Bookkeepers and Mobile Bookkeeping Services

Your Business Activity Statement BAS should be submitted by 11 January 2010 **

The Australian Taxation Office are looking at a new income tax processing system from 1 February 2010.

To get things moving, they’ll be shutting down their systems 22-27 January 2010.

** If you’re a small business owner that’s expecting a refund, you should be asking your bookkeeper to lodge your Business Activity Statement BAS as early as possible.

The ATO are suggesting that your Business Activity Statement BAS should be submitted by 11 January 2010 to minimise the chance of any delays.

Many business owners may be eligible for the additional 50% tax deduction for certain new business investments.

Small business entities (businesses with an aggregated annual turnover of less than $2 million) need to purchase an asset by 31 December 2009 and install or first use the asset by 31 December 2010 to qualify.

They claim the bonus deduction in their tax return for the year in which they install or first use the asset. You should consult a registered tax agent.

Copenhagen = Economic Climate Change CON-ference

Surely the average John and Jane Doe are not as gullible as the media and world governments would have us believe

All the world leaders at the massive “Climate Change” conference currently at Copenhagen are talking – but the only climate that we’ll see change out of it, will be ECONOMIC = TAXES

Why have so many people been sucked in by “world Governments” claiming they want to save the planet [Read more →]

Anything we can do to clean up the environment and the planet would be fantastic, but lets hope we can at least debate for 5 minutes what it should be….. interesting perspective…..

the insignificance of carbon dioxide as a weather controller

The ETS tax (Emission Trading Scheme) is another tax.

Read the following analogy and you will realize the insignificance of carbon dioxide as a weather controller. [Read more →]

Is the ETS (Emissions Trading Scheme ‘aka’ Carbon Trading Scheme) also referred to as the Enormous Tax Scam just another GST?

After all the money that Kevin Rudd [never had] has given away, is this the ETS simply a solution to re-filling the government coffers?

How will it help the environment anyway?

We’ve been trying to work out how many millions of carbon units Kevin 747 has chewed up running around the world trying to “save the planet” – Perhaps this is what he refers to as “leading by example” – everywhere we look around the world there’s another Labor Politician having a holiday business trip attending a “conference”

Weren’t they elected to run Australia? Who knows

Hasn’t the “Milky Bar Kid” heard of Skype – or is his he so hooked on FaceBook and being a twit on Twitter

Fred contacted us because he’s on the hunt for a bookkeeping service that will ensure full client confidentiality.

He stressed that his company financials are highly confidential. He’s pretty insistant that he doesn’t want the bookkeeper to do the payroll, because then the bookeeper will know how much each staff member is being paid.

Right.

Fred’s not outsourced a bookeeping service before. Fred was very concerned that the bookkeeper would know all about the financials of his company.

No hanky-Panky through the Business set of Bookkeeping Records

Yes, Fred – that’s what a bookkeeper does! Simply put, the bookkeeper records every dollar and cent coming into your company, and every dollar and cent going out of your company.

So, Fred, if you are having hanky panky somewhere and don’t want your wife to know about it, nor want your bookkeeper to know about it, don’t put any hanky-panky sexpenses through the business.

Well, if you do, you’d better call it something else. Because we don’t want to know about it – and you probably don’t want the ATO to know about it either – perhaps you could speak to the SA Premier about that.

Fred’s been quite happy to give the whole company Quickbooks data file to his accountant all this time – perhaps he thinks accountants won’t notice the transactions into and out of his business.

By outsourcing a bookkeeper, Fred can be assured that his bookwork will be up-to date, correct, and completed in a timely and efficient manner – Indeed, by outsourcing, there’s less chance of the staff learning too much about the financials – the bookkeeper can report directly to Fred, and show Fred how to raise the relevant reports each month or quarter

Waiting for the accountant generally nmeans that the data is over twelve months old. If our book-keeping service did not maintain client confidentiality, do you think we’d have many bookkeeping clients?

How would you know that your bookkeeper is doing the right thing?

There’s a book-keeper in San Francisco that’s facing a life in prison for fraud, after he pleaded guilty to charges of defrauding investors in excess of $20million

The book keeper had been running a ponzi scheme – not quite the same scale as Madoff, but for longer.

Apparently the bookeeper had been promising clients that the money they invested with him would earn huge returns through a series of commercial loans. He’s been doing this for the last thirty years! To run a scheme like that you’d imagine he’d have to be pretty good at bookkeeping and keep all his bookwork upto date

Simply, he persuaded new investors to get on board, and used those funds to pay out existing investors, or for his own personal use

We’ve had a number of calls this week from new clients wanting help with their MYOB Software. They rush out and buy the software, unwrap it, and throw the disc in the computer and expect everything to fall into place with their bookwork.

We’ll come to your office and help you set up your MYOB

There’s a MYOB wizard to help get your company files happening. Simply follow the instructions, making various selections depending on the nature of your business. [Read more →]

At a recent seminar the guest speaker asked the question: “What’s your most important asset?”

Many small business owners are the major bread-winner of the family.

Here’s an example of just such a person who was suddenly stricken with cancer and was no longer able to work. The treatment cost $1000’s and they had no income protection insurance.

He’d been diligent in building up a property portfolio valued at around $3million, with outstanding loans of around $2million, so there was $1million in equity.

During the 18 months of treatment, with mounting financial presures, the family sold off their assets for around $2.7m, paid off the loans of $2.05m , legal fees, agents fees, and capital gains taxes amounted to $766k, leaving their net worth at around $234k

Suddenly their net worth dropped from $1m to $234k. Could they have done anything differently?

Maybe. How would you cope in that situation? Many business owners will obtain building and contents insurances etc, but not look after their most important asset – themselves.

MYOB have announced a price rise on some of their software products. Strangely MYOB Accounting plus v18.5 has increased in price – yet the software has already been developed, and the end-user is getting no increased value whether they bought the software on 30 September, or 1 October following the price rise.

We are used to seeing a price rise on new versions of the software, but how exactly is MYOB helping small business by raising the price on existing software?
[Read more →]