to closing your books. If your business has 50 account codes, for instance, we will need to thoroughly go through all 50 of the accounts. To deal with the sheer volume, the Tailored Accounts team implemented a streamlined process to review every account.

Ultimately, the total hours of required effort tend to rely on a number of factors, such as the size of your books, your accounting software, and the maintenance status of your accounts.

For instance, a small business, with up to five employees and less than $500,000 turnover, would need three hours for the year-end payroll processes, three hours for finalising all sets of BAS, and another six hours for other EOFY tasks. An additional provision of three hours is required for assisting your tax agent or auditor. Accordingly, one-hundred small business clients can be translated into a budget for 1,500 hours (equivalent to 6.5 full-time staff) at a minimum for six weeks prior to EOFY. A hundred medium businesses would be an exponentially larger endeavour!

Now you know why accountants are always so busy at this time of the year.

Fortunately, at Tailored Accounts, we adopt the latest technology to minimise manual reconciliations. Thus, providing you with optimal savings in both time and cost during the EOFY period. With strong attention to detail, the Tailored Accounts team and I have always delivered neat, error-free and presentable reports to more than five-hundred clients since 2008. With EOFY approaching, this is an opportunity to set your financial reporting right by contacting Tailored Accounts today!

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Struggling With Hiring A New Accountant? You're Not The Only One

Author: Tailored Accounts

Research from National Australia Bank (NAB) has found that 1 in 5 Aussies changed their jobs last year and 25% are currently considering leaving their workplace. Additionally, the 5% inflation rate is adding more stress to families, forcing staff to look for better paying jobs.

And, with the end of financial year approaching, it is likely that you are one of many businesses struggling to hire the right staff for your Accounting Team. This is the time of the year Government Departments start opening up job vacancies and similarly, many accounting practices will also be gathering their resources for EOFY. 

With pressure coming from all sides, this can be a big headache for SMEs and small not-for-profit organisations, not only will you be forced to find good-quality staff in such a competitive environment but also be forced to account for the associated business disruption and cost!

Businesses may be forced to make do with what they have and do the accounting themselves, leaving themselves vulnerable to at best, delegating long hours to an accounting task that trained accountants could easily complete in a much shorter period, or at worse, making costly mistakes.

As an alternative, businesses could try finding a new accountant through a recruitment agency. But, as a consequence, business owners or managers would be forced to go through the whole process, from selecting the candidate, interviewing, on-boarding, training, retaining, termination & handover. This traditional way of recruiting your Accounting Team seems to not only be time-consuming but extremely costly! Neither option is ideal. Fortunately, there is a much smarter, efficient, and cost-effective way to hire your Accountant.

Our solution: Tailored Accounts will be your fully functioned Account Department, providing you with full solutions ranging from: Data entries, bookkeeping, payroll, AR, AP, Reporting, and Reconciliation to CFO. The benefits of this innovative model are:

  • Continuity of services is our strength. As we have a big team to handle high numbers of jobs and commitments. Collaboration between different tiers of our services will give you a fully functional Account Department worthy of any large corporation at only a fraction of the cost!
  • 100% qualified accountants, we provide our staff with professional training programs on monthly basis to keep them updated with the latest policies, trends, and technology. 
  • The best Quality Management System, built in alignment with our procedures & processes to maintain the high integrity & reliability of our work. As we deal with high volume & value transactions on a daily basis, quality assurance is our top priority. Currently, we have over 500 business customers, processing over 1000 payrolls per week and transacting over $300 million per year on behalf of our clients.
  • As one of the first to adapt to cloud accounting in 2009, we know that cloud is now the past, and security is the future! Everything that we are doing here is about how to make your secured transactions even more secured!
  • A minimum of 30% cost reduction to your current recruitment model. A well-trained and experienced accountant will cost your business at least $90,000 per year plus superannuation, training, travel expense and other entitled benefits according to the latest labour market rate.

Here at Tailored Accounts, we offer you the chance to reduce your expenditure on accounting services so your budget can be spent on other key areas. Our service commensurately corresponds to your benefits, including:

  • At least 20% less spending on annual accounting costs;
  • Time ownership of a team of accountants and CFO with our flat fee for at least 20 hours per week;
  • Free of charge for End Of Financial Year work; including Payment Summaries, Tax return and audit preparation.

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EOFY 2022: Important End Of Financial Year Dates

Author: Tailored Accounts

It's nearing the end of the financial year. And because EOFY is always a hectic time of the year, Tailored Accounts would like to save you some time by sharing some important dates to be aware of so you can get ahead of the game. 

