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Does Your Bookkeeper Have a Clue?

bookkeeper induction program
Having a bookkeeper induction program will add value to your business.

Having accurate business records is vitally important for any business — and most of that hinges on accurate account keeping. If you’re a small business looking to hire a bookkeeper, you want someone who’ll be able to manage all of the data entry and coding for your company accurately and efficiently.

The best way to ensure this is to have a bookkeeping induction program. Continue reading Does Your Bookkeeper Have a Clue?

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Setting Up Automatic Bank Feeds In Xero

Many accountants and businesses are now using Xero instead of MYOB so it's important for bookkeepers to be trained in this.
Many accountants and businesses now use Xero instead of MYOB.

In our last post we talked about the developments that have occurred over the last few years in the accounting software space; one of which was the introduction of Xero to the marketplace. Since then, a huge number of accountants and businesses have switched to Xero.

Xero has quickly gained momentum in the accounting software space, and while it’s important for bookkeepers to be skilled in MYOB, it’s becoming increasingly important that they’re also skilled in Xero as well. Continue reading Setting Up Automatic Bank Feeds In Xero

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Will Xero Dethrone MYOB as the King of Accounting Software?

Xero may not have toppled MYOB's crown, but they've certainly forced them to find new ways to remain relevant.
Xero may not have toppled MYOB’s crown, but they’ve forced them to  remain relevant.

We’ve been offering MYOB training courses for a very long time and that’s largely because they have long been the market leader in accounting software.

But in the last few years there’s been a definite shift in the accounting software space, and with cloud-based technology, a number of other players have entered the marketplace. Continue reading Will Xero Dethrone MYOB as the King of Accounting Software?

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You Can Still Be a Valuable Bookkeeper Without a Cert IV

Cert IV Bookkeeper
You don’t need a Cert IV to be a valuable bookkeeper for small businesses.

In our last post about getting bookkeeping clients for free, we mentioned how the Institute of Certified Bookkeepers (the ICB) only adds bookkeepers to its Practice Directory who are Cert IV-qualified. Having a Cert IV qualification in bookkeeping enables you to apply to the Tax Practitioners Board to become certified to provide BAS services to your clients.

Only Needed for Lodgement of BAS

However, most of the work carried out by a BAS agent is work that can be completed by a bookkeeper without a Cert IV; it’s just that only registered BAS agents can lodge a BAS return for their client.

So while it may be useful for some contract bookkeepers to get their Cert IV qualification so they can lodge their client’s BAS returns among other things, it’s not necessary if you only want to manage the data entry for your clients.

Bookkeepers Needed for Data Entry

In fact, bookkeepers carrying out data entry is one of the core functions required by a lot of small businesses and sole traders because they have become too busy to look after it themselves and because it takes them away from their core work.

An experienced bookkeeper that can look after a business’ books is still an incredibly valuable asset to any business, and as more and more Australians go into business for themselves, the demand for bookkeepers is going to increase.

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So if you’ve completed our LIFETIME access MYOB Training Course with the certificate option, contact us today to arrange to have your profile placed on the MYOB Bookkeeper Directory.

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Introducing the MYOB Bookkeeper Directory

MYOB Bookkeeping Directory
The MYOB Bookkeeper Directory: Helping to connect bookkeepers with clients

At EzyLearn we’re passionate about helping our students start their own bookkeeping businesses — it’s why we offer a suite of training courses to help you hone and develop the skills you need to start your own bookkeeping business. But we’re even more passionate about helping those people and businesses succeed long after they first start trading.

Two-Way, Trusting Relationships with Your Bookkeeping Clients

The key to your success as a business owner is having a pool of customers who need and value your work just as much as you need and value their business. This two-way relationship helps to establish trust; the foundation of every successful business relationship.

But sometimes finding these customers is difficult, even if you’ve been in business for some time already. This is where EzyLearn can help.

The MYOB Bookkeeper Directory: Connecting Bookkeepers with Clients

The MYOB Bookkeeper Directory is a service that helps connect bookkeepers with clients. Effectively, it’s a talent pool in which bookkeepers create and upload a profile of their business, their skills, location and so on, to the MYOB Bookkeeper Directory.

Each time a business is looking for a bookkeeper whose skills or location matches your profile they can make contact with the MYOB Bookkeeper Directory team, who will vet those businesses before putting them in contact with you.

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For EzyLearn students who have completed our MYOB training course, paid for lifetime access and receipt of the certificate, we are offering you a free 12-month membership to the MYOB Bookkeeper Directory. (Membership fees are usually $97/12 months.)

