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EOFY Checklist for Small Businesses

  With the financial year end approaching, your focus as business owner will have to be divided into two things: to keep the business running as usual, and preparing all documentations for tax time. EOFY accounting requires a lot of paperwork, below is overall checklist for EOFY accounting; Payroll: in simple words, having your payroll

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The Importance of Inventory Management for Small Retailers

Retail industry is one of the fastest growing segments of the economy, not only in developed countries but all over the world. The emergence of online stores has made it easier for anyone to get into the venture as well. Thanks to the Internet, it no longer takes as much money as it used to

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Your Accounting New Year’s Resolution

Let us start by saying that everybody can be an entrepreneur. Starting a small business or even an online business is now getting easier thanks to the seemingly endless information and marketplace updates on the Internet. A lot of websites also offer free advises on how to get everything started regardless of your niche. The

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Do You Know How to Use Online Accounting Software?

  The accounting part of a small business may not be too overwhelming at first. As the business grows, however, it is unfortunately too easy to lose control of how much money your customers owe you and when to collect. Other business metrics such as payments, revenues, and salaries also play their roles to determine

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Bookkeeper or An Accountant

  Bookkeeping and accounting are inevitable practices in all business, even in small startups where the amount of financial transaction is still quite low. In fact, accountants and bookkeepers are the backbones of business development, ensuring that all incomes and expenses are manageable enough to allow for profitable ventures. With today’s modern technologies, particularly cloud

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No More Shoebox Accounting

As the name suggests, shoebox accounting means the practice of keeping all receipts, both incomes and expenses, in a shoebox; in relation to bookkeeping, business owners or individuals expect to address everything at later date when the needs come. They think that by keeping all records in a shoebox, bookkeeping process will be much easier

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How a Remote Bookkeeper Benefits Your Business

A bookkeeper is an essential part of any business. In large corporations with more than enough financial resources to hire a team of professionals, bookkeeping is handled by experienced highly-educated employees. In small to mid-sized companies, however, money can be scarce and all existing funds are used mainly for improving brand recognition and other marketing

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Online Accounting Software in Australia

Every business, regardless of the goods and services offered, needs good bookkeeper professionals to make sure that all financial activities are properly recorded and organised. Compiling financial report is a major part of company activities in relation to revenues, loss, tax, and planning. Start-ups probably cannot afford to hire professional accountant, but there are always

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Start the New Financial Year with a New Bookkeeper

Business start-ups do almost everything with strong sense of Do-It-Yourself mentality, and they thrive on that. Completing every task yourself from marketing and accounting saves money because you don’t have to pay for any professional service. For the first few years when money is not flowing-in as smoothly as expected, it can indeed be difficult

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Preparing and lodging BAS

  One of the most difficult and often overlooked aspects of small business bookkeeping is preparing to lodge business activity statement (BAS) either monthly or quarterly. BAS is a tax reporting requirement for business issued by Australian Taxation Office. Based on the report, you can pay GST (goods and services tax), PAYG (pay as you

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The End Is Near! The Financial Year End!!

  Financial Year-End Check-list for Small Business   Financial year end is approaching. It is a busy and important time for small businesses; the time when financial reports take scrupulous attention to details. Compiling financial reports basically involve the process of closing books/accounts, making financial statements, and paying your tax obligations. There is a lot

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How Technology Has Changed Bookkeeping

The responsibilities of bookkeeper have never changed in thousands of years. They record all economic activities including all transactions and make sure everything is neatly and properly documented for future reference. Bookkeeping jobs remain the same, but the tools have evolved from simple quill and pot of ink or pencil and paper to modern calculator,

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Five Bookkeeping Issues Faced by Small Businesses

Every business starts small and expands to bigger scale over time. The first few phases of development are also the learning grounds for business owners to hone their bookkeeping skills and eventually become better in leading their companies to financial accountability. It takes time to get good grasp of what a proper bookkeeping should be

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Practical Training with 360 Accounting

Proper accounting has always been the backbone of all business operations. Thanks to advances in technologies and software development for companies, the days of old-fashioned bookkeeping and management are gone. Every financial activity is now computerised and automated to ensure accuracy and minimise possible human errors. Regardless of how sophisticated the software is, however, every

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Get trained in Xero

Xero is here to make accounting much easier for you. Are you at the University and looking for an entry level job? Does the hustle seems a bit tricky for you? Well, this is the place to be. I offer Xero training course that can lead you to better jobs in accounting. This course is

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Brief Overview of Virtual CFO

The backbone of all businesses is good financial management. It allows companies of all levels to measure performance, launch profitable marketing campaign, and even expand the business when everything is indeed manageable. For medium or big corporations, the financial department of the business is usually handled by chief financial officer. For small companies, particularly startups,

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How to maximise on the Xero’s global search

The global search function in Xero has made many a lives lot easier. Here is how you can maximise on the search function. Contact us for getting the most out of your Xero accounting system.

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Xero training

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For more information and registration email training@360accountingservices.com.au

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Highlights from XERO Roadshow Feb 2016

For those of you who missed the Xero Roadshow this February below are the highlights; Xero HQ will succeed Practice Studio. It brings  together the best features of Practice Manager,  Workpapers, My Xero and Tax into one seamless  experience To help registered agents streamline their business and take their workflow  online, Xero Tax will be

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Xero Roadshow February 2016!

The first Roadshow for 2016 is scheduled to be on 18/02/2016 in Melbourne. For more information and registration you can click here.  

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Unpaid Invoices leaving SMEs in a Cash Crunch

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A recent study conducted buy PayPal and Intuit shows that on an average small businesses are owed $13,000 and one forth of these businesses resort to credit from banks for their operating cash. On an average a small business spends 12 days in a year chasing unpaid invoices. Other prominent findings; only 12% of small

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Debt Collection made easy with Xero

Cash is king! Xero understands the importance of cash flow to a business and has introduced a feature to set reminders for customers. Xero has simplified the task on debt collection by sending automated emails to customer when their invoices are overdue. To learn more about debt collection in Xero call 1300 360 749 and

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NAB and Xero join forces

National Australia Bank and Xero have joined forces to make loan approvals easy and quick. Businesses will be able to submit their published P&L, Aged debtors and other reports directly from Xero. Making loan approvals quick and easy. Need help with Xero ? a 360 Consultant is only a click away.

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