As a small business, technology will be a considerable part of your daily activities and processes and play a pivotal role in accounting. In modern-day business, technology is continuously developing, providing entrepreneurs with innovative accounting solutions that are more efficient and accurate than ever before. This guide will detail technology’s role in small business accounting and how to use…
Running a small business takes a lot of mental determination and commitment, but various accounting processes can streamline your success and make business growth possible. This article will detail five ways to improve your small business accounting processes to reach your goals. Effective Bookkeeping With the right bookkeeping strategy, your business can accurately track income and expenses, ensuring reports are…
Getting your cash flow right is essential to running a successful business, and there are specific management techniques that you can pursue to achieve this. Read on to discover how to manage your small business cash flow for the best results. How Does a Well-Managed Cash Flow Look? With a healthy cash flow, you will meet timely payments, whether paying…
It is essential for small businesses to keep on top of their accounting, and plenty of tools are available to simplify this process. As a small business, you have no time to waste using faulty platforms and tools, so we have collated the top two accounting tools and software that will meet your needs and improve business accounting procedures. Why…
Navigating the tax world as a small business owner is a hefty challenge and can take a while to figure out. If you own a small business and are looking for top tax tips, keep reading as we cover some essential information you should know! 1. Prioritise Record Keeping Keeping your invoices and receipts safe while maintaining accurate records is…
Working from home is the new normal, but a new normal also demands some changes. If you work from the comfort of your home, you might be able to claim some of your home expenses. Wondering how to do that? Let’s discuss whether you can claim home expenses, how you can do so, and which costs you can and cannot…
Running a small business is no easy feat. You’re in charge of almost everything, which can cause hair-tearing stress when dealing with your tax liabilities. The good thing is you have several options for lowering your tax bill, and you can reinvest these savings into your business. Wondering what those are? Let’s figure it out. What Is Tax Liability? Tax liability is the tax…
Online currency can invite data breaches often. While some investors see cryptocurrency as a great investment, others may take it as an opportunity to hack systems, scam you, and steal your money online. In 2022 alone, cybercriminals targeted the cryptocurrency industry and stole over $2 billion from crypto exchanges. Plus, according to the cryptocurrency education platform HedgewithCrypto, 47 major cryptocurrency exchanges suffered major hacks…
Navigating the complex Australian tax system can be daunting. You have to understand many regulations and laws, such as the General Sales Tax (GST), income tax, and excise tax. But with some patience and determination, you can understand how to get through tax season without landing any penalties. Let’s look at how to navigate the complexities of the Australian tax…
The new superannuation laws came into effect on July 1, 2022. They saw the removal of the $450 threshold for super contributions. That means employers will have to pay superannuation from “dollar one” of an eligible employee’s wages. Superannuation is the retirement savings that build up for your employee. As a small business owner, you need to know precisely how…