The new financial year begins on the 1st of July 2022 and will bring changes to superannuation in Australia that will affect employers and their employees. These upcoming changes include the removal of the $450 per month Superannuation threshold plus the increase in the Superannuation Guarantee (SG) from 10% to 10.5%. Employers are encouraged to …
There is no denying Covid 19 has hugely changed the world. As businesses navigate their new normal, many employers have chosen to give incentives or rewards to employees vaccinated against Covid 19. There are different forms of incentives and rewards employees may receive and depending on how they are issued, they may have tax and …
There are many components of running a business that go hand in hand. Many business owners assume if sales are constant or growing, a steady cashflow will follow however, this is not always the case. If your business doesn’t require payment at the time of sale, your invoicing system will impact when and how you …
The Importance of a Good Invoicing System to Ensure Steady Cash Flow in Your Business Read More »
There are many demands on business owners. No matter the industry or size of the business, business owners often wear being busy like a badge of honour. While being constantly busy can mean your business is thriving, it can eventually lead to burn out and health problems. Self-care is all about taking care of yourself …
The Importance of Practicing Self Care as a Business Owner Read More »
While a bookkeeper may not seem necessary to keep a small business operating, a professional and experienced bookkeeper performs key functions that can add exponential value to your business, especially as it grows. While there are many benefits of engaging a professional bookkeeper for your small business, here are 5 benefits to small business owners …
How Working With a Bookkeeper Can Add Value to Your Business Read More »
Business records are a requirement to meet tax, super and employer obligations. As a business owner, it is essential you understand what records are needed for your business and ensure these records are accurate and up to date. Keeping records is a requirement by law and the ATO (Australian Taxation Office), and any business that …
If your business has employees, it’s important to have a thorough understanding of managing your payroll. By law, you must ensure you are paying your employees correctly plus following all the requirements regarding paperwork and record keeping. A common question asked by small and medium business owners, is what the requirements regarding payslips are? Pay …
Do I Have to Issue a Pay Slip Each Time an Employee is Paid? Read More »
The new year is often a time to set some new, exciting goals with the intention to see your business grow. While setting goals can be a fantastic way to stay motivated, giving you something to work towards, it’s important to ensure you have systems and processes in place to achieve goals. If you are …
Are You Working In Your Small Business or On Your Small Business? Read More »
Amongst the hustle and bustle of our day to day lives, our daily routine can become mundane and leave us seeking a new experience. If you are looking for something exciting and new, volunteering is a great way to share a passion or interest, meet new people and help the community. At Bookkeeping Matters, we …
Many business owners like to express their gratitude and thanks to employees and non-employees, such as clients, contractors and suppliers, by giving a gift. Whether a gift for a special occasion such as Christmas or a gift just because, a common question raised is are gifts given to employees and non-employees claimable? The answer is …
Are Gifts Given to Employees and Non-Employees Claimable? Read More »
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