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...
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,...
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...
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...
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...
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...
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