Blog - BUSY01 and First Class Accounts Ovens and Murray

Business and Bookkeeping Tips
to help you grow and thrive

Review your expenses - and save yourself money Running a business will always mean incurring certain expenses or 'spend'. Whether[...]
5 strategies for better cash flowManaging cash flow effectively is crucial for the health and success of any business. It's[...]
Business Exit StrategyStarting and growing a business is a journey filled with passion and perseverance, yet many entrepreneurs overlook the[...]
Data regulation and ticking the right compliance boxes Your business faces an increasingly complex regulatory landscape when it comes to[...]
Setting Goals for 2024The new year is a new beginning. If you are a business owner, this is often the[...]
Writing a business plan?Read our guideYour business plan is the sat-nav that keeps the company moving in the right direction.[...]
A business budget will help with your financial decision makingBudgeting is about estimating your revenues, projecting your expenses and detailing[...]
Is there such a thing as over-automation? The need for a human touchAutomating your key systems is the way to turn[...]
Holiday cashflow for your business Whether you’re heading into a holiday period, or just planning to take a break (and[...]
Do you know the rules and entitlements during the end-of-year holiday season? As we head into the summer holiday period,[...]
Preparing your business for a saleSelling your business is a big move for any owner. You’ve built this company up,[...]
Christmas gifts for your customers and teamAs the festive season approaches, it’s a great time to let your customers and[...]
Outstanding tax debts? ATO warns about disclosure to Credit Rating AgenciesThe ATO has shifted its focus from providing assistance with[...]
10 questions to ask yourself as a business ownerRunning a busy and successful business means you often don’t have the[...]
The ATO agent nomination processTo protect the security of your tax and super information, the ATO is introducing a new[...]
How much should you pay yourself?Being the boss means you get to make all the big decisions about your business[...]
5 ways to overcome economic uncertainty Economic uncertainty is an ongoing worry for any business owner. You can control your[...]
How automation streamlines your businessHow can business automation streamline your business? Business automation uses technology to streamline and simplify all[...]
Plain English guide to cashflowWhy is cashflow so central to good financial management? Here's our plain English guide.What is cashflow?Cashflow[...]
Have You Got a Plan for Growth in Your Business?Growth doesn't have to be a daunting prospect. It can be[...]
Streamline Your Business with Online TimesheetsMessy, inflexible schedules, inaccurate timesheets, time-consuming data entry – paper-based time management is slowing your[...]
What to consider when buying a businessPurchasing an existing company is a great way to expand your business empire. You[...]
10 steps to Business Continuity Planning Digital communication and cloud technology have given us the ability to access company information,[...]
Go walking: keep you and your business healthy Being able to run a business from a laptop is an amazing[...]
Proving your ongoing business viability through 5 financial reportsWhether you’re applying for government subsidies, taking out a business loan or[...]
Providing Accurate Source Documents to Your BookkeeperDid you know that the accuracy of your bookkeeping is only as good as[...]
Avoid ATO’S increased tax penaltiesAs the ATO directs its attention towards taxpayers grappling with unresolved tax lodgements and debts, it's[...]
The cost of a new employeeWhen you’re calculating pay rises, it’s important to think about more than just how much[...]
Take care of yourself, not just your businessBeing a business owner can be stressful. When the buck stops with you,[...]
Get Your Business Records Ready for Your Tax Return 2023Organising your documents now will mean you can work with your[...]
Which business expenses can you claim against tax? Incurring expenses is an unavoidable fact of running a business. But which[...]
5 Business Challenges and How to Beat ThemFounding, building and growing your own small business is a hugely rewarding experience[...]
Preparing for finalising Single Touch Payroll It’s nearly time to make a finalisation declaration for Single Touch Payroll. There is[...]
Keeping your cashflow strong in tough timesSmall businesses are particularly vulnerable in tough economic times.When sales are slow, there are[...]
12 Ways to Improve Your Business Performance Are you looking to improve business performance and take your company to the[...]
