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BAS Penalties for Late Lodgement

What is the penalty for lodging your Business Activity Statement (BAS) late? The penalty is increasing from $110 to $170 from 28 December 2012. This represents an increase  of  over 50% which is quite substantial.

Outsource your bookkeeping and save money!

There is a growing trend of outsourcing non core business services such as bookkeeping and other administration functions such as payroll and computer support. Outsourced bookkeeping can lead to savings of up to 40% compared to hiring an onsite bookkeeper.

Bank Reconciliations are a regular necessity for bookkeepers

How often does a bookkeeper need to perform bank reconciliation? The general expectation is that a bookkeeper will perform a bank reconciliation at last once at the end of the month. Traditionally this coincides with the monthly bank statement which is sent out at the end of the month. Bookkeeper Melbourne Co has a strict standard of reconciliations being performed monthly

Accounts Payable needs to be managed according to cash flow

Accounts payable is an important function for the bookkeeper. All businesses need to manage their cash flow and the timing of the payment of bills has a significant effect on the finances of a small business. Forecasting the cash flow of a business is an essential task for a bookkeeper.