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Xero, MYOB, ERPs and Supply Chain Tools

man-studying-xero-online

ERPs, or Enterprise Reporting Planning systems, are divided into three categories or tiers. Xero, MYOB, QuickBooks and other cloud accounting software used by small businesses, sit at the low end of the scale; they’re tier three ERPs.

Xero is using it’s 3rd party app integrations and its API to climb up the ERP food chain and some good bookkeepers are being dragged up along with it.

Continue reading Xero, MYOB, ERPs and Supply Chain Tools
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MYOB Launches Single Touch Payroll Trial Product

LAST WEEK, MYOB LAUNCHED a beta trial of its single touch payroll (STP) product, as it gears up for the July 1, 2018 compliance deadline.

Businesses with 20 or more employees need to have transitioned to the ATO’s Single Touch Payroll initiative by July.

Businesses with fewer than 20 employees have until July 1, 2019 to be compliant but for these small business owners and contractors the ATO has a new free app.  Continue reading MYOB Launches Single Touch Payroll Trial Product

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Do Bookkeepers Need to Learn All Accounting Programs?

female bookkeeper with diverse skills

Ways to diversify your bookkeeping skills

NOT SO LONG AGO, bookkeepers and accountants only had to learn to work with one accounting program. That was back when MYOB, the market leader, had a strangle-hold on the industry, and though a few alternatives – Reckon, Quickbooks – tried to squeeze out a space for themselves, MYOB was too embedded in the accounting industry.

But the rise of cloud accounting has changed all that. Besides the reinvention of a couple of old brands (QuickBooks and Reckon – though the latter has exited the market again), it’s also birthed a new market leader in Xero, which now has more paid member accounts in Australia and New Zealand than arch rival MYOB. Continue reading Do Bookkeepers Need to Learn All Accounting Programs?

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MYOB, Xero, Quickbooks and the Cloud Accounting Ecosystem

learn intuit quickbooks payroll online training course videos

How the cloud accounting ecosystem has paid off big time:

And how Xero has become the preferred accounting software for Aussies and New Zealanders (Part 2 of 2)

learn intuit quickbooks payroll online training course videos
Although Xero is enormously popular in Australia and NZ, Intuit QuickBooks is backed by a company that dwarfs Xero and MYOB and is huge in the US.

FOR YEARS, MYOB was the Australian market leader in accounting software. Small businesses and accountants spent hundreds of dollars to buy its clunky, obtuse software and load it onto their computers so they could mind their own business (hence, the MYOB) or the business of their clients.

In 2008, the tide began to roll the other way, when an upstart — and a Kiwi upstart, no less — entered the Australian market, two years after it was founded. That upstart was Xero, and it revolutionised the industry, with its software- as a -service approach to accounting systems.

Continue reading MYOB, Xero, Quickbooks and the Cloud Accounting Ecosystem
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How Are You Managing Rostering, Timesheet, Wages, PAYG, Super?

Manual Wages book and timesheet from the 1890's Cork City Archive - PAYG Super rostering

You could use a wages book

I RECENTLY SPOKE WITH the owner of a hairdressing salon who’s been in business for over 18 years (at various different businesses). This woman has ALWAYS used a manual wages timesheet system.

Our team are exploring typical rosters and problems which occur in the payroll processing, and as such, we’re also exploring all the different ways that wages are managed.

Continue reading How Are You Managing Rostering, Timesheet, Wages, PAYG, Super?
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MYOB Essentials Accounting, Credit Management & Payroll Courses COMBINED

myob-essentials online training course live logo

YOU COULD CALL IT a New Years Resolution that we’ve managed to tick off already! Early January 2018 I promised that EzyLearn would make the MYOB Essentials Courses available with our traditional MYOB AccountRight Courses and that offer is NOW available as a COMBO OFFER — see our Bookkeeping Academy page for the details.

We have 4 MYOB Essentials Courses available (MYOB Essentials Accounting, Daily Transactions, GST/BAS & Reporting AND MYOB Essentials Payroll Course) and it’s a popular course for those wanting a good payroll solution without spending the earth.

