Tag: Accounting

No matter the size of your business, if you’re offering credit to your customers it’s highly likely at some point you will do work for a customer who will blatantly refuse to pay.

If you think that bookkeeping and accounting fees are high, consider this horror story, which could be the one tale that gets business owners thinking about their own business.

A business with good systems in place will know when a cash crunch is coming and will be ready for it. Unfortunately, most SMEs are not as well organised and, when a problem occurs, it tends to hit them right between the eyes.

Australian firms need to ensure payroll systems are up-to-date and supported by providers ahead of looming SuperStream deadlines.

Your organisation may be making sales left and right, but if you’re not collecting funds from these transactions, you may find yourself with insufficient cash during critical periods.

You can be swayed thinking that your new customer is going to be one of your best – so, really, is there that much risk in providing them some credit? You have crosschecked the credit application against an ASIC search and there are no discrepancies – so what could go wrong?

A good invoice is your first step to making sure you get paid. Issuing an invoice should be the first thing you do after you have supplied your goods or service. Here’s what your invoice should contain…

One of the keys to shake-up your business in the new financial year is to keep your records up to date. Doing this increases your business’ value, provides easier access to finance and allows a better insight into how you are performing. Business policy advisor at CPA Australia, Gavan Ord, told Dynamic Business that too […]

Did you know you can claim for cleaning costs and wear-and-tear on your furniture at your home business?

A change to the Australian Accounting Standards is on the way, and once finalised will likely see all of a business’ leases accounted for on balance sheet.