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Our best bookkeeping tips and free advice to help increase the success of your business.
What to outsource as your business grows
A growing business is a fantastic problem to have, as many business owners will say in jest. However as your business grows, so does your administration, premises, inventory, employees - and the demands on your time. Take stock and begin to put your finger on what you...

How to avoid one of the biggest Xero mistakes – chart of accounts
Depending on what type of business you’re in - perhaps you sell jam, rope, or expertise (perhaps all three!) - your chart of accounts that Xero presents you with when you fire it up for the first time is vital to keeping your bookkeeping, tax accounting, payroll and...

Super savers: paying yourself, your employees, and your superannuation
As a business owner, do you pay yourself? You may be staring blank at that question, but it’s something you need to be across. As bookkeepers and accountants, we can make the mental leap from “our business” to “someone who works in the business” as a matter of course...

New Year’s Reconciliations: Best practices for reconciling bank accounts in Xero
Happy New Year! The beginning of the year is often the best time to get your bank accounts and reconciliations sorted. Invoices and receipts may be few and far between, especially if you’re a sole trader and your accounting or bookkeeping needs are minimal. If you...

The dreaded ATO audit – your questions answered
As a bookkeeper, my clients and friends often ask, “does the ATO check every transaction? Is there a rhyme or reason to why a business gets audited?” I often reply in my own cheeky way - why do birds suddenly appear? Bringing things down to earth, the ATO doesn’t...

Which business receipts should I keep as part of my bookkeeping?
If you are in business, you may already be in the habit of keeping receipts. If you use Dext or something similar as part of your bookkeeping, receipts and invoices may already be integrated into your Xero. The conventional wisdom for keeping receipts is that if you...

Is it time to start using Xero tracking categories in your business?
If your business uses Xero Projects, you already know it’s a time saver and fantastic at keeping your accounts organised and in order. But you might find it helpful to take your record-keeping to the next level with Xero’s tracking categories. Will using Xero tracking...

Why low prices are a freelancer trap, and how to not fall into it
Pricing your services can be a tricky business, especially when you’re starting out. But at Dollars + Sense, one trap we see freelancers falling into repeatedly is pricing themselves too low. How low is too low? Let’s take a client of ours as an example: Joe was a...

When is the right time to start using accounting software?
If you’re just starting out in business, you might be tempted to skip the accounting software and just use an Excel spreadsheet to keep track of your accounts. Maybe you’ve only got two or three clients and not many overheads so it’s all pretty straightforward, but...

The surprising way your bookkeeper can help you in your business
At Dollars and Sense, we help small businesses with their bookkeeping services every day. That’s what you’d expect, right? But sometimes there are intangibles that add value to your business that you might not expect – factors that help you in ways you didn’t even...
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Need bookkeeping help or advice? Just pick up the phone. We’re on call whether you’re looking for a quick fuss-free clean up, XERO accounting software set-up and training, a general helping hand, or full-stack bookkeeping and business consulting. Save time, save money, lose the overwhelm and get back to growing your business…that makes sense.
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