Continue reading MYOB Essentials Accounting, Credit Management & Payroll Courses COMBINED
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New Tax Concessions for Small Business

Four big changes to small biz tax concessions

ato tax concessions for small business under $25mAS YOU MAY BE AWARE, each year the ATO updates the tax concessions for businesses. This is usually the result of a budget measure being passed by the Government. Other times it’s due to the ATO simplifying the tax processes for businesses.

For the financial year ending June 30, 2018 (FY17/18), there have been four big changes that affect small business. In particular, how a small business is defined, which lowers the tax rates for more Australian businesses.

Small business threshold increases to $25m

The threshold for how a small business is defined was increased to an aggregated turnover of $25 million. Aggregated turned over includes any other form of income associated with the main business — i.e., shares on the stock market, revenue-generating property owned by the business, shareholdings in other companies, and so on.

Providing your aggregated turnover is below $25 million, your business is eligible for the company tax rate of 27.5 percent.

In the financial year ending June 30, 2019 (FY18/19), the turnover threshold will increase to $50 million, while the company tax rate will progressively decrease until it reaches 25 percent by FY26/27.

Instant asset write-off

The instant $20,000 asset write-off threshold has been extended until June 30, 2018, which means any computers, vehicles, furnishings or other assets purchased for your business between July 1, 2017 and 30 June, 2018 can be deducted immediately.

This deduction can be used for any asset that costs less than $20,000, whether new or secondhand.

Professional expenses deductions for startups

Startups can immediately deduct any profession, accounting, legal advice in the year it was incurred. For instance, a person who, in the process of setting up a cafe, hires a consultant to determine a suitable location for the business, may deduct the consultant’s fees in the year they incurred. This is true even for an established business that is setting up a new business, unrelated to their existing one.

For example, the cafe owner may already operate a restaurant. As long as the cafe doesn’t share the same name and is independent of the cafe, the fees may be deducted. If the new cafe was an expansion on the existing business, the deductions wouldn’t apply.

Immediate deductions for prepaid expenses

You can now claim an immediate deduction for prepaid expenses where the payment covers a period of up to 12 months and ends in the next financial year. If you took out a 12 month lease on premises for your business and paid 12 months rent upfront, the deduction would apply. It wouldn’t apply, however, if you signed a 24 month lease, as the service period is greater than 12 months.

Small business restructure rollover

Small businesses can now change the legal structure of their business — from partnership to a company, for example — without incurring any income liability when the assets are transferred from the partnership to the company.

This rollover applies to any active asset, whether they’re CGT assets, stock, revenue assets or depreciating assets.

In changing the structure of a partnership to a company, the rollover only applies where there is no change in economic ownership. For example, if a husband and wife decide to change the structure of their caravan park to a company, and both husband and wife remain equal shareholders in the business.

The rollover wouldn’t apply, however, if a third person became a shareholder in the company or the shares were distributed unevenly between husband and wife. Both would constitute an economic change in the ownership of any assets, even though they’re a couple.

***

We’ll keep you informed of new and emerging technologies that help you do business better. As part of our Updates and Additions policy, any new content we add is yours’ FOR FREE as a current EzyLearn student. 

Interested in finding out about more Xero-integrated apps to help you manage your project more efficiently? See our recent blogs where we review for you and come up with a list of pros, cons and prices: Best Xero-Integrated Time Management Apps and Best Xero-Integrated Project Management Apps and the Best Xero-Integrated Document Management Platforms.


 

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Why Do You Want Xero and MYOB for Free?

If money is an issue there are alternatives when it comes to accounting software programs

WaveApps Transaction journal in the free accounting software competitors to Xero, QuickBooks Online and MYOB with receipt scanning built inWE’RE OFTEN ASKED whether Xero, MYOB and QuickBooks software is provided free with our training courses.

Unfortunately, we’re not given free access to accounting software, so we can’t pass free software access onto our students either. However, we do let you know where you can access trial or student versions while you complete our courses.

It made me wonder: Who’s driving the demand for these programs? It turns out, it’s usually someone’s bookkeeper or accountant recommending them. And this is usually because they’ve done a training course and learnt how to use one or more of the major accounting packages.

