THE ULTIMATE GOAL of a job site (and they are not all created equal!) is to deliver the highest volume of candidate applications to the job poster (the recruiter or employer), while also providing candidates (job-seekers) with access to the highest volume of top-quality job listings.
Since recruitment classifieds moved online more than two decades ago, the ease with which job-seekers could apply for jobs increased.
JOB SITES ARE IN ABUNDANCE in Australia. The market leader is Seek, which controls 85 percent of the online recruitment market. Most job site advertisers use Seek because they will get the widest and potentially best range of job applicants and job seekers.
Typically, if you’re looking for a good-quality job that doesn’t tie you to a specific industry — the way journalism ties journalists to the media industry, or construction work ties builders and plumbers and cabinet-makers to the construction industry — you’ll find it on Seek. But here are 8 more website you can use.
But while there are close to a dozen cloud accounting systems on the market, most bookkeepers — thankfully — will only need to know their way around three: Xero, MYOB and QuickBooks. If you’re looking for a course or training resource on these programs we have a combo offer.
However, very few systems are dedicated to helping the bookkeeper, tax or BAS agent or accountant manage their clients — that’s the builders and tradespeople, virtual assistants and online shops and retail outlets they provide bookkeeping and tax services to. Until now.
Usually, these bookkeepers will work on a casual basis, once or twice a fortnight, at the business’s premises, which means they’re provided with a desk, computer, and desk chair.
Unfortunately too many business owners don’t make their casual bookkeepers a priority; often relegating them to a desk piled skyhigh with un-filed documents, old or broken technology, ergonomically unsound chairs, and probably a thick layer of dust on nearly every surface.
Think about your bookkeeper’s health
Aside from sending a clear message that your casual bookkeeper’s contribution to your business isn’t valued, it can also play havoc with their health, particularly when it comes to unsteady or broken office chairs.
Over time, sitting incorrectly on an office chair that’s broken or not adjusted correctly can contribute to back problems and muscle pain, because it places large amounts of pressure on your back muscles and the spinal discs. Poor posture and slouching can overstretch the spinal ligaments and strain the discs, which can damage the spinal structures. It’s also pretty hard to produce your best and most accurate bookkeeping work under these conditions.
Consider hiring remote bookkeepers
If you’ve been guilty of shoving your casual bookkeeper off to a workspace in the corner, with the wonky office chair and desk lined with dust, or even if you do just some of these things, it’s time to think more about how much you value your bookkeeper’s contribution to your business. This leaves you with a couple of options: invest in new office equipment — desks, technology, and ergonomic chairs — which could set you back a few thousand dollars, or hire remote bookkeepers instead.
A remote bookkeeper will cost you less, as they don’t require workspace in your office, so you won’t have to provide the office technology and furniture. And remote bookkeepers only bill you for the time they spend working on your accounts, not the time they spend making cups of tea and chatting around the watercooler.
Want to find a professional, reliable bookkeeper to work for your business, remotely?
National Bookkeeping is our online directory of bookkeepers and includes data entry clerks, BAS agents, accountants and CFOs. These people are trained and qualified bookkeepers willing to work all over Australia and ready to help you now.
Wiise, which is owned by the deep pockets of KPMG and will operate under a strategic partnership with Microsoft and the Commonwealth Bank, will combine cloud accounting, job costing, workflow scheduling and inventory management, payroll, sales and marketing and customer relationship management into one system.
Pricing hasn’t been confirmed, but it’s understood Wiise will operate a tiered model, costing businesses between $60 and $200 a month.
The software will integrate with all major Australian banks, but added functionality will be given to CBA customers, such as access to working capital and financing options.
Businesses that have outgrown their cloud accounting system
Although Wiise will target SMEs; founders KPMG, Microsoft and CBA say the software isn’t competing with MYOB, Xero or QuickBooks for customers.
Rather, the Wiise software will suit complex businesses that have outgrown traditional cloud accounting systems, because their business operates in more than one location, has a complex supply chain, various legal entities or high transaction volumes.
The Wiise software will suit complex businesses that have outgrown traditional cloud accounting systems.
Wiise will also appeal to businesses that want to use one piece of business software, rather than multiple separate systems or cloud-accounting add-ons.
That said, it’s probably a worry to MYOB, which signalled it would grow market share by pursuing bigger and more complicated businesses; acquiring the enterprise reporting system Greentree in 2016.
As a general rule, most small businesses want to spend as little time worrying about compliance as possible, which is as it should be. Simple businesses with straightforward tax and compliance requirements typically stick with simple cloud accounting systems.
So there’s value in bookkeepers that typically services larger, more complicated businesses learning more about Wiise, but probably not for bookkeepers that look after smaller, straightforward businesses.
Who’s Managing Your Business Accounts?
