Bookkeeping/MYOB

Thumbnail image for When Bad Things Happen to Good Data
By January 26, 2012

Sometimes less information can be a lot more informative. This is usually the case when it comes to producing meaningful reports from your accounting software. Don’t get me wrong, detailed reporting can provide tremendous insights for management. However, for many small businesses, too much detail results in too little information that’s genuinely useful. Just because your ...

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By May 2, 2011

Another Monday and another nifty “Ratio to Know.”  Last week we took a look at the Current Ratio. One of the disadvantages of the Current Ratio was the fact it did not take into account the actual composition of the assets. The Quick Ratio (commonly called the Acid Test) goes ...

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Thumbnail image for Bookkeeping Fraud on the Rise
By May 1, 2011

The Association of Accounting Technicians issued a media release last week, prompted by the recent spate of large scale bookkeeping fraud prosecutions.  These cases involved hundreds of thousasnds of dollars and highlight the need for business owners to ensure the bookkeeper they engage is ethical and that the appropriate financial ...

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Thumbnail image for Understanding Financial Statements
By May 18, 2010

Understanding financial statements is a task that many business owners often put aside to concentrate on something more interesting. This results in many business owners not really knowing what is going on with their business, especially the cashflow control within the business. Cash is the lifeblood of any business and ...

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By April 22, 2010

Successful small business operators allocate the time each month to fully review their financial data so that they clearly understand the financial health of their business and are able to take remedial action – if any is necessary. As I was home sick today, it gave me a chance to ...

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Thumbnail image for MYOB Software Has a New Name
By March 31, 2010

I was installing the new MYOB suite of packages last night and realised I haven’t yet informed our readers about the recent changes to MYOB. Basically, the more common MYOB packages are now part of the MYOB AccountRight range. The new range includes AccountRight Standard (previously MYOB Accounting), AccountRight Plus (previously ...

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Thumbnail image for New Law for BAS Providers
By March 1, 2010

Today the new Tax Agent Services law came into effect. For the first time, bookkeepers and others who provide BAS services will be regulated. The newly formed Tax Practitioners Board will take of the place of the original Tax Agents Board and incorporate BAS providers as well as registered tax agents. What ...

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