Does your bookkeeper or accountant disclose whether they’re earning a commission?

Some bookkeepers take a 15 percent cut of the monthly subscription fee because they’re a certified MYOB / Xero / QuickBooks consultant — and that’s why they recommend a particular package. I personally think that bookkeepers or BAS agents who do this should disclose that they are earning an ongoing commission — just as real estate agents need to make these declarations in their agency agreements.

Businesses don’t know any alternatives  

It also happens that a lot of business owners don’t know about alternative accounting packages. Therefore they simply choose the brand name they’ve heard about the most. I discovered this with real estate agents when it comes to who they choose for their social media marketing services — most of them ask what software or which person Joe Blow uses and then assume it’s good enough for them.

Selecting an accounting package to use is often one of the first things a new business owner does. At this stage, however, they may not even be aware of what they require from an accounting package; never mind what sorts of alternatives they should be looking at. When first starting out, they’re just anxious to be able to invoice and get paid by their first client.

Freshbooks, Zoho, WaveApps alternatives to Xero & QuickBooks Online

Three low cost alternatives to the “three brand names”

Zoho, Freshbooks and Wave are three other accounting packages that are either free or very inexpensive.

These three also include many of the same features you’ll find in the three big name accounting packages — MYOB, Xero and QuickBooks.

Zoho: Free invoicing software allows one user, invoice up to five customers; paid subscriptions from $7 U.S. per month; add extra features (expenses, subscription management, inventory management) as required. Pricing for Zoho Books, the complete accounting package, start at $9 U.S. per month for 2 users, 50 contacts, 5 automated workflows.

Freshbooks: Complete accounting software includes unlimited invoices, accept online and credit card payments, multiple devices, reports, payment reminders, notifications when clients have received, viewed, paid invoices; pricing starts at $15 U.S. per month for 5 active contacts (customers).

Wave: Forever free invoicing and accounting software includes unlimited estimates and invoices, generate reports, scan receipts, bank feeds (accounting package), and more; accept credit card and online payments for a fee (1.75 percent for ever 30 cents AUD); payroll $36 AUD per month.

Consider your business needs first

We recommend either Wave or Zoho for small but growing businesses, looking for a cheap or free accounting solution. Wave, in particular, provides a fairly robust accounting package that’s entirely free, and remains so if you don’t intend to take credit card or online payments (lots of businesses do, but many more don’t). In fact, they even have their own smartphone apps to capture receipts and create invoices while you’re at a clients!

If you anticipate you might want to add other productivity apps, like a CRM, inventory management, IT helpdesk, recruitment tools, or collaborate in a team project, Zoho is a good place to start, as these features can be turned on and off as required.

Of course, these accounting packages are rarely used or recommended by accountants or bookkeepers, who prefer to work with Xero, MYOB or QuickBooks because they provide the functionality needed to complete and lodge activity statements. If you’ll be working with a bookkeeper or accountant, it’s best to stick with one of the brand name three.

***

If you need training in MYOB, Xero and QuickBooks, our online training courses will show you how to set up and use various aspects of the software. More importantly, they will take you through detailed case studies where you can enter all the transactions performed by various different business types eg. professional services, trades and even the sale of inventory products. Visit our website for more information or to enrol.

 

Ref: #715

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$99 MYOB Course: Intro, Intermediate, Payroll – ALL FOR $99!?

Mr Ed a horse is not just a horse and an online course is not just an online course

When a training course is not really a training course…

WE REGULARLY PARTAKE in competitive analysis so we can keep giving you top quality online training courses for the best value out there, and in doing so, I found an online offer for not just one, but THREE levels of MYOB — Intro, Intermediate and Payroll OR ALL THREE for $99.

Not mentioning any names; we’re not in the business of naming and shaming and, besides, you can search the deal easily enough online yourself, but it prompted me to put out a reminder that not all courses are created equal.

Not all training courses are the same

I guess it’s obvious to some degree, but many of us are still misled by marketing, and sometimes what’s packaged to the customer as an online training course, is simply a pile of videos (and not even featuring current and up-to-date software versions, either!) all plonked together. You know what, you can get this, and possibly more, directly off You Tube for free!