If you’re a business owner trying to decide on an accounting system, speak with your bookkeeper or tax agent to determine the best option for your business.
If you’re looking for a reliable bookkeeper or tax agent to manage your business accounts, visit the National Bookkeeping website to find someone professional, able to work in your office, or remotely, to suit the needs of your business.
Can you make real money by selling stuff on Amazon?
NOW THAT AMAZON has launched in Australia, one of the hottest work-at-home opportunities is to become an Amazon seller, especially if you become part of the “fulfillment by Amazon (FBA) program”, which is due to launch in Australia in 2018, along with Amazon’s “fresh” program.
In the FBA program, there are no upfront costs, and sellers don’t hold any stock or have to worry about shipping products to customers — they just have to find items to sell on Amazon.
How the FBA program works
Amazon collects products from sellers and stores them at their fulfillment centres (currently, just one centre based outside Melbourne, with another planned for Sydney). When a product is sold, Amazon ships it to the customer.
Amazon fees and charges are subtracted from the sale (sellers only pay Amazon to collect items and bring them to the fulfilment centre, not to ship to customers) and the remainder is deposited into an escrow account for a few weeks before it’s released to the seller.
Amazon vs. eBay
The Amazon FBA program is unlike any offering on rival marketplaces. Besides, not dealing with the logistical side of selling products online, Amazon sellers don’t create product listings and don’t deal with customers in any way.
By contrast, people who sell items on eBay are not just responsible for holding their own stock and shipping it to customers, but they also deal with customers every step of the way — from questions about the product through to shipping and disputes. It’s a time consuming process.
It’s similarly time consuming for buyers, who have to navigate a minefield of listings and seller pages; checking prices, shipping and seller ratings to make sure they’re getting the best deal. On Amazon, you search a product, click on the listing, and decide to buy. It’s as though you’re buying directly from Amazon.
Will the Amazon model work in Australia?
Amazon’s FBA program (and its marketplace in general) has been extremely successful in the United States (Amazon’s share price is trading above $1,100 U.S., after all), but the U.S. is a huge and very different country to ours. Each state has different sales taxes; prices for simple household items like toothpaste can vary state-to-state, and there are hundreds of large- to -medium department stores that operate in some states, but not in others.
The Australian market is far more homogenous. We have one national sales tax (GST), prices are fairly uniform across each state and territory, we have a half dozen department stores, and they operate nationally; we’re also a much smaller market.
Since Amazon’s launch in December (it’s FBA program hasn’t launched yet, though there are plans to), most shoppers reported being underwhelmed by the offering — it was limited, expensive, and shipping times too long. Items were often more expensive on Amazon than to purchase elsewhere. This could just be teething issues, due to the rushed launch, but it could be illustrative of how the Australian retail market had prepared for Amazon’s impending launch by tightening up their own offerings, and making it a lot harder for Amazon sellers to compete.
How to find goods to sell
People go to Amazon to find items they’d traditionally find at a department store, only much cheaper. That’s Amazon’s game: cheap. If you’re going to sell goods on Amazon and be successful at it, you need to be really good at procuring items that are in high demand, but can be sold far cheaper than anywhere else.
Amazon is the place you go to for books, music, DVDs, household appliances, shoes, clothing, toys, and so on. It’s not the place for unique one-offs — you want that; go to Etsy. Or if you want it secondhand, then eBay, Facebook Marketplace or good old Gumtree. On Amazon, you sell anything, whether you have a personal interest in it or not; if there’s a margin that’s favourable, sell it.
On Amazon, you sell anything, whether you have a personal interest in it or not; if there’s a margin that’s favourable, sell it.
Most people who sell on Amazon in the U.S. make money by engaging in retail arbitrage (an Amazon app lets sellers can scan the barcodes of items in retail shops to see whether it’s worthwhile reselling them on Amazon), but this would be hard to replicate in Australia.
Retail stores in Australia have higher prices due to the cost of employing staff. We have a national minimum wage remember, and the U.S. does not. In some U.S. states, the minimum wage is as low as $6 an hour, while others may be as much as $12 an hour. In California, where people earn $12 an hour, goods in shops cost more than in a state where people earn $6 an hour. This presents an opportunity for Amazon FBA sellers in the U.S. that is unlikely to ever exist in Australia.
How do you make money?
There are lots of online training courses promising to train you in the ways of Amazon’s FBA program. Some even promise to help you find inventory that’ll always be profitable — typically private label items, rather than via retail arbitrage — and teach you the dark arts of Amazon promotion — so you’re one of the top sellers on the site. (This has nothing to do with seller ratings, which don’t exist on Amazon.)
Starting out with private label items can be dicey, and it’s probably only a good idea if you’re already selling your own items on eBay, but you’re looking for an easier alternative. Again, Amazon is a good place to sell books, video games, clothing, toys, etc; handmade jewellery, clothing or furnishings: not so much.
