📍 Business advisory is the conversations and the analytics that come from your financial reporting. I want to talk about business advisory and what it is for your business. 📍 Business advisory is when you take your good quality data, your reports, You may produce different reports which aren't stock standard in your Xero file [...]
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📍 Don't start talking to your accountant when you're in a hole. Have an open, honest relationship with your accountant. I see it time and time again, it's frustrating. Business owners only call their accountant when they need help. It's the wrong approach. It's best to have an ongoing relationship with your accountant where you [...]
As a business owner, you have many responsibilities. Among them is managing your employees' payroll and ensuring that they receive the proper compensation for their hard work. However, not all businesses have the luxury of having a dedicated payroll department or an experienced accountant on staff. Often, businesses delegate this task to their administrative team. [...]
The Importance of Data Integrity in Your Xero File Are you confident in the accuracy and reliability of the data in your Xero file? In this blog, we'll explore the concept of data integrity and why it is crucial for your business. Data integrity goes beyond just AI or bank reconciliations; it's about having peace [...]
Why Lawyers MUST Get Payroll Right! Listen up, lawyers. Don't get your admin team to do your payroll. They're not qualified. I'm not being rude, but they're not qualified. Payroll is important, it's law, it's employment law. There's a lot of details to know. Most importantly, though, you don't want to get your payroll wrong. [...]
Understanding Profit Margin and Its Impact on Your Business As a savvy business owner, one of the most crucial aspects of your profit and loss statement is your profit margin. In this blog, we'll delve into the top section of your profit and loss statement, where your income and cost of goods are reported. We'll [...]
Effective from the 1st July 2023, employee superannuation will increase to 11%. This is a 0.5% increase. Your electronic payroll software should be able to automatically make this adjustment, provided you have set it up properly. Let us know if we can help with this process. Superannuation will continue to increase an additional 0.5% to [...]
WHAT IS STP PHASE 2? In the 2019–20 Federal Budget, the Government announced that Single Touch Payroll (STP) would be expanded to include additional information. Under Single Touch Payroll Phase 2, the Australian Government will require all employers to report additional information through STP on or before each payday. This information will include details such [...]
Instead of using .com.au, businesses can now register for .au domains. There is a bit of hype at the moment about these new .au domains, so read into at your own leisure.
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