Are you a new employer? Do you need help with getting started? Do you know what your employer obligations involve? Being an employer is a huge responsibility and brings with it added compliance to which you must adhere if you want to get it right. To assist you in this task, we have created the “Employers’ Toolbox”, a simple guide to getting started including all of the resources you will need along the way.
Employers’ Toolbox (free download) Read More »
The number one things that kills most businesses is poor cash flow. Lack of money basically means that your business will struggle to function and if this continues, may even mean you have to close the doors. Luckily there are ways to improve cash flow issues. Read on to find out about 5 ways you can improve your cash flow.
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5 ways to improve your cash flow Read More »
In my last blog, I wrote about the concept of remote bookkeeping or telecommuting. I explained what it is, why I do it and how it works. I ended the blog by saying that remote bookkeeping can only work well when there are good communication systems in place. This applies to both the bookkeeper and the clients. If either party falls down on the job, then the professional relationship is threatened and can possibly fail. In short, the key to a successful remote or virtual bookkeeping relationship is clear and constant communication.
In my experience as a teleworker, communication is king. It is important in any professional relationship but even more so when that relationship is virtual i.e. you do not work face to face with someone on a daily basis. Put simply, the virtual relationship can be devoid of all key indicators that help us connect as human beings like:
…Communication: the key to successful remote bookkeepingRead More »
Communication: the key to successful remote bookkeeping Read More »
The other day a potential client rang me and said she was looking at our website and wanted to know how remote bookkeeping worked and more importantly, how it could work for her and her business. I was a little surprised by her questions because I’ve been working remotely or “telecommuting” as it’s been labelled of late, for years now as have many others. I went on to explain how I work and how my clients work with me but I got the feeling that she wasn’t entirely convinced. It made me think that there are probably others out there who don’t quite understand how bookkeeping can be done remotely so I thought I’d write a blog that would help to explain how it all works.
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Remote bookkeeping – how does this work? Read More »
One of the most useful features found in cloud-based accounting software such as Xero and Saasu is the ability to upload and attach documents to various transactions. This is great because it means that not only are you complying with your record keeping requirements, but you can also verify your purchases with others. By “others” I mean your accountant, bookkeeper and yes, the ATO should they ask for supporting evidence. Most Saasu and Xero users will be aware that they can upload and attach source documents to sales and purchase invoices. What they may not be aware of is that you can also attach documents to journal transactions. Today I will show you how this done in Saasu.
How to make journals in Saasu & Xero more useful Read More »
Following on from our previous blog, “20 jobs your BAS Agent can do for you”, I thought that it would also be good to advise you on the sorts of jobs your BAS Agent can’t do for you. BAS Agents are bound by a strict code of conduct as handed down by the Tax Practitioners Board (TPB) which among other things, forbids them from providing clients with Tax Agent services for a fee. Read on to see a list of these services.
…5 jobs your BAS Agent can’t do for you…… Read More »
If you get your BAS or Tax Agent to lodge forms like the Business Activity Statement (BAS) or Instalment Activity Statement (IAS) and others, you will be aware that you have to provide your written consent before any lodgement can take place. You might not be aware, however, that there are 8 different ways you can give your consent – yes 8!
…8 ways you can give your BAS Agent authority to lodge your BAS (yes, there are 8!)Read More »
8 ways you can give your BAS Agent authority to lodge your BAS (yes, there are 8!) Read More »
BAS Agents are now a very important part of the tax compliance landscape. They have been floating around since 2010 when the first group of agents became registered with the Tax Practitioners Board (TPB) after the passing down of TASA 2009. TASA 2009 is legislation that makes it illegal for anyone to charge a fee for providing tax and BAS Services without first being registered. Unfortunately, who BAS Agents are and what they do, has not been widely publicised by the TPB and as a result, many business owners have either never heard of them or certainly aren’t aware of what they do. Today’s blog, therefore, is about educating business owners about what BAS Agents can do for them in terms of their tax compliance and other related tasks. To this end, I have created a list of 20 tasks BAS Agents can do for business owners, of which perhaps they may not be aware. See below:
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20 jobs your BAS Agent can do for you! Read More »
Do you understand why record-keeping is so important (whether you’re in business or not)? No? Well here is your complete why what and how of record-keeping. Learn why you should do it and exactly which documents you should be keeping in today’s blog! This blog will assist you whether or not you are a business owner.
…Record-keeping – why what and how Read More »
Employing staff can be a minefield even for the best of us! One of the confusing aspects can be understanding the difference between employment statuses and what each one can mean for your employees. Today’s blog will hopefully shine some light on the topic.
There are four employment statuses to choose from:
Here is an explanation of each employment status:
Full-time employees have been employed on an ongoing basis for an average maximum of 38 ordinary hours per week. They are entitled to:
Part-time employees work less than 38 hours per week but these are usually set hours and/or days. They are entitled to:
Casual employees do not have regular work hours and are not guaranteed to get regular work. They are paid for the hours worked and receive a loading (usually 25% but you must check the relevant award as this can vary) to compensate them for not receiving the same benefits as full or part-time workers. Casuals can be entitled to penalty rates, loadings, and allowances – again check your award for further details. Casuals are entitled to:
Temporary employees are engaged for a specific period of time either via a fixed-term contract or to assist in a particular project which has an end date. These employees are also considered to be temporary if they replace permanent employees who may have taken long service leave, parental leave, or who are injured. Workers engaged via an agency would also be classified as temporary. Temporary employees are eligible for the same entitlements as described above depending on whether they are employed on a full-time, part-time or casual basis.
More information about this topic can be found on the Fairwork website.
I hope you now have a clearer understanding of the difference between the 4 employment statuses than you did before! This is a very basic description of employment statuses. For more specific information related to your industry and employees, please refer to your award.
The difference between full time, part time, casual and temporary employees Read More »