fbpx

FBT hot spots for employers and employees

The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees. Important Issues Crackdown on salary sacrifice calculations Exempt fringe benefits during emergencies Employee contributions by journal entry Motor vehicles – using the company car outside of work Safe harbour for utes and commercial vehicles Car parking – are you really declaring the true cost of parking? The living away from home allowance – the common errors Salary …

Read MoreFBT hot spots for employers and employees

What we are doing to keep your data protected

For us and many of you, the internet is not just an intrinsic part of our lives, it’s integral to how we do business.  We took time out last week to join Harwood Andrews Annual Law Breakfast to ensure we are well informed of how we can stay ahead of technology risks for Business Edge Accountants and we are always looking towards adding value to our clients on sharing what we learn as we all know we …

Read MoreWhat we are doing to keep your data protected

Keeping your tax and expenses in check when you are self-employed

Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to understand what expenses you can and can’t claim. This means you’ll keep the right receipts and track the right expenses. Figuring out …

Read MoreKeeping your tax and expenses in check when you are self-employed

Keeping on top of small business cash flow

Why are people losing sight of cash flow? Everyone knows a business needs to stay in the black. It’s not a new idea. So it can be hard to imagine why a business would lose sight of cash flow. Until you’re in business yourself and you realise tracking small business cash flow isn’t as easy as it seems. For small businesses, this can involve: Keeping track of all your expense receipts – which gets really tricky if …

Read MoreKeeping on top of small business cash flow

6 ways to measure the health of your business

When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Knowing where you allow for more effective planning, early warning about any issues, and the chance to better chart a course for success. Attending one of our 7 ways to grow your business seminars is a great start to work out how you can grow the …

Read More6 ways to measure the health of your business

It’s time to Review, NOT Renew!

Overheads, let’s start the beginning, in accounting jargon, to define ‘overhead’ is to refer to ongoing business expenses that aren’t related to labour costs, materials costs, or third-party expenses billed directly to customers like shipping or freight. Overheads can is also sometimes known as ‘operating expenses’, but we’re not here to try an confuse you. Sometimes when you’re running the business you sign up to shiny new objects and so stuck in the busyness of being in …

Read MoreIt’s time to Review, NOT Renew!

Customise your Xero chart to improve your accounting

Your Chart of Accounts sits at the heart of your accounting system, providing a list of codes against which you and your accountant can code your financial transactions. That may sound dull, but in fact, it’s a hugely powerful tool for understanding your finances – and giving you the most detailed view of your income and spending. And in Xero you can customise your Chart of Accounts to add even more value. The power of customising your …

Read MoreCustomise your Xero chart to improve your accounting

Are you directing or leading…

Did you know that every business has one thing in common? There are 10 departments in every business, no matter how small. These are: Shareholder. Director. Leadership. Product / Service Development. Operations. Marketing. Sales. Finance. Admin / IT. HR. Many business owners control multiple departments and where many if not all of them. Now imagine each department has a hat – worn by the single leader of each department. The secret to the success of your organisation …

Read MoreAre you directing or leading…

effective PR in Business

Your small business has a great story to tell, so make it count now and in the future. If you are looking to employ a PR consultant to help drive media coverage, make sure you have done your groundwork for your best chance of success. Four questions to ask internally: 1. Have you nailed your value proposition and business objectives? Is your announcement newsworthy? When you are competing with hundreds of other press releases on a journo’s …

Read Moreeffective PR in Business

When you want to simplify payroll, the simple choice is Xero

If it’s time to (start using/switch to more powerful) online payroll software, I recommend Xero payroll for many reasons. We have listed a few of the reasons below on why Xero Payroll makes for one of the best choices for running payroll in your business. Simplicity – With just a few clicks you can choose how often employees are paid, select multiple pay rates, reimburse expenses, manage employee leave and pay employees. Tax and leave calculations are automatically …

Read MoreWhen you want to simplify payroll, the simple choice is Xero