Thursday, 30 October 2014

Why Parramatta Accountants are Vital for Continued Business Survival

Two key factors in an enterprise’s strategy are proper bookkeeping and management of accounts. Numerous business owners assume that these two are just mere data entry tasks, choosing to keep and maintain their own records instead of hiring professional Parramatta accountants such as those from Advanced Accounts. What these entrepreneurs fail to realise, though, is that meticulous records are virtually useless without the necessary skills and experience to utilise them in making good business choices. The value of a Parramatta accountant lies in what he or she does with the information gleaned from the books. Interpreted correctly, data can be used to determine the financial position of a company throughout the year. It can also aid in business growth, help owners manage debt properly, handle funds well, and transform the business into a cash-producing venture to increase profits and fuel expansion.

Tuesday, 28 October 2014

How Parramatta Accountants Help Steer Businesses in the Right Course

Accounting is more than just recording data and calling it a day. When done correctly, experienced Parramatta accountants such as those from Advanced Accounts can help business owners stay on top of their debts, pay their employees proper salaries, guide growth, and manage funds efficiently. In addition, these experts can assist entrepreneurs in making their businesses truly cash-producing ventures. With such crucial factors hinging on the effective management of business accounts, professional accountants in Parramatta are truly invaluable members of any business owner’s team. More than just keeping records straight, working with the right accountant will give entrepreneurs a wealth of information and concrete advice to steer their businesses in the right direction.

Monday, 27 October 2014

A Need for Parramatta Accountants: Small Business Cash Flow Problems

As a major business district in the Sydney metropolitan area, it’s no surprise that many of the enterprises that call Parramatta home are in a constant struggle to stay afloat and keep their competitive edge sharp. While many small businesses fail to take on a solid game plan that will protect their cash flow stream, know that hiring reliable Parramatta accountants can help secure your business from major cash flow problems. The Business Budget Along with so many other services, accounting firms like Advanced Accounts can help you create a reliable monthly and annual budget so you can have a nice bird’s eye-view of future expenditures you’ll need to prepare for. With this, you can identify how much money you’ll need to pay off recurring debt and troubleshoot your cash flow (by keeping it in the positive) before you end up drowning in debt.

Thursday, 2 October 2014

Parramatta Accountants Help You Comply with Crypto-Currency Tax Rules

Keeping track of such trends, as well as changes to the ATO’s tax rules, is best left in the hands of a reliable accounting firm that provides businesses of all stripes with experienced, professional accountants in Parramatta—such as like Advanced Accounts, for instance. The ATO’s proposed tax treatment on crypto-currencies deserves a closer look. According to the ATO, income tax or GST implications don’t apply to bitcoins used to pay for private transactions unless the cost of the bitcoins exceeds $10,000. In addition, the ATO allows entrepreneurs to use bitcoins to pay their workers’ wages—provided a valid salary sacrifice arrangement was made. However, such a payment will be considered a ‘fringe benefit’, which means that provisions from the Fringe Benefits Tax Assessment Act will still apply.