Super Contributions

To be eligible for a tax deduction in the current Financial year, your final superannuation guarantee payment for EOFY should be made 7-10 days before 25th June (allow for delays) to ensure that super funds receive the contributions by 30th June.

Salary Sacrifice Super payment will happen on the same date to ensure that the salary sacrifice super contribution appears in this financial year’s payment summary.

If your Super is being managed by Tailored Accounts, all the deadlines will be met so there won’t be any hassle for you! Super reports and reminders will be sent out well in advance so that you will have sufficient time to review and make super payments before the deadline.

Make sure you are aware of the following rules:

  • The concessional contribution cap is $27,500 for all individuals regardless of age for this income year.
  • Concessional contributions include employer contributions (including contributions made under a salary sacrifice arrangement) and employee personal contributions claimed as a tax deduction

Single Touch Payroll (STP) Submission & Reconciliation

If you are managing your own payroll, you will need to have STP ready for employees by 14th July and the ATO by 14th August.

Tailored Accounts will be preparing STP on behalf of our clients and submitting them to the ATO. We will submit STP to the ATO by 14th August via STP enable software. Your payroll summary (which used to be called payment summaries) will automatically show up in your MyGov's ATO section.

Final Business Activity Statements for this FY

April – June BAS is not due until 28th July or 25th August if you are using BAS/Tax Agent to lodge online. Tailored Accounts will be asking our clients to send us the quarterly paperwork a few days after 1st July. This will help us with End of Year reconciliation and ensure that your BASs are complete before the due date.

Thank you for entrusting Tailored Accounts with your EOFY services – We guarantee that 100% of your payment summaries are completed before the 14th July due date!

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EOFY 2021 – Final Reminder Superannuation Contributions

The end of the 2020-2021 financial year is nearly here.  This is a reminder about getting a tax deduction in the current financial year for superannuation contributions.

Generally, to get a tax deduction for a superannuation contribution for your employee, the superannuation fund must have received the payment by 30 June.  Making the payment before 1 July will not guarantee that this has happened.

If you want to get a tax deduction for the contributions, make sure they are paid well before 1 July 2021 so there is time for the money to be received by your employees’ superannuation funds.  Otherwise, the deduction will have to be claimed in the year ending 30 June 2022.

There is a slightly different position if you use the ATO’s Small Business Superannuation Clearing House (“SBSCH”).   If you make the superannuation contributions to the SBSCH on or before close of business on 30 June, the ATO will consider that the payment has been received by the employees’ superannuation funds and you will get a tax deduction.  This concession only applies to the SBSCH and not other clearing houses.

Also, please remember that the super contribution rate increases to 10% from 1 July 2021.  Payments of wages on or after this date will be subject to this superannuation contribution rate, even if some of the wages have been earned in the current financial year.

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End Of Financial Year 2021 Tips For Managers and Business Owners

Author: Harry Hoang CPA | CEO of Tailored Accounts

End of financial year can be a stressful time for executives and business owners. But think of it this way—you’re running a marathon, it’s not far from the finish line, you just need to push through to achieve your personal and business goals. Here’s a quick checklist to help you get your financial affairs in order before the 30 June deadline. 

  • Undertake analysis - To see if you will achieve your budget in the last quarter. If you haven’t made budget, consider what you can do? Cut costs? Improve sales? Or lower your expectations?
  • Review your financial performance from July to end of financial year - The best report in any accounting software is multiple period profit and loss. This report compares monthly performance so you can see which month is the best and which one is the worst. It also helps you to monitor recurring costs and highlights if costs have spiraled in any particular month.
  • Cash is king - Review your cash flow to include big ticket items so you don’t get any surprises towards the end of the financial year. Make sure your cash flow includes last quarterly BAS; last quarterly super; FBT; company tax return; personal tax return; accounting and/or auditing costs.
  • Revisit your business plan - Review or prepare your business plan for the next year and 5 years.

Last but not least, pay attention to these critical due dates:

  • 21 June - Lodge and pay May 2021 Business Activity Statement (BAS) if you pay monthly.
  • 23 June - Payments for super guarantee contributions should be made on this day.
  • 30 June - Super guarantee contributions must be received by your employees' fund by this date to qualify for a tax deduction in the 2020–21 financial year.
  • 1 July - Sole traders can lodge your individual tax return from this day until 31 October if you're preparing it yourself.
  • 1 July - The minimum super contribution rate on ordinary times earnings paid to your employees is to increase from $9.5% to 10%. If your payroll system is not a computer-based software package, you will need to make the calculations yourself. Do you want your business to fund the increase in contributions? Or do you want your employees to fund the increase, thus lowering the take-home pay of your employees? You may need to obtain legal advice on your employee's employment contracts.
  • 14 July - STP finalisation is due to be lodged.

