What does corona virus package mean to you

What the Coronavirus Stimulus Package means for you!

What the Coronavirus Stimulus Package means for you It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home here in Australia, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures, most targeted at helping small to medium-sized businesses. Here to help But first, please be assured that we are here to help you whether  the global issues that the Coronavirus pandemic raises. We’re very aware that your family, staff and business needs are top priority. If you would like to… Read More

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4 Tips for Getting your Business through the tough times!

4 Tips for getting your Business through the tough times! If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. It’s highly likely that the Coronavirus and it’s resulting impacts, could put some significant pressure on your business. Here are four tips for getting your business through difficult periods so you can look forward years of business ownership. 1: Focus on your existing customers When companies go… Read More

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JobKeeper

Covid-19 JobKeeper Alternative Eligibility Tests

JobKeeper Alternative Eligibility Tests The ATO has just released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test This is good news for many businesses, particularly startups, those affected by last year’s droughts and those with variable revenues. The JobKeeper payments are a wage subsidy for employers during  Covid-19,part of the Australian Federal Government Stimulus More information on ATO website : https://www.ato.gov.au/General/JobKeeper-Payment/ Basic Test If you satisfy the eligibility requirements for the basic test, you can ignore the alternative tests below. The basic test is satisfied where your projected GST turnover for the period falls short of your current GST turnover for the relevant comparison period,… Read More

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Profit and Loss 101: Do you really understand your P & L?

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 focus on i.e. opportunities for increasing revenue and/or decreasing costs. Naturally, when you work closely with your BAS Agent, you have the peace of mind knowing that this is created accurately, however, as a business owner, it is also useful to know how to interpret this fundamental statement. This blog is your profit and loss 101 training document. Our aim to provide an… Read More

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Stop chasing late payments with this handy new tool

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 default message in QuickBooks Online to suit your business’s tone of voice. We suggest using something like this: “Just a reminder that we have not received a payment for this invoice yet. Please pay this immediately or, if you have any questions, please call us to discuss. Thanks for your business!” Options to send the… Read More

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Five Essential Bookkeeping Tips for Business Owners

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 other crucial accounting details, professional bookkeeping services allow businesses to stay on top of their financial obligations. To assist you with your bookkeeping needs, we’ve compiled five essential tips that will help you with your bookkeeping woes. 1. Using the Right Software – With so many options out there, it is absolutely essential to choose… Read More

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QuickBooks Online is not Reckon and Reckon is not QuickBooks Online.

Prior to 2014, in Australia, QuickBooks was a desktop accounting and bookkeeping program republished and distributed licensed by Reckon. Following the release of Intuit’s cloud bookkeeping software in Australia, Reckon’s QuickBooks desktop financial products were renamed Reckon Accounts Personal. Despite the change in name, there is still confusion between the two accounting programs. We’ve heard stories of individuals enrolling in what they thought was QuickBooks Online course only to discover it was in fact on Reckon Accounts instead. It’s for this reason why as a leading expert on QuickBooks Online we started running training sessions exclusively on QBO.

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Get paid quicker thanks to PayPal and QuickBooks Online

Not being paid on time? Constantly having to chase debtors? Then integrating QuickBooks Online with PayPal could be the solution you are after. How does it work? Accept Payments with PayPal is a new app, developed by Intuit in partnership with PayPal, which extends online payment capabilities to your QuickBooks Online account as well as automatically imports data from your PayPal account into QuickBooks Online. The app syncs your PayPal transactions with QuickBooks Online. Once activated, this one-way integration monitors your PayPal accounts for sales, bank transfers, and expense transactions.

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What’s new in the world of QuickBooks Online?

Quickbooks Online is at the forefront of modern technology thanks to its innovative cloud bookkeeping software solutions. Did you know that Quickbooks Online can run on your desktop, tablet and mobile devices? Save time running your business and achieve that work/life balance you deserve Thanks to new updates to the Quickbooks Online app, you can see the same information on your tablet or smartphone as you do on your computer. This means you can do all your invoicing and quotation all from your mobile device.  Why download the app? It is free and available on both Apple and Android devices The interface is similar to the desktop version, ensuring no… Read More

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