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Accounts Receivable and Accounts Payable Accounting – Why Critical for Small Business?

10 Dec

The first question that might come to your mind is – What is an Accounts receivable and whether I need to take care of A/R accounting for my small business [1]? Accounts receivable (A/R) shows what others owe to the business enterprise at any point of time. Accounts receivable accounting comes into play generally when your business does sales on credit. When a cash sale is done, there is no receivable due from customers, hence no need to have A/R records. However, when a business has credit sales on its books, the amount due from customers are generally recorded as Accounts ...Read More

Posted in Accounts Receivable Services | Comments 0 Tags: , , ,

Goods and Service Tax: GST Accounting in Australia

6 Dec

Goods and Service Tax (also referred to as GST) is a kind of Value Added Tax prevalent in Australia and is applicable on supply of taxable goods and services. [1] Goods And Service Tax Get Accounting In Australia If you are running an Australian business and the annual turnover of your enterprise is above the minimum threshold (as fixed by the AU tax laws from time to time), you may be required to get registered for GST and pay the tax. Depending upon the actual turnover (or likely turnover for the year) and other prescribed laws – you either would be required to ...Read More

Posted in Accounting Outsourcing Services | Comments 0

Quickbooks Online – India Presence

30 Nov

Quickbooks is one of the leading accounting platforms primarily serving markets of USA – UK and Australia. Quickbooks offers both desktop version and online version for businesses to manage their finances and accounting. Quickbooks has a strong hold in the US market and is also increasingly being considered as an accepted vendor for other countries including UK, Australia and Canada. [1] Quick Book Online India Presence Quickbooks offer a highly versatile and flexible option for business stakeholders to ensure the finances are managed in the best ways and acceptable by the GAAPs applicable for a country. Quickbooks has recently launched its online ...Read More

Posted in Accounting Outsourcing Services | Comments 0

How to Know the Correct Time to Outsource Payroll Services?

27 Nov

Every business owner has a horde of work to accomplish [1] on daily basis. Outsourcing payroll services results in saving a lot of time and money for a business owner. The responsibilities covered under Outsourcing payroll services include preparing salary checks, handling employee and company tax issues, preparing and filing quarterly reports, state disability and unemployment issues, issuing statements at year-end and paying withhold to various private and government agencies. If you are looking forward to outsourcing payroll services, you need to consider following tips: Explore The Options: Look at the various options available for outsourcing payroll services. Don’t ...Read More

Posted in Outsourcing Payroll Service | Comments 1

Accounting and Bookkeeping in XERO for Small Businesses

26 Nov

XERO is an online accounting platform and is gaining huge acceptance in all countries including New Zealand, Australia, UK, US and Canada for accounting and bookkeeping of small and medium sized businesses. [1] Accounting And Bookkeeping in Xero for Small Business The key reasons which may have played major role in making XERO a huge success is the ease of use, access flexibility (being an online platform) and the support team. Today, when the world is moving towards increased connectivity in all aspects of business verticals and cost cutting being a thrust for all business owners, there is no reason why off-shoring would ...Read More

Posted in Accounting Outsourcing Services, Accounting Services For Small Business, Bookkeeping Service | Comments 0

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