A very common question new users of QuickBooks have is “How do I record personal money used in my business?” One way is to use and equity type account called Owner’s Investment. Another method is to use a credit card type account. I prefer the latter.
Using a credit card type account allows you to keep business records completely separate from personal. Read more
Accounting is often a tedious activity that involves book keeping, tax and payroll and balance sheet preparation. The need for accounting is important in any firm and, without it; most of the companies cannot make accurate standing on their financial position and determine their actual profits and losses. It becomes necessary to outsource this task to qualified professionals and accounting firms so that you are able to save time and concentrate on your major line of work. Read more
As a business owner, you’re constantly jugging a host of decisions. Is it time to move your business to a new location? Do you need to expand your staff? Is it time to increase your advertising budget? Is it time to add a new product or service to your business’ offerings? These are not easy decisions. Read more
Creating a personal financial budget may not sound like the most pleasant experience in the world. But, you will need to set a personal financial budget to keep your financial house in order. Before you begin creating a personal financial budget, you need to realize that if you must be successful, you will have to give as much detailed information as possible. Read more
Every business such as small, mid and large generates day to day some financial transaction and if you need to keeping all the financial transaction records include purchase, sales, income, and payment by an individual or organization so, bookkeeping is helpful to keeping all the financial transaction records properly for your business.
With the proper bookkeeper service, business proprietors should be worry-free. Read more
If you were thinking of putting more money into your super contributions before the June 30 cut-off this year, you might want to think carefully about your decision. The cut off for the 2010 financial year has been reduced to just $25,000.
The cut-off limit has effectively been cut in half from last financial year, so if you’re under 50 and had planned to put a little extra into your super as a way to help reduce your tax liability, it’s important you’re aware of the limits and caps that have been put in place.
However, if you’re over 50, you’re able to only contribute $50,000 this financial year, instead of the $100,000 that was allowed last financial year – once again a cut of 50%.
Keep in mind that concessional superannuation contributions include the amount paid into your super fund by your employer, which include any amounts paid under salary sacrifice, as well as personal contributions claimed by self-employed people.
While most people might think that this sounds like a lot of money to put into super each year, the truth is the amount paid into your super fund by your employer is counted towards this total figure, as is the amount paid via salary sacrificing.
If you’ve had a pay rise throughout the last financial year, you may be closer to the threshold limit than you think.
For those people who go over the cap or limit amount for their age group, instead of paying 15% tax on your contributions, you’ll be penalised with a tax rate on the excess amount of 31.5%.
These new limits and caps on the superannuation contributions you make mean that as an individual you have the option of working out how much you wish to contribute into your super fun to reap the maximum benefits available for you. Read more
Fraud has always been a concern, but with the right preventative measures you can make sure that fraudulent activity in your business is either averted or caught early. There are many ways to protect your business from fraud, and good business accounting is one of them.
The first thing you want to do is ensure that only a select few people have access to financial documents, such as bank statements. Read more
Would you agree our society is consumer-driven? Arent we bombarded with advertisements when we watch TV, listen to the radio or surf the Internet? Dont companies spend millions in research to determine how we think, shop and live? After all our everyday choices at the mall or grocery store mean billions to their bottom line! Isnt it easy to see how these natural forces of free commerce distract us from our financial goals, and even lead us into debt? In spite of this, it is possible to achieve financial success.
What do we mean by financial success? Financial success is living within ones means, eliminating debt and saving for ones financial goals. Read more
The actual existing circumstances in lots of international locations get got extremely hard for you to forestall unpredicted bills. An example, may quit and not using an alternative when compared with to acquire rapid fiscal support, while situation occasions occur bumping. Rapid payday-loans present a new memorably excellent reply using this type of occasion. Read more
How is the life of an average Singaporean? More than 90% of the people born in after the 1980s have gone through at least the Minimum 10 years of education, ie from primary school (6 years) through secondary school (4 years, sometimes 5 years). We have been thought how to survive through education. But this only brings us to one result: getting a a large quantity of products from the same factory
This brings us to the topic of a rat race in Singapore. Read more