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Accounting Trending Articles

What Is the Difference Between an Accountant and a Bookkeeper?
Accounting

What Is the Difference Between an Accountant and a Bookkeeper?

Bookkeepers don't require a degree to do their job in keeping and managing your business's books. Accountants are professionals with a degree, who play a strategist and consulting role in your business finances. Hiring an external accountant is an investment to avoid bad financial decisions and keeps you out of trouble with the ATO. Aren’t bookkeepers and accountants the same thing? It’s a fair (and common) question. But the short answer is no. A lot of people get it wrong, not knowing that...

1.93K views

How to Find the Right Accountant for Your Small Business
Accounting

How to Find the Right Accountant for Your Small Business

When starting a business, you need your accountant to offer certain services, such as business structure advice, accounting system advice and setup, and tax/compliance services. After you've established your business, you may need a new set of skills or services from your accountant, like...

3.44K views

How to DIY with Cloud Accounting Systems
Accounting

How to DIY with Cloud Accounting Systems

Regardless of their state of progress and size, every business should keep accounting records. Fortunately, the world of the Internet and high tech allows for easier integration and use for all savvy business-owners through a lot of online accounting systems. Get fresh insight into the benefits,...

1.71K views

The Similarities & Differences Between Bookkeeping and Accounting
Accounting

The Similarities & Differences Between Bookkeeping and Accounting

5.32K views

Accounting

How to Understand Your Profit and Loss Statement

Generally, every business owner's profit and loss report will be split into two main parts: revenue and expenses. What exactly is the sales revenue and what are the two main categories in your "expenses" section? Use this guide to understand your profit and loss statements and keep the financial...

1.24K views

Accounting

Understanding a Balance Sheet

In order to understand how our business is tracking, we need to be able to read our balance sheet. What are assets, liabilities and owner’s equity? What equations should we keep in mind?​ Read on to learn exactly what a balance sheet is and the information you need to understand as a business...

1.36K views

The Top 5 Accounting Influencers in the World
Accounting

The Top 5 Accounting Influencers in the World

For those of you who are not familiar with Klout, it is a fairly popular way to measure your influence online. You basically link all your social accounts to Klout and it will spit out a number out of 100, that tells you how "influential you are". The exact algorithm is not known but it takes a combination of the number of followers as well as the amount of interaction and engagement you get from your followers.  So who are these influential people under the search term of accountants?  The...

6K views

A Review of MYOB, Xero and Quickbooks: Which is the Best Accounting Software for Sole Traders?
Accounting

A Review of MYOB, Xero and Quickbooks: Which is the Best Accounting Software for Sole Traders?

Many small business owners struggle with accounting but thanks to technological advancements, most accounting tasks can be trusted to accounting software.  MYOB, XERO and Quickbooks are among the well-known accounting software that has proven to work effectively for sole trader businesses.  Read...

6.51K views

Do You Need an Accountant to Help Write Your Business Plan?
Accounting

Do You Need an Accountant to Help Write Your Business Plan?

Hiring an accountant to help write your business plan ensures you start off on the right foot. It gives you a better chance to raise funds or get a small business loan approved. Writing a business plan can be a complicated process, and whether you are trying to raise funding, preparing to launch,...

1.45K views

Accounting

5 Mistakes to Avoid When Choosing and Hiring an Accountant

Accounting helps you keep a track of your transactions. Maintaining accurate books of accounts is crucial to your business as it helps you make important business decisions. There are some mistakes that business owners need to avoid when hiring an accountant, whether hiring an in-house accountant...

2.37K views

Will Accountants Be Obsolete in the Future?
Accounting

Will Accountants Be Obsolete in the Future?

Yesterday a good friend asked me if I was worried about the trend of things becoming cloud-based and so easily available online. Whilst I could see his point, I assured him I was most certainly not worried about our company, the industry or the potential that our own Cash Flow Forecaster software...

2.58K views

The Pros and Cons of Cloud Based Online Accounting Software
Accounting

The Pros and Cons of Cloud Based Online Accounting Software

2.7K views

Accounting

Making the Most out of MYOB Accounting Software

Businesses has completely transformed after the advent of technology. Initially, businesses are not ready to accept the change due to various reasons such as complete change in system, learning the new tools and techniques etc but later they understood the benefits and considered it as the need of...

1.42K views

Accounting

A Comparison of the Best Online Accounting Software for Small Businesses

Online accounting software for small businesses is becoming more and more popular in Australia.  You don't have to buy expensive online accounting software options for your business anymore. Cloud computing software solutions are here to help you. What is the best program for small business...

63.72K views

A Guide to Automating Your Business Accounting System for Success
Accounting

A Guide to Automating Your Business Accounting System for Success

Once a business has a good accounting system, it's quite easy for a business owner to understand and take control of the numbers and create consistent cash flow. A great accounting system has a reporting process that provides insight into what the business can do to grow the bottom line and the bank account. Cloud accounting software has really empowered businesses by integrating with other business software and apps for streamlined business.  Read on to learn more about the benefits of...

3.55K views

Are You Getting The Most Out of Your Cloud Accounting Software?
Accounting

Are You Getting The Most Out of Your Cloud Accounting Software?

Gone are the days that your accounting software is just a means to an end for sending invoices, preparing your BAS/IAS or giving your accountant the data they need to prepare your end of year financials and tax returns. As a business owner myself, I too saw our accounting software more as a...

3.41K views

What Are the Qualities of a Good Accountant? 7 Important Things to Look Out For
Accounting

What Are the Qualities of a Good Accountant? 7 Important Things to Look Out For

How do you know if an accountant is good or not? Is it only about the numbers or is there more to it? A great accountant not only keeps the numbers intact... they should be your long-term business partner and work with you towards your long-term vision of the company.  We'll help you uncover the...

5.28K views

5 Ways Accounting Software Saves You Time and Money
Accounting

5 Ways Accounting Software Saves You Time and Money

1.82K views

Accounting

8 Big Reasons Why Entrepreneurs Need to Hire Accountants

As an entrepreneur, getting your  finances right from day 1 is crucial to the survival of your startup. Taking into account the number of startups that fail in the first 3 years of business and the challenges that entrepreneurs face on a daily basis, it’s evident that start-up businesses must...

1.52K views

Accounting

7 Accounting Blunders Most Small Business Owners Make

Accounting is not as simple as adding and subtracting numbers. In order to save costs, some small businesses decide to handle their own accounting, which may not be a good idea. Accounting mistakes are costly, and could also lead to the failure of the business.  Financial mistakes can stunt your...

1.19K views

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