The Small Business Superannuation Clearing House is joining ATO online services. Find out what it means for your business.

Since the introduction of SuperStream in Australia, the Small Business Superannuation Clearing House (SBSCH) has provided small businesses and sole traders with an easy option to make SuperStream compliant contributions. On 26 February 2018, the SBSCH will join existing Australian Tax Office (ATO) services. This means that once you have finished updating your bookkeeping for the period in Cashflow Manager you will only have to visit one place to share your information with the ATO. You will be able [...]

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Are you updating your accounting software regularly? 4 reasons you should be.

As the new year begins our thoughts usually turn to new beginnings and making resolutions. It’s a way of promising ourselves to improve in year ahead. That applies as much to your business as it does to your personal life. If you are starting the year with the intention of repeating what you did the year before and the year before that, then your business is stagnating not growing. It is important that you take the time to make [...]

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7 things every small business should do before Christmas

While Santa’s double checking his naughty and nice lists, make sure you check out our list of 7 tips to make sure your small business is all set for a jolly holly Christmas. Get into the festive spirit The end of a year is also a great time to celebrate and acknowledge the hard work and achievements of your team over the past twelve months. Start by creating a festive environment and getting creative with Christmas decorations, activities and events. Connect on [...]

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Mistakes small businesses make with their data backups

Everyone knows the importance of backing up their small business data, yet here at Cashflow Manager we still get many calls about lost financial information. Don’t wait until disaster strikes to find out that your backup system isn’t working. Here are three common backup mistakes to look out for. Skipping Backups One of the more serious and common mistakes made by small business owners is skipping or missing backups. This could be because someone simply forgot to do it, or there [...]

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Our new-look Cashflow Manager Version 11 is here!

We are delighted to let you know that you can now download Version 11 of Cashflow Manager, Cashflow Manager GOLD and Wages Manager. The new features included in Version 11 will help you save hours of time with your bookkeeping, give you valuable insights into your business, as well as keeping you compliant with the Australian Tax Office. Two of the new features we are most excited to share with you include new navigation which makes it quicker and easier [...]

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End of Financial Year is Here!

The end of financial year is here, so it’s time for small business owners to get on top of all their reporting requirements to ensure they are not selected for a tax audit.  There are things you must provide the ATO with and information you need to pass on to your accountant. So where do you begin? Here is a list of some things you need to consider in the lead up to the new financial year. Make sure you [...]

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Simpler BAS Reporting is not far away…

In our recent blog “ATO announces simpler BAS reporting for Small Business” we discussed how the ATO’s introduction on 1 July 2017, of simplified BAS would make it considerably easier for small business to manage their returns. Basically, the reporting requirement for BAS has been simplified so that businesses only have to report the following GST information: GST on sales (1A) GST on purchases (1B) Total sales (G1) While the deadline for commencing with the new Simpler BAS reports is 1 July 2017, which [...]

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How will the abolition of the 457 visa impact small business?

This week, the Australian government pledged to remove and replace the 457 visa entirely, so what will this mean if you run a small business that relies on this category of workers? We expect that more details will be coming soon, but here is what the government has released so far. On 18 April, the government announced that the Temporary Work (skilled) visa or 457 visa will be abolished and replaced with the new temporary skill shortage visa (TSS) in March [...]

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How to set business goals and objectives you WILL achieve

As an entrepreneur, you probably have no shortage of ideas and dreams, but sometimes you can fall short when it comes to putting them into action. Even with the best plans in place, life can sometimes get in the way of you achieving your goals. Life throws you curveballs, or you get sidetracked with something else, and before you realise you are miles away from the original plan. Here are some tips for setting goals and objectives for your small [...]

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4 Ways to Keep Your Accountant Happy

It’s always a good idea to maintain healthy relationships with everyone you do business with. As someone who plays an important role in your finances, your accountant is definitely no exception. Luckily there are four really simple things you can start doing now that will help keep your accountant in high spirits, your professional relationship smooth and allow your accountant to do their best work for your small business. Keep Your Books Regularly Far too many small business owners neglect to [...]

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