The GST was introduced on 1 July 2000, yet there are many errors and omissions being made by small businesses on their GST returns. SB Bookkeeping ensures all transactions are correctly categorized. Below are some of the more common GST mistakes:
SB Bookkeeping provides onsite bookkeeping services in Perth. If you would like to talk to us about becoming your Bookkeeping department then Contact Us Now.
Case study to explain the hidden cost of employment:
While these apply to all aspects of employment within your company, it demonstrates why it is worth looking at areas within your company which may be suited to outsourcing to a specialist provider. One of these areas is Bookkeeping Services. At SB Bookkeeping we can surely help, Contact Us Now.
If you are using Xero Software for your Accounting, depending on your Industry there might be few additional features that can be added on to your Xero Software by adding add ons to your software which can eventually save a lot of stress, time and costs, there might be situations when you are Using the wrong Accounting software for your Organization and just by making a change you could save $000’. Please see below the
One of our many Happy Clients, Churches of Christ In WA have been using QuickBooks Desktop Version for their Accounts, recently we came up with the suggestion of Changing over from QuickBooks Desktop Version to Xero Online Platform, by switching over to the online Platform we managed to link their Accounting with the Bank, where their Bank sends all the information to their Online Accounting Software which eventually helped us to save around 25% of their Bookkeeping Costs, and this way we managed to make a win-win situation where we don’t need to travel to their place for Bookkeeping Service as it can be done remotely and they were happy because it is going to save them around 25% in their Bookkeeping Costs, so everyone wins.
You need to convince your lender that your business is a low risk for them while choosing source of finance. To do this you must be able to explain your business model and represent strengths professionally in the form of a business plan.
You should provide a background of both your business and your personal experience and qualifications. Then give your view on the direction of your business and the industry you operate in.
You will need to provide current financial statements. If they are older than 3 months an interim set of financials signed off by a CPA can be helpful.
Be confident, prepared and share your enthusiasm about the future of your business with the lender. Your attitude, approach and commitment to the long term business goals of your company will help establish you as a sought after customer.
One of the first things we at SB Bookkeeping do is, when we get a new client is to perform an audit on the client’s current bookkeeping systems. We check if there are areas where we can implement efficiencies within the bookkeeping process. In nearly all cases, SB Bookkeeping is able to reduce the number of hours required to perform the role.
XERO, MYOB and QuickBooks now dominate the SME market for bookkeeping and accounting software. If you use jobs within MYOB to report on the profitability of different profit centers within MYOB, you will find that there are some limitations with setting budgets for these different profit centers.
Money Manager overcomes these limitations and allows you to set detailed budgets for all of your profit centers and then consolidate them to form the company budget. Money Manager also provides a fantastic cash flow forecasting tool. It integrates with your MYOB data file to combine your actual YTD result with your latest forecast in Money Manager to produce cash flow forecasts years in advance. Not only is this a great management tool but banks love it if you need to apply for finance.