Is the end of bookkeeping near?

Is the end of bookkeeping near?

A lot of businesses would applaud that. Bookkeeping is one of the most hated areas in running a business and finally seeing the end of it would fill a lot of business owners with joy. As a business you have to keep records to comply with your legal requirements. The...
EOFY Reporting – How to Read a Balance Sheet

EOFY Reporting – How to Read a Balance Sheet

End of financial year came and passed – and now we have to finalise all the reporting. There are statements put together by our bookkeeper that we should verify before we hand it over to the accountant. But how can we verify when we don’t understand? Let’s have...
10 Tips for End of Year Reporting

10 Tips for End of Year Reporting

At EOFY you should look at the reports created by your bookkeeper more closely before you start with the process of preparing your income tax statement with your accountant. 1 Get your paperwork to your bookkeeper as soon as possible. This sounds very common sense,...
How much Cash should I have in my business?

How much Cash should I have in my business?

Hospitality is one of the last businesses that still deals with cash, as in physical money. Although cash does not always mean physical currency, it is still what most people think of when they hear the word. There are plenty of definitions of cash, “In economics,...