Search Results for: quickbooks

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Video: Xero Training Course Announcement – ALL Included

Video, Video, Video. Everyone tells me you need to do it

 

I’M NO STRANGER TO NETWORKING, no stranger to making speeches, doing presentations and so forth. But creating a video is still NERVE WRACKING!

We all have issues about how we look, how we sound, how well we present ourselves and I went through all of these emotions before creating this video — SO I hope you like it.

It’s only short and covers all the topics I was hoping to convey and I’d love to hear your feedback. It’s so easy to create videos and publish them on your own website these days and we show you how to do this in our WordPress courses.

EzyLearn is a small business and we’ve been teaching students how to use software to:

  • find a job
  • do better at their current job and
  • start and manage their own business

And,we’ve been doing it for over 20 years.

When we created the training courses for MYOB in the late 1990’s I decided that we, as a company, need to create our own training materials so that we could define the learning stories that take students from epiphany to epiphany — that is one of the most rewarding aspects of training.

I was fortunate enough to work with some very experienced MYOB Certified Consultants who helped deliver and influence the contents of our MYOB bookkeeping course training materials. Since those days we have added and added, and refined content, based on feedback from student feedback.

We’ve also worked with registered BAS agents, accountants and corporate accounting staff to continue to add to and refine our courses so we can keep providing the BEST VALUE FOR MONEY COURSES in Xero & MYOB.

Working with the Best People

Having a good track record, great training courses and satisfied students is a great reward for running EzyLearn, but the best part — and the part that I could not do without — is the team of people I’m fortunate enough to work with, and part of this message is to thank YOU for helping me grow and manage the EzyLearn experience. Those people are:

  • Ange: For doing the research, putting new technology into perspective and writing many of the words that people read in our blogs and other training content over the last 6 years
  • Iroshini: For managing the technical end of our multiple Learning Management Systems
  • Brian: For helping to automate our Enrolment Voucher System that enables thousands of students to access low cost courses automatically
  • Tracey: For providing the last word in what is correct and incorrect in regards to anything BAS-related
  • Helen: For helping to co-ordinate the mammoth task of creating, version control and design of training materials
  • Luke: For consistently great customer service so that every student can get through their courses quickly and efficiently and new students understand all the information on our websites
  • Richard: For making sure that all of our procedures are followed meticulously and changed where needed
  • Rosie: For making sure that our accounts are something that I don’t need to worry too much about
  • Yvette: For coordinating and editing content and helping with marketing for all various aspects of the business
  • Linus: For the deep level coding and hosting advice you have provided when we need it

Plus there are the various smaller tasks which our international workers and virtual assistants have helped with as well, so thanks too to you all!

We’re going DEEP in 2018

Career-Academy-Course-Program-WorkbookAs a training course content creator EzyLearn focuses on our niche markets of

  • accounting
  • office administration
  • marketing

and in 2018 we’re going to give existing students more (watch out for an announcement about our LIFELONG Learning Platform — which will include MYOB and QuickBooks courses, not just Xero).

We’ve also beefed up the success programs for employees working through their careers and the sales success program to help our students upskill and reskill to earn more in 2018.

Learn more about these programs here:

Make you subscribe using the form below or at this EzyLearn Blog Subscribe Link to receive these updates.

 

More about Property Investment Courses

I’ve spent a lot of time learning more about property investment, renovation and the real estate industry and we’ll have some new courses in 2018 to help you improve your retirement and wealth by investing in property. Stay tuned for that!

 

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Why Aren’t The Phones Ringing or Leads Coming Through?

how useful is a linkedin profile online learning social media training

Researching the Market is a Crucial Part of Every Business Strategy

EzyStartUp business startup and admin training coursesIn a previous post, Is Your Charge-Out Rate a Marketing or Business Strategy?, I talked about Mark the painter, who charged a really low day rate that ultimately proved to be unsuccessful, because he couldn’t carry out the volume of jobs he needed to for it to be profitable.

When I asked Mark why he chose such a low day rate, he said it was because no other painter could possibly compete with him. Sure that’s probably true, but obviously, for good reason!

What Mark really should have done was to research the market to determine precisely what other painters are charging, and for which services.

