Be Prepared EOFY Is Almost Here

Tags : End of Financial YearExpense ClaimsProfit and LossReportingStocktake

The end of financial year is June 30th, less than two months away. In the dynamic small business and hospitality space your end of year position can change right up until the last minute.

How To Set Up STP For Your Hospitality Business

Have you heard about STP and wondered what it is? Or maybe this is the first time you have heard of it. What you need to know is as of July 1, all businesses will need to comply with new legislation to for Single Touch Payroll.

How Outsourcing Payroll Saves Money

Tags : Outsourcing PayrollSave Money

For businesses with more than 150 employees’ payroll can take up a lot of internal time and resources for the accounts department. Making the decision to outsourcing payroll saves your business time, it’s a most valuable asset. This extra time translates into more capacity to devote resources to high-value business activities.

Why We Love Accounting (And You Should Too)

Tags : Accounting SystembookkeepingCFOReports

We know what you are thinking. The last thing most of us want to do is spend hours pouring over our finances. We are busy people, running our businesses and our lives. Can’t our finances just take care of themselves? The answer is no! Small business owners often dread the tedium of bookkeeping and accounting. But the reality is your bookkeeping and accounting is one of the most valuable management tools you have available to you.

4 Tips for Business Owners To Plan Your Down Time

Tags : Cloud AccountingFinancial PlanningInvoicingStaff

Summer is here! It is a time to slow down after the busy holiday season. Take valuable time off for yourself and plan for the year ahead. While revenue can be affected by these slower months it is important to not get scared by the slow down. Use your time effectively and be sensible with

Do You Owe Fringe Benefit Tax For Your Staff Christmas Party and Gifts?

Tags : Christmas GiftsChristmas PartyFringe Benefits Tax

Perhaps one of the most famous accountants in literature is Bob Crachitt of Charles Dicken’s ‘A Christmas Carol’. Ebenezer Scrooge is his boss, a miserly moneylender. He underpays Bob who can’t afford proper health care for the lovable little scamp Tiny Tim, let alone a wonderful Christmas feast. No one wants to follow in the footsteps

4 Gifts Every Business Owner Wants For Christmas

Tags : EntoMyobpoint of saleQuickbooksTandaXero

The days until Christmas are rapidly counting down. Have you thought about what to get for the busy entrepreneur or business owner in your life? So what does a time poor, driven person need? They need something that will make their life easier. Or, maybe it’s you! Are you are dreaming of presents from Santa that

3 Ways For Hospitality and Retail Businesses To Maximise Profits During The Holiday Season

Tags : Cash Flow ManagementEntoTanda

The holiday season is a fantastic time of the year. For most of us, this means food, family and holidays. For those of us in the retail and hospitality sector, it means all this and more. It is a busy time and staffing, wages and stocking can put extra stress on business owners and managers.

Stay On Top Of Your Books In The Hospitality And Retail Sectors

Tags : Accounting SystemKountapaymentspoint of saleSquareTryoVend

Anybody who owns or manages a hospitality or retail business knows how hard it is to stay on top of things like staffing, stock and payment systems — you’re always so busy just keeping the business ticking over. In the following, we highlight the accounting software tools that are available to lighten your load, keeping

4 Things Le Tour De France And Your Accountant Have in Common

Tags : AccountantbookkeepingBusiness AdvisoryCash Flow Management

You might not immediately think that the most famous cycling race in the world and your accountant have much in common, but we’re here to show you the similarities and how these can benefit your business. Like elite cyclists, accountants train every day Not only do accountants have to keep up with constant changes in

Do You Owe Payroll Taxes On Your Contractors or Subcontractors?

There are lots of things to consider as the end of the financial year gets closer. Especially for dynamic businesses where staffing can take a variety of forms. Contractor or subcontractors are important during busy periods or to cover staff when they are away or ill. Sometimes the line between contract and full-time employment can

Management Accountant: Who They Are and 3 Reasons to Hire Them

  Do you own a small business? Are you struggling to keep track of where you are and where you want to go both financially and strategically? If so, then a Management Accountant might make a great addition to your team. Here’s a bit more about who they are and how they can benefit your

Single Touch Payroll (STP) – An ATO initiative to simplify your payroll system

What is Single Touch Payroll? Single Touch Payroll is a Pivotal moment for both ATO and Employers. It is the biggest payroll reporting change in Australian history for all Employers. STP is a method of reporting Payroll data electronically to the ATO. It will enable employers to report payments such as wages and salaries, PAYG

Get Organised This Spring

    Spring is here; time to get everything in order, including your books. Spring cleaning is not just about the garage, basement, or bedroom, but also about your business especially the record-keeping process. It does not matter what kind of business you run, bookkeeping can be a tedious messy task. It takes time and

4 Important Tips to Improve Restaurant Business

A busy restaurant is hard to manage financially. A restaurant can face a lot of problems in sales, employees and customers. It is important to have bookkeeping of the financial records and manage all the things. With bad financial management your restaurant can go in a loss, even if you are getting a lot of

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

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

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

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

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

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

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

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

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

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

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

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,

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

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

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

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,

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.

Xero training

Tags : Training

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

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

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.  

Unpaid Invoices leaving SMEs in a Cash Crunch

Tags : Cash Flow ManagementDebt CollectionXero

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

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

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.