Using old versions of the accounting software

myob logo online myob training course videosThere are many online courses available for cheap prices, but many of these same courses are not providing training on the latest version of software packages. A quick scan of the fine print shows that this particular $99 MYOB deal is training you on Version 19 of MYOB. This dates back to 2010, which in any one’s language, is very old. Very, very old.

As part of our suite of online MYOB courses, we include access to our old “archived” courses where we use version 19 of MYOB; only for the benefit of those people who still use it and don’t need features like payroll, super and other added features that you’d expect to get after 8 or so years of software development.

What’s retail price anyway?

Box saying If its too good to be true read the fine print for online training courses

Another thing to be wary of is “retail price” comparisons. Plenty of these may be legit, but there are others out there who deliberately distort the truth or make a current cheap offer seem far more appealing by comparing their cheap price to a retail price that isn’t really indicative of what’s on offer out there online.

Make sure you’re talking “courses for courses” and that the retail price comparison isn’t looking at prices from half a decade ago or thereabouts. The price of online training courses is a forever shifting thing, so do your research!

What your online training course should include

In our books, an online training course that’s actually going to deliver results for you should come with these ingredients at the very least:

  1. A detailed workbook to supplement your training and absorption
  2. Knowledge reviews, quizzes and tests (so you can see how you’re absorbing information as you go)
  3. Certificate of completion option formally stating what you’ve achieved
  4. Case studies that keep the content based in real-world scenarios and ensure you’re learning things that will be practical in real-life circumstances and situations
  5. Responsive email and phone student support for all queries
  6. Money-back guarantee; if you’re not happy with the course content, or it’s not what you thought it would be, you shouldn’t be stuffed around in the fine print by not getting a full refund, (no matter how small the amount you’ve originally paid).

The training course should feature the training on the software as it is in its current version and this training, or training videos, workbooks, whatever, should be provided in an order that’s been carefully considered, trialled and tested.

Oh, and some testimonials by real people vouching for the effectiveness, quality and professionalism of the course content and course content provider is pretty important too. Then there’s CPD point accreditation, access to lifelong learning platforms, the option to get lifetime course membership to course content so you’ll always get updates at no extra cost and have an “after course resource” … yep, don’t get me started, courses simply ain’t all the same and you usually pay for what you get (though I think we’re super cost-effective by those standards!)

***

People say “if it sounds too good to be true, it probably is”. This isn’t always the case, and sometimes excellent opportunities in life seem, at first, too good to be true. But when it comes to online MYOB courses for $99 or $29 or $69 or whatever the probably-too-good-to-be-true price point is, just make sure you’re getting apples for apples, or courses for courses, or horses for horses, Mr Ed.

Mr Ed a horse is not just a horse and an online course is not just an online course

You can watch some FREE MYOB course videos? Scroll through our freebies list of online training videos that you can watch without charge or obligation and subscribe to our blog to get updates to more free videos as we’re adding them all the time. Or check out our special offers page to see what discounts we’re giving at the moment or online training courses in MYOB, Xero, Excel and many others.


Online bookkeeping accounting training courses for CPD points


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MYOB AccountRight Plus and MYOB Essentials – they’re different

myob-essentials online training course live logo

MYOB became the cloud laggard

NOT ALL TECHNOLOGY COMPANIES were 100% committed to cloud-based software (commonly known at the time as SAAS — Software As A Service) when the high level of Internet adoption made it more feasible. One of those companies was MYOB.

At the time, MYOB was the accounting software leader by a HUGE margin in Australia, and the strategy that Craig Winkler used from the very beginning, meant the company was entrenched as the software of choice for accountants. The market leading software for small business was MYOB AccountRight and AccountRight Plus (for payroll and other advanced features).

The problem faced by MYOB was that the company required a lot of capital and had a lot of work to do to rewrite their Windows and Macintosh software programs. They only had a basic online version called Essentials which didn’t capture much attention because it was feature poor. This enabled the New Zealand company, Xero, to gain traction as the alternative accounting program which was focused on cloud-based features like:

  • bank feeds
  • automatic back ups
  • simultaneous multi-user access.