Cost of bookkeeping for a contract bookkeeper using Xero, MYOB or QuickBooks OnlineDetermine the industry average

A good starting point is to determine the average price for your industry. Be diligent and look at as many businesses in your local and surrounding areas to ensure you’re getting a clear picture of what people are charging.

It’s really hard to justify charging much below the industry average, even if you’re trying to get new business.

As I mentioned in the last post about day rates, low prices is a numbers game. Unless you’re able to turn work around exceptionally quickly to justify taking a cut on your profit margin, then it’s probably not worth it.

In our work with National Bookkeeping we discovered that bookkeeper charge out rates fall into some distinct categories based on their knowledge, experience and how they prefer to work. These rates are a great guide to help you become comfortable with your own hourly rate.

Give customers savings in other areas

Rather than reducing your rates to get new business, try to give customers savings elsewhere. You can do this by providing something your competitors aren’t, which is why researching the market thoroughly is a crucial part of your business strategy.

If you determine that your competitors charge a call out fee or a fee to prepare walls, this is a good place to start reducing or eliminating those charges in order to make yourself more competitive.

How are people finding you?

If potential customers are finding you via your website, it’s important to have a good call to action that contains reasons for people to make contact with you. Then make sure you highlight the reasons to call.

Competitors copy so keep changing your offers

Believe it or not, one of the most challenging aspects of your market research and the OFFER you make to potential customers is that your competitors will also be researching what you are doing and if they feel it is a good offer they may copy it — so you may want to have a couple different offers and discounts and change them regularly to stay unique.

Use WordPress, a Blog and Social Media posts to keep your business looking fresh online and as well as attract the attention of potential customers — we cover all of this in our Digital & Social Media Marketing Courses.

***

You can learn how to research the market by enrolling in the Market Research Module of our Business StartUp Training Course as a stand alone mini course. Visit our website for more information or to enrol.

Blog Ref:#699

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Best to use your Accountant’s Bookkeeper or hire a junior to save money?

Junior level 1 bookkeepers good cheap local bookkeeping services - Natbooks

What’s Your Bookkeeper Preference?

Recently, I wrote that a lot of bookkeepers are losing out to accountants because 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

Junior level 1 bookkeepers good cheap local bookkeeping services - NatbooksThink 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..

ref:#713

 

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The Perfect Job; the Ideal Employee

the perfect administrative executive assistant office manager learn online courses training

And the online training to help you get there

the perfect administrative executive assistant office manager learn online courses training
Do you have the skills needed to be the perfect office manager, administrative or executive assistant?

I WAS BROWSING THROUGH my contacts on LinkedIn and found an advertisement by a company that was looking to hire people.

They were in the AI (Artificial Intelligence) space and their headquarters were in Europe.

However, the ad looked like it could be for any company including trades, professional services etc.

Here’s what the ad contained:

Executive Assistant / Office Manager

Overview

The Executive Assistant / Office Manager will be primarily responsible for helping to keep everyone (and everything) working at peak performance. We’re a growing company, and there will be new and interesting challenges every day. Ideal candidates are curious and interested in learning more about what we do, and always interested in learning new skills and taking on new challenges.

Tasks

  • Manage all aspects of office administration
  • Coordinate team schedules and events
  • Manage executive schedules
  • Handle payment of invoices and associated bookkeeping
  • Order supplies and equipment
  • Arrange travel

Skills

Required

  • Excellent verbal and written English communication skills
  • Strong organizational and time management skills
  • Ability to work with minimum supervision, prioritizing work as needed
  • Strong knowledge of office applications, including Word, Powerpoint, and Excel

The training you need

Apart from the soft skills like good time management, communications, speaking and writing the software skills you can learn to apply for this job are:

Microsoft Office Applications:

Office Admin and Bookkeeping:

Organisational and Time Management:

My thoughts on this ad?

Why I’m sharing this ad is that I reckon it encapsulates “the perfect” administrative or executive assistant, or office manager. What I mean is that anybody possessing all the skills and capabilities listed above would be well qualified for almost any job in this area — for pretty much any type of company.

