Single touch payroll (STP) is a new regulation that changes when and how small businesses report payroll activity to the Australian Tax Office (ATO). Businesses used to report this information to the ATO once a year. Now, they need to send a report after each payday. And those reports must be submitted digitally, using a … Read more
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 … Read more
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. … Read more
You may have noticed a few changes to the navigation in Xero. Launched on 27 November 2018, these changes bring a more logical framework to the menus and are more in line with the way businesses use Xero. One of the most obvious updates is the split between business tools and accounting tools. The accounting … Read more
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 … Read more
Applying for a business loan can be easy Need some extra cash to take your business to the next level, but daunted by the loan process? You’re not alone. There can be a lot of paperwork and number-crunching involved. Before you get started, remember that a bank wants your application to succeed as the interest … Read more
Your Succession Plan and where you should begin You’ll leave or sell your business someday, so how do you make sure it’s on the best possible terms? Here’s our advice… What is a succession plan? It’s a plan for the exit of yourself from your business, it’s where you will decide how and when you … Read more
Business Growth and the Key Elements When you’re a small business it is vital that you step back to see the full picture of your business. Why do you ask? Stepping back will help you make informed decisions on what changes and improvements are needed to drive business growth and performance. Did you know that … Read more
It’s not about the convenience, it’s about your security. Xero’s new two-step authentication Working with our clients recently there were a lot of questions around Xero’s introduction of two-step authentication (2SA) and how it’s another thing to do in your business. When talking this through with clients I explain how this is just another example of … Read more
As an industry, we are going through a change in response to compliance automation, tax simplification and an increasing demand from clients for more proactive services. So what does this mean for our clients at Business Edge Advisors? It means we are more focused on delivering business development services by getting up close and personal with … Read more
