Salary sacrificing to super allows an employee to forego part of their salary or wages and have the employer contribute this amount to their superannuation fund instead of paying it as cash. It reduces the taxable value of salary or wages, and is therefore beneficial...
There are three fundamentals to successfully scale up your business: having a clear (and documented) organisation structure, having comprehensive systems and processes, and developing great leadership. With growth comes growing pains. Such pains can affect team morale as well as your margins. It’s critical to pre-empt...
You’ve probably heard of SMART goals and, spoiler alert, they’re not rocket science… but they do work. SMART goals are an excellent filter to maximise planning outcomes. With the SMART acronym comes five simple parameters; that any goal (if you truly want to achieve it must be...
https://youtu.be/0SwjYgw4Rww Statistics show in 2018, Australians lost over $100 million to scammers. What if you’re suspicious someone is trying to scam you? TAX-RELATED SCAMS TO WATCH OUT FOR Accountants are customer-service focused. They survive and thrive on having a good reputation for professional service. Therefore, your tax agent will...
Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income Statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over...
You don't need to be in the sales team to make sales. And you don’t need to be in the marketing team to promote your business to new customers. Marketing isn't just about Facebook ads, email marketing and other marketing campaigns. Winning a new customer can...
Hypothetically speaking, if you were hit by a bus tomorrow, how seamless and pain free would the transition be - both for your business and those who rely on it? Succession Planning isn’t just about retirement. In an unforeseen event would the operation, management and...
Research by Kotter International found that more than 70% of projects to implement change within a business fail. Why is this? The research findings show that employee engagement is the biggest factor. Whether it is a small change to one or two processes or a company-wide...
Three steps to ensuring data is meaningful for your business Raw data describes the facts and figures that a business processes every day. Over time, every business hoards a certain amount of data and it only becomes meaningful to a business after it has been processed...
As a small business owner, do you need a bookkeeper, an accountant, or both? Bookkeepers can seem a little mysterious. In fact, they deal with the organisation, the recording and the reporting of financial transactions of a small business. Simply put, a bookkeeper clears the way...