And they wouldn’t be limited to any particular industry either. Any intelligent person who is a quick learner would be able to pick up the nuances for various different industries and apply their skills as necessary.

Online courses to help you

The other positive thing about this ad is that it reinforces the fact that so many of our EzyLearn online training courses are geared towards people who want to do office administrative-type roles or office management positions. They are also perfect for people wanting to run their own business in any industry.

learn xero myob excel cheap online training courses videos

At EzyLearn we offer online training courses to help you up-skill and find employment. Choose from our range of cloud-based online accounting software courses, to business start up and management courses, to marketing and sales courses, or update and further your skills in a range of Microsoft Office programs (Excel, PowerPoint, Word) or social media and WordPress web design). 

 

 

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Is Xero Better than MYOB for Bookkeeping Businesses?

MYOB or Xero online accounting course training videos

Bookkeeping Incumbent, MYOB Versus Cloud Innovator, Xero

MYOB or Xero online accounting course training videos

MYOB HAS LONG BEEN the preferred accounting software of choice for accountants, but a lot of small business owners have now come to prefer Xero. It’s easier to use, and they can access it anywhere — their desktop PC, tablet or smartphone.

Meanwhile, the rise of cloud-based accounting software, which was pioneered by Xero, has made it a lot easier for bookkeepers to base themselves from home.

Throw in other technological innovations — cloud storage, bank feeds — and a remote Xero bookkeeper has become the more appealing choice for businesses, too.

Continue reading Is Xero Better than MYOB for Bookkeeping Businesses?
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Accounting Software or ERP System?

enterprise resource planning systems learn myob xero quickbooks online training course videos

Are you BIG enough yet?

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).

Continue reading Accounting Software or ERP System?
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Invoice Late and Say Goodbye to 7 Days

Get paid in Nett 7 days with Xero and Quickbooks Accounting Software Training Courses

Not invoicing quickly sends a message to your clients

Get paid in Nett 7 days with Xero and Quickbooks Accounting Software Training CoursesI MENTIONED IN A previous post about why you should quote and invoice customers on the spot if you can.

You’re more likely to get the job or get paid on the spot or pretty soon after if you do and it helps you

  • prioritise your work schedule (ideally using something like Calendar in Google’s G Suite)
  • keeps your cash flow healthy, which is important if you’re a tradie who goes out purchasing materials before you start a job
  • Sends a message that you are efficient and would like to be paid promptly

If you don’t invoice quickly your clients could forget what the invoice was for, call and ask questions about it because it’s no longer fresh in their mind and even put it off “Until the next payment cycle”, which is sometimes just an excuse for “some time in the future”.

Late invoicing is a pain for clients

During a recent renovation in Newcastle, I encountered a handyman named Paul. I asked him at least three times to invoice for the work he’d done before he finally sent one through.

When the invoice did come through it was in Microsoft Word format so I understand why it took so long — he would have been better using Xero or QuickBooks Apps on his phone!  On top of this, he then said to me, “Can you please pay me quickly because I’ve run out of money!”

I chased him for an invoice so I could pay him quickly, after all, I believe that if you charge a competitive price and do a good job for professional services that you should be paid quickly.

I prefer to pay quickly because I don’t have the debt over my head and I want people to work for me in the future — it’s a form of goodwill from a customers perspective but not all customers are like that.  Some customers see you as just another “Creditor” and are accustomed to string their Creditors out as long as possible.

Chasing someone for payment or an invoice or even a quote takes time and management — you have to note it in your diary, calendar, todo list or a report from your software program, and it starts to bring in feelings of resentment, particularly if they’re not feeling the best one day. Make it easy for customers to pay you and get your invoices out quickly.

Don’t invoice using Microsoft Word

When Paul finally sent me his invoice as a Word document there were a few problems I recognised:

  • First, it takes a long time to update a Word template, and it’s easy to make mistakes — leave the customer name, invoice number, date or other details unchanged, for example, which messes with your bookkeeping come tax time.
  • It’s easy to accidentally delete or change details in a Word document. It’s even easier to delete or change details in a Word document on purpose.
  • Paul had to get onto his computer to create the invoice
  • He doesn’t have a system of keeping track of who owes him money
  • It’s more complicated to make a note of and keep track of which Word Document (um, I mean “Invoice” has been paid)
  • Most people recognise a Word document and don’t think you’re very organised.