Using data analytics to give your business a competitive advantageData analytics is rapidly changing the way businesses are operated. By[...]
Is your 2024 planning leading you down the right path?We’ve highlighted 5 important elements that your 2024 strategy needs to[...]
Applying for a business loanApplying for a business loan can be a daunting task, especially with all the paperwork and[...]
5 ways to ensure you get paid on time Worrying whether customers will pay you on time is a continual[...]
Getting more from your procurement spendingKeeping the wheels of your business turning can be expensive. As part of your ongoing[...]
Are you in control of your staff expenses? When your managers and employees have their own budgets to utilise and[...]
3 cloud accounting tips to save your business time and moneyKeeping on top of your accounts is a big part[...]
Getting your bookkeeping ready for a digital future Keeping up-to-date records of your business transactions isn't the most glamorous part[...]
Using your network to create business development opportunitiesPeople buy from people. It’s an obvious observation beloved of salespeople, but it’s[...]
Cashflow or Profit? Which is more important?Cashflow and profit are two of the most important financial metrics for any business.[...]
6 Warning Signs You're Undercharging & tips to increase your pricesAs we head through 2023, business owners are continuing to[...]
Understanding your breakeven pointUnderstanding your business breakeven point is essential to know how much money you need to make to[...]
Outsourcing to help grow your businessOutsourcing to help grow your business can be an effective strategy, especially during periods of[...]
Digital Signatures and Cyber SecurityAuthenticated digital signatures can be a valuable part of your cyber security approach. They are more[...]
Business plant and equipment: Buy or lease?When your business needs new plant or equipment, what’s the best choice – buy[...]
New accountability measures proposed for ABN holdersOriginally announced in the 2018–19 Federal Budget, and now set out in draft legislation,[...]
Improve your financial stabilityWe know that building long-term relationships with your customers makes good sense for your customer experience. But[...]
5 ways to get in control of your business financesHaving proper control of your business finances is a big advantage.[...]
Paid Family and Domestic Violence LeaveNew Entitlement RulesEmployees of non-small business employers can now access 10 days of paid family[...]
Manage your Team’s Spending More Efficiently with Digital Credit CardsDo you need to manage expenses for your business and team?[...]
Secure Jobs and Better Pay Bill - How will it affect your business? The Secure Jobs and Better Pay Bill[...]
Get in control of cashflowIt's an undeniable fact - cashflow is the lifeblood of any business. Without enough liquid funds[...]
Making the most of digital and cloudTransforming into a digital business sets the best possible infrastructure for your future growth.[...]
Making the most of business dataAre you recording, measuring and analysing enough of the data being generated by your business?With[...]
Ideas on how to throw a last-minute Christmas partyMaybe it’s been an extremely busy month. Maybe you’ve just run out[...]
Employees and the Holiday Season – What You Need to KnowThe summer holiday period can be confusing to employers and[...]
Digital Payroll for Your BusinessMany businesses traditionally rely on paper employee records which are time-consuming to maintain. So it's no[...]
Check Your Business Performance Against the ATO Small Business BenchmarksAre you interested in comparing your business performance against the ATO[...]
Planning a financially stress-free holiday periodHoliday breaks are a chance to recharge for the year ahead, especially after the year[...]
How to say thank you this ChristmasIt's that time of year again! The temperature is getting warmer and holiday music[...]
Building and Construction Industry BookkeepingAre you looking for expert bookkeepers in the building and construction industry?We know it's a complex[...]
Meeting your goals during a global slowdownOptimism among business owners was high coming into 2022. But a number of factors[...]
Key numbers to focus on in your business now As a business owner, it’s always been helpful to have an[...]
Bringing your cashflow processes into the digital ageKeeping on top of your cashflow is even more important during tough economic[...]
Is your business attracting the right talent? We all know that business owners are finding it challenging to find good[...]
Knowing what your customer wantsKnowing what your customers want helps you meet your growth targets. We’ve outlined a couple of[...]
When to Register Your Business for GSTShould you register your business for GST? Many business owners register their businesses from[...]
