Many business owners don’t give bookkeeping the attention it deserves. After all, it’s just keeping track of the money coming in and going out, right? But if you want your business to be successful, bookkeeping is key. Bookkeeping is the backbone of any business, small or large, and it provides critical financial information that businesses … Read more
The world of accounting is changing. And it’s all thanks to blockchain. Yes, that’s right. The same technology that powers Bitcoin is now being used to revolutionise how businesses keep track of their finances, and accountants must adapt to reap the benefits of this innovative new technology. What is blockchain? To understand how blockchain is … 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
No one knows what the future holds, but one thing is for sure – it’s essential to plan for it. Business owners often underestimate the importance of having a succession plan. There will come a time when a business owner will need to prepare their business for new owners or leaders when selling, retiring or … Read more
Six common bookkeeping mistakes to avoid We highlight the most common mistakes made by SMEs that need to be avoided to ensure the success of their business. With the increase complexity of accounting, compliance and bookkeeping processes, business owners juggle to keep their business profitable. During these challenging times especially, it’s easy to understand where … Read more