As the financial year draws to a close, business owners can still take advantage of any benefits that could be available and ensure the business is in good shape for closing one financial year and entering another. Here are some specific matters to be considered in time for 30th June 2019.
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CLOUD ACCOUNTING NEWS
Latest news about cloud accounting including Xero, WorkflowMax, Class, Sage Handisoft, and integrated POS software from Billings + Ellis, experts in cloud accounting.
Single Touch Payroll (STP) reporting for employers with 19 or fewer employees will come into effect from 1st July 2019. Is your business ready?
Single Touch Payroll (STP) reporting for employers with 20 or more employees (as deemed to be a ‘substantial employer’) came into effect on 1st July 2018 in accordance with new Australian government legislation. From 1st July 2019, this reporting requirement will also most probably come into effect for employers with 19 or fewer employees.
So, what is Single Touch Payroll? How do you prepare for STP? What changes do you need to make? The following simplified explanation could help you better understand Single Touch Payroll reporting and how to get ready for the transition.
For many businesses, Xero doesn’t need an introduction. But if you’re not familiar with Xero, it’s cloud accounting software that allows access to your business finances anytime from anywhere via your internet-connected device. Xero lets you collaborate with your accountant, bookkeeper, and staff in real-time. Billings + Ellis is proud to be a Xero partner and even prouder to have recently achieved Xero Gold Partner status. So how does an accounting firm become a Xero Gold partner and what are the benefits?
Single Touch Payroll (STP) reporting affects employers with 20 or more employees (known as a substantial employer) and commences 1st July 2018 in accordance with new Australian government legislation. So, what is Single Touch Payroll? How do you prepare for STP? What changes do you have to make? The following should help you better understand Single Touch Payroll reporting and how to get ready for the transition.
How much time do you spend entering data from supplier bills into Xero? How about sorting those crumpled receipts for expenses? If you’ve got better things to do with your time than sifting through paperwork and entering data, you’re going to love Receipt Bank. Receipt Bank reads the data from bills in any format – even camera shots of receipts. Receipt Bank enters the data into Xero for you, and saves a PDF of the original document in Xero.
Vend is suitable for many different kinds of retail trading situations where a modern POS system system with powerful features is needed. Vend integration with Xero provides a seamless, end-to-end POS and accounting solution, and has proven ideal for many businesses such as:
Billings+Ellis is using Class software exclusively for handling the superannuation and self-managed superannuation funds of the firm’s clients.
What do we like about Class for SMSFs?
Class allows us to administer and audit SMSFs with greater efficiency, which in turn helps us to keep costs down and our services and fees more competitive.
Point-of-sale (POS and also EFTPOS) software integration with Xero cloud accounting can now bring the benefits of a complete end-to-end accounting system to small businesses including retail stores, restaurants and cafés, hotels and bars, all manner of service-based businesses such as hairdressers and car repairers, and even highly mobile businesses like market stalls and pop-up stores. Some POS systems are also suitable for use with online stores.
Now the end of the calendar year is fast approaching, and many businesses shut down or partially close over the Christmas and New Year period, it is a good time for business owners to focus on areas they would normally put to the bottom of the pile. These may include:
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