You definitely shouldn’t send invoices or estimates to customers in an “editable” Word document. It becomes a game of “he said, she said” if something goes awry, and that just further impedes a quick payment from your customer.

Don’t invoice late, then ask for prompt payment

When Paul followed up with a call asking me to pay the invoice promptly (and after I asked him no fewer than three times to send it in the first place), I paid it promptly because I happened to be available and organise payment.

However, the practice of doing this causes so many negative effects that it’s something every business owner should avoid. Here are some problems with asking for prompt payment after sending a late invoice:

  • If the first call you’re making to a client or customer after working with them is to ask them to pay you quickly, your business processes are wrong. Your first call, after working with a customer, should be a customer service call not a credit management one.
  • It builds resentment in the customers mind because they haven’t done anything wrong.
  • It makes you look desperate and, even if you are, it’s not your customers concern.
  • It stays in your customers mind for the next time they want to use you or someone else who offers a similar service.

Get set up on Xero and start being more professional immediately

in person and one on one training online learning course videosUse cloud-accounting software like Xero or QuickBooks so you can quote and invoice on the go quickly, securely and easily. For help setting up QuickBooks or Xero for your business, visit our website to learn more about our Xero or QuickBooks training courses.

 

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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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Profitable Businesses Suffer Poor Cashflow

Xero Advanced Certificate Training Course cashflow-forecast-charts-reporting-budgets

Xero Course cashflow-forecast-charts-reporting-budgetsI’VE TALKED ABOUT CASHFLOW on this blog before, particularly as it relates to good credit management processes.

This time, however, we’re going to look at how profit differs from cashflow, even though the two are intimately related.

There is the perception that a profitable business can’t suffer from poor cashflow, but this is incorrect. There are plenty of profitable businesses that don’t have enough money in the bank at a given time to pay their outgoings because cashflow is lumpy.

We’re in business to make a profit, and yet the term ‘profit’ is really just an accounting concept. Profit is revenue minus expenses, but it doesn’t reflect our investment in capital assets, such as equipment or vehicles, nor does it take into account the liabilities we have funding our business (loans and hire purchases).

Cashflow is the true indicator of success

Cashflow, unlike profit, is about timing. Specifically, it’s about having money before you have to pay out money, something not identified by profit. Managing cash flow is one of the most stressful things about running a business, because many variables affect it.

Sure, not earning enough money or not having processes in place to make sure that money flows into your business in a timely fashion are part of it, but there are other factors too, such as:

  • Incorrectly priced products or services
  • High overheads
  • Holding too much stock
  • Large bills (tax bills)
  • Seasonal cycles
  • Large projects
  • Growing pains (putting on more staff, increasing stock levels)
  • Unrealistic forecasts.

P&L reports help determine causes of poor cashflow

Quite a few of the things that adversely affect a business’s cashflow can be determined by running regular Running Multi-Period Profit and Loss Statements], while others can be managed (or avoided) by implementing better processes or procedures for doing business.

Product based business which keep inventory can have their cashflow affected by:

  • incorrectly priced products and services
  • holding too much stock
  • seasonal sales cycles

and this evidence will show up when you run your P&L reports, as well as your inventory sales and stock-on-hand reports. If, for example, you identify that May, June and July is your busiest quarter, while November, December and January is your quietest, and where you struggle to meet your outgoings, you should implement strategies to better plan for that leaner period.

A seasonal period of downturn is common among most businesses. It’s how you manage and plan for that downturn that separates successful businesses from ones that aren’t. For example, it’s unwise for a sole trader to take a holiday March, a seasonally busy period for his business, when he could wait until June when it’s much quieter.  

Your bookkeeper will play a key role in how you plan and manage your cashflow. Ask them to run reports that will help you to identify any inefficiencies in your business that’s causing poor cashflow, and implement strategies to better manage it.

