The days leading up to the end of the financial year are crucial and it is usually an extremely busy time for businesses. During this time, It is easy to miss tasks that could affect your business adversely later. This handy step-by-step EOFY checklist will help ensure that you are compliant, prepared and are able to maximise your financial opportunities in the lead up to June 30.
Are you thinking of purchasing assets for your business? Here are some changes to the instant asset write-off that you should know about:
The Australian Taxation Office (ATO) offers small businesses an instant asset write off using the simplified depreciation rules. Assets costing less than the relevant instant asset write-off threshold can be written off in the year they are first used or installed ready-for-use. This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.
Now, at the push of a button, you can import your bank and credit card
transactions into MYOB Advanced, making reconciliation a breeze.
MYOB Advanced is connected to MYOB’s leading bank feeds service, linking
you with Australia and New Zealand’s leading financial institutions, at no extra
Winning tenders involves more than just wrapping up a price on a nice cover. By approaching tendering in a strategic way, you will dramatically increase your chances of success. First, ask yourself: do you have a good chance of winning? First, ask yourself: do you have a good chance of winning? Look at the number of bidders, the strength of the competitors, and the strength of your competitive position/offer. If you decide to proceed based on this assessment, you will need to put together a submission that reflects these assessed outcomes.
Traditionally, invoices are processed and approved manually which is time-consuming, error-prone and obscure, plus you do not have any visibility of where invoices are in the approval process or what outstanding liabilities are involved. Appropriate automation of your accounts payable workflow will save you time and effort that can be channelled into more important areas of running your business and is also a much more cost-effective approach.
STP reporting started gradually on 1 July 2018 for substantial employers (those with 20 or more employees) and is now extending to include employers with 19 or less employees. Starting from the 1st of July 2019, all businesses will be required to be STP complaint.
In this blog, Jason Brown, our IT business partner from Lakes Networking, spoke to us about a rapidly exploding security threat of 2018 and what are some of the measures that can be taken to secure your website and network against it. So let's get straight into it.
The right tools (management solutions) will help your business run smoothly, give you the competitive edge in the ever-changing market, and allow you to scale in an efficient way. Here are 5 add-on solutions that integrate easily with most accounting software to boost your business performance and help you operate with visibility and control.
Recently, we have noticed that there has been another spate of virus attack (Ransomware) doing the rounds. If you do not have a robust data backup and recovery solution in place, you might end up losing critical company and client data that could lead to huge loss in revenue, high data recovery costs, lost client trust and regulatory violations.
As a smart business owner, one of the investments you made when you first started the business was in an accounting software in order to stay on top of the financial operations of your business. The software did the job and you were happy with it. However, lately, your accounts team has been complaining about how slow and kludgy the software is? And you are thinking to yourself, "What? No, that can't be true. I have been using it for all these years. They must not know how to use it." Well, we have a news for you.................