• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Business Report
    • 20 Top Research Organisations
    • Tobacco Laws
  • Takeovers & Mergers
  • Doing Business
    • Start-up
    • Tax Review
  • Video
  • Biz Directory
    • Free Directory Listing
    • Links
  • Guest Post
  • Contact
    • About

Australian Business News and Times

Business News ,Reports and Times of Australia

  • 2011
    • 2010
  • Business
    • Small Business
  • Mining
  • Real Estate
  • Australia
    • Australian
    • ASX
  • Finance
    • Report
  • Offers
  • Times

Accounting software

A Successful Business Isn’t How Much You Earn; It’s How You Use It

August 27, 2018 by Reporter Leave a Comment

Image: http://4ewhrm3ltpev37avv5mi84ky.wpengine.netdna-cdn.com/blog/budget.jpg

Measuring the success of a business should not be based solely on how much the company makes in profit. The Income earned by a business is not as important as how that income is used. Where you choose to reinvest your earnings, whether it be in advertising, staff, small business accounting software, product development or anything else that can improve your business, will be crucial to the future of your company.

The old adage ‘it takes money, to make money’ can certainly be applied here. As a struggling startup, every last cent you make needs to be spent wisely to ensure the longevity of your company. Once you start turning a profit, you can’t get complacent. In fact, once you have money coming in the door, you need to look at where that money can be best allocated to grow and enhance your business, improve your processes and ultimately grow your company into a serious player in your niche.

Continue reading for some useful tips on how using your money wisely can benefit your business.

Hire The Right People

Business owners, especially in new companies, tend to wear many hats. Often times, they are looking after the marketing, the accounting, product development, customer service and virtually every other element of the business. Not only is this inefficient, it’s also exhausting, stressful and will eventually end in disaster.

As soon, as you are turning a profit, the first thing you need to do is to hire a team that you can rely on to help you move towards your business goals. Depending on your needs, you might hire part-time staff, a remote team or perhaps outsource some of your tasks to third-party. Whatever route you decide to take, if done correctly, you will have more time to focus on the areas of the business that you are best at.

Streamline Your Processes

Depending on the kind of business you are running, there are a multitude of software packages and tools at your disposal that can help you become more efficient. Remember, ‘time is money’ and the more time you can gain back in your day, the better positioned you will be to move your business forward and grow.

For example, if you spend hours every week going looking after your finances, consider utilising accounting software to make things easier and gain that time back. Perhaps you spend hours researching the right social media strategy for your business, then maybe hire a digital marketing company to alleviate the pressure. Having dedicated people and tools doing what they are best at, you can streamline your business and everything will run much more efficiently.

Invest In Marketing

In order for your business to stand the test of time, you need customers. It doesn’t matter if you’re a B2B business, you sell to passing foot-traffic or your entire operation is online, you need to implement a marketing strategy that will allow more people to find you.

Successful business owners are the ones that know how to put their business in front of more eyes. You need to let your market know that you exist and give them a reason to choose you over your competitors. Maybe your products or services are better, you offer more competitive pricing or you are better at customer service. Whatever your USP is, find out what it is and invest in a strategy, whether digital or traditional, that will let your business reach a bigger audience.

Work Smarter, Not Harder

Whether you are just starting out in your new business or you are a seasoned business owner, spending your earnings the right way is crucial to your success. When you have money coming into your business, you need to allocate it to the right areas of the business where it can have a positive impact and help you move closer to your objectives. As your business grows, so too will your workload. To avoid working yourself too hard and potentially burning out, you need to make smart decisions with your finances early on to ensure a long and successful future.

Filed Under: Australia, Business Tagged With: Accounting software, Taxation

10 Expenses You Can Claim as a Uber Car Driver

September 5, 2017 by Reporter Leave a Comment

clip_image002

As a Uber driver, it’s the time of the year when taxes are in the forefront. As a rideshare driver, one is bracketed in the realm of an independent contractor, who is now responsible for their own taxes. You would receive the 1099 form from the contractors but filing taxes can be frustrating at times.

As a current Uber driver, there are a number of tax deductions that every Uber driver is qualified for. They can claim deductions based on business related expenses and use of mileage rates. One can use mileage deduction when doing taxes or even opt to itemize expenses including fuel, insurance, maintenance, and the like, but one cannot qualify for both.