If you are interested in taking up this offer, drop us a line or contact our team by phone.

 

 

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The EzyLearn MYOB Course Community

At EzyLearn we offer a handful of online training courses: Microsoft Office (Excel, Word, PowerPoint and Outlook), MYOB Accounting, and WordPress website design and blogging. There are many companies who promote courses online and that’s just what they do — promote courses online — but we try to be a little different.

Here’s why:

  • We offer only a handful of courses and we do them very well
  • Our courses come with LIFETIME Membership
  • As a student you receive fresh, new content without paying extra
  • Where possible, we provide real life exercise files so you can work with the software.

Our Online Community

Our experience with thousands of students has taught us that some students need more interaction than just the videos. They also like to bounce off other people to better understand the software they are learning.

That’s why we provide our Student Community and Tutor Support — to provide our students with the ability to communicate with fellow students, as well as ask questions of our experienced community moderators. It’s like having your own tutor that you can ask questions to who can provide quality answers based on their own experience in their relative industries.

Our students range from job seekers to small business owners and existing bookkeepers wanting to learn more, to accountants who may be thinking of leaving the corporate world and setting up a small business for themselves (or even seeking greater work-life balance).

Qualified Moderators

Our student support community is moderated by our MYOB Bookkeeper and Registered BAS agent, giving students the benefit of both communication with other course attendees (to socialise and to learn) as well as obtain answers to specific questions.

Annual Membership

Our Student Community and Tutor Support is provided on a yearly membership basis and you can continue or opt-out as you please each year. The service is available to existing EzyLearn students or new students enrolling into any one of our courses.

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Become a MYOB Training Affiliate Marketer

We prefer our affiliate partners to have done our online MYOB course so they can truthfully recommend it to their friends.
Earn money working from home on the Internet.

At EzyLearn, we’re passionate about helping people follow their dreams and start their own businesses.

We have a number of opportunities available to people who would like to partner with EzyLearn and start their own home-based business.

Start Your Own Bookkeeping or Digital Business Continue reading Become a MYOB Training Affiliate Marketer

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Your Business Accounting Software: Is it Working Best for You?

Is your business accounting software - and your business bank account - saving you time? It should be!
Is your business accounting software – and your business bank account – saving you time? It should be!

In a previous post we wrote about business bank accounts. Some banks, even though they offer business accounts, aren’t actually all that business friendly, and this can sometimes add hours to your bookkeeping and reconciliation processes.

Not all Business Accounts are Created Equal

If you’re starting a new business and going to open a business account, we recommend you do your research and shop around, because not all accounts are the same.

Some business accounts integrate nicely with your accounting software, while others, like a Bank of Queensland account, for example, does not because they transferred their credit card service to Citibank, preventing integration with the Banklink feature of MYOB.

Other business accounts don’t allow businesses to have a Visa or MasterCard debit card attached to their business account and only allow businesses to make online purchases using their own money.

Business owners can only use a linked credit card to make online purchases or a separate debit card. Either option still results in additional journal entries in your accounting software.

End of Financial Year – Best Time to Get Business Friendly

If you’ve been battling with your current bank, now that we’re approaching the end of the 2013/14 financial year, it might be the time to consider moving your accounts elsewhere so you can start afresh come July 1.

Or perhaps it’s not your bank that’s playing havoc with your bookkeeping – perhaps it’s your bookkeeping software. As we approach a new financial year, it might be a good time to consider switching your account keeping software to MYOB, or something simpler, like Xero (we have written in the past comparing the two).

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At EzyLearn, we provide a range of training courses for a number of different accounting programs from the basic Reach Accounting to the more sophisticated MYOB. For more information on our training courses, visit our website.

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Become a MYOB Training Course Affiliate Marketer

Get paid for promoting our proven course to your friends by becoming an affiliate partner.
Get paid for promoting our courses

Earn Income by Simply Recommending Our Courses

We are looking for anyone who has completed our MYOB training course to become an affiliate marketer and earn money by recommending our training courses to people you know.

How Does Affiliate Marketing Work? Continue reading Become a MYOB Training Course Affiliate Marketer

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MYOB Training Courses and Small Business Bookkeeping Inductions

Our online MYOB training course is like an induction into the world of bookkeeping.
Our online MYOB training course is like an induction into the world of bookkeeping.

