There’s much more to running a business than just coming up with ideas and putting them into action. There is also the financial side of things, including bookkeeping and accounting. Many businesses rely on a professional bookkeeper or accountant to handle their finances, but what exactly does an accountant and bookkeeper do? What’s the difference … Read more
As a business owner, you need to be prepared for anything- including high inflation. As we grapple with the aftermath of the pandemic, business owners globally are feeling the effects of inflation, and Australian business owners are no different. Australia is currently experiencing 6.1% inflation (for June Quarter 2022), the fastest annual increase seen in … Read more
If you’re like most business owners, you’re always looking for ways to make your company more efficient and profitable. Businesses of all sizes are increasingly using AI to improve their business processes, especially their accounting and bookkeeping functions. This is because AI has a lot of advantages over traditional methods, such as being able to … Read more
Understand Tax record-keeping requirements in Australia It’s essential to keep accurate records of your income and expenses throughout the financial year. This will make meeting your tax obligations much easier when the time comes. The ATO requires that you keep records for a minimum of five years, so it’s a good idea to set up … Read more
As an accountant, one of the most important ways to help your clients achieve business success is by developing robust financial forecasts. Financial forecasting is the process of estimating the future financial performance of a business by using past financial data, current trends, and economic conditions, and combining this with financial modelling to determine predictions … Read more