Craig Winkler sold out to Archer Capital who later did a 3-bagger to triple the value of the software company when they sold to Bain Capital. Therefore the company is well resourced financially to make up for any lost ground. Indeed, it seems they are starting to come good with their MYOB Essentials software as a reasonable competitor in the cloud-accounting space.

MYOB Essentials Evolution

myob-essentials online training course live logoAs a training organisation, EzyLearn’s service provision is driven by the needs of our students and what they ask for. Very few companies or job seekers have ever asked about MYOB Essentials until recently.

We create our own MYOB training course materials and update and add to it regularly and because we have our own micro courses and case studies (some are starting to call these “playbooks”) we’re able to replicate those for different software programs and we’re currently doing it for MYOB Essentials.

Best of all, when you enrol into any of our MYOB AccountRight training courses you’ll now get access to the new MYOB Essentials Course materials we create as part of a combination offer at the Bookkeeping Academy website – Click here>

Make sure you subscribe to get alerts about all of our new, ongoing content.

On a side note, the elephant in the room is still Intuit and their QuickBooks Online program — they are the market leader in the US and are HUGE!


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Creating and managing databases is included as part of our Advanced Microsoft Excel training courses — and you receive access to ALL OF OUR COURSES, including ALL SKILLS LEVELS for ONE LOW PRICE. You can even start your Excel journey with our FREE Beginners’ Excel Course Workbook. Read more about our beginners’, intermediate and advanced Excel training courses on our website, or enrol to start learning by 5pm tomorrow!


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Save 48% off Excel, MYOB and Xero Training Courses

EzyLearn Last Dasher Sale November 2017 for cheap Xero, Cheap MYOB and Cheap Excel courses

EzyLearn Last Dasher Sale November 2017Now almost half the price and twice the speed!

I HAVE JUST BEEN THROUGH a gruuelling experience with our hosting company, technical people and course creators to make sure that EzyLearn continues to be the first choice for Bookkeeping and Marketing Courses.

Our servers are now twice as fast and have more storage so existing students should experience some nice and fast access speeds — unless you’re in an NBN area that drops out all the time (sorry Telstra, I love you BUT the access speed is no different from what it was over here in the NSW Lake Macquarie area!)

In case you weren’t aware, I was recently heavily involved in a renovation of an investment property in Newcastle (which I really enjoyed and has given us a whole lot of extra content from real world experiences with local tradies like electricians, plumbers, chippies, painters and more) but am now back on the tools (the internet and software tools, that is) and keen to continue improving every aspects of our courses for existing AND new students.

We’ve coming up to the crazy, silly season once again that is Christmas, and I thought I’d push our marketing up another notch to help those who want to learn more to improve their lives and businesses in 2018. I hope I’m not too early in thinking like this but it’s a great time to think about what’s important in life and go and get it.

New people, new experience and MORE new content

I’ve spoken with some fantastic people who’ve joined us in the accounting software space and they have some tremendous experience in the ERP (Enterprise resource planning) side of accounting — that is accounting software as used by mid size companies. From this, we’re going to share some great information, tips and experiences to help those businesses who either deal with larger companies as clients, or who are at the stage of ramping up their accounting as a mid size business.

We’ve also just gone through the upgrade of training materials for Microsoft Excel 2016 and Xero Courses, including the new Xero Cashflow Course, and I’ll share some of that information with you as it gets published on our LMS.

If you are an existing Xero Course student you can access this course for free as part of our EzyLearn Updates policy.

There’s much more news to come, but for now please take advantage of and share our currentLAST DASHer SALE!” with your friends. And do subscribe to receive our updates!


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MYOB Unlimited Offer Not Really Fair

MYOB, Xero & QuickBooks Online Courses for tradespeople

MYOB, Xero & QuickBooks Online Courses for tradespeople
Is MYOB mocking tradies in their new ad

I WAS DOING SOME research about MYOB’s large and confusing product suite recently, when I came across the word “unlimited”, followed by an asterisk.

