2019 Business Resolution Tips from the ATO

Did you know that the Australian Taxation Office (ATO) has put out some business resolution tips that we concur with?

We know that resolutions often quickly go out the window, but at CCBB&P we can help you to actually achieve them with as little effort and time as possible.

On the top of the ATO’s list is:

  • ‘Sorting out your record keeping processes so you can start 2019 afresh with an electronic record keeping system that meets your business needs’.

We cannot emphasise enough how much time and effort (and therefore money) an effective electronic record keeping system can save you and your business.

There are a range of electronic record keeping options available and it can be daunting to know what system may be best for your business. However, CCBB&P can outline the options relevant to your needs and discuss their pros and cons.

So with that in mind, do you have any resolutions that you would like some help with or do you have any topics that you would like more information on? Please let us know.

We look forward to helping you achieve your goals and grow your business in 2019 and beyond!

Happy New Year from CCBB&P

Happy New Year and welcome to 2019!

We hope you had a chance to rest and enjoy the festive season with your family and friends, and that you are ready for another year.

CCBB&P’s plans for 2019

At Central Coast BAS, Bookkeeping and Payroll (CCBB&P) we aim to continue to provide high quality services to help our clients succeed in 2019 and beyond. We will help take the worry out of everyday administration, give back time to our clients, and provide advanced knowledge and insights on bookkeeping requirements and topics. Our additional focus is the continued integration of Single Touch Payroll (STP) and expanding our team to provide more services to you.

What exactly is bookkeeping?

The background

If you have valuable, skilful staff working on administrative tasks instead of focusing on your business, then your organisation isn’t concentrating efforts in the most efficient ways. The first step to alleviating those tasks is to define them, and here are the most important parts of the process:

  • Conducting and analysing transactions
  • Managing cash flow
  • Accurate management for tax reports and potential audits
  • Payroll processing and invoicing
  • Reconciling accounts at months end

While it is possible to handle these tasks on your own, the ideal solution for businesses like yours is to outsource the bookkeeping and accounting duties to save time, money, and resources.

A bookkeeper

Registered BAS Agents have specialised skills gained from recognised qualifications, technical experience and continuing professional education requirements.

Registered BAS and tax agents are required to meet the qualifications set down by the Tax Practitioners Board (TPB).

The TPB is an independent statutory body responsible for regulating BAS and Tax Agent services. The TPA administers the Tax Agents Services Act 2009 (TASA) and reports to the Assistant Treasurer.

In contrast, anyone can call themselves a bookkeeper. In fact, anyone can call themselves an accountant.

Why have an outsourced bookkeeper?

To take the administrative challenge of bookkeeping and accounting from your organisation’s plate, outsourcing to a business like ours is a simple solution that allows you to get back to what’s important to you: your business.

When bookkeeping is a dirty word

Traditionally, bookkeeping was primarily characterised by data entry. However, bookkeeping is not data entry and it’s not matching transactions with bank statements.

Right now, there is a huge shift in the way ‘bookkeeping’ is performed. Amazing automation tools are improving efficiencies and eliminating manual tasks.

Embracing these new technologies will help you to focus your skills on your business.