Landing a big contract is great news for you and your business. But before you pop the champagne cork you’ve got some thinking (and talking) to do. Increased business = Increased risk. Growing your business means your business increases in value, which also means an increase in risk. Getting the right business advice is crucial when any significant changes happen … Read More
Landed a big contract? Call your accountant.
Landing a big contract is great news for you and your business. But before you pop the champagne cork you’ve got some thinking (and talking) to do. Increased business = Increased risk. Growing your business means your business increases in value, which also means an increase in risk. Getting the right business advice is crucial when any significant changes happen … Read More
From idle to active 4 tips to supercharge a stagnant business
A big challenge for many small businesses over the next few years will be competing in stagnant or declining markets. Sticking it out requires courage. Running a stagnant business calls for a new game plan, different to the one used in a period of growth. 4 tips to supercharge a stagnant business Back to basics Prepare a cash flow forecast … Read More
7 features of a good accounting system
We like to think of ourselves as tech-savvy, forward thinking accountants. We love a good accounting system. Nothing gives us more pleasure than transforming a business from an archaic accounting system onto slick, shiny new accounting software. But a good accounting system in 2014 needs to be more than just a super-charged excel sheet. It needs to provide easy-to-understand information … Read More
Xero announces new updates and features
From the Xero blog today… Last month I was at Xerocon Sydney where we announced some of the new Xero features being launched over the next three months. Well, it’s only a few weeks later and the first of these features are live – it’s how we roll. Batch deposits For those of you dealing with customers paying by check/cheque … Read More
Business structures: 4 things every business owner should know
Starting a business is literally building something from the ground up. When you start you need a solid foundation (your business plan) and a structure to build on. Start-ups and businesses that forecast growth or substantial change need to carefully consider their business structure, as it’s much easier to start the right way, than have to change halfway through operation. … Read More
Why saving super now, can only mean good things later
If you’re a business owner, planning for retirement can fall down the list of priorities. With an ageing population and mounting costs of living, ‘super’ is an important consideration for all Australians, but even more so if you’re a business owner. Put simply, successful super planning means you’ve made sure you have enough to live off when you retire. And … Read More
Accounting Systems 101: The facts about Cloud accounting
There are oodles of accounting software packages on the market, particularly for small and medium sized businesses. And at 542 you we love our technology, so we’ve always got our fingers on the pulse looking for the best solutions for our clients. Since launching in 2006, Xero has no doubt created a stir in the accounting software market. Their stable … Read More
3 Things to ask your accountant before you buy a business
Industry commentators are predicting as baby boomers move to retirement there will be a surge of established businesses becoming available for purchase. And as the economy continues to improve, it may just be the perfect time to fulfil your dream of being a business owner. But before you ready yourself for ruling a business empire, assemble a team of experts … Read More
You’ve got mail: Receiving an audit notification from the ATO
As the dust settles on the last financial year and businesses look to start fresh, some business owners fear a looming audit. No doubt the folks at the ATO are clever and thanks to technology they’re getting even cleverer. Last year the ATO gathered almost 600 million pieces of information from banks, health companies and third party sources to feed … Read More