I thought this was odd, since I didn’t think the word “unlimited” required much more explanation — doesn’t it, after all, mean inexhaustible, limitless, boundless, and so on?

It turns out there ARE limitations around MYOB’s products — and it relates to bank feeds. They are subject to a fair use policy, but the downloaded document doesn’t actually quantify what constitutes “fair use”, so our team had to go and do a little digging.

What is “fair use”?

The term “fair use” has been unusually co-opted by companies and businesses, usually telcos and ISPs, to put some limitations around their “unlimited” product plans. Traditionally, “fair use” referred to copyright, and the use of texts — be they music, films, books, etc — in a manner that is considered fair. I was involved in a VoIP telephone business when a company from the US called Fonality made a HUGE running dive into the Australian telecom market with fixed cost plans when it was still new to Aussies.

They offered an “Everything’s Included” package based on a fixed cost per line and it too was based around a “Fair Use Policy” which you had to dig really deep to find and understand. The most common example I’m aware of is for Internet access by gamers who use an incredible amount of download data compared to most people and I understand that their usage may be unfair but I also think this type of clause in a product offering is very UNFAIR — particularly on your competitors (who would probably happily match it!).

In copyright law, brief excerpts of copyrighted material may be used verbatim for the purposes of criticism, news reporting, teaching, and research without requiring the permission (or payment to) the copyright holder.

How does “fair use” apply to MYOB?

Click the image and then zoom in to see if you can see it.

In the case of MYOB’s not-unlimited bank feeds, there’s a monthly threshold, depending on the type of MYOB product or plan you’re on, and once you exceed that threshold, you’ll be charged a fee for each bank feed transaction you carry out that month.

It’s basically a reinterpretation of the “fair use” policy as it relates to copyright law, to suit MYOB’s purposes.

Although the document I was encouraged to download didn’t outline MYOB’s Bank Feeds Fair Use Policy, I managed to find it elsewhere on the MYOB site, which has been republished below (under the fair use policy for copyrighted material!).

So long as you don’t exceed the number of monthly bank feed transactions your plan permits, you should be fine, though the term “unlimited” is fairly misleading in this instance, since they have a clearly defined number of transactions they allow.

No Ambiguity with LIFETIME Access

EzyLearn Online Course Updates & Additions for latest versions of Xero, Excel & MYOB coursesEzyLearn has been in business since 1996 and online only since 2006. In 2011 we launched LIFETIME course access as an option for selected courses and we did it because we could!

We have the systems in place to track students enrolments so it’s something we feel very comfortable with and we’ve had many students ask us about it a couple years after doing their course — obviously they were thrilled that we still had their details on file and gave them access to the CURRENT course. Yes, when we offer lifetime course access it means you get to the NEW version of the software course as well as the older one. That’s part of our Update and Addition Policy.

You can learn more about bank feeds with MYOB and how to set them up in our MYOB training courses. Visit our website for more information or to enrol.


 

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Finding Help with Your Bookkeeping

Why you should employ a bookkeeper to help manage the books

best way to find a bookkeeper myob xero quickbooks online
If you’re a small business owner, it shouldn’t be taking you an inordinate amount of time to keep your bookkeeping orderly and up to date. If it is, perhaps now is the time to get help.

PERHAPS YOU ARE a small business owner who is trying hard to keep up to speed with your regulatory bookkeeping requirements. But no sooner does one quarter end and another one seems to roll by with the commensurate paperwork due all over again. This is taking away from your regular work and you’re falling behind — and half the time you’re not even sure that it’s being done correctly. It sounds like you should be seriously considering finding a bookkeeper for your business.

Even if you have training in how to use Xero, MYOB or Quickbooks, or some other cloud accounting program, finding a great bookkeeper can make all the difference to your business. However, although there might seem to be plenty of “bookkeepers” around, finding the right one bookkeeper for your business is not an altogether easy thing to do. And if you’re financially challenged, you also need to find a bookkeeper who won’t break the bank.

Bookkeeper, accountant or tax professional?

These days, the term bookkeeper is almost an umbrella term for all the different types of accounting and tax professionals available to you, from basic data entry bookkeepers right through to specialised BAS and tax agents.

