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Importance of Accounting Software

Many businesses from time to time start to ask themselves whether they are operating the right accounting software for their business, especially through time of growth or change. The good news is that you are not stuck with the one accounting system for the whole life of your business.Your accounting system should change as does your business, if it becomes more complex or grows your accounting software should also change to keep up with the businesses demand. If you find yourself asking some o...

July 11, 2019

Single-Touch-Payroll (STP)

STP For Small Business Most recently new legislation has been introduced relating to payroll which will impact small to medium businesses. Due to come into effect 1st of July this year if you run your own business it is important to be prepared. Regardless of your business size or number of employees as of 1 July you will need to lodge all payroll information, including salaries, tax and super information to the ATO each time you complete a pay run. Having the right systems in place and team to...

March 5, 2019

More than a bookkeeper

Each business requires different levels of finance help, from concise record keeping to an ear to sound out strategies, it is important that the right person is engaged to help you in your journey. At Omnia Bookkeeping we are more than just bookkeepers tasked to keep your records up to date and correct. We can offer a wide range of services all tailored to your requirements. With decades of experience across multiple industries ask us how we can help you above and beyond bookkeeping. Below ...

December 4, 2018

Keeping Safe

Cloud accounting is awesome, we all love the advantages of accounting on-the-go.. access your data and financials anywhere anytime. However, with leaps of technology comes risks of security and for many people the nerves of keeping data safe Here are some great tips on keeping your data safe; Use Two-Way AuthenticationMost cloud-based software now give you the option of two-way authentication, some mandate it to ensure your data is secure. Two-Way authentication places an additional layer of sec...

August 13, 2018

Getting Paid Faster

Admit it, cash is still king! We all need to keep our business going and growing. So how does one go about getting paid.. easy, here are some great ways of ensuring you get paid for the work you do. Make it easy for them It is important that the customer can easily pay you, yes some still like the good old cheque but give them quicker ways to pay. Look into credit card facilities and put them as a payment method for the customer to use to pay. Yes, they do cost, however the cost is worth the ben...

June 7, 2018

Budget & Cashflow - Whats the big deal

EOFY Fast Approaching This time of the year all the slogans start with EOFY this and EOFY that and although there are some great business bargains that are available, business owners must not neglect that with every financial year end comes a new financial year. A new financial year gives the opportunity for business owners to strategise on how they are going to work on their business in the next twelve months. If you have made the new financial year’s resolution that this will be the year tha...

May 30, 2018

Technology On-The-Go

Gone are the days of making that dreaded phone call to your accountant to say “How is my business going”? With today’s accounting technology you can keep track of your business on your smartphone. Historically we have seen clients being unable to keep track of their finances, have to put receipts together somewhere and hope they are not lost, scribble information on paper so that they can create a quote when they get back to the office. This stops here! With easy to install apps software p...

May 7, 2018

Bookkeeper - Internal vs External

Research shows on many occasions owners of business believe they don’t need any help when keeping on top of their accounting, however quickly realise that they spend more time doing their accounts and paying employees then the time actually spent promoting their business. Business owners are then challenged whether they should outsource their work or hire someone internally on a full time or part basis. The fact is that there is no right or wrong answer to this problem, it all depends on the a...

April 24, 2018

Bookkeeping vs. Accountants

It is critical for all businesses to keep close track of their financials and cash flow. Keeping track of transactions, expenses and cashflow can be quite overwhelming and in many cases is done incorrectly or manually; adding to extra costs at the end of the year. So you may ask yourself what the difference between a bookkeeper and an accountant is. Well firstly it is important that both parties work collaboratively for the best interest of you and your business. In summary a bookkeeper records ...

April 8, 2018

Leasing - How will it impact you

You may have heard by now the way leases are accountant for will change as of 1st January 2019. For many business it is business as usual, however if you have a lease you may want to start thinking about the impact this has to your bottom line. In effect operating leases will now have to be accounted on the balance sheet, meaning a greater impact to your profit and loss. Due to the new requirement to record operating leases, accounting softwares have been quick to respond with releases on how to...

April 3, 2018

Easter Break

As many of us are hunting for Easter eggs around the home, a large percentage of business owners are spending the weekend catching up on their invoicing, paperwork and quotes. By getting help from a bookkeeping firm owners can get back their time and hunt for those eggs.Technology has come a long way and there is a right package for every business regardless of their size. Understanding the business, its size and complexity apps can be identified which seamlessly connect with operating and accou...

March 29, 2018

Omnia attend #ABExpo2018

We attended the 2018 Accounting Business Expo and met with the latest providers of accounting and business services. The number of automated applications now available which integrate with major accounting software are numerous with accounting on the go the biggest winner.  If you run your business on the go, this era is for you with most applications now mobile allowing you to keep track of your business and complete many functions straight from your smart phone. In many cases these applic...

March 22, 2018

Single Touch Payroll

Single Touch Payroll reporting starts 1 July 2018 for those employers with 20 or more employees. Single Touch Payroll is an electronic method for reporting your employees' payroll information to the ATO at the same time you pay your employees. If you have 19 or less employees, you may need to report through Single Touch Payroll from 1 July 2019, subject to legislation being passed in parliamentThis means in many instances you may need to update your payroll solution to report through Single...

March 20, 2018 Posts 1-13 of 13 | Page