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WNA Blog Home » Accounting Articles

The Benefits of Being In Small Business… From An Accounting Perspective

March 12, 2018 | Grant McCarthy

There are a number of tax benefits to being a self-employed person and being in business. A small business is annoyingly defined in different ways by the Tax Office. All concessions apply if your business turnover is less than $2 million a year with net assets under $6 million. Consider: 1. Accelerated Depreciation. Depreciation records […]

Super + Women = SuperWomen!

February 27, 2018 | Grant McCarthy

Superannuation is a topic which for most of us is too complicated, too confusing and too boring. Unfortunately it is important. It’s also an area that women traditionally get the raw end of the deal compared to men. Here’s why (broad brush): 1. Women have a longer life expectancy than men. 2. Women take more […]

Car Log Books – Throw Out Your Paper Logbook!

November 29, 2017 | Lisa Stoneham

It seems like there is an app on your smartphone to make your life easier for everything these days.  Gone are the days where you need to rely on pen and paper to manually record and keep track of everything. The traditional car logbook can now be handled with an app that will make your […]

Job Management – It Really Will Save You Time and Money

October 31, 2017 | Lisa Stoneham

There is a range of cloud-based tools to make it easier to manage jobs better, get paid quicker and run your business smarter. The good ones integrate into your accounting software too, so you get multiple benefits from them.  Gone are the days of scribbling job details on yellow sticky notes to get lost. A […]

Get Ready – It’s Annual Update Time!

September 1, 2017 | Simone Pentis

Given that most franchise systems within Australia follow the standard Australian Financial Year of 1 July to 30 June, we are fast approaching the expiry of the 4 month period, Franchisors have from the end of their last Financial Year to have updated their Disclosure Document. Additionally, for those Franchisors with marketing/co-operative funds, they must […]

Get Paid As Quick As A Flash!

June 16, 2017 | Lisa Stoneham

One of the major causes of cash flow stress in a business are your customers’ taking too long to pay you (or not paying you at all). Many a business has been forced to shut its doors due to this problem. If you want your customers to pay you quickly you need to make it […]

Goodbye Paperwork!

May 15, 2017 | Lisa Stoneham

This may not be the advice you expect from a bookkeeper, but with a smartphone and an app, keeping track of your business is simple. Tools like Receipt Bank and Squirrel Street connect in to online accounting systems, allowing everyone in your business to keep up-to-date from anywhere. These tools have OCR technology that enables […]

Financial Enlightment – Understanding The Numbers

May 11, 2017 | Dianna Jacobsen

When running a small business, much emphasis is put on [ominous music….] the ‘dreaded financials’!  These two words are designed to strike terror into the hearts of small business owners everywhere! We are meant to ‘make friends’ with our Financials, to use them to make informed decisions, to feel empowered, and for leverage towards some […]

Business Structures – Sole Trader

March 24, 2017 | Katherine Hawes

In Australia, there are four main business structures commonly used by small businesses.  They are; sole trader, partnerships, companies and trusts.  Each structure has its advantages depending on the needs of the business in the areas of tax, asset protection, control and succession, flexibility as well as set-up and ongoing costs.  In this blog we […]

Do You Know If Your Business Will Have Any Cash Next Month?

March 17, 2017 | Lisa Stoneham

In my last blog post we explored the annual budget. The sixth and final part of our series of blog posts on ‘Understanding Your Numbers’ will look at the cash flow forecast to identify what information it provides and how to make the best use of it. Your Cash Flow Forecast report is an estimate […]