Accounting

Single Touch Payroll – Are You Ready?

Single Touch Payroll – Are You Ready?

Single Touch Payroll is the government’s way of capturing data in real time for PAYG, Superannuation etc – it also means staff won’t be chasing you for payslips and PAYG summaries as this is all accessible via their myGov portals. They will see tax withheld, gross wages paid, super liable to date in real time.

EVERYONE LOVES FREE MONEY...

EVERYONE LOVES FREE MONEY...

If you know me at all you know I love free stuff… But I think it’s safe to say we all love free money don’t we? 

Going Paperless – Receipt Capturing

Sick of receipts fading, shoeboxes full of invoices, receipts and paper? CHUCK ‘EM!... well almost… First download the Xero app to your mobile and snap away…

To add receipts and expenses as you go:

1.    If you’ve got an Android phone, tap RECEIPTS then the plus sign (+); on an iPhone, tap the plus sign (+) then ‘Add receipt’. 

2.    Key in the details. 

3.    Choose whether you paid from a business account, or from your own funds and need to be paid back. (Great for expense claims from staff as you need to approve them once they hit your dashboard before they can be repaid and you can see the receipt…… and they can’t say they lost it!)

4.    In the bottom right click Add file > find it on your camera roll or take a snapshot of the receipt in your hand, and upload it as a file…. then off to the recycle centre it goes!

 

Want to learn more about Xero and streamlining your systems? Send us an email for a free consultation!

Make it Easy for Your Customers to Pay YOU!

Make it Easy for Your Customers to Pay YOU!

Cash flow an issue? Here are our tips to remove the roadblocks to speed up the time it takes to get paid!

Payment Options with Xero

Payment Options with Xero

Want to get paid faster? Here are our favourite integrated Apps to accept payments through your Xero invoices...

HOW TO: Splitting payments and deposits

HOW TO: Splitting payments and deposits

It’s more and more common these days for your customer’s to pay a deposit, or pay their bill off in instalments. Same goes for your suppliers and payment terms – a deposit to start production and the balance on delivery for example. This is all good and well, but how do you record this in Xero without creating a million invoices for each stage?!

Save Time. Make Money.

Save Time. Make Money.

Integration is the key to streamlining your processes electronically and cutting down on time double entering information. It also makes your reports more accurate and useful!

Xero is a fantastic platform for maximising integration with their API shared publically with developers… Xero encourages app development to benefit their users. 

3 Bookkeeping Time Savers

3 Bookkeeping Time Savers

As a business owner myself, I am always looking for ways to save time! Here are three of my favourites for bookkeeping!

Creating Bank Reconciliation Rules in Xero

Creating Bank Reconciliation Rules in Xero

Creating rules takes a little time to set up but will save you hours coding every transaction each month! Here's HOW...

Claiming GST Credits: what can I claim for my business?

Claiming GST Credits: what can I claim for my business?

Simply put, you can claim GST when these four conditions apply, as laid out by the ATO...

Employee V Contractor

Employee V Contractor

There is a lot of confusion around what classifies a subcontractor and who should be paid as an employee on the books. Recently, this particular question came up with a client. So here are the rules...

Make Your Dashboard Your Friend

Make Your Dashboard Your Friend

Using Xero? Are you making the most of your dashboard?

Learn how to maximise your SNAPSHOT of your numbers and keep an eye on those liabilities...

HOW TO: Auto-Super Processing on Xero

HOW TO: Auto-Super Processing on Xero

Processing Superannuation used to be a long, painful process... but now with Xero it's so SIMPLE! Learn how here...

Happy EOFY!

Happy EOFY!

Here are some important dates to remember this Tax Time!

Integration in the Spotlight // Invitbox V ReceiptBank

Integration in the Spotlight // Invitbox V ReceiptBank

Sick of spending hours rummaging through papers and tirelessly entering numbers? Are you looking to save time and money on data entry?

Here is a closer look at our two favourite tools for invoice capturing; Invitbox and ReceiptBank...

Report for YOUR business

Report for YOUR business

The chart of accounts is not just a list but a powerful management tool. Have you looked at yours recently?

Setting this up to show the areas of your business you want to track is instrumental in getting a clear picture of your performance.
 

SuperStream… are you ready?

SuperStream… are you ready?

By June 30, businesses MUST meet the ATO SuperStream standards.

The criteria?

1. Paying superannuation contributions electronically...

Cash or Accrual Basis... but what does it all meeean, Basil?!

Cash or Accrual Basis... but what does it all meeean, Basil?!

When I lodge the first BAS for a client or when I set them up on accounting software such as MYOB or Xero – I ask them, do you report on cash or accrual basis? The common response I get is *blank look* “Huh?!”…

So here is the difference...

HOW TO: Splitting 2 Tax Code Transactions

HOW TO: Splitting 2 Tax Code Transactions

Internet and Phone, Produce, Insurance... to name a few of the common purchases that have multiple tax codes.

Here is an example, my phone bill is $180 (including $2.04 GST).....

 

Too much like hard work? We love this stuff.. don't waste your precious time crunching numbers when you could be chatting to customers, innovating or making sales!!!?

3 Common GST Mistakes

3 Common GST Mistakes

June is fast approaching and it will not only be BAS time again, but the end of the Financial Year..

GST and what has it and what doesn't is a common area of confusion for my clients! And fair enough too.. like the English language there are so many "exceptions to the rule"...