Bodacious Bookkeeping | Financial service

Bodacious Bookkeeping

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21.01.2022 Are you ready for Single Touch Payroll (STP)? Legislation has been passed requiring businesses to lodge reports with the ATO from 1 July 2019 on payroll, PAYG withholding and superannuation information for their employees; every time a pay run is completed. This will be a big change for those employers who currently don't run their payroll on software that is STP compliant. There are many no cost/low cost options available and the deadline is approaching quickly. Do you need assistance to stay compliant?

17.01.2022 https://www.myob.com//six-essential-elements-of-a-great-b/

16.01.2022 TWO TOP TIPS FOR BUSINESS OWNERS 1. Separate your personal and business finances. Never use the same bank account for personal and business transactions. If you do, your bookkeeping becomes messy and difficult to navigate. Bookkeeping and/or accounting fees will increase as it will take your bookkeeper/accounting professional longer to process your accounts in this scenario. I always advise clients to open a business bank account for business and keep personal savings acc...ounts and credit cards etc for personal spending. 2. Set aside funds to pay tax. Paying taxes and or employee super is an inevitable part of running a business. I see the stress when clients are not budgeting for these costs; when they are due it's a mad panic because the funds are not available to pay the liabilities. Much better to open another bank account and regularly transfer funds across to it from the business account. Saving for these types of payments assists with cash flow and reduces your stress levels.

13.01.2022 Why hire a bookkeeper? Lots of business owners think they will save money by doing everything themselves, but the fact is that a professional bookkeeper actually saves you more. Your time is money that would be better spent where your strengths lie, which brings in more revenue.... A professional bookkeeper will save you money by alleviating the risk for human error from a lack of knowledge in accounting principles, missed payments and tax obligation due dates and delayed accounts receivable. By allowing you to focus on your area of expertise to generate greater cash flow, a bookkeeper makes good business sense so don't wait, contact me today for an appointment.

06.01.2022 Something to think about... I've recently set up a couple of clients who just wanted to be able to track their personal finances. How often do you wonder 'where does all the money go??'. When you can easily see what you are spending your money on, you're in a much better position to set up a meaningful budget and set appropriate financial goals. This can be done online and the monthly subscription fee is less than $10 per month which is negligible considering the benefits that can be gained. I would really appreciate you sharing this post with your friends as you never know who might be interested. Thank you