Payroll Updates Sept 2022: Minimum Wage, Super Increase and STPAre you across the recent payroll and employment law updates?Below is[...]
Changes to Annualised Salaries in Restaurant and Hospitality AwardsAnnualised salary arrangements in restaurant and hospitality awards are changing in September[...]
Why you should have a business continuity planKeeping your business operational is a full-time job. It’s a balancing act that[...]
The differences between a contractor and an employeeThe terms "contractor" and “employee” can be a bit tricky to understand, but[...]
Preventing business owner burnoutIt’s tough going for business owners. ​With the labour market tight, businesses are already understaffed. Add high[...]
How to coax your people back to the officeGlobally, our relationship with work and the workplace has changed.People got used[...]
Learning to make good business decisionsMaking good business decisions is easier to do when you have excellent information at your[...]
Keeping your data safe as a remote workerUsing public WiFi in cafes, hotels and coffee shops is something we all[...]
Using forecasting to help your decision-makingProducing regular management information is one way to help improve your business decision-making. But looking[...]
Goals for your businessHave you achieved the goals you set out to achieve when you first started your business?In this[...]
Offering online payment optionsIf you're a business owner, one of the best things about you can offer your customers and[...]
Getting in control of your spendingKeeping your business in a positive cashflow position is vital. But you can only do[...]
Tax Tips for small businesses 2022Common Tax Deductions for Small BusinessAre you claiming all the business tax deductions that you[...]
Get Your Business Records Ready for Your Tax Return 2022 Organising your documents now will mean you can get your[...]
Check Supplier ABNsAre you in the habit of checking your suppliers’ Australian Business Numbers?When you make business purchases, you should[...]
Do You Know What Reimbursements Your Employees are Claiming For? It's unfortunate, but employee expense claims are a common form[...]
Making it easier to get paidMaking sure you get paid on time is crucial to your success. The process of[...]
Coping with the skyrocketing cost of livingWhether it’s refilling your petrol tank or paying at the supermarket checkout, the higher[...]
The importance of business developmentBusiness development is one of the most important areas of focus for any ambitious business.If you[...]
Key Elements of Operational FoundationsWhile the context of this article focuses on start-ups, if you have an established business, it's[...]
Employees Leaving? Here’s What You Need to Know About Final PaymentsEmployees leaving your business? While some termination payments are simple,[...]
Big Changes to SuperannuationThere are some big changes to super happening in the coming months.Here are three of the key[...]
Do Your Independent Contractor Agreements Measure Up?Contractor Agreements - As a business owner, it's vital that you classify workers correctly[...]
Become a digital business In the online, connected world that we now live in, it’s important for your business to[...]
Business tips: Hiring employeesIn business, the people you hire are some of the most important assets in your business.They’re your[...]
Automation can ease your business workloadSmall and medium-sized businesses are spending on average 120 hours a year on admin tasks,[...]
Scam Alert - Payment re-directionAs a business owner, high on your priority list is to protect your assets, employees, reputation[...]
Chasing InvoicesWhen you’re a small business owner, sole trader or freelancer, chasing invoices and asking for payment on overdue invoices[...]
Basics of business taxDifferent business structures pay taxes in different ways, so it's important to have an understanding of the[...]
Making sure your business finances are in orderGetting your head around the basics of bookkeeping, accounting and good financial practice[...]
E-invoicing Is your business using e-invoicing? It’s a fantastic way to protect yourself and your customers from invoice scams, and[...]
Keeping your business cash liquid – the difference between cashflow and profitThe foundational goal of any business is to make[...]
Q3 Deadlines for the DiaryDon’t let the relaxed summer holiday feeling distract you from your business lodgement responsibilities!Lodgement and payment[...]
Plan for 2022!What are your business goals for 2022?The beginning of a new calendar year is an excellent time to[...]
Automating Bank ReconciliationGood bookkeeping is all about recording and matching your financial transactions. Over the course of a usual week[...]
