A successful business is made of a good idea, the right market for that idea, a huge amount of dedication and hard work – and accurate bookkeeping. As near as anyone can tell, the practice of bookkeeping may have originated about 12 thousand years ago, and not much has really changed.
Bookkeeping is something every business needs – and needs to do well. It’s one of the most important components of success in the modern business world. The days of keeping the firm’s records in a cigar box ended before most people alive today were born.
Single Touch Payroll has been designed to streamline employer reporting to government agencies, an initiative implemented by the Australian Government. With STP, employers have the ability to report employee payroll information to the ATO with STP-enabled software.
Pay As You Go (PAYG) instalments is a taxation system used by the Australian Taxation Office (ATO) to help businesses manage their tax obligations. For businesses to navigate the complexities of the Aussie tax system and ensure correct compliance, it’s crucial to understand Pay As You Go instalments.
Whether you’re interested in a career in bookkeeping, or you’re doing a deep dive into the reasons, benefits, and traits to look out for when hiring a bookkeeper for your business, there are a number of fundamentals to consider.