November Update

Hola Lovely Clients!

THANKS

It’s been a busy few months! Thanks for all the work for last quarter. Much appreciated. For a few of you, it was a race to the end of the final BAS lodgement date. Just one straggler left!

PAPERWORK

Part of your agreement with me is that I need your paperwork to me as soon as possible after the end of the quarter, so I can schedule the work and have enough time to process. For the December quarter, all paperwork must be with me by the end of January at the latest, please. I prefer to get paperwork monthly. It’s easier on my schedule. It also means you can see how your business is doing, monthly. Thanks to everyone who got their paperwork to me on time! It really does make everything run more smoothly!

I know Christmas and New Year is generally a very busy time for 80% of you, so please still be mindful of your compliance requirements.

It bears repeating – if you send me crumpled and unreadable documents, receipts, invoices and so on, I can’t extract any meaningful information from them. Don’t leave thermal receipts anywhere they are rubbing up against anything, anywhere it’s hot, or anywhere they get crumpled. They need to be readable for 5 years!

HOLIDAYS

I’m taking a small break from Thursday, 1st December for two weeks. Actually, I’m still working, doing payrolls and so on, just from another location. It’s half a holiday. Kind of. I’m in Sydney (west) if any Sydney people want to meet up (I won’t have any transport for much of the time). I’ll be in my old stomping ground, the Eastern Suburbs, at least one of days, if not more.

I’m still contactable (call is preferable) but like last time, the internet where I’ll be is generally non-existent. I will be tethering my iPhone to my laptop, for the most part, to access the internet. That’s slow, cumbersome and doesn’t have much bandwidth or allowance. To that end, I’d very much appreciate payroll information by midday please. If it’s at all possible, I will travel over to where there’s free Telstra Air on payroll days – Mondays and Thursdays.

NEXT BAS & SUPER

Next BAS is due on 28th February. Super is due for the December quarter by 28th January.

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Eat Pray Love

After too many years of not going anywhere significant for longer than a day trip, in March I travelled to Sydney for four days. I’m not such a good airplane passenger (and no, it’s not about falling out of the sky) and I’m not great out of my comfort zone, but somehow I negotiated the horrors of Sydney Airport and all that walking with 25 years of arthritis plus being in very unfamiliar places. In the ensuing days, while catching up with old friends, I also survived the shock of  how much Sydney has changed in 17 years.

Being a regular glutton for punishment, I’m planning to repeat the experience in just over a week. This time, for a little longer. I’ll be in Sydney to eat, pray, love, and I’ll be back at the end of June. Well, maybe just one or two of the three eat, pray love things, but I’m not saying which. I’m gliding into the unknown, but hopefully not into an abyss. Not sure what the universe has planned for me, but I plan on having some rest, relaxation, and fun.

There’s no internet broadband where I’m staying in Western Sydney, but I will have limited 4G access (via tethering devices to my iPhone), and I’ll have better access where there’s TelstraAir in the shopping centres, if I can get to them. I know, who doesn’t have broadband these days? Where I’m staying, my friends don’t have it.

I won’t have transport in Sydney as far as I know so I’m not sure how any of that is going to work yet.

I will still be doing a little work, most notably payrolls on Mondays and Thursdays (have I ever let you down?), while Gabi will be taking care of other work tasks in my office, but only where she’s been given specific permission by you to access your Xero file.

Many of you know my daughter Gabi from her growing up in Byron Bay. For those of you who don’t know, Gabi is a qualified beauty therapist and was a retail fashion management guru for many years. She’s also a 3rd generation bookkeeper, having learned from me,  from studying and from having a bookkeeping job over the last few years in large Southport-based group of entities. It’s in our heritage! I started learning from my late father when I was a teen, and my biological mother was an accountant.

Gabi also eats details for breakfast.

Holiday Payroll Request

I would very much appreciate it if you could prepare your payrolls and have them to me by midday, please.

I’m only planning one shot at processing on payroll days while I’m on holiday because I won’t have the opportunity to keep checking for your payroll information.

I’m happy to be contacted by phone, email and SMS if you have any issues. If I don’t answer my phone, please do leave a message and I’ll contact you ASAP.

 

 

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December Quarter BAS

Hello!

No idea where January went. It flew by! I had a few days off, here and there and the relaxation was very welcome!

On-Time Paperwork

December Quarter BAS is due for lodgement and payment by 28th February. For quarterly clients, all paperwork for October, November and December should have been on my desk by now. If you haven’t sent it yet, please do ASAP. I can’t stress enough the importance of getting your paperwork to me in plenty of time, and getting queries answered promptly, otherwise I can’t guarantee on-time processing and lodgement.

Thanks to those of you who’ve provided info on time, and it’s great I’ve been able to complete processing for most of you. The rest of the work already on my desk will be completed shortly.

Sad News

My beautiful 12yo Border Collie, Charly, passed away on Monday 25th. She had a burst tumour on her spleen, and got very sick, very fast. Many of you knew her. She was a sweet, gentle dog and she’s very much missed. She was a huge part of my life.

Assets and Finance

If you have purchased a motor vehicle or any other asset, please provide the original invoice and any finance documents so I can process correctly and upload the documents to Xero for your accountant.

So, 2016 is in full swing! Let’s get your bookkeeping up-to-date!

Another bookkeeper posted this in a Xero group.

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Minimum Wage Increase

The national minimum wage increases by 2.5% from 1st July, 2015.

This increase applies to employees who aren’t covered by an award or agreement and also applies to juniors, trainees, apprentices, employees with a disability and to piece rates. Most employees are covered by a modern award. Check FairWork Award Finder if in doubt

The new national minimum wage will be $656.90 per week or $17.29 per hour.

FairWork says you can’t get two separate pay rates for the one pay period. Therefore, if a wage increase applies to an employee on the 1st of July then it covers the first full pay period after that date.

In other words, if they are being paid for a fortnight that covers one week in June and one week in July, the employer needs to pay at the old rate for the fortnight straddling June and July, and to apply the wage increase from the first full pay period commencing after the 1st of July.

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Immediate Asset Deduction Law Passes

Immediate Deduction for Assets up to $20,000 Becomes Law

All small businesses can immediately deduct every asset costing less than $20,000 purchased since Budget night (May 2015), and can continue to do so until the end of June 2017.

Please check with your accountant if you are unsure. Certain purchases still need to be capitalised.

Small companies with a turnover of less than $2 million will benefit from a 1.5 per cent tax cut from 1 July 2015.

 

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Stocktake

Hello Lovely People!

A quick reminder for you in case you need to do some planning…

June 30th means a stocktake for some businesses. Whether you sell wholesale, have a retail store or even a cafe or nightclub, any goods that go into making Sales need to be accounted for – you will need to do a stocktake on Tuesday.

Hopefully your accountant will thank me for reminding you!

Have a great weekend!

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Running a Business Checklist

Here’s an awesome checklist of things you can do to keep your business running smoothly  – things to discuss with your accountant, things you may need others to do, and more things for you to consider. Pick what you need and go!

“Good business practices will help ensure your business is well run. A well-run business will help place your business in the best possible position to respond to whatever trading conditions you face, and help you move your business in the direction you want it to go.” CPA Australia

Your accountant will usually send both of us a list of documents required to do your business tax. Most notably you’ll need bank & credit card statements covering 30/6/15. Why not grab them in July and upload into Xero’s files section? If you’re not sure how, call me!

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