The Australian Taxation Office (ATO) has implemented a new agent nomination process to enhance security and ensure that only authorised tax agents, BAS agents and payroll service providers can access your accounts and manage your tax affairs effectively. This process now applies to all entities with an ABN, except for sole traders. To simplify this process for you, we’re here … Read More
5 Ways to prepare your business for the festive season
They know when you’re sleeping, they know when you’re awake, they know when you’ve been bad or good, so be good for the ATO’s sake. Celebrating the holiday cheer can have far-reaching consequences but planning ahead and budgeting appropriately can save you from much bigger headaches in the New Year. 1. Give yourself a tax-free Christmas As small business owners … Read More
The future of integrations is endless with Xero
If you don’t already utilise Xero technology in your business, you may want to rethink after reading this blog. With already over 800 third party apps able to integrate with your Xero account, Xero are constantly looking for new partners to help streamline processes for businesses of all sizes. What’s been available? Bank feed integration has been around 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
New year. New Xero: What you need to know in 2019
As we enter the New Year, our friends at Xero have been hard at work making loads of planned changes to help us to even more beautiful business in 2019. Like Xero, we’re on a quest to make record keeping easier, safer and more efficient. So keeping track of improvements will ensure you are getting the most out of your … Read More
How to avoid audit agony
For most small business owners, the thought of getting an audit notification from the ATO is horrifying. But if you’re well prepared, patient and co-operative audits don’t have to be as painful as they sound. The ATO orders audits based on suspicion of incorrect or fraudulent tax returns. Audits can involve varying degrees of scrutiny, from a simple phone call … Read More
5 apps we love for better business
We know running a business can be time consuming and with so many things to juggle, there doesn’t seem to be enough hours in the day. So we thought we’d ease some of that pain with our five favourite apps to make business life a little easier. Deputy Deputy is leading super smooth employee scheduling and workforce management software. Great … Read More
Converting to the blue side: Why your business needs Xero
If you want your business to work smarter and faster, cloud accounting software and specifically Xero is our recommendation. Xero’s cloud based system will not only give you a better overview of your finances but will improve collaboration with your team. Guaranteed. So what’ s this thing called the cloud? Think about when you use Internet banking. Every time … Read More
Spotlight on: Receipt Bank
Not only for our clients, but for ourselves as well. For the last 12 months we’ve been using and happily recommending Receipt Bank to our clients. Receipt Bank’s aim is to remove the burden that bills, receipts and invoices place on businesses. And let’s be honest, they do quite literally stack up. Receipt Bank has developed a software and service … Read More