The Bottom Line – June 2022

The Bottom Line Of All Things Finance This Month The RBA responds to “higher than expected” inflation with a rise of 50 basis points in the cash rate to 0.85 per cent, its highest level for two years. ATO promises 12-day turnaround on error-free returns. But common mistakes will lead to longer processing times, it says. By waiting for prefill information…

Today’s bookkeeper is a practitioner in the art of conducting

The role of today’s bookkeeper often extends well beyond simply managing a business’s books. In fact, as one practitioner of the art put it, the bookkeeper of the 21st century is more akin to a conductor. “…we are really coordinating the information, and integrating systems, and discussing processes more than we’re actually doing what traditionally…

Why do I need a Profit & Loss Report and how do I read it?

Most people start their business because they are passionate about the primary work of the business — which usually    is not accounting. This means that most business people aren’t completely aware of how to interpret the monthly financial reports they receive. For business owners, the Profit & Loss Report, and other financial reports can highlight…

Move from Excel to accounting software

Small businesses often start out using Excel – but that’s only doable up until a point. Like every teenager eventually becomes an adult, your business needs to evolve and grow. Find out why the smartest organisations are using online accounting software instead…