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Forecasting for Business

Date: October 3, 2023
Categories: Bookkeeping
Primarily, to progress on your business decisions only possible by creating and analysing the management reports, whereas the past data can only explain on that.It’s significant to plan in today’s business. To form an informed decision on upcoming future strategies, you must be able to decide th ...
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ATO Update (September 2023)

Date: September 5, 2023
Categories: Monthly Update
Checking for charges over property assetsSelf-Managed Super Funds (SMSF) auditors should ensure there are no charges over fund assets as part of completing an annual fund audit.You should obtain evidence annually that trustees have not given a charge over or in relation to a fund asset by see ...
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Superannuation death benefits – TBC Review

Date: September 5, 2023
Categories: Superannuation
In the realm of Self-Managed Superannuation Funds (SMSFs), the Transfer Balance Cap (TBC) stands as a pivotal player. This cap, which sets limits on the amount of capital transferrable to the retirement phase of super, has undergone dynamic changes since its inception on 1 July 2017. Most notably, o ...
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Venture Capital: Fuelling Innovation and Entrepreneurship

Date: September 5, 2023
Categories: Financial Planning
In the world of business and innovation, Venture Capital (VC) plays an important role in helping startups and new companies grow. It helps as a motivating force behind tech advancements, new jobs, and economic growth.Venture Capital means a form of private equity funding that investors give to start ...
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Cloud Accounting Software

Date: September 5, 2023
Categories: Business Service
Cloud Accounting Software has become an invaluable tool for accountants, transforming financial processing with its accessibility, collaboration, automation, and real-time reporting capabilities. By embracing this technology, accountants can streamline their workflows, improve efficiency, and provid ...
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Carisma Solutions
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Don’t process your own payroll for the following reasons

Date: September 5, 2023
Categories: Bookkeeping
You may think that doing your own payroll for a few staff can save money, but you should save time for your business.Time Taking Task:Obviously, if you are from a non-finance background then you need to spend more time to calculate the work hours, and deductions, setting up the pay in the Ban ...
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ATO Update (August 2023)

Date: August 4, 2023
Categories: Monthly Update
Reasonable travel and overtime meal allowance amountsThe ATO has released its annual ruling setting out the amounts it treats as reasonable for 2023-24 in relation to employee claims for:> Overtime meal expenses: The reasonable amount is $35.65.> Domestic travel expenses: ...
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Bookkeeping Mistakes to Avoid

Date: August 2, 2023
Categories: Bookkeeping
The following compiled list of mistakes that small businesses need to avoid will help you improve your business’s financial position. When these common mistakes are avoided, you will be able to save time and money while also maintaining your books in order.Not Knowing Your Expenses:This is ...
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Transfer Balance Account Reporting

Date: August 2, 2023
Categories: Superannuation
Beginning on 1 July 2023, SMSFs will be subject to new requirements for the submission of the Transfer Balance Account Report (TBAR).With effect from 1 July 2023, the ATO will eliminate the TSB threshold and mandate that all SMSFs submit their reports 28 days following the end of the quarter in whic ...
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Global Depository Receipts (GDRs): Facilitating International Investment and Capital Mobilization

Date: August 2, 2023
Categories: Financial Planning
In today's interconnected global economy, companies seek opportunities beyond their national borders to access international capital markets and expand their investor base. Global Depository Receipts (GDRs) have emerged as a crucial financial instrument that facilitates cross-border investment and c ...
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