It’s no secret we love Xero! And even though the platform is super user friendly and easy to navigate, there are hidden hacks that our savvy senior accountants, use every day. Never ones to hold onto our knowledge, check out their favourite Xero hacks, that will save you time. Holly’s Tip: Repeating bills and invoices For regular bills and … Read More
Key tax changes that may affect you
With less than four days until the end of the 2018/19 Financial Year, it’s time to pull out that tax time check list and make sure everything is in order. Particularly this financial year, there have been significant changes to business and personal tax, which you should be aware of, before lodging your return. Not sure what these significant changes … Read More
Preparing and prioritising your EOFY checklist
With June 30 fast approaching now is the time to start preparing for end of financial year. If you’re not sure where to start, keep reading for your guide to setting your budget and streamlining the tax process this financial year. Start preparing your budget forecast for 2019/20 If you haven’t already, preparing a budget for the next financial … Read More
All the latest from Receipt Bank Exchange Conference 2019
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
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
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
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
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
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
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