EOFY Payroll is not for the faint hearted

EOFY Payroll is easy right – I mean your accounting software does it for you so what have you got to worry about? A few clicks of a button and payment summaries are issued to staff.  Done, feet up and champagne cracked open.  But wait…. “If you don’t understand payroll and accounting terminology chances are your payroll is incorrect – FACT.” I know what you are thinking….my accounting data file…  Read more

SaaS …. Service versus Solution

What does SaaS mean to you? Traditionally, it means Software as a Service.  So generally the software is a subscription type model, where the user usually uses the software via a web browser. Now I have no issues of this type of product – my business wouldn’t be where it is today without cloud technology and the ability to work remotely. Especially as the three main types of this service…  Read more

How to avoid ending the financial year in a frazzle

As an Accountant, Financial Coach and Cloud Accounting Guru to start-ups and entrepreneurs, I often see clients come to me after 30th June filled with stress, anxiety, fear and embarrassment. “It doesn’t need to be this way.” So, instead of heading into the end of financial year in a frazzle, follow our simple checklist to being organised. It will make the tax return process so much smoother and easier, and dare…  Read more

An agile business will eat the slow: are you a turtle or a leopard?

It is 2016 and if you are not an agile business, you will simply get swallowed up by your competitors before you have a chance to adapt. Times are changing – and so are your surroundings. But are you aware of what is happening?  Business owners are becoming far more savvy, their expectations are much higher and technology is moving at a rapid pace. So where does an agile business…  Read more

How unpaid staff can cost your business in the long run

Unpaid staff sound great, but have you thought for a minute about the implications from a business, accounting, tax and legal perspective?   I know, I know – starting a business is hard work. Cash flow is ….well….often non existent, so advertising for a volunteer role, or an unpaid role, unpaid staff (or any other variation of those terms) does sound like a solution to all your problems. Hallelujah. But…  Read more

Stop getting confused – GST and Income tax are two separate things

I hate being taxed twice – I am going to write to the Government and give them a piece of my mind about GST and income tax. Yes – this was a comment from a recent (*new) client of mine who was still coming to grips with being a new business owner, being registered for GST and then paying tax via his “full time” job at the same time.  …  Read more

2016 Budget – whats in it for you?

The 2016 Budget creates hype, excitement and a mad rush of spending…..but first lets make sure the rules actually apply to you. Last night the treasurer delivered his 2016 Budget and naturally, economists, accountants, business owners and politicians are all in a tizz (me included). But first things first, let’s break it down and take a look at the important announcements and how they may (notice I say may) relate…  Read more

I don’t have mothers guilt, and I am a better person for it

Isn’t it funny how we automatically assume a successful woman in business who is also a mum MUST have “mothers guilt” for working hard and assume they are missing out on quality time with their children. Recently I attended an event run by BSchool in Melbourne where the speaker was Carolyn Creswell from Carmen’s Muesli fame.  I have always wanted to hear Carolyn speak – but our diaries never seemed to align…  Read more

Don’t treat your customers like idiots (especially if you want to grow your business)

When customers buy from you, please don’t treat them like an idiot. Customers and fans are the future of your business. This week I was researching business products that I could purchase to then give to my clients at end of financial year.  You see, as an accountant, EOFY is kind of a happy time for us -we tend to celebrate 30th June like it is Christmas. I found some…  Read more

It is OK to be a “different” accountant – own it!

Stacey Price accountant Today in a Facebook group I am part of, we were asked if we were to go back to Day 1 of running your business what advice would you give yourself? “And it got me thinking – what would I tell myself – now that I know I am not a “traditional” accountant?” I mean, when I started my business it all kind of happened overnight.  I…  Read more

Stop the contradictions on outsourcing

Earlier this week I got into a bit of a “bun fight” within a Facebook group as I tried to show people how their contradictions about outsourcing effects small business in Australia. Sadly it was clear I was in a minority – but that doesn’t mean I will change my views.  Sadly I also think people will learn the hard way – costing them time and stress. Yes, the age…  Read more

How to spot a rogue accountant

You don’t want a rogue accountant on your team…you want someone you can trust – with knowledge, experience and a lot of credible advice and care. Here is something I wrote which was published on Smart Company earlier this month…no Rogue Accountants at Healthy Business Finances. For original article, click here. Many small business owners and entrepreneurs understand the benefits of leveraging outsourcing to scale their business. Smart business owners…  Read more

Don’t miss out on a great opportunity

“Don’t get caught up in your own business so much that you miss out on a great opportunity”. This past weekend was crazy time for my business – Business Activity Statement deadline with the ATO and only one month shy of launching my new membership based business assisting startups and entrepreneurs with financial education and training (FEAT group if you want to take a peak – just a landing page – but…  Read more

Dear JB Hi-Fi – you are not accountants…don’t try to be

Clker-Free-Vector-Images / Pixabay Dear Mr JB Hi-Fi Firstly, congrats on a great range of laptops in your Airport West store. You see, this week my laptop decided to go to laptop heaven. So, in a mad Friday 3pm dash I did the rounds of technology shops. To be honest, I really don’t understand computer specifications, so I need to ask for advice and get help (and try not to get…  Read more

How inaccurate job costing can bleed your business dry

When you work in a service based industry, part of your life becomes focused on what you have quoted for a job and what it actually costs you. Well, let me rephrase that – it should be focused on that.  Fixed prices, monthly packages, paid upfront, deposits collected or a combination of all of these – if you are not accurately looking at and recording costs per job, you business could…  Read more

What the Essendon saga teaches me about future proofing my business

Those who know me, know that I love my footy.   I grew up in the country and watching football on tv on a weekend was a family pass time.  Today is a sad day in AFL – and one that has a huge impact on Essendon (and its supporters) not only today but for years to come. THIRTY four past and present Essendon players have been found guilty of doping…  Read more

You don’t have to love numbers….but you should understand them

As a business owner – you have an obligation – part of that obligation is understanding what your numbers tell you.  You need to understand cash flow to pay your suppliers and the ATO.  Ignorance is not an excuse. I know what you are thinking….it is that harsh Stacey again throwing around her comments about numbers and ATO – blah blah blah.  Well yes – it is me. As soon…  Read more

A bookkeeper, BAS Agent and Accountant walked into a bar…

Just kidding – numbers nerds don’t have a life! So what is the difference is between a Bookkeeper, a BAS Agent and an Accountant?  And who do you need in your business?  They all serve a purpose – but a different purpose. Sometimes we all just get lumped together in the “numbers nerds” pile – however I am here to tell you that what each of these roles can legally do…  Read more

Cold Calling tips: Sometimes you have to give to receive

People seem to forget that business is a two way street. Yes, you might have a wonderful product or service to offer, but you shouldn’t be throwing that at every person that walks past.  You need to work out if that person needs your product or service.  This should involve communication – and not of the spam variety. So often lately I have been receiving what can only be described…  Read more

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