How is your business performing?

We all know the importance of keeping up to date with your bookkeeping and accounts when running a business. What about understanding your business performance?

Satisfying your legal obligations is only one of the benefits of accurately recording your business dealings. However, correct allocation of your spending and sales are integral to understanding your business performance.

Reporting

An experienced bookkeeper can ensure expenses and income are correctly reported providing you with insights into your business profitability.

Expenses

Are you regularly hiring equipment? At what point would you benefit from purchasing the equipment? There are many aspects to analysing the benefits of purchasing capital when compared with hiring.

You need to consider how a capital purchase can affect your business.

Taxation incentives
Depreciation
Loan repayments
Equipment maintenance
Storage
Insurance

Payroll

One of the biggest expenses for business. At what point will you need to start reporting to the ATO your payroll expenses as they occur? Read my post on ‘Single Touch Payroll‘

Do you analyse your staff performance? Most accounting systems are able to provide insights into your staff performance as long as you’re set up correctly.

Income

Which products and services that you supply are the most profitable? Who are your biggest customers?

Correctly recording and analysing your accounts is an absolute must when answering these questions.

Help is here

Aliantha Office Solutions has many years of experience reporting to Management on the performance of their business.

A proactive approach to your business reporting is what we can provide. Whether you want daily, weekly, monthly or quarterly reporting, Aliantha Office Solutions is here to help. We will ensure that you are completely up to date when required.

Call now to discuss what we can provide. I can give an estimate over the phone on what your likely costs will be. Don’t delay!

Single Touch Payroll

What do you know about single touch payroll?

Single touch payroll is basically a new feature. Software companies are now working on adopting this new feature. This will enable you to provide a report to the ATO every time you process payroll.

This just reports to the ATO on a more regular basis the following:
• What your PAYG liabilities are;
• What your superannuation liabilities are; and
• Your staff wages.

The ATO can reconcile this with your end of financial year payment summaries that you already send them. You also have the opportunity to pay these liabilities at the time they occur. Although you can still pay at the same schedule you’re currently paying them.

Your systems are vital to ensure you comply. You must give a pretty good reason why you cannot comply. Technology is being thrust upon you. So if you’re not digitally recording your accounts, maybe you should start. If you have 20 or more employees as at 1 April 2018, you must use single touch payroll from 1 July 2018.

Think you’re off the hook?

Think again! Dependent upon legislation being passed, if you have 19 or less employees, you will be required to use single touch payroll from 1 July 2019.

In conclusion, you will be required to either adopt an accounting package to your business, or make sure the one you’re using is going to meet the new regulations.

Need help?

Happy to discuss how Aliantha Office Solutions can assist in keeping you up to date and informed on which packages are right for you. Here’s the link to the ATO website outlining the changes.

Plug

Xero are working extensively with the ATO in meeting these new regulations. They currently have a special with 50% off for four months. But you need to be quick. The offer expires on 22nd of December 2017. Call to see how you can take up this fantastic offer!

Need some holiday season office support?

I’m sure you’re looking forward to taking a break over the summer season to spend time with friends or family, or maybe travelling to a beautiful holiday destination.

When running a small business, you may find it difficult to really take a break. Here’s some solutions that can be invaluable to your sanity.

Get your accounting systems in the cloud
Remotely check to see how your business is going
Upload any business receipts from wherever you are
Send instructions to your staff for creditor or debtor bills
See your banking transactions without logging into your banking software

Holiday office support

Aliantha Office Solutions can help you in setting up some cloud based solutions for your business.

We can keep your accounting systems up to date and provide office support whilst you’re relaxing and enjoying a break.

Software specials

Xero have just announced a special 50% for all new subscribers off their monthly fees for 5 months! This offer expires on 31 October 2017. Call to discuss.

Too busy working in your business to deal with the paperwork?

Small business operators are usually too busy working in their business to effectively deal with the paperwork that comes with it.

Their expertise is working in their business or trade and not on keeping control of the accounts.

Working with a bookkeeper can save money in correctly apportioning business expenses and tax codes. But more importantly, can save you precious time for your family and friends.

Call anytime for a discussion on how Aliantha Office Solutions can help you!