Tidy your accounts receivables to start the new financial year, review all open sales and chase up the slow payers.
You may need to issue credit notes or write off sales that you will not receive payment for.
Are you aware of what causes your small business headaches?
We’ve owned this small business since 1997 – lets just say we’ve suffered a headache or two over the years!
What is troubling you most this week?
Take 5, grab a cuppa and give us a call to see if our bookkeeping support is the right remedy for your small business headache.
If you’ve tipped over the payroll tax threshold this year, you’ll need to register and make payments.
Check the rules in each state you operate in, certain contractor payments may be included in wage calculations.
Be aware of entity grouping.
Hey small business owners
Donut forget to celebrate the wins!
Its easy to get bogged down in the day to day monotony of running a business, donnut forget to stop for morning tea and a celebration – no win is too small to acknowledge.
Speak to your accountant about potential division 7A issues & tax consequences of loans to associates
If you cannot repay your business you’ll need to look at a formal loan agreement, your accountant can help you. Don’t get caught by deemed wages.
Are you still here?
If you’ve still got too much crap to do, it sounds like time to delegate.
Well maybe start that tomorrow.
Go home! Call us tomorrow for help (we’re going home early today)
Get your date file up to date, process everything still outstanding so you know exactly where you stand.
There is not a lot of benefit spending more money, if you are already in a loss position. If you are in a surprise profit situation, it would be good to know before its too late to take action.
Watch out for tax advice parrots!
So far we haven’t met a licenced parrot, have you?
Speaking to your licenced tax advisor about your situation is the only sensible way to manage your tax position.
Parrots are known for flying in, making a lot of noise, crapping on everything and flying off again. Watch out for parrots this end of financial year!
Superannuation paid on behalf of employees (including owners/directors) will increase to 10% for all wages paid (bank transfer) on or after 1st July 2021.
Today is the last possible day for on time lodgement of your March BAS using the agent extension. Any March BAS lodged after today risks a late lodgement fine.
