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Financial year
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Financial Year

Date: November 3, 2023
Categories: Bookkeeping
What is Financial Year?Financial Year (FY) is annual period for calculating the taxes, Budgets, and reporting. It is also known as Fiscal Year, which the government uses it for accounting and budgeting process.  It is a way to analyse the performance of the business over a period and helps t ...
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Bookkeeping
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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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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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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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Evaluate Your Business Budget

Date: July 4, 2023
Categories: Bookkeeping
Having a clear picture of your budget to see where you need to shift some of your priorities is essential for the business life to run normal. It helps you to pay attention to how your spending has affected your business over the past few years and how far it has helped you to achieve or deviate you ...
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Cyber Security for Small Business

Date: May 29, 2023
Categories: Bookkeeping
Numerous businesses are now operating digitally after making the necessary transitions. As companies continue to utilise the plethora of information and resources made available by the government, software, and industry associations, the landscape for small enterprises is gradually changing. What h ...
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Tax Refund
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Save Your Receipts To Maximise Your Tax Refund!

Date: April 30, 2023
Categories: Bookkeeping
According to recent research by the Commonwealth Bank every year, one in two Australians lose out on an average of $1000 in tax refunds due to misplaced receipts.Can you afford to lose out on $1000 in additional deductions this year just because you neglected to keep track of your receipts all year? ...
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Common Bookkeeping Mistakes To Avoid
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Common Bookkeeping Mistakes to Avoid

Date: April 3, 2023
Categories: Bookkeeping
Bookkeeping is a critical task that every business owner should pay close attention to. Proper bookkeeping can help ensure that your business runs smoothly and that you stay on top of your financials and are complaint with Australian tax regulations. However, even small mistakes in your bookkeeping ...
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Accounting Ratios
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Accounting Ratios

Date: March 9, 2023
Categories: Bookkeeping
Have you heard of Accounting Ratios? If not, here is a brief explanation about them.Accounting ratios are a useful tool for analyzing a company's financial reports. They are a type of financial ratio that measures how efficient and profitable a company is.It shows the relationship between one ...
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Embrace the Change: Shift to Fresh Reports Today

Date: February 7, 2023
Categories: Bookkeeping
Start moving your work to the new reports right away if you haven't already. This will give you enough time to get comfortable with them before the old versions are no longer usable.Below is a list of the newest additions to the reports:Columns in the aged reports will now hide itself if it's not ne ...
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