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Most small businesses start off with just one worker:  You. However, as your business grows (or sometimes to help your business grow) you may decide to hire people to become key members of your new team. The people you choose should identify with your core aims for the business and this means that they will […]

Understanding your business breakeven point is essential to know how much money you need to make to stay in business. It can therefore help you make well-informed financial decisions and practical business plans. The breakeven point is the income or sales needed to cover all costs. Any earnings above this point generate profit. So, your […]

Your December activity statement is due towards the end of February. Make sure you have checked off the following: Have you allocated all bank transactions to the correct accounts? Have you verified that the bank balance listed in your accounting software matches the balance in your bank account? Do you have tax invoices and receipts […]

CONTENT You’re running a business, so you know the legal requirements around producing accounts and submitting accurate BAS and tax returns. You can read a Profit and Loss report.  But As a business owner, managing director or CEO, there are three main areas of the accounting proposition that you’re probably most interested in: Compliance work – […]

It’s a fact.  The longer you leave not following up on overdue invoices, the less likely it is that you will get paid.  However, many business owners feel uncomfortable asking for money… even though it is rightfully theirs. Here are some tips on how to make payment chasing easier.   Send an email Send an […]

The Secure Jobs and Better Pay Bill 2022 was passed in November 2022 as an amendment to the Fair Work Act 2009. Some changes start immediately, and others will roll out over the next six months to a year. The act amends workplace relations laws relating to many aspects of employment. While not every new […]