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

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

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

4 Ways your accountant should offer more than a tax return

StuartBusiness Process, Tax

Choosing the right accountant for your business is essential for so many reasons. But we’ll get to that in a moment. At 542 Partners, we value client relationships and have a genuine interest in guiding your business journey with smart technology and clever processes. So if you’re used to only seeing your accountant at tax time, here’s a few more … Read More

E-signatures: the missing link to your lodgement

StuartBusiness Process

We believe the right tools make all the difference. As an Xero Platinum Partner, 542 Partners chooses to send documents for signing via Xero Portal. As agents, we are legally required to have all documents signed before lodging with the ATO. By making the process digital, we hope to streamline the process and make it easier for you to view … Read More

How to avoid blurring the lines between business and personal finances

StuartBusiness Process

Whether you’re a sole trader or in an alternate business structure, managing your personal and business finances separately is essential for good financial management. We know it’s not uncommon to use personal savings, particularly when bringing your business idea to life, but as your business grows, it’s important to track business and personal incomings and outgoings separately. Spot The Difference … Read More

Long Service: What Building and Construction Industry Employers Must Know

StuartBusiness Process

What Building and Construction Industry Employers Must Know

Traditionally designed to reward employees who stayed with the one employer for a period of service, long service leave in this form has quickly became inaccessible to most Australian workers. For workers in the building and construction industry, the thought of long service leave seems only a distant dream. Whether it’s contract tenures or simply site availability, long service for … Read More

2018/19 Budget changes that may affect your business.

StuartBusiness Process, General, Super, Tax

2018-19 budget changes affect small business

Reward for work is a dominant theme in this year’s Budget. The seven year personal income tax plan initially targets low to middle income earners before making significant changes to the tax brackets. While there’s much to be said about the complete budget, we’ve reviewed the key highlights that may affect your business. $20k accelerated depreciation extended until 30 June … Read More