There are even some bookkeepers who are so knowledgeable in one particular accounting program that the software company has endorsed them as certified consultants or advisors, and some earn commission from accounting software companies, while there are others who aren’t beholden to any particular software company. We outline four steps you can take to narrow down the search.

Step One: What Kind of Bookkeeper Do You Need?

Think about your business and how it operates. Do you have lots of business purchases and transactions each week? Do you employ staff? Do you work in a specialised industry? Are you registered for GST? Do you require a bookkeeper to work onsite at your premises or can they work remotely?

Write down the needs of your business to help you determine the kind of financial help, and therefore, what kind of bookkeeper you need for your business.

Step Two: Research Local Bookkeepers in Your Area

Visit the websites of some local bookkeepers in your area, or search the National Bookkeeping Directory to find bookkeepers matching your requirements located near you. If you don’t require a bookkeeper to visit your premises, broaden your scope and research bookkeepers who can work remotely. Make a shortlist of potential bookkeepers.

Step Three: Check the TPB Register

BAS and tax agents are required, by law, to register with the Tax Practitioner’s Board (TPB), so if your business requires either a tax or BAS agent (or both), the TPB Register should be your first port of call to ensure the person who have in mind is currently registered to provide BAS or tax services.

Step Four: Interview Your Preferred Bookkeepers

During step two, you made a shortlist of potential bookkeepers, and, assuming your TPB search didn’t turn up anything to be wary of, you should now set about contacting each one to get to know more about the services they provide.

It’s a good idea to ask them how long they’ve been working as a bookkeeper for, the sorts of businesses they’ve worked with in the past, and any expectations they may have of you. You should also ask for a written quote for their services. This quote should form part of your professional services agreement.

***

Many bookkeepers will provide an initial consultation, and if not, ask them to. We outline a number of things you can expect and ask them at this first consultation.

If you need help making your small business dream become a reality — with business planning and templates, identifying target markets, with any form of marketing and advertising, including social media, even just setting up a great looking website — then check out our EzyStartUp Course or contact us for more information. 


 

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When Do You Need to Register as a BAS Agent?

MYOB and Xero Training Courses and becoming a registered BAS agent to start a bookkeeping business

Making the effort to specialise reaps rewards

BECOMING A REGISTERED BAS agent means you are permitted to lodge a client’s business activity statements (BAS) on their behalf, each month or quarter, or as determined by the ATO.

BAS agents are really bookkeepers; but they’re ones who have done some extra training and applied to the Tax Practitioner’s Board (TPB) for a BAS agent’s accreditation.

Not every bookkeeper has to register as a BAS agent, but those who do typically earn more as a registered BAS agent than a straightforward, no-frills bookkeeper does. That’s largely due to the way cloud-based software, like Xero and Quickbooks, has made it a lot easier for businesses to manage their own bookkeeping. But even just speaking generally, bookkeepers who have specialised skills always tend to earn more.

So when don’t you need to register?

Continue reading When Do You Need to Register as a BAS Agent?
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Is Xero Really All It’s Cracked Up To Be?

How does Xero stack up in the cloud accounting game?

xero learn online xero course training videos cheap
Xero CEO, Rod Drury

WHEN XERO FIRST ENTERED the accounting space, it gave MYOB a real run for its money — something Xero continues to do to this very day.

When Xero first entered the market, it was with a bang. You see, even though  Xero and MYOB share many of the same features, Xero was cheaper and easier to use than MYOB, but perhaps even more so, it was also cloud-based. Being cloud-based meant you didn’t have to buy and install pricey software that would be out-of-date within 12 months. A huge advantage.

Since then, however, a number of cloud-based accounting applications have entered the market — QuickBooks Online (now distributed by their US-based parent company Intuit), Reckon One, Saasu, Zoho, and so on.

As business owners have more choice than ever before, it’s got a lot of people wondering about whether the two market leaders (Xero and MYOB) are really all they’re cracked up to be, Xero in particular.

