Profit and Loss 101: for your business An income statement (commonly known as a profit and loss statement or your [P&L]), is a critical tool to know as a business owner. It answers the most important question: Is your company profitable? Is it running efficiently? And what opportunities are there in identifying areas to … Continue reading Profit and Loss 101: Do you really understand your P & L?
Chasing invoices can be time-consuming. QuickBooks Online now has the ability to send a reminder for an overdue invoice directly from the Customer Card, with your own tailored default message. The default message can be set from the Reminders section. This is found under the Gear icon > Settings > Company settings > Sales > Reminders. You can change the … Continue reading Stop chasing late payments with this handy new tool
From slow reporting to incorrect figures, tax issues to even fraud, hiring the wrong bookkeeper can be detrimental to your business. We’ve complied three essential questions that you should ask a bookkeeper before hiring them. • How often will the potential bookkeeping service be able to report? In today’s competitive market you need to make … Continue reading Three Vital Questions to Ask Before Hiring a Bookkeeping Service
Five Essential Bookkeeping Tips for Business Owners Maintaining your books is an imperative and essential part of running a business. Despite every business owner knowing this, it is quite easy to feel out of control when it comes to bookkeeping and accounting. By accurately monitoring accounts receivable, payable, profits, expenditures and losses as well as … Continue reading Five Essential Bookkeeping Tips for Business Owners
Why Bookkeeping is Essential for Your Business Bookkeeping policies play a key role in organizing economic life. Be it the public sector or a private company, every activity is assessed and evaluated around its costs, benefits, risks and rewards. Bookkeeping is thus regarded as a communicative discipline: the numbers as such are important means of … Continue reading Bookkeeping Adds Value!
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Like any business, bookkeeping needs to adapt to a changing digital landscape. Technological advances are frequent and bookkeepers must adapt in order to be successful. Back in the day, the introduction of personal computers and digital data would have been life changing. Now, we’re moving from desktops to cloud storage. Software is becoming increasingly mobile … Continue reading The future of Bookkeeping
The future of bookkeeping largely depends on bookkeepers’ attitudes towards change. Technology is only going to advance. There are a few things bookkeepers can do to ensure they remain relevant in the years to come. This comes down to 3 Es: Embrace, Expand, and Educate.
As a featured writer for Intuit Australia, we are pleased to share tips and tricks with you on how to manage your QuickBooks Online more efficiently.
Being able to grow your business so that it requires GST registration is a great achievement. It does however bring some complications, things that you need to be aware of to ensure you handle your GST requirements effectively.