News
Covid Virus Update for Business
Covid19 Bookkeeping Update for Business We are trying to work through all your queries as well as continue our regular services. Be assured, we are here and working diligently for small business. Over the coming fortnight we will be focusing on: General processing of...
Corona Virus Update Bookkeeping
Corona Virus Update Bookkeeping Below is a summary of the new piece of legislation that is due to be passed next week for your review and if you wish to participant, register using the ATO link provided below. As the Federal Government announces any further changes to...
STP Compliance Help
Single Touch Payroll (STP) What is it? Single Touch Payroll (STP) changes the way employers report their employees' tax and super information to us. As of 1st July 2019, all businesses must report STP data to the ATO. Using payroll or accounting software that offers...
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?
Employee superfund help: 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...
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...
What is Abandonment of Employment?
Abandonment: 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. It's reasonable for the employer to be entitled to...
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).
Additional help Please visit our updated blog https://www.limeresults.com.au/stp-compliance/ so you get a better understanding. Please visit our updated blog for advanced instructions and...
Simpler BAS
Simpler BAS Goods and services tax (GST) reporting on the business activity statement 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 small...
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...
Did you know changes are happening to Australia’s super system?
Most of the changes start from 1 July 2017 so it's important to be prepared. You or your employees may be affected if: you make extra super contributions, including through salary sacrifice you have an income over or close to $250,000 you or your spouse have an income...
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...