Our MYOB training courses are more than just training course in software. They also function as a quasi induction to the life of a bookkeeper, in that they train you in the day-to-day processes and procedures of a bookkeeper as well.

Even though you still need to have completed a Certificate IV in bookkeeping to become a registered BAS agent, you can still provide clients with basic bookkeeping services if you’ve done our MYOB training course.

Quizzes and Knowledge Reviews

The MYOB workbooks provided in the training courses contain practical exercises that students can complete to familiarise themselves with the software, which they are then later tested on to through a series of quizzes and knowledge reviews.

By the time you’ve completed our MYOB training course, you’ll be proficient not just in the MYOB software, but also in the day-to-day of a professional bookkeeper.

Some of our previous students are already business owners themselves and our MYOB courses provide them with the necessary skills to take care of the data entry and bookkeeping for their own business.

An Entry Point to Your Home-Based Business

But a good many more of our students also use our MYOB courses as an entry point to starting their own home-based bookkeeping business, providing other businesses with data entry while they’re completing a Cert IV in bookkeeping.

This is a great way to familiarise yourself with the bookkeeping process while you’re still learning, and even help you to network with accountants who could later help you become certified with the Institute of Certified Bookkeepers and supervise your work.

We also offer a Small Business Management Course to help those people thinking of starting a home-based bookkeeping business develop a business plan, carry out marketing activities report on financial activity, and so forth. Currently we’re offering this course for just $897 (for a short time only!).

For information on our courses, visit our website or contact our team.

 

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When Should You Work for Free?

It's ok to do work for free, but your clients should be made aware of the extra value you're adding.
It’s ok to do work for free, but your clients should be made aware of the extra value you’re adding.

In our Small Business Management Course there is a module on determining and setting your prices, which includes factoring in things like travel expenses if you’re going to be visiting clients and so forth.

But what about things like, installation costs – should you bill your clients for this or work it into the price or just let it slide?

Some businesses work those sorts of prices into their final cost; others – think Foxtel, for example – charge installation fees; but a surprising number of businesses let it slide. Continue reading When Should You Work for Free?

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Feedback from Students About Our Online Training Courses

We value - and need - your feedback about our online training courses.
We value – and need – your feedback about our online training courses.

Over the years, we’ve provided online training to numerous Australian – and international – students, whether via our flagship MYOB training course or one of our Excel or WordPress courses, or our more recent Small Business Management Course. Over the years these students have provided us with valuable feedback.

The feedback we receive from our students helps us to understand what’s working and what isn’t, which is why it’s invaluable to us that you get in touch and let us know what you think.

It was based on the feedback we received from our students that we decided to develop our Reach Accounting and Xero training courses. It is also based on the feedback we received that we changed the way we issued our certificates so that students received them faster and could use them to find work.

Recent Feedback

Here’s just some of the feedback we’ve received from our students recently:

“I found the workbooks the most helpful for giving practical experience.” — Karen Dimitri, Glengowrie SA 5044

“The best part is that you can do it on your own time and pace.” — Juliana van Wyk, Hilton WA 6163

“Short, easily digestable videos. Can fit in easily with a busy lifestyle.” — Korina Power, North Shore, Auckland 0630

“I could learn at my own pace.” — Jackie Smith, Sheidow Park, SA 5158

“Doing the workbooks and watching the videos at my own pace has helped me a lot in pursing the current workforce requirements.” — Merritt Ray, Loganholme QLD 4129

“I was able to finish the whole course in just a couple of weeks.” — YoonOck Lee, Atwell, WA 6164

“By watching videos on one particular topic and doing a test straight after relating to those videos, you don’t become too overwhelmed with too much information.” — Michelle Bankstown, NSW 2200

“I am happy as I could completely the course at my own pace. It was easy n simple to understand. As a mother I felt the course was very time efficient. Looking forward to putting my knowledge into action.” — Kimberline Francis, St James, WA 6102

“This course is best for me because I can access any time from home, I can replay any video provided when I didn’t understand.” — Mika Humphreys, Innisfail, QLD 4860

“Everything within the course itself was great. I liked the most how easy it was to understand and navigate through.” — Katie Davis, Whyalla, SA 5608

“Being able to actually move around the sample company file to get a feeling of how the software is structured, made me have more confident.” — Joy Khoo, Mudgee, NSW 2850

“The best parts of this course is that we get freedom to learn and complete this course in your own suitable time. There is not so much pressure that you have to complete in certain time limit. I would advise and recommend this course from EzyLearn to international students who want to further their career in bookkeeping and accounting. It was a great privilege to be part of your institute.” — Prabin Gurung, Auburn, NSW 2144

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We’d love to hear from you too. Get in touch via our course evaluation page.