It is important that you should arrange an appointment with your accounting advisors. EOFY period is a great time to review your business performance and financial goals. Make an appointment with your accountants to discuss what could be done better in a new FY. At Tailored Accounts, our team of accounting and tax agent professionals are ready to help you achieve your goals. Contact us today for accounting and compliance assistance. 

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End of Financial Year Tax Tips For Individuals 2019-2020

The following tax planning measures should be considered in respect to your own individual circumstances. For specific guidance please refer to the ATO website or consult your Tailored Accounts accountants.

End-Of-Financial-Year Tax preparation often seems a bit daunting for many people. The COVID-19 outbreak this year has generated a range of impacts on the community and individual well-being. Tailored Accounts will help you overcome the burden of individual tax return complexities. The following tips provide a comprehensive list of important items for your coming tax return.

  • Salary Sacrifice Arrangements

If employed, you may wish to review your remuneration arrangements with your employer and forego future gross salary in return for receiving exempt or concessionally taxed fringe benefits and/or making additional superannuation contributions under a valid salary sacrifice arrangement.

Please review your contributions including Superannuation Guarantee (SG) and Salary Sacrifice to assess whether you have over/under contributed. It is now a good time to adjust your contributions.

  • Additional Superannuation Contributions

Voluntary superannuation contributions would help grow your super balance quicker and reduce your personal tax liabilities.

  • Work-Related Deductions

For employees who are working from home during the period 1 March to 30 June 2020, the ATO is allowing a temporary simplified method of calculating deductions for additional running expenses. There are 3 alternatives including:

  1. 80 cents per hour for all additional running expenses incurred after 1 March 2020 until 30 June 2020; or
  2. 52 cents per work hour for heating, cooling, lighting, cleaning and the decline in value of office furniture, plus the work-related portion of phone and internet expenses, computer consumables, stationery and the decline in value of a computer, laptop or similar device; or
  3. The actual work-related portion of all running expenses, which will need to be calculated on a reasonable basis.
  • First Home Super Saver (FHSS) Scheme

The FHSS scheme essentially allows an individual to make additional voluntary salary sacrificed superannuation contributions or after-tax contributions to a complying superannuation fund from 1 July 2017 up to a maximum amount of up to $15,000 per year (and $30,000 in total) which can be withdrawn to help finance a first home deposit from 1 July 2018. In addition, where the buyer’s partner also has never owned real property, the couple can effectively withdraw an amount of up to $60,000 to jointly fund a home deposit.

  • Early Access To Your Superannuation

You may be able to withdraw up to $10,000 from your superannuation balance in Financial Year 2019/20 and a further $10,000 in 2020/21. You do not need to declare those amounts in your tax return, in other words, they are tax-free. In order to be eligible, you must pass one of the following tests:

  1. You are unemployed; or
  2. You are eligible to receive a JobSeeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance; or
  3. On or after 1 January 2020:
  • You were made redundant; or
  • Your working hours were reduced by 20 per cent or more; or
  • If you are a sole trader and your business you suspended or there was a reduction in your turnover of 20 per cent or more. 

If you are unsure of your current tax status or need assistance and advice for your EOFY preparation, please contact Tailored Accounts for a 20-minute of free consultation. Alternatively, you can access the Tailored Accounts - Sharing Is Caring Page for a free download of an individual cashflow assessment plan. 

Tailored Accounts - Sharing Is Caring Page

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End of Financial Year Tax Tips For Business Owners 2019-2020

This information is intended as general guidance only.  For specific guidance please refer to the ATO website or consult your Tailored Accounts accountants.

Uncertainty about the continuing spread of the noble coronavirus makes people fear for their health and their lives. If you are doing business in one of the industries, which are most susceptible to health and economic problems, such as tourism, food services, retail, or healthcare, the pandemic has struck your disproportionately hard. Under high uncertainty, funding and immediate government grants have been made available for eligible businesses to navigate the road to recovery. This End-Of-Financial Year Tax Tips will help you reach out and effectively leverage a range of existing support measures for business survival and growth.

Covid-19 Stimulus Measures

The government released a number of economic measures in response to COVID-19. Some of them may impact your FY 2020 tax return. 