And this is not about shaming or pointing the finger. Getting behind in your bookkeeping happens to some of the best businesses. It can be because an inexperienced person has previously been handling the books; you didn’t have the right systems in place to keep on top of it; or maybe your data file was set up incorrectly.
Diagnosing rescue bookkeeping
If your business has any of the following issues, you probably need rescue bookkeeping:
Your bank balance in Xero or MYOB doesn’t match with your bank statements
Bills have been paid, but they’re still showing as outstanding
There are many different reasons why people get behind in their bookkeeping. If it’s because the business owner lacks the time and let their bookkeeping pile up, it’s usually easy rectify, though it is time consuming. (There’ll be months and months worth of transactions and receipts to code and keep records of.)
If their data file was set up incorrectly, it’s sometimes a little harder to diagnose and it’s even harder to fix. It’ll need to be set up again and all of your transaction data re-entered; again, there’ll be months and months worth of transactions and receipts.
What happens during a bookkeeping rescue?
When you first meet with a bookkeeper, they’ll review your records to determine what your problem might be, and what needs to be done to get your bookkeeping up-to-date and in shape.
Given the volume of work and the complexity of it, your bookkeeper might not be able to tell you exactly how long it will take to get your accounts under control. They’ll generally have a ballpark idea of how long, but nothing concrete.
When your bookkeeper starts working on your accounts, they’ll be in fairly regular contact. You’ll need to be available to respond to emails or phone calls during this time.
Recently, I wrote that a lot of bookkeepers are losing out to accountantsbecause business owners prefer the cheapest and easiest way to stay compliant. Rather than employing a bookkeeper AND an accountant to lodge their tax returns and activity statements, many business owners choose to hire an accountant only so they can deal with just one person but are they really getting value for money? When it comes to finding a good bookkeeper at this skill level business owners have the choice of hiring:
Registered BAS Agents,
Their accountant’s internal bookkeeper,
An external, independent finance manager
Many good bookkeepers these days have trained as qualified BAS agents, which allows them to complete and lodge activity statements for their clients and other BAS services. The skill sets of a BAS agent and an accountant performing BAS tasks are the same, so they usually charge the same, but does your accountant really do your BAS or basic bookkeeping work?
Accountants perform higher level duties, such as financial planning, and their fees for this service are inline with what some experienced finance managers charge but when it comes to basic bookkeeping tasks they often hire a junior bookkeeper and charge them out at a lower rate but this rate is often much higher than if you hired this type of bookkeeper directory – so what are you paying for?
Pay for what you need, not what you don’t
Think about your business needs. Most micro and sole trader businesses will rarely need the expertise of an accountant. But hiring one means that you’ll need to stay on top of your bookkeeping (reconciling your account, etc) because accountants won’t perform these tasks — they may outsource it, which can be costly because your accountant will be managing the bookkeeper and adding a margin to their rate as a management cost.
These businesses should instead hire a BAS agent, who can also perform bookkeeping work as well as lodge activity statements and in this situation they could just use a tax agent like ITP or H&R Block. Depending on the amount of work to be completed you could directly hire a junior or Level 2 bookkeeper and have that person perform a lot more of the bookkeeping function and office administration work and with cloud-based software like Xero & QuickBooks and Office productivity tools like Google G Suite the work can be done remotely.
If you want someone to manage all of your finances — keep track of inventory, credit management, etc — and also provide financial reporting and planning services, a finance manager is the way to go as this person can also provide guidance to your office admin and junior bookkeeping staff.
Who does an EzyLearn course?
Lots of EzyLearn students complete an MYOB, Excel or Xero course because these software programs are demanded by employers, but we also receive enrolments from lots of bookkeepers and accountants who want to learn the cloud-based accounting software programs as well as up-skill in MS Office and Digital & Social Media Marketing. If you are a bookkeeper or accountant and need CPD courses check out our Bookkeeping Academy.
Start a bookkeeping business and work from home
Every business needs a good person with numbers and many small businesses and startups are focused on what they do best – and it’s rarely accounting. Learn about the bookkeeping business startup options..
I’VE BEEN IN BUSINESS since my early twenties but it wasn’t until my late twenties that I had any clue about how larger companies use and pay for software. I was going through the process of selling a water filter business that I’d been operating in Sydney’s Dee Why when I had the pleasure of meeting the owner of Fountainhead Water Company, Mark Darling.
Fountainhead used a specialised accounting system for the bottled water business which did everything from receipts for each delivery to capturing bottle deposits, tracking rental coolers and more — and Mark was paying hundreds of dollars per month for this software. It was a far cry from purchasing the MYOB software for a couple hundred dollars and NEVER upgrading (no payroll at the time).