BAS Agent’s Blog

Why We Love the Cloud

Here at e-BAS Accounts we have embraced the concept of operating our business via the cloud. In short, we love the cloud! So what is the cloud and why do we love it?

The cloud is the current term currently being thrown around meaning “all things online”. Basically, any software you might access on your desktop or laptop, you can now access online. Okay, so why do we love it?

There are 5 reasons why we love the cloud:

1. Accessibility: The applications we use in our business are available to us on any computer, anywhere, and anytime as long as there is an internet connection available. This means we are no longer tied to our office for the purposes of accessing information. We can now access emails, accounts information, our favourite apps, etc. anytime and anywhere. Our office is now completely mobile. If we want to work on the beach at Torquay we can; if we want to sit in the park on a sunny day and process client accounts, we can; if we want to access our emails while travelling on a train, we can. You get the picture 🙂

2. It’s Cheap: Cloud applications are generally cost-effective. We can usually try an application out for free for a short period and then agree to pay a low monthly fee to continue to use the service. What’s more, we can opt-out at any time we like if we find an application better suited to our needs. It means we can operate our business on a relatively low budget, accessing some of the best and most useful applications currently available.

3. It’s Always Current: The applications we use are always up to date. No longer do we have to purchase upgrades to our desktop software. Upgrades are taken care of in the background by the cloud providers. We will never have to worry about this and what’s more, it’s part of the monthly fees we pay – it’s not extra so no ugly surprises.

4. Security & Backups: Cloud providers build their products with your data security being of the utmost importance. The same security levels we enjoy when using online banking are often used for cloud applications. We believe that is more secure to place your data into the cloud than it is to leave it on your desktop or laptop. Why? Because using the cloud is like having a continuous backup system in place. Your data is always there – it can’t be destroyed by fire, theft or flood; it can’t be corrupted or lost by computer malfunction; it can’t be accessed and altered by unauthorised staff members, etc. To keep your data totally secure, you must keep it off site and there is no site more off-site than the cloud!

5. Working Remotely: Cloud applications allow us to work remotely with our clients whether they be 5 km or 500 km away. Here are some of the applications we use here at e-BAS Accounts which make working remotely possible:

  • Go To Meeting: Allows us to hold meetings with clients no matter where they live
  • Saasu and Xero: Online accounting software which eliminates the need to send data files to and from clients/accountants and/or worry that those files are current or possibly corrupt etc.
  • TeamworkPM: Our project management platform
  • Dropbox: For file sharing and backup with clients
  • Office 365 and Google Apps: Make the mobile office a reality
  • Twitter, Facebook and Linkedin: Part of our current marketing strategy; networking strategy; learning strategy

The cloud is central to our business mission here at e-BAS Accounts – to enhance flexibility, collaboration, and efficiency by working remotely with clients and team members; we do this by primarily using online apps via the cloud. The cloud has basically made our little business possible. We believe it is the way of the future office and far better than the alternative.

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BAS & Bookkeeping Services – Aren’t They the Same Thing?

If you want to be a bookkeeper in today’s environment and abide by the Tax Agent Services Act 2009, you will need to ask yourself a question: What sorts of services do I want to provide to my clients?

If the answer includes:

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Common GST Mistakes

GST Mistakes

When you’re completing your activity statements, it’s easy to make mistakes. It happens a lot and we see them first hand here at e-BAS Accounts. The main mistakes users make are in relation to tax codes. Users often use the wrong tax code when entering various transactions into their software. Here are some common transactions that are often coded incorrectly. We show the correct tax code application:

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Taxable payments annual report (TPAR) to include 3 more industries – road freight, IT & security

The ATO has announced that those businesses providing services in the following 3 industries will be caught in the “TPAR net” from 1st July 2019.

  • Road freight services
  • Information technology services
  • Security, investigation or surveillance services

From 1st July 2019, businesses in the above 3 industries will need to track payments made to contractors they use to provide their services. Then, they will need to report these payments in their first TPAR which will be due for lodgement by 28th August 2020.

Read more from the ATO about this here.

Note, the ATO has also included cleaning and courier services in the TPAR program, beginning 1st July 2018.

If your business in included in any of the above industries and you think you will need help setting up tracking payments to contractors in your chosen accounting software and/or lodging the TPAR, please don’t hesitate to get in contact with us.

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Long Service Leave changes for Victoria November 2018

The new Long Service Leave Act 2018 for Victoria was activated on 1st November 2018. Employees in Victoria who were previously covered by the Long Service Leave Act 1992, can now enjoy several improvements regarding this leave entitlement. These improvements are discussed in this blog.

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Cleaners & Couriers now required to lodge a Taxable Payments Annual Report

The ATO has now confirmed that those who run a courier and/or cleaning business must lodge a Taxable Payments Annual Report (TPAR) from 1 July 2018.

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Meal entertainment: when does GST apply?

The area of “meal entertainment” is an absolute minefield for accounting professionals like us. It can be very difficult to know when an expense incurred by a client relating to food or drink should be recorded with GST or not. Luckily there is a resource out there via the ATO that brings some clarity to the situation.

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Cyber Security: How we protect your data

Earlier this year, we were approached by a company called Practice Protect which is a platform that provides accountants and bookkeepers with 24/7 cloud data security. I had been concerned/worried about data security (mainly client data) for some time and when Practice Protect called me, I immediately became interested. Here was a ready-made program on offer that gives accounting professionals the opportunity to protect their clients’ data (and their own) via an easy-to-use app. Needless to say, I did end up adopting this app and we now use it in our practice. After some training and set up procedures, I am proud to say that we are a Practice Protect Cloud Best Practice. But why did we do this and how does it work exactly?

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