  • Enhancing the instant asset write-off

The cost threshold for which entities can access an immediate deduction for depreciating assets and certain related expenditure has been increased from $30,000 to $150,000 for the period 12 March 2020 to 31 December 2020. The turnover threshold of businesses eligible for the instant asset write-off during this period has also been increased to include businesses with an annual turnover of less than $500 million (up from the existing cap of $50 million).

  • Backing business investment

Entities with an aggregated turnover of less than $500 million in an income year who do not use the simplified depreciation rules for small business may be eligible for accelerated depreciation if the entity starts to hold the asset and the asset was first used or installed ready for use for taxable purposes between 12 March 2020 and 30 June 2021.

The tax implication on received stimulus payments:

  • The Cashflow boost you have received will be treated as non-assessable, non-exempt income and is therefore not taxable to the entity. However, JobKeeper payments received are assessable income of the entity. Deductions for payments to employees are available provided the general requirements for deductibility are satisfied.

Other tax-saving tips

  • Super Contribution

All contributions which are required to be received by the superfunds by 30 June 2020 need to be scheduled for payment within ClickSuper by 4 PM AEST on Monday, 24 June 2020.  Superannuation contributions paid after this date may or may not be received by the superannuation fund by 30 June 2020. 

  • Review your Debtors

Review your aged receivables and write off any recoverable debts before 30 June 2020. The bad debt written off can be claimed as a tax deduction for the 2020 financial year. 

  • Pre-pay your expenses

Small business entities may be able to prepay expenses and claim an immediate deduction in the financial year in which they are paid. 

  • Trust resolution

Document and sign the trust distribution resolutions before 30 June 2020.

JobKeeper tips

If your business was not eligible for the JobKeeper grant during the March-May period, it is recommended to re-assess your JobKeeper eligibility for the period of June-August. 

Tailored Accounts is committed to supporting businesses during this critical time. Please contact us for JobKeeper, EOFY, Tax and Advice supports. Our expertise and experience will put your business in the best possible position for sustainable success. 

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End Of Financial Year 2018: Get ahead of the game with Tailored Accounts

It's nearing end of financial year 2018. And because it’s super busy, Tailored Accounts would like to save your time by sharing some important dates in preparation for FY 17-18.

Super contributions

To be eligible for tax deduction in the current Financial year, your final superannuation guarantee payment for FY 17-18 should be made 7-10 days before 30 June 2018 (allow for delays) to ensure that super funds receive the contributions by 30 June 2018.

Salary Sacrifice Super payment will happen on the same date to ensure that the salary sacrifice super contribution appears in this financial year’s payment summary.

If your Super is being managed by Tailored Accounts, all the deadlines will be met so there won’t be any hassles! Super reports and reminders will be sent out well in advance so that you will have sufficient time to review and make super payments before the deadline.

Make sure you are aware of the following rules:

  • The concessional contribution cap is $25,000 for all the individuals regardless of age for this income year 2017-18.
  • Concessional contributions include employer contributions (including contributions made under a salary sacrifice arrangement) and employee personal contributions claimed as a tax deduction

Payment Summaries

Tailored Accounts will be preparing Payment Summaries on behalf of our clients and submit them to the ATO. By 14 July 2018, your employees should receive their payments summaries from our team. We will send payment summary annual report to the ATO by 14 August 2018.

If you are managing your own payroll, you will also need to have Payment Summaries ready for employees by 14 July 2018 and the ATO by 14 August 2018.

Final Business Activity Statements for FY 17 - 18

April – June 2018 BAS is not due until the 28 July 2018. Tailored Accounts will be asking our clients to send us the quarterly paperwork few days after 1 July 2018. This will help us with End of Year reconciliation and ensure that your BASs are complete before the due date.

Thank you for entrusting Tailored Accounts for your EOFY services – We guarantee 100 percent of your payment summaries are completed before the due date 14 July!

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Essential Tasks at End of Financial Year (EOFY)

End of the financial year is an important and busy time for small business owners, completing bookkeeping, tax returns and begin planning for the new financial year. Putting the hard work in each financial year can help you get your business organised and work smarter in the year ahead.

 End of financial year 2016

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5 end of financial year tips for small businesses

If you are a small business, it is highly likely that you need to do everything to manage your business, from administration, marketing to bookkeeping. It is running well and you believe you are able to manage it until the end of financial year approaches. One client shared with us that EOFY used to be her nightmare and she was always lost with massive paperwork. 

End of financial year bookkeeping tips 

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