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Updates on single touch payroll – extended to all employers

From 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include certain salary sacrificed amounts.  Employers with 20 or more employees have been required to use single touch payroll since 1 July 2018. The new rules push all businesses with employees into the single touch payroll system. …

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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 …

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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 …

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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 …

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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 …

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Thinking investment property, what do you consider?

Keen to get into the property market as an investor? Before you start looking, you need to understand that what you’re looking for in a house, that you would occupy, might be different from an investment property. When you’re hunting for an investment property, rather than looking for features specific to your needs; like commute times or how much you like the kitchen, you’re going to be thinking about the rental yield of the property and whether …

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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 …

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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 …

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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 …

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What is SEO and how you should empower your business with it

SEO or Search Engine Optimisation is the term used to describe a number techniques you can use to increase the visibility of your company online. SEO may involve some time invested, but it is worthwhile to increase traffic and enquiries through your website Why is SEO so important? The internet is now the first port of call for most people when they are looking for a local business so having prominence in search results is vital. Plus, …

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