BKSP Blog
Check out some great articles and blog posts from the team at Bookkeeper to the Smart People
Director ID & Penalties for not Applying
The Australian Business Registry Services (ABRS) continues to engage with directors who haven’t met their obligations, and if you are a director of an organisation that has yet to apply for a Director ID, you may be contacted…
Understanding Your P&L
Do you know how to read your P&L?
Mastering the art of reading P&L reports is crucial for making informed business decisions and driving financial success…
Simplify your Payment Process with Pinch
Are you tired of spending endless hours managing invoices and chasing payments? As bookkeepers, we understand the frustration that comes with manually processing payments and constantly following up on overdue invoices.
Emergency Management for Businesses
With the recent QLD storms and flooding on the forefront of our minds, it is more important than ever to organise an emergency management plan for your business.
GST Compliance and Your Business
Understanding and managing GST is crucial for businesses operating in Australia. If your business is GST Registered, it becomes your responsibility to collect an extra 10% from your customers and remit it to the ATO.
New Rules for Fixed Term Contracts
Fixed term contract employees are employed on a contract that terminates at the end of a set period. From 6 December 2023, there are new rules that apply.
PAYG Instalment Methods
There are two primary methods to calculate and pay PAYG Instalments: Instalment Amount and Instalment Rate. Choosing a suitable method depends on various factors…
Annual Shutdown Guide
It is coming to that time of year again where Christmas is around the corner and the New Year. It is common for businesses to annually shutdown during this period…
Our Top 5 Apps for Small Business
Efficiency is crucial in today’s fast paced business world. This list of our top 5 apps will boost productivity and streamline your small business.
Managing Small Business Debt
By closely monitoring the financial records and analysing key financial indicators, a bookkeeper can spot warning signs that indicate a business may be struggling with debt and advise on how to manage this.
Logbook Method – ATO Compliance
If you are using a vehicle for business, it is important to keep a detailed record of its use in order to claim vehicle expenses for tax purposes…
Optimising Your Business Setup for Success
Tips on how to plan ahead, protect your investment and set your business up for long-term success, you need to take several strategic steps:
Guide to Starting a Business
Setting up your own business is exciting but can also be challenging if you’re not prepared. To ensure a smooth start, there are obligations a new business needs to consider. It’s important to note that starting a business is challenging and involves inherent risks.
A Beginner’s Guide to Financial Statements
Unlock the power of financial statements! As a business owner, it is essential to grasp their importance. These statements offer a quick overview of your business’s financial health, showcasing key figures like revenue, expenses, and profitability. With this knowledge, you can make informed decisions to drive success!
Minimum Wage Increase 2023
The Fair Work Commission has announced an upcoming increase in minimum wages. Starting from 1 July 2023. Employers covered by enterprise agreements should seek professional advice on how this will impact their business.
New Super Form & Laws Changes for Annual Shutdowns
New Super Form & Laws Changes for Annual ShutdownsInformation for Employers & Employees Employees use the Super Choice Form to choose the superannuation fund into which their employer will pay their superannuation contributions. Employers must provide a...
Paid Parental has been Expanded
In an effort to close the gender pay gap, increase women’s workforce participation, and provide families with more flexibility during their children’s formative years, the Paid Parental Leave (PPL) system will be increased from 18 weeks to 26 weeks over the course of the next four years.
New Laws – Pay Secrecy & Job Ads
NEW LAWS – New Australian workplace laws about pay secrecy and what can be included in job advertisements now apply.
Paid Family & Domestic Violence Leave – Client eBrief
The entitlement to 10 days of paid family and domestic violence leave is available to employees of all types, including full-time, part-time, and casual employees, and will be available in full at the beginning of each 12-month period of the employee’s employment, but does not accumulate year to year.
FINAL REMINDER: Director ID Applications
The deadline is near! Avoid the fines! As of November 2021, the Australian Government introduced a new legislation that requires all directors of Australian companies to have director identification number (Director ID).
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