Accounting
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Accountant calls on large industry players to stop raiding SME staff
First 5000 | July 6, 2022Coco Hou, CPA and CEO of Platinum Accounting is calling on large firms to play fair and stop poaching staff from small to medium-size accounting businesses.
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Accounting for Business – Tips, Tricks, and Things to Know
Carolin Petterson | March 28, 2021Accounting is a crucial part of running a successful business. It involves managing your company’s financial records and making informed decisions based on that information. For businesses, managing accounting can be a daunting task, but it is necessary to ensure that the company is operating smoothly and efficiently. Here are a few must-know accounting tips […]
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COVID, business cash flow, legislation changes
Adrian Floate | February 8, 2021Australian small to medium businesses (SMEs) have a cash flow problem and despite government legislation implemented on 1 January 2021, many may not survive if lockdowns and trading restrictions continue.
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United call for Small Business Viability Review program in budget
First 5000 | September 30, 2020The nation’s peak accounting and bookkeeping bodies have joined forces with the Australian Small Business and Family Enterprise Ombudsman Kate Carnell to make a united call for a Small Business Viability Review program to be included in the Federal Budget.
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How accounts payable automation could help provide a road to COVID-19 recovery for businesses
First 5000 | July 28, 2020The COVID-19 recovery will be stronger if businesses keep cashflow moving by paying invoices on time. This will result in stronger supplier relationships and a better economic recovery, according to Konica Minolta’s Seth Butcher.
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Eight steps to an effective dunning campaign
Koben Williams | January 13, 2020If you sell to customers on credit, you are probably already using dunning letters. These are simple notes that tell a customer “Hey, you’re overdue. Can you please pay us?”
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Five key features organisations need in an accounts payable solution
First 5000 | November 20, 2019Accounts payable (AP) processes are often characterised by manual data entry and inefficient workflows that can hold businesses back and create extra work for staff members. AP automation software can save time and money, according to Upstream.
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Why SMBs should consider accounts payable automation
First 5000 | September 26, 2019Small and medium-sized businesses (SMBs) need to manage cash flow carefully however many are losing money due to inefficient invoice processing and manual accounts payable processes, according to Upstream.
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Late payments made by big business to SMEs worth $115 billion a year
First 5000 | June 24, 2019Half of all trade credit invoices are paid late and solving the problem would see small and medium businesses (SMBs) benefit by $4.38 billion over 10 years, according to a new report from Xero.
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Advisory focus should be on medium business clients
Mike Rich | November 15, 2018Too much time is going into promoting apps to small and micro business clients while Medium and large businesses account for two thirds of our economic activity and the revenue for most bigger accounting firms.
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ACCC investigates foriegn currency rip-offs
First 5000 | October 4, 2018Sending money overseas, and buying foreign cash, can be a major headache for SMEs, but possible rorts in the system will be the focus of a new ACCC inquiry into foreign currency conversion services.
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Time for a Royal Commission on the auditing profession?
First 5000 | October 2, 2018Professor Janek Ratnatunga, CEO of the Institute of Certified Management Accountants has criticised current corporate audit controls as being inadequate to reign in bad behaviour and called for an innovative approach to the audit and more severe penalties.
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Better auditing could lasso corporate cowboys
First 5000 | September 10, 2018Current corporate auditing procedures have failed to rein in bad behaviour and a new approach – and stronger penalties – are required to protect consumers.
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Accountancy at the crossroads
First 5000 | July 27, 2018The accounting profession has reached a crossroad and many firms are taking steps to restructure their businesses to ensure they remain relevant and successful in the future.
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The countdown to single-touch payroll
First 5000 | June 26, 2018Single Touch Payroll Reporting comes into effect on July 1 and national insolvency firm Jirsch Sutherland is urging employers to check their business practices are up to par or risk being caught out.