Accountancy: Counting Together

Hello, my name is Stuart and I live in Sydney, Australia and this is my accountancy blog. I have always loved numbers. When I was a little kid, my granddad would sit me on his knee and make me recall the times tables. I also remember counting all the money in my piggy bank and my dad explaining the concept of compound interest to me. Although I didn't enter the accountancy trade, I still keep in close contact with the industry and like to keep up with what is going on. I hope you find this blog very useful and that it helps you to save a little money one way or another!

2017

Tax Returns: 4 Types of Information Needed by Your Accountant

8 May 2017

If you own a business and you need to sort out your tax affairs, going to see an accountant is a great idea. A qualified accountant can fill out any necessary paperwork while also making sure that you are not paying too much tax. However, when you meet with your accountant, it is important that you bring the correct documents with you. Below is a guide to 4 documents you should bring along to your accountant's office.
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What Small Business Owners Can Do When Administration Gets Out Of Hand

26 April 2017

Call it procrastination, or just being too caught up in everything else, but small business owners frequently need to play "catch-up" when it comes to their bookwork and financial records. The pressure is definitely on when it comes to the end of the fiscal year, as well, but with some planning and forethought there is no need to endure these panic situations. What can a small business person do to put in place better practices, so that there aren't any nasty surprises in store?
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Home Office Deductions When You Own Your Home: A Look at the Basics

25 April 2017

If you are an independent contractor, a small business owner or anyone else who runs a business from a home office, the Australian Taxation Office allows you to claim deductions for your home office expenses on your tax return. In most cases, you can write off a portion of your utility bills and rent based on the space your home office takes up in your home. If you own your home, however, the write off is slightly different.
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Why You Should Take the Threat of a Tax Audit Very Seriously

25 April 2017

Death and taxes. Supposedly, the only two things that are guaranteed in life? Either way, if you're in business in Australia you know that the tax season comes around all too quickly. You've got to pay attention to getting this right, or you risk an audit by the dreaded ATO. What do you need to pay attention to, especially when it comes to your record-keeping capabilities, if you're going to avoid an unwanted visit?
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Filing Business Taxes: Documents to Bring to Your Accountant

21 April 2017

If you need to file your taxes, going to an accountant is a great option, since they will get it done promptly and answer any questions you have. When meeting with the tax accountant, it is good to be prepared ahead of time by bringing all the important documents. Here are some of the essential ones to gather now. Financial and Income Documents The first category of documents you need to bring to your accountant includes anything that shows your income for the previous tax period.
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Basic Accounting Terminologies You Should Know to Guide Your Business Operations

20 April 2017

As a business owner, don't just be green and stay in the dark about accounting and financial operations that take place in your company. Having some basics of accounting principles and terminologies will help you a great deal in handling your company's growth and finances. These comprise of general concepts and rules that govern accounting as a profession. Income statements, balance sheets, statement of cash flows and sample transactions are some encounters you will meet when dealing with accounting operations in your company.
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