One just has to worry about mileage accumulated when conducting business when opting for mileage deductions, which is 57.5 cents/mile for miles driven during business. If you opt for the latter approach, the following is list of expenses used for claiming tax deductions

List of Expenses for Claiming Tax Deductions

· Uber Fee

Uber fees are pretty much straightforward especially with respect to parking fees when on a business ride. One can also include garage fees and meter fees under this criteria.

· Uber Supply

You can deduct things you buy for the rideshare business even if they are not vehicle-related, but related to business purposes, including drinks/ snacks for “passengers”. Some other things that are “necessary and ordinary” can be counted under this header.

· Fuel expenses

You can deduct fuel expenses with the help of receipts, especially if one is audited by the IRS. You can use tax deduction on fuel costs as long as it is part of Uber business. All route expenses when meeting with potential Uber drivers for signing up can be deducted under fuel costs as well.

· Registration & Insurance

Keep the registration and insurance receipts along with bank records related to servicing, repairs, tires, and even maintenance costs. They can be claimed.

· Repair & Maintenance

One can deduct some maintenance and repair costs as part of business matter but not entirely as it can be used for personal purposes too. You can deduct costs related to the tires, oil changes, replacement of brake pads, and anything related to car maintenance that is crucial for ride share business.

· Mobile & Internet Expenses

The cost of smartphones for Uber rides is tax deductible along with phone payments for the time one used it for business use. As rideshare drivers, smartphones are used for business purposes, and hence some cell phone bills can be claimed. You also need to attach expenses related to the internet charges since the route affirmation and ride costs are calculated automatically when connected to the web.

· Protective items

Any hi-visibility clothing or sunglasses that you wear during rides can be mentioned in protective safety gear for riders. Although you can only mention the percentage of use involved in these rides

· Car Depreciation

If you buy the car used for Uber, you can deduct the cost of your car over a 5-year period with the help of depreciation. The depreciation expenses can be spread throughout the 5-year period.

· Car Hire Fees

If you hire a car, you need to deduct the proportion of car lease payment especially when the car is being used for Uber

· Other relevant expenses

One can mention relevant expenses as required based on car maintenance that can be used as a tax deduction for car expenses.

Conclusion

As Uber driver, one can save money while filing tax returns by being alert about the payments and expenses throughout the year, and by keeping a systematic record of the same.

Disclaimer:

This Guest post is brought to you by Mike Watson. For more information on the Tax return and other financial services visit Universal Taxation Service.

Filed Under: TAX Tagged With: Accounting software, Business, Small business

Small Business

April 20, 2017 by Reporter Leave a Comment

You can choose to set up a customised bookkeeping system manually using accounting books cds , electronically via spreadsheets and cloud  or use simple  accounting software

Here is a list of Accounting software for Small businesses  to be compliant with ATO accounting methods according to ato website.

accounting software reviews australia

There are many software packages on the market that allow small business  to successfully control accounts and records without an accounting qualification.

Below accounting software is intended to be developed , keeping in mind the ato accounting guidelines.

accounting software australia calculator

Building and construction industry

As part of the 2011-12 Federal Budget, the government announced the introduction of taxable payments reporting for businesses in the building and construction industry.

The Taxable payments annual report will be required to be submitted by those businesses in the building and construction industry that have paid contractors for building and construction services

From 1 July 2012, businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. You need to report these payments to us on the Taxable payments annual report.

A list of those developers who have registered their intent supporting the new Taxable payments annual report in their products for the 2012-13 financial year below

Small business accounting software

Accentis Enterprise

Web Address
http://www.accentis.com.au

Description

Accentis Enterprise is a fully-integrated accounting, business management and manufacturing system (ERP/MRP) suitable for businesses having between 2 and 100+ users. Designed for small to medium-sized businesses who have outgrown their off-the-shelf system, Accentis Enterprise is fully designed, manufactured and supported in Australia and has been tailored to suit Australian business who need an affordable, feature-rich and flexible business management solution.