Cashing Out Annual LeaveAre your staff asking to cash out annual leave? There are some important rules to remember before paying[...]
Managing projects in a remote teamWe’re living in a world where remote and hybrid working are now the norm.Driven by[...]
The benefits of engaging a BAS Agent for your businessDo you spend too much time on your accounts? It could[...]
Cyber Security - is your business focused enough on it?We live in a digital world where our company’s data and[...]
Can you require employees to be vaccinated in Australia? ​Vaccination is an effective way to help protect against COVID-19. But[...]
Employee Super changes from 1 NovemberFrom 1st November, if you have any new employees start work with you and they[...]
ATO Line of credit endingAs new reporting powers come into play, businesses are being warned against using the ATO as[...]
Direct Debits and Online Payments Do You Have Direct Debits and Online Payments Set Up for Your Business? Making it[...]
Could a 4-day week be a good fit for your team? The pandemic has acted as an impetus for reflection,[...]
Single Touch Payroll Phase 2 Expansion is Nearly Here!The expanded Single Touch Payroll (STP) Phase 2 is due to start[...]
Does your business have a disaster recovery plan? It’s important to have a watertight plan for overcoming any potential natural disastersWith[...]
Keeping debt lowCredit control: Having a large amount of debt in your business is bad for cashflow, weakens your overall[...]
Making data meaningful for your businessIn today’s world the fast pace of business requires business owners to be able to[...]
Streamline your business administration with digital record keepingGood record keeping is the mainstay of accounts management. It assists you to[...]
Cost of Sales Affecting Gross ProfitDo you know how much it costs you to produce each product or service in[...]
What’s the Difference Between PAYGW and PAYGI?Many people running a business and employing people are unsure about the difference between[...]
What value can automation bring to your business?Automation has the capacity to revolutionise your efficiency and productivity. But how many[...]
Getting on top of your invoicing One way to help your small business succeed is to get on top of[...]
Understanding your revenue drivers For your business to make money, you need to generate revenue. You produce revenue through your[...]
Upsizing or downsizing: forecasting can help2020 and 2021 have created a number of challenges for the average business. Depending on[...]
Do you have a business plan?As we continue to face challenging times, to make a success of your business you’re[...]
Employing Casuals?Here's what you need to know about the new rules.Casual Employment New Rules from March 2021The Fair Work Act[...]
Payroll UpdatesNavigating Payroll? We can help keep you up to date on changes this year, including new rules for casuals.Minimum[...]
Do you feel like a slave to your business?Feeling like a slave to your business implies the loss of control;[...]
What do you want from your business?When you started your business, you probably dreamed about flexible hours and highly profitable,[...]
5 signs you're undercharging Are you undercharging for your services? It can be hard to tell, particularly if you’re in[...]
How do you get your outstanding invoices paid? Do you dread following up outstanding invoices? It can be frustrating when[...]
Managing finances in business When you are busy running a business getting your head around effective financial management can be[...]
5 Ways to Improve your Cash FlowIn our last blog, we discussed ways of managing your cash flow. We know[...]
Managing Better Cash flowWe all know that cash flow management is vital for a growing business. But where do you[...]
Accessing Business FundingCash is the fuel that powers your business. But, does your business have enough capital in your company[...]
10 ways to improve your marginImprovements can always be made at the margin. Small tweaks to your processes or systems[...]
The benefits of offering online paymentsDid you know the easier it is for people to pay you, the faster you[...]
Creating a watertight accounts receivable process In business, it doesn’t get much more important than making sure your customers pay[...]
Should I focus on profits or cash flow? Turning a profit is at the heart of running any successful company.[...]
Vaccinations and the Workplace The Fair Work Ombudsman (FWO) has released guidance for employers on vaccinations and the workplace. Currently,[...]
Choosing the right apps for your businessSoftware technology has evolved massively in the past decade, with cloud-based apps now fundamental[...]
7 ways to save time and money in your business ​We all know that time is money. So, it’s worth[...]
