Business Topics

How to pay your bookkeeper much less

BAS Agent's Blog, Bookkeeping, Business Topics / By / / , , , / 4 minutes of reading

Does your bookkeeper charge you an arm and a leg for his/her services? Are you sick of receiving bookkeeping bills that make your stomach turn and steam come out of your ears? Never fear, there is a way to pay your bookkeeper much less but still ensure your accounts are kept in tip top shape! The answer lies in the concept of TIME. In short, the more time your bookkeeper has to spend on your books, the more you will pay. Obvious right? So how can you help your bookkeeper save time and in turn save you money? Here are 6 tips to get you started:

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IMHO: 3 Reasons why the GST should be broadened and the rate increased

BAS Agent's Blog, Business Topics, GST & BAS, In My Honest Opinion (IMHO) / By / / , , , , , , / 6 minutes of reading

The Goods and Service Tax (GST) in Australia is now 14 years old and it’s rate and structure have not changed since it was first implemented by the Howard-Costello Government in 2000. A debate is currently brewing among our politicians and industry groups about whether or not the GST should be broadened and/or the rate increased. I for one, am in support of both options and below are my 3 reasons for this support.

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Got a tax debt? Make a payment arrangement!

BAS Agent's Blog, Business Topics, For BAS Agents / By / / , , , , , , / 4 minutes of reading

Recently one of my clients rang me because her business activity debt was very high and she was panicking because she was unable to pay the debt by the due date. I calmly told her to make a payment arrangement with the ATO so she could pay the debt by instalments. My client told me she had never heard of payment arrangements and wasn’t even aware that this payment option existed. I was surprised by this because I thought it was common knowledge. I wondered how many other business owners out there were oblivious to their tax payment options and decided that the best way to educate them would be via a blog, so here goes!

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The bookkeeping behind an asset purchase via a Chattel Mortgage

BAS Agent's Blog, Bookkeeping, Business Topics, GST & BAS / By / / , , , , , / 3 minutes of reading

It is very common for businesses to purchase major assets such as motor vehicles via a loan. They can use a commercial bank loan but often finance is “purchased” by way of either Hire Purchase or a Chattel Mortgage. In this week’s blog we will look at a purchase via Chattel Mortgage agreement and how to post it to the accounts.

Chattel Mortgage

A Chattel Mortgage is a type of loan typically used to purchase motor vehicles or other major business equipment. It is called a “mortgage” because the financier retains the title of the item purchased until the final payment is received. There are several financial benefits of a Chattel Mortgage including:

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How to choose the right accounting software in 5 easy steps

Accounting Software, BAS Agent's Blog, Business Topics / By / / , , , , , / 5 minutes of reading

So you’re at a point in your business journey where you think you might need accounting software. That’s great but how do you choose the software that’s right for your business? Here is an easy-to-follow five-step process to help you make an informed decision.

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5 ways to improve your cash flow

BAS Agent's Blog, Bookkeeping, Business Topics / By / / , , , , / 4 minutes of reading

The number one things that kills most businesses is poor cash flow. Lack of money basically means that your business will struggle to function and if this continues, may even mean you have to close the doors. Luckily there are ways to improve cash flow issues. Read on to find out about 5 ways you can improve your cash flow.

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Remote bookkeeping – how does this work?

BAS Agent's Blog, Bookkeeping, Business Topics / By / / , , , , , / 5 minutes of reading

The other day a potential client rang me and said she was looking at our website and wanted to know how remote bookkeeping worked and more importantly, how it could work for her and her business. I was a little surprised by her questions because I’ve been working remotely or “telecommuting” as it’s been labelled of late, for years now as have many others. I went on to explain how I work and how my clients work with me but I got the feeling that she wasn’t entirely convinced. It made me think that there are probably others out there who don’t quite understand how bookkeeping can be done remotely so I thought I’d write a blog that would help to explain how it all works.

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20 jobs your BAS Agent can do for you!

BAS Agent's Blog, Business Topics, For BAS Agents / By / / , , , , , , / 4 minutes of reading

BAS Agents are now a very important part of the tax compliance landscape. They have been floating around since 2010 when the first group of agents became registered with the Tax Practitioners Board (TPB) after the passing down of TASA 2009. TASA 2009 is legislation that makes it illegal for anyone to charge a fee for providing tax and BAS Services without first being registered. Unfortunately, who BAS Agents are and what they do, has not been widely publicised by the TPB and as a result, many business owners have either never heard of them or certainly aren’t aware of what they do. Today’s blog, therefore, is about educating business owners about what BAS Agents can do for them in terms of their tax compliance and other related tasks. To this end, I have created a list of 20 tasks BAS Agents can do for business owners, of which perhaps they may not be aware. See below:

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Record-keeping – why what and how

BAS Agent's Blog, Bookkeeping, Business Topics / By / / , , / 6 minutes of reading

Do you understand why record-keeping is so important (whether you’re in business or not)? No? Well here is your complete why what and how of record-keeping. Learn why you should do it and exactly which documents you should be keeping in today’s blog! This blog will assist you whether or not you are a business owner.

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