Blog

Accounting tips, industry developments or simply news from our offices.

Currently viewing articles in

Latest Posts

We’re featured in Accountants Daily!

AD profile

We're stoked that Australia's leading publication to the industry, Accountants Daily recently sat down with us to find out what makes us tick, and how we use accounting technology to devlier a better service.

Read More

Overcoming the challenges of financing your business

photo-1459257831348-f0cdd359235f

“Neither a borrower, or a lender be”…or so the old saying goes. But when you are in business, it’s not quite so simple. Starting a business often requires huge sums of money, and sometimes even a mature business can find itself in need of a loan. But where do you start?

Read More

What’s the best way to do accounting for one-man band consultants?

photo-1508672019048-805c876b67e2

So you've been doing engineering, marketing or business improvement for a big company, you have a stellar CV, and now you've made the awesome choice to strike out on your own. You have some clients and are starting to get really busy, but what's the best way to sort out your accounts? It doesn't have to be difficult or expensive.

Read More

We’ll be on the panel at the Sydney Xero Roadshow, 31st Jan 2018

Xeroroadshow

If you’re planning to attend one of the upcoming 2018 Xero Roadshows then why not stick around for Receipt Bank + Practice Ignition's panel discussion? I’ll be joining a panel of my friends in accounting to talk about how to harness the power of tech to increase your efficiency and save time. It'll be fun!

Read More

Why do we offer a full-service bookkeeping, payroll and tax package?

Accountants Daily Screengrab

We were recently on a panel with Accountants Daily, and the discussion was about whether bookkeeping had any place in a modern accounting firm’s offerings. We (passionately!) feel that by offering clients a full accounting service, it does save the client a lot of time but it also means that we are much closer to your business. When we do your payroll and day to day bookkeeping, we’ll be in touch with you very regularly…perhaps even weekly.

Read More

How better accounting helped a client double in size

Sofrito

We're fortunate to have a close working relationship with the award-winning bookkeeping software, Receipt Bank. Recently they asked if we would be interested in giving some insight as to how we use Receipt Bank to help our clients. Our awesome clients, Sofrito Paella gamely agreed to take part, featuring CEO Andy and his delicious paella.

Read More

How do I make it easier to keep track of my business expenses?

yanktank

Have you got a side-hustle; a little startup or hobby business you’re doing on the side? Hey, good for you. Maybe you’re selling handmade candles in a market, or baking wedding cakes at home, it’s for fun as much as it is for profit, and you don’t want it to be a chore. Here’s one simple thing you can do to make your life easier.

Read More

Taking on GST for the first time

touge

So, you have a nice little hobby business, it’s grown from nothing and you’re allowing yourself the thought that you’re doing well. And then someone tells you that maybe you have to register for GST. And that sounds like it’s horribly complicated. It’s not.

Read More

Should I Lease or Buy?

vwparked

A question that we get asked from time to time, is whether it’s better to lease or buy. Say if your business is growing and you need a van. Sure, you can go out and get a loan and buy a van. In that case, you can claim a deduction on the interest cost of the loan, plus the depreciation on the van each year. And if it’s a second-hand van that costs less than $20,000, then until 30 June 2017, you can write off the entire cost in one hit; this will reduce your income tax bill.

Read More

GST Blues for New Businesses

teacup

Running a small business in Australia is a challenging affair. In addition to the daily challenges of running a business and trying to make it profitable, there are a myriad of other things to keep on top of. From superannuation for your staff, to arranging insurance and organising suppliers…especially if you’ve just started a new business, it can all seem overwhelming.

Read More