Accountant Press Releases

Many businesses used errors in the payroll system as an excuse for underpayment in 2019 and it may continue to be used this year because of their over-reliance on digital systems.

If you set up a self-managed super fund, you can make investments that suit you, including property.

If your main goal is to scale your business, a company structure may be your ideal choice because it provides flexibility to expand and bring in new partners to the business.

Working in trades can keep you very busy that you don't have time to worry about finances and bookkeeping. Managing your finances is a big part of the business but it does not have to be difficult.

At Sky Accountants Ballarat, our goal is to empower you to become a better, more finance-focused and well-rounded entrepreneur. Contact us at info@skyacc.com.au or 1300 328 855 There are several differences between sole trading and a trust.

Self-managed super funds are popular investment choices but do you really know the benefits of an SMSF as compared to industry or retail super funds? While other funds are run by external trustees for thousands of members, an SMSF is a trust structure...

Business conditions can quickly change and the shifting market can make it hard for you to get the price you want. Business owners who contribute to their own superannuation avoid the risk of being reliant only on exiting their business with a sale.

our manufacturing business can benefit from an accountant who understands your business. Manufacturers in Australia face challenges such as high labour costs, inventory management, tracking customer orders, managing builds and assemblies and shipment.

An effective way to minimise tax is to use a bucket company. When business owners generate a good profit, they're often shocked at the tax they owe to the ATO. However, they would not pay for more tax than necessary if the right strategies are in place.

As a business owner, it is in your best interest that you are getting the right advice and support, especially when it comes to finances. As your financial life evolves, your accountant should give you proactive advice to help you and your business grow.

If you're considering hiring an accountant for your small business, you're likely asking how much it would cost.

Oftentimes, people spend money to deduct expenditure from their tax payable but this practice usually leads to buying unnecessary things just to get a tax deduction.

For liquor stores, inventory only involves making sure their stock matches their sales and invoice records. It can be a bit more complex for bars and restaurants because liquor is sold by shots instead of by bottles.

Restaurants and bars get by on very thin profit margin so it is important to keep proper accounting records to improve their odds of success.

Your restaurant or bar has specialised accounting and bookkeeping needs and when you've grown your business to the point where you cannot keep the books yourself anymore, you need a bar bookkeeper or accountant who has years of experience in the...

To run a productive and smooth restaurant, there should be a balanced coordination among your staff, vendors and inventory. Your restaurant's efficient operations depend on your preparedness.

As a restaurant and cafe owner, you rely on your staff to cook and serve the meals, greet your customers and clean up the venue.

Wages are often one of the largest expenses in any business, therefore it is crucial that wages are benchmarked, controlled and monitored through restaurant and cafe bookkeeping.

Owning and running a restaurant requires hard work but many still dream of opening a second venue or more. However, in today's volatile market, would it be better to just focus on one restaurant? Restaurant bookkeeping experts weigh in.

Many commercial kitchen equipment items are now available on the market, all promising to make everything efficient and consistent.

Domestic overnight travel continues to perform well in Australia with about $74.5 billion spent during the year ending March 2019.

Businesses look to accounting firms for advice on becoming more efficient and cutting costs in today's increasingly competitive business environment.

Accountants are the first people businesses call when they want to grow, sell or downsize. They are a constant source of support and advice.

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.

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.

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.

In the past there was no set way in presenting the annual financial statements but changes were desperately needed.

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.

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.

Many small businesses are not yet aware of the good news coming their way.

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.