 

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Small Business Finances: Should You Start Your Business in the Red?

Don't fall into a credit trap by running into debt to finance your small business before you even have your first customer.
Don’t fall into a credit trap by running into debt to finance your small business before you even have your first customer.

The ‘Plan small business finances module‘ of our Small Business Management Course takes students through the steps to creating a financial plan for their small business. Many small businesses get loans and credit from banks and other finance institutions, but how wise is it to get into debt before the doors to your business are even open?

Is Credit the Best Way?

About 20 years ago, the only way businesses could make payments easily was to apply for a credit card from a bank. The bank would then give you an amount of credit, $5000 say, and the more you used it, the more credit you would be offered.

This is great if you have the means to pay it back immediately – and if you do actually pay it back immediately. However, if you’re like most people, having access to large sums of money that can be paid back at a later date – in 30 days, 55 days, 3 months – can lead down a dangerous path for your small business.

Start-Up Finance

We spoke to one entrepreneur who had an idea to start a gourmet packaged meals business aimed at a demographic of busy professionals. He had planned to go the conventional route and borrow $200K to finance his start-up; even though at this point, he didn’t have a single customer.

But there were plenty of other options available to get his business off the ground, rather than getting into debt before he even had his first customer. We suggested using another company’s equipment, contracting the manufacture of the products to another company, or re-branding an already existing product.

The term used in the start-up community for using your own money is called bootstrapping. But it’s one way to guarantee that you will do all the research and determine the most cost efficient way to run your business before outlaying substantial sums of money on equipment or other overheads.

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With new technologies like cloud-based software and high-speed internet, many small business owners have been able to significantly reduce their overheads, which has enabled them to avoid starting their business in the red.

Business is about taking calculated risks for a reasonably predictable reward and it really all comes down to research and knowledge. Live with an asset mentality and don’t get caught in the credit trap. You’ll find out all the best financing options for your small business in our Small Business Management Course.

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Small Business is about Doing

It's time to roll your sleeves up: our Small Business Management Course gets you working on a real life business idea.
It’s time to roll your sleeves up: our Small Business Management Course gets you working on a real life business idea.

As Australia’s leading provider of online training courses, we deliver all kinds of different training courses – and we’ve recently branched into providing online induction training courses to business. But where EzyLearn’s flagship course, the MYOB training course, teaches practical skills in using one of the most popular accounting software packages, it is a completely different kind of course to our Small Business Management Course – and for good reason.

Thinking as if You Own A Business

Our Small Business Management Course is designed to make you think like a business owner. Where our other software-based courses are designed to systematically guide you through a particular software package, our Small Business Management Course needs to be different.

As a business owner, you’ll be thrown curve balls from many directions – especially when you first start out – and the key to surviving them is being able to think objectively and without bias.

You’ll need to be able to problem-solve and sometimes develop new approaches to existing business practices or activities. Running your own business means having a plan, but not always operating to it.

To complete the course, you need to be able to demonstrate that you possess the required skills to successful operate your own business – by researching, thinking and writing.

A Real Business Idea with Tutor Feedback

The Small Business Management Course is deliberately structured so that as you work your way through the course content, you’re applying the exercises and skills you’re learning to a real-life business idea. Then, once you’ve complete the course, you’ll go live with this business idea.

The course gives students an unusual and unique advantage over other soon-to-be business owners because our students get feedback from a tutor that they can then apply to their business strategies.

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This is what makes our Small Business Management Course so popular – because you’re learning with your real business idea, where other business courses merely have student complete exercises or answer questions in relation to hypothetical business scenarios.

If you would like to learn more about our small business management course, visit our website or enrol here.

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Amway and Multi-Level Marketing at a Glance

Avon and Amway rely on independent business owners to market their products to their network of friends and family.
Avon and Amway rely on independent business owners to market their products to their network of friends and family.

In a previous post we talked about your own online business opportunity and how you can buy EzyLearn enrolment vouchers for our MYOB training courses at wholesale price, that you can then sell on to your own clients and contacts at retail price. We have sold enrolment vouchers to other training organisations for some time, but it also presents an opportunity for bookkeepers to expand their services to include training for their clients. If you’re wondering why someone would want to sell another business’ products or service, then take a look at one of the most successful multi-level marketing businesses, which relies on people to do just that: Amway.

