If you’ve recently set up your Xero account and need a little bit of guidance with regular day-to-day tasks, you’re in luck! We’ve pulled together a quick checklist for you, covering some of the most common tasks you’ll need to be across to get the most out of Xero.
You’ve made the decision to adopt Xero for your small business, and now it’s time to get it up and running. We’ve pulled together a quick checklist to help guide you through the set up stage, with some helpful links to Xero resources for more information.
We find a lot of businesses get really confused as to what they can/can’t claim and if there are any Fringe Benefits Tax consequences to the entertainment they provide to their staff and associates as a result of Christmas festivities.
As a small business owner too, we know how busy EOFY can be. So, we’ve pulled together 14 tax considerations for Business Owners, to help you prepare for your 2022 Tax Return.
Is a ‘cost-plus’ pricing strategy the best for your business?
There are many pricing strategies and the one you select should align with your greater business strategy. Get to know which option suits your goals best.
As a business owner, it’s critical to have a good understanding of how your business is performing. After all, keeping a close eye on the health of your business is how you’ll determine whether your current strategies are working, or if you need to adopt new ones. Key Performance Indicators (KPIs) are metrics that will help to determine this.
Determining your business structure is one of the first decisions to make as a new business owner. And it’s also one of the most important. Each structure comes with its own set of benefits and liabilities. So, understanding how they will impact you day-to-day is key to building a solid foundation for your new business.
A Partnership business structure is made up of two or more people or entities. Most small business Partnerships are what is termed ‘General Partnership’ – this means that all of the partners are equally responsible for the management of the business, and each has unlimited liability for the debts incurred.
A Trust business structure is where there is an obligation imposed on a person (Trustee) to hold property or assets (such as business assets) for the benefit of others (Beneficiaries). The trustee is legally responsible for the operation of the Trust and you may have a company act in this role.