Single Touch Payroll Reporting for Closely Held Payees Mandatory from July ​Closely held payees must be reported via Single Touch[...]
Is Your Business Eligible for JobMaker Payments? The JobMaker Hiring Credit scheme is designed to encourage businesses to employ additional[...]
Should you buy or lease your business assets? There are certain items of equipment, machinery and hardware that are essential[...]
Why you need to forecast your cash flowCash flow is the lifeblood of your business. And when it comes to[...]
Pricing Strategies What's the best way to establish a price for your products or services? Getting your pricing right is[...]
Good news if you work from home. The shortcut method* for calculating work from home deductions has now been extended[...]
Tips to being a proactive business Recent times have certainly shown us that the future path of your business can[...]
Leadership Lessons JUST FOR ME There are thousands of books written about leadership. We’ve distilled some lessons from some of[...]
JobMaker Scheme - Key Points The JobMaker hiring credit scheme is now open for registration. Here’s a summary of some[...]
Five benefits of outsourcing your payroll When it comes to running a business, time is an irreplaceable commodity and we[...]
Leveraging your technology The decisions you make in your business are only as good as the data you use to[...]
Building a better business in 10 stepsThere’s no magic bullet to building a better business; it’s about taking small steps[...]
Saving time and money with a bookkeeper Turning a profit will be high on your list of goals as a[...]
Safeguard your business Small business is all about relationships. But when these go wrong, it is devastating. Ensure you have[...]
Strategic Alliances: the benefits of working together Your business may compete head-to-head with a number of other companies, but this[...]
Cash flow vs profitability.We all know that understanding cash flow is vital to the success of your business. And having[...]
Setting Sales Targets Setting sales targets for your business is standard practice for any aspirational, growing company. If you’re going[...]
Contractor or Employee What You Need to Know Should your staff be contractors or employees? There are many factors to[...]
What are the benefits of forecasting? There are many benefits to forecasting for your business. First and foremost is that[...]
Coming Out StrongerWhat does the future look like?2020 and the COVID-19 pandemic has brought significant challenges for many people, including[...]
What story does your Balance Sheet tell? Do you understand the story your Balance Sheet tells about your business? It’s[...]
Are you considering cutting costs or increasing your prices? With more than 85% of SMEs expecting a lower profit in[...]
Why data matters!With cloud accounting software, such as Xero, simplifying much of the bookkeeping process, you now have greater accuracy[...]
Six reasons to look at your financial reports Making time to look over your financial reports each month is an[...]
Six reasons to look at your financial reports Making time to look over your financial reports each month is an[...]
Six reasons to look at your financial reports Making time to look over your financial reports each month is an[...]
Six reasons to look at your financial reports Making time to look over your financial reports each month is an[...]
The Fundamentals of a Business BudgetA business budget is one of the essential tools in managing your business finances and[...]
Understanding working capital to maintain business success If cashflow is the lifeblood of your business, then working capital is the[...]
Understanding working capital to maintain business successIf cashflow is the lifeblood of your business, then working capital is the health[...]
6 secrets to getting prompt payment If you’re struggling with late payments, and about half of small businesses are, here[...]
How healthy is your working capital?We all know that cash is king when it comes to business success, but what[...]
6 secrets to getting prompt payment If you’re struggling with late payments, and about half of small businesses are, here[...]
6 secrets to getting prompt payment If you’re struggling with late payments, and about half of small businesses are, here[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
Reduce your debtor days and improve cashflowManaging the gap between the receiving money into your business and paying money out[...]
6 secrets to getting prompt paymentIf you’re struggling with late payments, and about half of small businesses are, here are[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
The value of cashflow forecasting During challenging times, many businesses are seeing income either disappear completely or drop to dangerous[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Covid-19 Advice for EmployersEmployers are facing unprecedented changes to the way of working, and many employers are having to do[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Introducing remote working? 70% of professionals work remotely at least once a week, according to a study by serviced office[...]
Your workspace can impact productivity A great office space is about keeping your people happy, productive and working towards the[...]
