ABN obligations and responsibilities

ABN obligations and responsibilities, small business bookkeeping

It is a legal requirement for every Australian business to have an Australian Business Number (ABN).
This article will explain the process and requirements of obtaining an ABN, your obligation as a business owner to maintain your ABN registrations and good practices when it comes to checking your contractors’ and suppliers’ ABN registration.

Common Bookkeeping Terms Explained

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It is often confusing and overwhelming for business owners to get a grip around accounting and bookkeeping terms.

In this article, I will explain the importance of understanding bookkeeping terms and define the most common ones. 

Accounting Software for Sole Traders

business man, officiency, bookkeeping for sole traders

Using an accounting software for your business is the smart way to manage your business’s financials and a smart decision as a business owner no matter how small your business is.

Bank Account for Sole Traders

white piggy bank, money, officiency, bookkeeping for sole traders

Having a seperated bank account for the business is one step in setting up a good foundation for your business.
Here are my reasons why a sole traders should have a seperated bank account for the business.

EOFY Bookkeeping for Sole Traders

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We are now in the last stretch of the financial years, so no better time to make sure your business financial records are up to date.

Home Office Organisation

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An organised workspace is essential for an efficient work environment, increasing productivity and allowing you to focus on your work.