Essential Business Planning for Small Business Owners
With the start of a new financial year, now is the perfect time for small business owners to focus on business planning. This time of year offers a chance to review past performance and set new goals to drive your business forward.
Effective Bookkeeping Strategies for Small Business Success
Effective Bookkeeping Strategies for Small Business Success. Bookkeeping is an essential part of running a business. In this blog, I will provide tips to help you streamline your bookkeeping, allowing you to focus more on growing your business and less on managing the numbers.
Cash vs Accrual Accounting Methods Explained
As a business owner, the way you monitor your business’s finances is fundamental. One key decision you will have to make is to choose between two accounting methods: cash basis or accrual basis.
In this blog, we will explain the two methods and the important implications of selecting the right one for your business.
Mastering Bookkeeping Tasks: A Complete Guide for Australian Business Owners
Maintaining accurate financial records and implementing effective bookkeeping processes is extremely important for small business owners. In this article, we will explore the significance of having structured bookkeeping processes in place, break down essential bookkeeping tasks by frequency, and provide practical tips to streamline your bookkeeping operations.
GST basics for Australian businesses
This article aims to provide you with a fundamental understanding of Goods and Services Tax (GST) is Australia and your responsibilities as an Australian business owner.
ABN obligations and responsibilities
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.
3 Most Important Business Financial Reports
Understanding financial reports is a fundamental skill for business owners for effective business management and financial success.
Common Bookkeeping Terms Explained
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
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
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.