Jun 12

There is a new generation of accountant empowered by new technology, aiming to revolutionise the way you run your business. A lot of businesses are held back because they don‘t receive professional advice from accountants on their financial performance. As important as your BAS or tax return seems the day before it’s due, it’s still simply a form lodged with the tax office. “We believe that an accountant’s role is to support you in building your business and increasing your profits,” says Adrian Pinkewich of Tax Express.

Imagine you just started a business and have two staff working for you. Things are going very well and you’re making good money. You’ve been flat out with client work for three months, so it’s a big surprise when you realise you don’t have enough cash in the bank to pay your wages. On further investigation it turns out that your clients owe you $200,000 and no one in your office has been following up these unpaid debts. This would be a very awkward and embarrassing situation for you, wouldn’t it? But it’s extremely common, especially in the start up phase of a business.
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written by Alex Bhaswara \\ tags: , , , , , , , ,

Jun 12

Accounting and bookkeeping starts right from the debit and credit. Debit and credits are the fundamentals of accounting. Without this debit and credit nothing can be accomplished in accounting.

In simple words debit means expenditure and credit means revenue. Whenever an organization is making payments it means the organization is debiting some amount. Similarly when an organization is getting some revenue it is said that the organization is getting credit.
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written by Alex Bhaswara \\ tags: , ,

Jun 12

What do you do when you can no longer keep track of your accounting books anymore? Even if you know the rules in taxation and in creating financial statements, when your business is going uphill, you definitely need some help. That’s when you start looking for a freelance bookkeeper.

Hiring a bookkeeper, though, is not a joke. First of all, you have to look for someone who can do the job that you require. Second, you need to consider about the bookkeeping rate, which today can range from $15 to hundreds of dollars per hour. It’s important that when you’re in the selection process, you have some criteria in your mind. You can make use of the following:

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written by Alex Bhaswara \\ tags: , ,