Looking after yourself as a small business owner? As a small business owner, do you find looking after yourself a[...]
Working from home If you are working from home for your business, you should be able to claim some of[...]
Working from home If you are working from home for your business, you should be able to claim some of[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
How to make your out-of-office email work harder when you're awayThere are a few essentials your out-of-office message needs to[...]
Making data meaningful for your businessRaw data describes the facts and figures that a business processes every day. Over time,[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Building a Better Business in 10 Steps What are you doing to build yourself a more successful business? There’s no[...]
Building a Better Business in 10 Steps What are you doing to build yourself a more successful business? There’s no[...]
Collect your debtors fasterDid you know that you still have to pay tax on your debtors, even if you haven’t[...]
Building a Better Business in 10 Steps What are you doing to build yourself a more successful business? There’s no[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Building a Better Business in 10 Steps What are you doing to build yourself a more successful business? There’s no[...]
Building a Better Business in 10 Steps What are you doing to build yourself a more successful business? There’s no[...]
Working from home If you are working from home for your business, you should be able to claim some of[...]
Building a Better Business in 10 Steps What are you doing to build yourself a more successful business? There’s no[...]
Reporting PAYGW Correctly PAYG and claiming tax deductions From July 1 2019, If you don’t meet PAYG withholding obligations for[...]
Keeping debt low Keeping debt low through proactive credit control. Having a large amount of debt in your business is[...]
Keeping debt lowKeeping debt low through proactive credit control. Having a large amount of debt in your business is bad for[...]
Living above the line There are three winning behaviours and three responses that’ll sink your team. Are you living above[...]
Working from home If you are working from home for your business, you should be able to claim some of[...]
Insuring your business When it comes to business, it’s better to be safe than sorry. Protecting your business with the[...]
Working from home If you are working from home for your business, you should be able to claim some of[...]
Supercharge your business with these ten tips. Here are ten ways to make sure that you continue to drive through[...]
Why bookkeeping is essential for your businessAs a small business owner, do you need a bookkeeper, an accountant, or both?Bookkeepers[...]
Get into the habit of doing your bank reconciliation When it comes to bank reconciliation, it’s important to get into[...]
Getting your business records ready.There is a lot to deal with at the end of the financial year, so it's[...]
There's an App for that!Are you overwhelmed with paperwork? Or do you spend too much time wading through administrative tasks?[...]
Single Touch Payroll is now compulsory for all employers. Single Touch Payroll (STP) is a new system of reporting wages,[...]
How much should you charge? Getting your pricing right is one of the best ways to plan for business success.[...]
Getting ready to exit your business Looking to sell up? Need a plan? Talk to us about creating a workable[...]
Have you explored Deep Work? Have you explored Deep Work? The way you structure your day has a huge impact[...]
Employee Payment Summaries are due soon - for the last time! The end of the payroll year will be here[...]
Teaching kids about money Teaching your kids about money is all about finding the right moments to have a conversation.[...]
Employing casual workersHaving access to a casual workforce can be a great way for your business to manage busy periods[...]
Is your small business ready for Single Touch Payroll?For employers with 19 or fewer employees, single touch payroll (STP) legislation[...]
Do you have a home office?If you have a home office for your business, you should be able to claim[...]
Make your business more profitableIs profitability a key business goal for this year?Making a profit isn’t something that happens overnight.[...]
Get strategy at the heart of your successful business Putting strategy at the heart of your business activity should give[...]
Set your business up with the right structureBefore you start a new business it’s essential to make sure you’re choosing[...]
Profit Vs CashDid you know that there’s a massive difference between profit and cash?Here, we explore the differences across five[...]
Keeping your tax and expenses in check when you are self-employedRunning your own business requires you to wear a lot[...]
Single touch payroll regulations may require you to make some changes. Automation or outsourcing will make compliance less of a[...]
Is your small business registered for GST? You might not be entirely confident of your projected earnings, so it’s fine[...]
Remote work is on the rise. Here's what you need to know.Remote working has many benefits for your business and you[...]