Missing a dropdown menu

Even though Xero was hailed as a breath of fresh air when it first entered the market, it is still a little more complicated to use when compared with other cloud accounting apps, like QuickBooks and Reckon One. For instance, the purchase orders feature is still hidden behind bills, when it could easily be access via a dropdown menu. But it’s not a major quibble.

Xero’s contact profile misses a beat

Although Xero allows you to assign customer numbers for your suppliers or customers in the contact profile, it doesn’t have the functionality to record customer numbers assigned by supplier or customer.

If you’re trying to get in touch with Telstra, for example, with whom you’ll have been assigned a customer or account number, you’ll have to dig around for the paper bill to find that customer or account number.

It’s easy to file bills, though

This feature is available in QuickBooks, and it’s also available in MYOB, but as is often the case with MYOB, it requires more steps to do what you can in Xero in just a few clicks. Rather than keep paper bills on hand, Xero allows you to attach them to you transactions, so you never have to go hunting around for a bill again (very useful given the contact profile issue mentioned above).

In MYOB, you must upload your bills to your in-tray, and then link them to your transactions. This is annoying, because it requires you to leave the transaction window and open the in-tray one.

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Remember that when you select a cloud accounting package for your business, do not choose solely based on price. Make a list of the needs of your business and the functions you’ll require, and then select the accounting package that suits your needs the most. Ask your bookkeeper and other business friends for their recommendations as well.


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At EzyLearn we include all versions of a software program in our training courses. That means when you enrol into Excel you get 2016 — AND — the older Excel courses which include version 2013, 2010, 2007 and even 2003 (if you really need it).
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Should Your Bookkeeper Earn a Commission Off Your Software Subscription?

Is your bookkeeper’s bias disadvantaging you?

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Although a bookkeeper who is certified by a major accounting software company can be a good thing, you need to make sure their accounting package is best for your business.

SOME BOOKKEEPERS HAVE BEEN endorsed by software companies and are known as certified consultants or advisors. At EzyLearn we provide online training in Xero, MYOB and QuickBooks and we know that some people who hire bookkeepers aren’t aware of the benefits these certified consultants and advisors receive.

So what are some of the benefits? One; they get their accounting software for free, two; they receive a discount or commission for each new business they sign up to use that particular software.

Does this make certified consultants and advisors biased?

For a business owner, the upside to hiring a bookkeeper endorsed by a software company is that they will be able to work with that software application quickly and efficiently. The potential downside, however, is that the software application may not be especially suited to the business, but has been recommended anyway because the bookkeeper earns a commission for doing so.

Research first

A way around this is to do some research first. Compare a few different accounting applications before making contact with a certified consultant or advisor. Once you’ve decided on a particular software, you shouldn’t find yourself in any strife.

If, however, you contact a bookkeeper without doing your own research first, there are some things to be wary of, such as whose name the subscription will be in — failing to do so could prove to be a costly mistake.

Independent bookkeepers bring software skills and more

Most independent bookkeepers are usually proficient in a few of the major accounting applications, like Xero, MYOB and Quickbooks, rather than just one, so they’ll be able to recommend the software that suits you and your business needs the best.

They’re also able to set up your accounting software for you and provide training if necessary, just as a certified consultant or advisor can — only you’ll be in control of your subscription instead of your bookkeeper.

To ensure your independent bookkeeper is just as qualified as a certified consultant or advisor, ask to check their references. By law, a bookkeeper can’t perform BAS or tax services unless they’re registered with the Tax Practitioner’s Board (TPB) so you can check with them to ensure they are. If you’re worried about their software skills, ask if they’ve taken any short courses in a particular accounting application.

We want to help you get the best from your bookkeeper. Check out our recently upgraded National Bookkeeping directory which features bookkeepers from all over Australia. Or perhaps you’re after software training in MYOB, Xero and QuickBooks? We feature online training in these, and many other business-related courses: see our website for more


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Our Xero online training courses include EVERYTHING for ONE LOW PRICE. Furthermore, if you select our Lifetime Membership option, you’ll have LIFETIME access to our ongoing course updates. All EzyLearn courses are accredited by the Institute of Certified Bookkeepers (ICB) and can be counted towards Continuing Professional Development (CPD) points. Find out more about our Xero online training courses.