Amway: Topping $10 Billion

Founded in 1959, Amway is one of the worlds oldest and most prosperous multi-level marketing companies. Like other well-known multi-level marketing businesses such as Avon and Tupperware, Amway utilises a workforce of distributors (known as independent business owners, or IBOs), who directly market the Amway products to their own network of friends and contacts; Amway expands its network of distributors by encouraging their IBOs to recruit and train new people into the Amway business for which the IBO receives a fee.

IBOs purchase Amway products at wholesale prices, and then sell those products at the recommended retail price; the difference is the IBO’s to keep, and in many ways, the Amway business model isn’t that different from your typical bricks-and-mortar business that stocks and sells the products of other companies.

For years the success of the Amway business model relied entirely upon IBOs developing and building their own network of clients, to whom they sold the Amway products. If you’re familiar with the catchphrase, “Ding dong, Avon calling” this pretty much encapsulates how Amway, Avon and the distributors of many other multi-level marketing businesses, won and retained their customers — pounding the pavement and ringing doorbells.

And it was a pretty successful business model, too. According to Forbes, Amway’s revenue in 2012 had reached $10.9 billion worldwide, making them the twenty-fifth largest private company in America; in Australia and the Asia Pacific, Amway’s revenues totalled more than AUD$198 million, while the number of distributors topped more than 100,000 in Australia, alone.

Social Media to Target the Younger Generations 

In 2010, however, Amway saw an opportunity to use Facebook, Twitter and other social media platforms to expand their reach. As a business that relies on typical social networks to grow and develop their customer base, utilising social media to grow and develop their customer base online, made sense.

Where other organisations weren’t quite sure what to do with Facebook, Amway did as they had always done: cultivated good relationships with their customers. Their goal was to target a younger demographic that was not the typical Amway customer. Because social media platforms like Facebook naturally skew to a younger demographic, Amway’s decision to include social media in their marketing strategies paid off.

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If you’re already working as a bookkeeper, you can expand your range of services and pick up some extra revenue in the process by selling EzyLearn’s enrolment vouchers. Contact us to find out more.

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Bookkeepers: Stand Out from the Crowd and Become ICB Certified

You'll stand out by becoming ICB certified and BAS registered.
You’ll stand out by becoming ICB certified and a registered BAS agent.

Many of the students who take our MYOB training course in order to start their own bookkeeping business wish to then become certified with the Institute of Certified Bookkeepers (ICB).

How to Get ICB Stamp of Approval

Since 2006 the ICB has had a set of requirements bookkeepers must meet before they are permitted the ICB stamp of approval. Among these requirements – which also include possessing a Certificate IV in Financial Services (Bookkeeping) and personal indemnity insurance – all bookkeepers seeking to become certified with the ICB must possess a minimum of two years’ working experience.

For many bookkeepers starting out, getting that two years experience is a tough hurdle, particularly since the vast majority of bookkeepers in Australia are, according to General Manager of the ICB, Rick van Dyk, “independent sole traders”. “That’s why the ICB holds networking events at 59 locations around the country,” Rick says. “Because the best way to get the experience you need to become an ICB certified bookkeeper is to network with other bookkeepers.”

The ICB also holds online webinars each month, but Rick recommends attending networking events in person, because it provides you with more opportunity to network and get to know other bookkeepers.

Good Ways to Gain New Business

While it may seem like a lot of hoops to jump through in order to obtain membership to an organisation that’s voluntary, being an ICB certified bookkeeper does set you apart from the many other bookkeepers; it’s also a way of gaining new business, as the ICB is often the first port-of-call for many businesses looking for a contract bookkeeper.

But Rick van Dyk says that if your really want to stand out as a contract bookkeeper, become a registered BAS agent. “If you’re a contracting bookkeeper, you can look after a client’s data entry and do their reconciliation, but you’re not allowed to print any of the reports and advise your client on figures and so forth, as that contravenes the Act,”

Rick explains. There are currently about 9000 registered BAS agents in Australia, so there’s plenty of opportunity for bookkeepers to enter into this field by becoming a registered BAS agent with the Tax Practitioners Board.

Rick also offers this last piece of advice to budding bookkeepers-to-be: “Learn to use Excel; Excel still plays a very important part of the bookkeeper’s role, so it’s important bookkeepers know how to use it – fluently.”

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You can find more information about out MYOB course here or our Excel course here. Alternatively, if you’d like more information about becoming certified by the ICB, visit their website.