All modules are designed as part of Accentis Enterprise, not third-party add-ons, and include:

– General ledger & financials
– Customers, receivables and Customer Relationship management (CRM)
– Suppliers, payables and Supply Chain Management (SCM)
– Inventory management & warehousing
– Job costing
– Manufacturing (kitting, BOMs, MRP)
– Payroll & Human Resources
– Fixed Assets
– Reporting (over 500 standard reports, all customisable)

MYOB AccountRight Enterprise

Description

Business intelligence and accounting software.
Like AccountRight Premier only more advanced. Use MYOB AccountRight Enterprise (formerly MYOB Premier Enterprise) to drill down to your accounts, payroll and warehouses from wherever you are using Terminal Services. It really does take your numbers to the big stage. It also comes with a 12 month membership to MYOB Cover.

 Xero.com

join for free trail 1

If you want  you can also Try the Demo Company (AU)  and have a play, try out new features and get familiar with Xero, before actually buying – but i would suggest just  getting the free trial first is better which can be done in a few steps (takes 5 minutes) as shown above and giving it a go.

 

 

 

Accrivia

Web Address
http://www.accrivia.com.au

Description

The Accrivia software package offers a range of accounting and operational modules software  (including General Ledger, Cashbook, Payroll, Debtors, Creditors, Jobs / Projects, Inventory and Web Interfacing) and caters for small and medium businesses that require more than an ‘off the shelf’ accounting package.

QuickBooks 2012-13

Web Address
http://www.reckon.com.au

Description

QuickBooks 2012-13 allows access for up to 30 users simultaneously (depending on version used) and includes a comprehensive payroll module, industry specific editions, accounting reports and multi-user capability. QuickBooks 2012-13 also includes the ability to submit your BAS return via the Standard Business Reporting online system.

Classic Software

Web Address
http://classicinfo.com.au

Description

ERP Software for the Mining, Exploration and Oil & Gas Industries

ClearAccounts

Web Address
http://www.clearsoftware.com.au

Description

ClearAccounts is a complete windows based multi-user accounting system designed with flexibility for medium to large size companies, compliant with ATO regulations. The core modules include Debtors, Inventory, Creditors (Cashbook), and General Ledger and can include Purchase Orders, Sales Orders, Payroll, Job Costing, Bill of Materials (Kits), Fixed Assets, Sales Quotes, Foreign Shipping, Overseas Creditors, Colour Selections (Tiles), Point of Sale and Masterviews & Charts, fully integrated. ClearAccounts includes electronic creditors payments bank file creation, electronic filing of BAS, bulk emailing facilities and can have custom modifications to meet specific company requirements

Arrow Financials

Web Address
http://www.arrow.net.au

Description

Arrow Financials delivers to businesses timely and accurate information, smart drill downs menus, extensive audit trails, real time interactivity for immediate data update and response. Arrow Financials is modular in its design, which enables you to select the modules in a combination that best meets your individual business requirements. Available modules include Arrow Financials include: Cashbook, Debtors, Creditors, General Ledger, Job/Time Costing, Fixed Assets, Payroll, Purchase Orders, Sales Orders, Stock, Bill of Materials, Foreign Currency, Multi-Company, Security Matrix, Special Pricing Matrix, Front Counter, Serial Batch Tracking, Advanced Sales Analysis.

Tax Assistant

Web Address
http://www.softassist.com.au

Description

Preparation and electronic lodgement of all tax forms 2001 to 2013.
Tax Assistant integ

Attaché Accounts

Web Address
http://attachesoftware.com

Description

Attaché Accounts software is aimed at small to medium businesses that have outgrown off-the-shelf packages and require better network performance, customisation and control. Operational benefits include faster order processing, more flexible pricing, improved stock control and warehouse management, faster debtor payment and advanced reporting. In addition, Attaché Accounts provides specialist solutions such as CRM, Job Costing, Manufacturing and electronic document delivery. Attaché Accounts has no large upfront software payment, just a low monthly amount, and you can scale the software (up to 100 users) to match your growth

Interactive Accounts Manager [IAM]

Web Address
http://iam-online.com.au

Description

Web based online accounting software produces standard reports & SBR reports. The user can interact with their accounting professional well within the software.
This is an ideal software for ABN contractors, Sole traders and micro & small businesses.

E-record replacement

Software to replace E-record software  download is  over here

More information here http://www.ato.gov.au/businesses/paymentsreporting

Filed Under: 2013, Australia, Australian, Business, Business News, Finance, Small Business, Small Business Tagged With: Accounting software, Small business payroll

Free Budgeting software for home business and sole trader

April 16, 2017 by Reporter Leave a Comment

This free “Expense Calculator  software” is a practical and reliable Java based application that helps you to quickly add, analyze and manage various payments or expenses for you if your just running a home business or then even as a sole trader .

