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Mark Bailey's Articles in Bookkeeping

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Australian Small Business - Basic Guide to Keeping Your Books with Bookkeeping Melbourne So now you’ve started your business and you’re getting in good custom. You believe you’re making a profit. You have to file your BAS and make your GST payments as well as record your income tax. How much exactly is your income and expenditure? Is your business venture as profitable as you think it is? The Taxes Affecting Small Businesses Small business owners have to account for a number of taxes to the Australian Taxation Office in line with the tax legislation affecting small businesses. You’ve got to account for the income tax payable on your business, the GST or Goods and Services Tax and superannuation in keeping with the Australian taxation system. Business Reporting- Critical Facets of Running A Small Business If you're a small business owner, you want to make sure your business is a profitable enterprise. You want to know how much cash your business is generating and how far you can extend yourself in credit with your vendors and suppliers. You'd like to have a snapshot or overview of your business performance to aid in negotiating for more funds from bankers to expand your activities. Business reporting is therefore a critical facet of running a small business.