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August 2019
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By Sky Accountants
Accountants are the first people businesses call when they want to grow, sell or downsize. They are a constant source of support and advice.
By Sky Accountants
Microhotels appeal to the younger generation, business travelers and even senior citizens. Hotel developers are more than happy to pack in more rooms than your typical hotel.
By Sky Accountants
Time theft occurs when an employer pays an employee for time that they weren't actually at work. Time theft is on the rise because of today's increasing mobile workforce and it's costing employers billions of dollars in lost productivity yearly.
By Sky Accountants
Without skilled migrant labour, the government needs to focus more on training Australian workers with the skills that employers like restaurants and cafés need otherwise the country will reduce its future economic growth capacity.
By Sky Accountants
In the past there was no set way in presenting the annual financial statements but changes were desperately needed.
By Sky Accountants
Small business and startup owners are often unsure whether they need a CFO or not. After all, how can a CFO add value to a young company? There is a perception that CFOs are expensive and are for billion-dollar corporations only.
By Sky Accountants
Your company may choose from many different sources to finance its working capital. If you are a new business, you would probably generate working capital through lending money to your company or buying more shares in it.
By Sky Accountants
Many small businesses are not yet aware of the good news coming their way.
By Sky Accountants
State governments are starting to reduce their payroll tax one by one and the WA Chamber of Commerce and Industry is urging the McGowan Government to do the same, saying local businesses need the reduction so they can employ extra staff.
By Sky Accountants
As with anything else in this world, expectations from the hospitality industry grows bigger and bigger by the day. Hotel, bar, restaurant, café, pub and gaming venue operators are expected to provide efficient and courteous service at all times.
By Sky Accountants
Australians love to eat out. According to the Australian Bureau of Statistics in 2018, an Australian household spends an average of $95.05 each week on restaurant and takeaway meals – an amount that's about triple their electricity bills or secondary...
By Sky Accountants
Sky Accountants have reviewed and analysed numerous businesses and have seen patterns emerging.
By Sky Accountants
Clubs are similar to businesses in many ways and they should also adopt best practices in terms of finances. It's important to ensure the organisation's viability as it directly affects its future, staff and volunteers.
By Sky Accountants
You can protect your investment through a business succession plan with insurance funding should critical illness, disability or death occur.
By Sky Accountants
If you could effectively minimise your tax, you just might be able to top up your superannuation, pay off part of your home or business loan, invest funds or even upgrade your car and have a holiday.
By Sky Accountants
Bookkeeping company, Sky Accountants, give a few points on how you can design your club, pub or hospitality business to be profitable this year.
By Sky Accountants
In March, Restaurant and Catering Association former and new CEOs Juliana Payne and Wes Lambert called for a wage increase freeze, saying it would significantly increase the financial pressures faced by restaurants, cafés and catering businesses.
By Sky Accountants
Businesses: What you need to do Because of STP, you will no longer be required to provide payment summaries to your employees or lodge a payment summary annual report to the ATO for information reported through STP.
By Sky Accountants
Using a small business accounting software can be a lot easier if it's available via the cloud. Traditional accounting can just take too much effort and time and doesn't add value to your business.
By Sky Accountants
The prestigious 2019 Australian Accounting Awards recently awarded several Australian individuals and firms at a five-star gala in Sydney on Friday, 24 May.
By Sky Accountants
Bookkeeping is important because it is critical to record your business' financial transactions. If you keep it accurate, you can better track your cash flow, pay taxes and manage your finances.
By Sky Accountants
Inventory management can be challenging for restaurant, café, pub and club owners but they cannot escape it.
By Sky Accountants
It's good to have a tax plan before the end of financial year comes as this will help you make sound decisions and maximise business returns.
By Sky Accountants
PM Scott Morrison has secured his third term in office for the Coalition with an unexpected victory after voters rejected the Opposition's policy agenda.
By Sky Accountants
There are plenty of figures in bookkeeping, POS and other business systems and it could be helpful to have the most important ones in a dashboard. With the help of hospitality accountants, create a weekly set to quickly measure results and manage them.
By Sky Accountants
Payroll can get very tricky and confusing but it gets even more complex when you consider public holiday pay rates. Public holidays are part of Australia's employment standards and workers have the right to be absent from work during these days.
By Sky Accountants
Businesses explain that Sunday and public holiday surcharges go to the additional operating costs that come with public holiday operations, including higher employee wages.
By Sky Accountants
More than 15% of Australian employees are paid based on a modern award but plenty of employers are still non-compliant mainly because awards are complex and interpretations are not always straight forward.
By Sky Accountants
Australia's accommodation sector is being influenced by new global and local brands, technologies and services. The Sydney hotel sector has started its dramatic expansion since the 2000 Olympics.
By Sky Accountants
There are two types of dividends: franked and unfranked. A franked dividend has a tax credit attached to it while an unfranked dividend does not. The franking credit refund policy benefits those who own shares in companies but do not pay much tax.
By Sky Accountants
Casual staff who have worked regular hours for at least one year may now request a permanent position. The ruling by the Fair Work Commission was implemented in October and is expected to provide casual staff with opportunities for permanent employment.

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