News

Setting up MYOB Bank Feeds

MYOB Bank Feeds MYOB bank feeds let you compare your bank account and credit card transactions with the information you have in AccountRight and easily add transactions. Information from your financial institution is sent straight to AccountRight so you can sort out...

MYOB Inventory

MYOB Inventory A place for everything and everything in its place Any business that needs to count its all it’s widgets, needs to decide whether you'll be using a perpetual or periodical (also known as physical) inventory method. If you already know what you want to...

Ostendo Inventory

Real Inventory Management Inventory management (IM) is an often-under valued area of business operations that can hold the key to improved performance and profitability. This is especially true for manufacturers. IM pervades all of the main areas of the manufacturer’s...

Website Maintenance

7 tips for end of year website maintenance Make sure your website is backed up and you have a copy saved on your computer to access the files if required due to breaches on your website.  This can be completed through your hosting providers back up services or a third...

SBSCH joining ATO Online Services

The Small Business Superannuation Clearing House (SBSCH) will join ATO online services on 26 February 2018 and will no longer be accessible with the current user ID and password authentication.     ATO online services gives you access to a range of tax and super...

Employees who haven’t chosen a super fund?

If your employee hasn't provided their super fund information, you will need to make their super guarantee payments into your employer-nominated or default fund by the required due dates. As an employer, you must nominate your default fund and make sure that it is: a...

Consolidate your AR Tax Codes

With Simpler BAS, from 1 July 2017 small businesses will have less GST information to report on their BAS. The only GST information required will be: G1 Total sales 1A GST on sales 1B GST on purchases The following GST information will no longer be required: G2 Export...

Additional Single Touch Payroll (STP) news

What are Your Obligations as an Employer? The Single Touch Payroll design phase is coming to a conclusion, therefore far more is known about what an Employer must do to comply with the STP requirements. This list, while familiar, provides an insight to the business...

What is Abandonment of Employment?

Abandonment of Employment occurs when the employee “walks off the job” or fails to turn up to work. Equally, the employee fails to respond to enquiries from the employer about his or her non-attendance. When this happens, it is reasonable for the employer to be...

Two Factor Authentication in MYOB

Two-factor authentication is becoming more and more important in our increasingly digital world.  There’s nothing new about it, of course – signing into a new Apple device requires two-factor authentication (your password and a code generated in your phone), for...

Single Touch Payroll (STP).

Single Touch Payroll (STP) What is it? You submit payroll and superannuation figures to the ATO each PayRun.  A Payrun could be weekly or fortnightly when you prepare a payslip for a worker.  Each payslip needs to show the year to date totals of gross wages and gross...

Simpler BAS

Simpler BAS Goods and services tax (GST) reporting on the business activity statement (BAS) is getting easier for small business. This is due to a change to GST reporting called Simpler BAS – a partnership between the ATO, software developers, tax professionals and...

Are you claiming GST Correctly?

Important Changes to Annual Leave If your activity statement is delayed it may have been to check that you haven't claimed a personal expense as a business expense. When claiming GST credits remember: you can only claim a GST credit for goods or services used in your...

Are your Leave Entitlements set up correctly?

Are your Leave Entitlements set up correctly?   Most employees are entitled to a certain number of days of annual leave, personal leave (such as sick leave) and other forms of leave that they can take during the year. If you're unsure what leave your employees are...

ATO and Christmas Parties or Gifts

Maybe you are wondering what can or can’t be claimed regarding staff Christmas parties or even the giving of gifts.  Here is a little of the low down..... The boss decides to throw a Christmas party for the staff. Can you claim this as a business expense? Does Fringe...

Important Changes to Annual Leave

A number of very important changes have recently been made by the Fair Work Commission to annual leave entitlements for employees covered by the Fair Work Act 2009. It is now critical for you to familiarise yourself with these changes because: the changes are already...

5 Tips on organizing your clients bookkeeping

When it comes to organizing your clients businesses bookkeeping records, keeping documentation in order is a must. Here are some simple steps you can take to help keep your accounting organised. Structure your bank accounts If your client mixes up business and private...