We are excited to announce that this week we welcomed Monika to our team and have expanded our capacity to take on more work. Monika comes to us with many years of experience working in the bookkeeping space. It has been a long time coming to fill the role we had available, as most of […]
Expanding our Capacity Read More »
Electronic invoicing (E-Invoicing) is the automated digital exchange of invoice information between suppliers and buyers’ software through a secure network. Whilst the introduction has been around for a while now it has been drowned out by all the other noise that’s been happening this year. The idea of e-invoicing is to make the sending of
What is Single Touch Payroll (STP) Phase 2? While most employers are familiar with Single Touch Payroll (STP) now that Phase 1 has been fully integrated; Phase 2 is the next step along the STP reporting journey. Where STP Phase 1 enabled the reporting of employees’ tax and super directly to the ATO, STP Phase
Single Touch Payroll Phase 2 Read More »
The Queensland Government has announced the next round of the Business Boost grants will open on Wednesday 4th May at 9 am. This round 3 offer will be snapped up so be prepared. The $5000 grant is available to businesses in two areas; the SE Qld region and outside of the region. You can apply
The rules surrounding when to pay employees their wages is a frequent area of confusion for employers and can be difficult to decipher! That’s why we have created a breakdown of frequently asked questions. Paying Wages Frequency The Fair Work Act 2009 details that employees must be paid in full relating to work performed at
Wages Payment time limits Read More »
Keeping accurate and up-to-date records is vital to the success of your business. Good records help you to minimise losses, manage cash, meet any legal, regulatory and tax authority requirements and improve financial analytics. There are legal requirements for how long you keep some records. These include: Income tax and other financial records – at
What is acceptable evidence for claiming an expense Read More »
Some of you may remember that we sponsored a pup, Pixie, through Smart Pups a local charity at Yandina. This charity raises and trains pups specifically for the individual and their family. Recently Pixie graduated and will be moving in with her family soon. This year we decided to support a different local charity Sunny
Directors personal guarantee We have found that many of our clients are signing personal guarantees to establish an account with a supplier without any real understanding of what it actually means. Just recently I had a conversation with a business owner who is a director of his company, the trading entity, who had no idea
Directors Personal Guarantees Read More »
Traditionally February is a slow month for retail, but in reality, we can throw away all things about previous stats this year. People had more money as they had not been on holiday until the end of year break, going back to school was late and frankly, it wasn’t great getting out and about with
February @ KBAS 2022 Read More »
Understanding your financial reports is the key to understanding what is happening in your business. Let’s dive into the profit & Loss profit report and uncover what it is. A Profit and Loss Report, also known as an income statement, shows the profitability of your business over a specific period. It can cover any period
Profit & Loss Report – What is it? Read More »
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