Are you a slave to your business?

Your business is there to serve you; not the other way around. In other words; you should never be a slave to your business. DO you find yourself on the never ending merry go round of business, day to day, week to week and before you know it months have passed and it feels like nothing is improving? Being a slave implies a victim mentality – that the world has simply dealt you a bad hand, that you …

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Going away… Out of Office replies count

I’m not a huge fan of auto-replies, but they can be a necessary evil and a godsend at times when used well. It’s probably the last thing you do before you head out of the office to enjoy your holiday, but here’s why you should take some time to create your out-of-office message. But to ensure that you can relax more and work less over the holiday break without upsetting too many, be sure to take a …

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Hold me accountable or else what?

While many of us attended School and some possibly University or Tafe, however many of us simply didn’t get the assignment on what makes a good business and what makes a poor one. A great idea starts and people get inspired to take off and give it a go when starting out on their own. With so many taxes, employment and a myriad of other financial considerations to work through, many of use fumble or learn by …

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Contractor or employee? Defining workers in the gig economy

A former Foodora Australia delivery rider, Joshua Klooger, recently won an unfair dismissal claim despite a service agreement that classified him as an independent contractor. We explore the implications of the case.  Pivotal to the Fair Work Commission’s decisionwas the classification by Foodora of Mr Klooger as an independent contractor. The “Corporate Rider” was employed under a service agreement titled “Independent contractor agreement”. At the initial rate of $14 per hour and $5 per delivery, corporate riders would …

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Want to Get Paid Faster

Xero online invoicing – a faster way to get paidXero online invoicing removes the limitations of using traditional paper invoices to get paid.Xero’s built-in online invoicing features let your business carry out the whole invoice process electronically. There are key tools for creating repeat invoices, taking online payments, tracking sales revenues and chasing up any late payments – all from inside Xero.Removing the hurdles to efficient invoicingThe traditional way of raising invoices puts a whole bunch of …

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Get more from Xero with your Chart of Accounts

What is it? The chart of accounts is the list of all accounts your organisation can use to record your transactions in Xero. The Xero chart of accounts has a flat structure designed to suit a small business. Every account in your chart of accounts has several components and you can edit some components, and use components to learn more about the account. You will need the Adviser or Standard user role to view accounts in the chart …

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Getting to know the Xero Dashboard

Getting to know the Xero DashboardThe Xero Dashboard is a one-stop hub for all your key financial information.The dashboard is where you’ll see what’s in your bank account, who’s paid your invoices, and which supplier bills are due for payment – all customisable to show you the important numbers and metrics you need to stay in control of your business accounts.The hub for your key numbersGetting to grips with your finances can be confusing. Xero’s approach is …

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Tax Return file keeping sytems

New Year… More Deductions

The new financial year is here, and with a new financial year comes the familiar hustle and bustle of getting your paperwork together and lodging with a Business Edge Accountants. We know that lodging your tax returns with MYGOV can seem quick and painless, but it still has its downsides when half of the items you’ve claimed for Deductions turn out to be non-tax deductible or simply more often simply not claimed. For your ease of access …

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Book in you 2017 Tax Return at our Albury Office

legally-save-tax-week-4- Tidy up the house

End of Year adjustments to make saving by tax planning INVESTMENT PROPERTY DEPRECIATION If you own a rental property and haven’t already done so, arrange for the preparation of a Property Depreciation Report to allow you to claim the maximum amount of depreciation and building write-off deductions on your rental property. PRIVATE COMPANY (“DIV 7A”) LOANS Business owners who have borrowed funds from their company in previous years must ensure that the appropriate principal and interest repayments …

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