All the latest from Receipt Bank Exchange Conference 2019

CraigBusiness Process, Business Technology

As you know, we love utilising the latest technology to streamline processes and provide our clients service beyond compliance. Last month, 542 Partners Director, Stu, attended the Receipt Bank Exchange Conference in sunny Port Douglas to hear from one of the world’s leading technology innovators, Receipt Bank, to see what they have planned for 2019 and beyond. We’ve summarised some … Read More

When accountants and mortgage brokers collaborate

StuartCraig Tracy, General

Due to the recent Banking Royal Commission, borrowing money is becoming increasingly difficult.  It has caused banks to tighten their lending policies which means loans are being assessed more stringently and a critical evaluation of 3 to 6 months of bank statements are being requested, which could ultimately lower your borrowing capacity. It’s now up to mortgage brokers to prove … Read More

2019/20 budget highlights and key takeaways

CraigAustralian Budget, Chris Fallico, Super, Tax

If you missed the recent announcement of the 2019/20 federal budget, 542 Partners has you covered! The ‘Ballot Box’ budget is designed to showcase the return to surplus and engage voters with initiatives to make them feel like they are more prosperous. A massive infrastructure spend adds to this sentiment. We partnered with Chris Fallico from ACADIA wealth advice to … Read More

Overcoming business growing pains

CraigBusiness Structures, General

The growth stage of every business, while exciting, comes with challenges. When revenue increases and more customers are putting trust in your product or service, common growing pains start to arise that businesses must tackle.   Cash flow and financial management Increased revenue doesn’t necessarily mean good cash flow. Managing a higher stream of cash flow is often challenging for … Read More

Essential 2019 business apps and integrations

StuartBusiness Process, Business Technology, Cloud Accounting

Technology plays such a vital role in business. And let’s be honest without it, you may be losing valuable time, which we all know, equals money! At 542, we love utilising the latest accounting and business technologies to save time and make everything work efficiently. Check out our top apps and integrations that we’re loving for efficient business in 2019! … Read More

Why accounting and business advisory should be two of the same

CraigUncategorized

For a while now, the general commentary around accounting has been around the rise in data entry automation spelling the death the traditional accounting industry and signalling the new approach to accounting. Significant technological change and a shift in the market has forced accountants to re-structure their service offering in an effort to remain aligned with the needs of their … Read More

The banking royal commission: What this means for mortgage broking and how it affects you

StuartCraig Tracy, General

At 542 Partners, we pride ourselves on providing a holistic service offering. We use our networks to ensure our clients are delivered the very best accounting service, partnered with other services related to their business needs, such as finance. We’ve worked closely with mortgage broker, Craig Tracey from Craig Tracey Lending, for a few years now. An expert and passionate broker, who’s helped many … Read More

Starting 2019 off the 542 way

CraigBusiness Process, Cloud Accounting

If you have big plans for your business in 2019, then January is all about laying a solid foundation for the year ahead. Before you get caught in the day to day life of business, use January to review your business processes and financial position, that will help you achieve your goals in the New Year.   As you know, … Read More

Xero makes Single Touch Payroll easy

StuartBusiness Process, Business Technology, Cloud Accounting

From 1 July 2019, Single Touch Payroll (STP) will be expected to be a part of the pay-as-you-go reporting cycle for small business. That’s right, no more end of year ATO reporting and statements for wages, deductions and super information. How does STP work? For businesses with digital payroll software, like Xero, it can be done in seconds. Xero’s STP … Read More