BEWARE! ATO Phone Scam
The ATO first warned of a phone scam more than 3 months ago, and the losses just keeping coming. Last month alone losses were reported at $830,000, and reports are that the scam is becoming increasingly sophisticated. We are cautioning all our clients to be extremely vigilant about screening calls that purport to be from […]
Top Tips for Choosing the Right Accounting Software for Your Business
Managing the financial health and prosperity of your business is about more than just selling enough products, or engaging enough clients. It’s about knowing exactly what’s coming in and going out, understanding how to use those figures to your advantage – and being forewarned if that delicate balance is about break. The good news is […]
To Cloud or Not to Cloud?
There is so much talk about ‘Cloud Accounting’, but what does is actually mean? Traditionally, accounting systems such as MYOB, Xero and Quickbooks were software programs run direct from your computer. Meaning the data is saved to your computer, network or hard drive. However, in recent years the trend has been rapidly moving towards systems […]
The Budget – Much ado about…
For Pacific Highway travellers, the Coffs Harbour Bypass has been funded – into the future! But I digress, if you thought that the highlight of an accountant’s working year is the hype on Budget night – this isn’t so. We are more concerned with the increasing level of complexity that each Budget delivers. So what […]
What’s in a name?
Trading names will soon be a thing of the past. From November 2018, the ABN Lookup will cease displaying all trading names and only registered business names will be available. If you wish to operate under a different name to your legal name, you will need to register a business name with the Australian Securities […]
How Safe is your Business?
How secure is your business? How safe are your accounts? How trustworthy are people? These are fair questions, and while in most cases, we’re scammer savvy, security aware and we’re lucky enough to employ staff or engage bookkeepers who are upstanding citizens and will do the right thing. However, as with all things in life […]
Employer warning – Labour hire scam
There are times when outsourcing far outweighs keeping jobs in-house, and in fairness that’s how the service industry works. While this alleviates some of the workload for employers, it’s important to do your research properly so you don’t end up getting burned. Recently, Revenue have identified a new and very clever scam. Employers are unknowingly […]
Single Touch Payroll – Are you ready for it?
From the 1st of July 2018, it will be a requirement for certain employers to use a new system to report their employee’s tax and super information. Single Touch Payroll (STP) is a government initiative designed to streamline business reporting obligations and improve instantaneous data available to the ATO. Effectively, the new program will mean […]
Xero tolerance for scammers!
The accounting software ‘Xero’ is popular among our clients, and helpful information is emailed regularly from the Xero team. However, sometimes suspicious and potentially harmful emails are sent out from domains similar to the ones used by Xero. Although this is not common, it is important to be able to identify when emails are not […]
Are you Cyber Secure? Is your business Cyber Secure?
Who would have thought that this would ever be a real thing? Gone are the good old days of bank robbers holding up a branch (like this guy). The real financial crime these days are done online. Cyber security has become paramount in keeping our identities, our wealth and our businesses secure. The ATO has […]