4 common business accounting mistakes to avoid

A strong financial foundation is critical for growing your business. Avoid leaving money on the table by getting your accounts and processes up to scratch. There are countless businesses who make these four common accounting mistakes: Relying on spreadsheets Incorrectly setting up their chart of accounts Accounting on a cash basis Not using an industry […]

4 Reasons Why You Need an Accurate Business Activity Statement (BAS)

Your Business Activity Statement (BAS) is one of your most important tools when it comes to operating a business in Australia. Keeping your records up to date and accurate will save you time and money when it comes time to submit your BAS. We are going to share 4 reasons why you need to keep […]

Repercussions of a Pandemic. How to Thrive

There’s no ifs or buts about it. Your business, no matter how big or small, has likely been affected by the COVID-19 pandemic. The pandemic has crippled businesses around the world as they fight to retain customers and find new ways to stay relevant in a rapidly evolving market. It’s going to take a lot […]

Cash Flow Problems? Consider These Tips

Cash flow is the number one reason businesses fail. If you’re in this tough position you’re not alone and we’re here to help you get back on top. We’ll outline likely causes of cash flow problems as well as tips to help you deal with them. What went wrong? Asking this simple question to better […]

What is an Outsourced CFO?

Let’s start with – what is a Chief Financial Officer (CFO)? The CFO is the person responsible for all the financial aspects of your company. The CFO will oversee those responsible within your company for maintaining accurate and timely books and keeping up with tax implications. The CFO will also provide advice and guidance when […]

Setting Goals for 2021

The end of the year is a time when many people set goals – both professional and personal. Make it a powerful way to launch into 2021, and hit the ground running in the new year. We’re here to share why and how to set goals, plus how to achieve them. Why Set Goals? Lewis […]

Your Office Christmas Party – And Tax

It’s almost that time of year again. It’s silly season, where we allow ourselves to let our hair down a little and indulge in end-of-year festivities. The celebrations may look a little different in 2020 than any other year – and depend on which state in which you live – but the tax implications and […]

Why and How to Change Business Structure

When beginning a new business, many entrepreneurs start with sole trader status. As your business grows, it may become necessary to change structures. Similarly, when purchasing a business, you may identify that the structure is not ideal and seek to make a change. There are many things to think about when it comes to changing […]

How to set and reach achievable goals

2020 has been a year of challenges, but also a year of rethinking. There’s no doubt that lots of new ideas may have passed through your mind. Whether it was rethinking your work-life balance, saving money, or shifting towards a new business plan, there are many ways in which you may have dreamed up new […]

Making the most of the $150k Asset Write Off

The Australian Government has been helpful in the Covid19 crises, and so far announced multiple packages on how to help SME businesses. One of them is an instant $150k Asset Write Off which came into effect in March and has been extended until 31st December 2020. What is an instant asset write off? According to […]