How much time do you spend bookkeeping each week? Recording, organising, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. 10 hours? More?
Effective bookkeeping is at the heart of a healthy business. But, done poorly, bookkeeping can be time-consuming and tedious.
Managing your debtors so you get paid on time is critical to your business’ survival. Paying suppliers and salaries, investing in infrastructure and growth – if you don’t have the cash, your business is in trouble.
So, wouldn’t it be wonderful if customers paid on time, every time?
If you’re in business, you already know that careful financial management is important. But do you really aspire to spending your time dealing with numbers and paperwork? That’s probably not why you went into business!
In this month’s newsletter we share the first in a series of highlights from our team’s attendance at Xerocon2018. Always an exciting conference for industry innovation, this year gave us some particularly thought-provoking takeaways. We also discuss an interesting strategy for business owners who have an SMSF. And we dig into how one organisation is adapting to the NDIS.
In this newsletter we want to make sure employers are ready for Single Touch Payroll (STP) and that small businesses are ready for EOFY. We discuss some great tax planning opportunities for primary producers and outline developments in personal superannuation. Plus, check out what #teamsynectic have been up to lately.
Single Touch Payroll (STP) changes the way employers report payroll information to the Australian Taxation Office (ATO), and it is mandatory from 1 July 2018 for employers with 20 or more employees.
So … you might be wondering: ‘What is Single Touch Payroll?’; ‘How do I get ready?’. And they are great questions!
You’ve heard it all before: change your passwords, make them difficult to guess … blah, blah, blah.
But it’s time for us all to take data security seriously. Cyber criminals are targeting Tasmanians and their businesses of all types and sizes. If you’re not looking after your – and your customers’ – data, you could well be the next victim.
Last week Xero released an enhancement to their invoice reminders. The release allows you to bulk-select groups of invoices to switch reminders on or off from the main Invoicing list.