The tool is pretty basic and not an full accounting software package

free accounting software
Expense Calculator features a very simple and  intuitive interface and the options are well-organized. With this Software , you have the possibility to quickly add as many candidates as you want so you can easily organize the payments.
Also, you are able to view all the transactions so you know if you will receive or transfer funds.

Expense Calculator screenshot 2 - The application enables you to quickly add new payments by selecting the candidates

Pics from softpedia

Expense Calculator screenshot 3 - You have the possibility to view and analyze the last five transactions within minutes

This tool has been released by an Indian software group called saksham group and  the software can be downloaded free here at SOFTPEDIA

Some more Accounting softwares list :

Some commonly used accounting systems used by small businesses are

  • MYOB.
  • QuickBooks.
  • Reckon One.
  • Sage.
  • Xero – online.
  • Cashflow Manager.
  • Nominal.
  • Saasu.

Filed Under: 2013, Australia, India Tagged With: Accounting software, Budgetting, Small Biz, Software

How to find accountants in Hemel Hempstead

November 23, 2013 by Reporter Leave a Comment

accountant in uk hemel hempstead

If you are self-employed you’ll likely need the assistance of an accountant to help you with your tax and financial affairs if you live in Australia or then UK. Having an accountant can be invaluable as they’ll free up hours of your time each month to enable you to focus your time on developing your business. There are a number of accountants in Hemel Hempstead who can help.

When searching for the right accountant for you, there are a number of things you need to consider such as whether or not they offer the services you require and if they are fully qualified. The following paragraphs will cover the main points that you need to consider and should help to make your search for an accountant in Hemel Hempstead that bit easier.

How to find an accountant in Hemel Hempstead

There are a number of different ways you can find an accountant in Hemel Hempstead, one of which is recommendations from a friend. You can read all the promotional material you want about a company but nothing is better than a solid recommendation from a friend. Therefore, if you have any friends who are self-employed and have an accountant, make sure you ask them about their experiences and whether or not they would recommend you go with the same firm or person.

Another way of finding an accountant is probably the easiest and most obvious… a Google search! These days everyone has a website, be it a large firm or an accountant who works out of their bedroom, so if you type in “accountants Hemel Hempstead” on a search engine, you should be presented with a wealth of results.

Make sure that any accountant on your initial shortlist (if you are going to shop around) is located in an area that you are happy to travel to should you ever need to meet face to face with your accountant.

How much do they charge?

Accountancy fees will vary and sometimes the cost quoted each month isn’t actually what you end up paying. Many firms will charge you each time you pick up the phone or write them an email. However some firms, such as Express Accountancy, offer tailored fixed fee packages which allow clients to speak to their accountant as often or as little as they need. After all, why should you have to pay each time you have a question? Therefore, it is suggested that you try to find an accountant who works on a fixed-fee so that you won’t have to worry about any unexpected charges at the end of the month.

Are they qualified?

Not all accountants in the UK have official qualifications; in fact, anyone can call themselves an accountant. Now that doesn’t mean that any accountant who doesn’t have an official qualification isn’t good at their job, but it’s always worth getting a good accountant who has qualifications as you know that they are the cream of the crop.

Filed Under: World Tagged With: Accounting software, UK

Primary Sidebar

Search

Like us on Facebook

Our Twitter Feed

Tweets by @AusBizChannel
Protected by Copyscape Website Copyright Protection

Counter

Footer

Featured Page

research in australia

20 Top Research Organisations

We are compiling a list of top 20 and more research organisations  which are in the government as … Read more about 20 Top Research Organisations

acquistion

Takeovers & Mergers

List and updates Of the latest  Company Takeovers … Read More about Takeovers & Mergers

funding from govt 2017

Australian Business Grants

Establishing a business anywhere in Australia … Read More about Australian Business Grants

listing directory australia

Australian Business Directory

If you are looking for a Free or paid listing on a … Read More about Australian Business Directory

About

About - Australian Business Report and … Read More about About

Guest Post for us

Join Australian Business … Read More about Guest Post for us

Copyright © 2023 · News Pro on Genesis Framework · WordPress · Log in