Bookkeeper, BAS Agent or Finance Manager

start a bookkeeping business & find a good bookkeeperIf you’re looking for a reliable bookkeeper to manage your daily or weekly bookkeeping and accounts, either remotely or in-person, Tracey from Rockingham is a highly qualified bookkeeper, who also has the practical experience of having operated her own business in the past. Tracey has a lot of experience in the day-to-day accounting functions of a small business and you can contact her directly as a fully licensed member from her profile page.

Our National Bookkeeping website has recently gone through a significant upgrade so watch out for more stories about featured bookkeepers in forthcoming blogs! Join and we can feature YOU in our articles too. Subscribe and stay tuned to learn about some new members who have moved from the corporate world to focus as Finance Managers for small to medium businesses. 

Learn How to use Xero EzyLearn Online CoursesXero for LIVE data and Accurate Reports

Xero enables business owners and their bookkeepers and financial managers to see what is going on RIGHT NOW and because it’s popularity is growing we’ve created a NEW Xero course which goes through a great example of the business decisions that a business owner makes about buying an investment property, figuring out which products/services provide a better Return On Investment (ROI) and more.

Check it out at Xero Cashflow Course and remember that existing EzyLearn students can get access to this course by just sending an email request to student support.

 

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Different Ways to Find Work as a Bookkeeper

How can you earn money from bookkeeping?

different ways to find work as a bookkeeper online myob xero excel quickbooks training
It isn’t essential to become a registered BAS agent in order to find regular work as a bookkeeper.

BAS AGENTS PERFORM MANY of the same tasks as a basic bookkeeper, which includes entering receipts, coding financial transactions and generating invoices, but there is just one key difference: registered BAS agents are allowed to prepare and lodge activity statements on behalf of their clients.

In order to become a registered BAS agent, you must have completed, at a minimum, a Certificate IV Financial Services in either bookkeeping or accounting through an accredited and nationally recognised training provider.

Most people don’t have much trouble completing the Certificate IV, but the requirements set out by the Tax Practitioner’s Board (TPB) that often present a barrier to becoming a registered BAS agent. See the list of blogs below for more information about becoming a registered BAS agent.

Tax Practitioner’s Board BAS agent requirements

In addition to completing a Cert IV, in order to become a registered BAS agent the TPB also requires you to have at least 1,400 hours of work experience. This work must be done under the supervision of a registered BAS agent or accountant in the past 4 years (it’s 1,000 hours if you’re a member of a professional association).

You also need to have completed a board-approved course in basic GST/BAS taxation principles (this course may be included in your primary education). There are also mandatory continuing professional development (CPD) requirements that each BAS agent must keep up with in order to remain registered.

There’s a lot to do, but becoming a registered BAS agent isn’t the only way to carve out a successful career for yourself. Depending on how you want to work, there are plenty of other options you may also consider, such as:

Work for other bookkeeping businesses

If you work as an employee of a bookkeeping business, you can perform all the same tasks and duties as a registered BAS agent can, as you’ll be covered by their BAS registration and oversight.

As long as you are on the bookkeeping business’s payroll, you can provide BAS services — that means, you can also work as a casual or temporary worker providing you don’t invoice for your work using an ABN, but instead use your tax file number. This may also have other benefits, too, as the business will be required to withhold tax and contribute to your superannuation.

Work directly for a business as a wage earner

Again, as long as you’re on the business’s payroll, you don’t have to be a registered BAS agent to provide BAS services. The only difference here is that, while you can prepare the business’s activity statements, you won’t be able to lodge them. They will need to have their accountant do that last step, instead.

You can still work under a similar arrangement as mentioned above, either as a part-time, casual or temporary staff member, and, so long as you’re drawing a wage from the business, you can perform BAS services.

Carry out basic bookkeeping from home on the side

You may even choose to provide basic bookkeeping services to small businesses remotely from your home office, and still invoice them using your ABN. Many bookkeepers work as virtual assistants and some work a combination of casual and part-time hours for bookkeeping or accountancy practices, or as an employee of a business, and supplement their income with some basic bookkeeping work on the side, which offers both flexibility and stability at the same time.

***

Thinking of expanding your bookkeeping skills? Considering becoming a BAS agent? Check out just some of the blogs we’ve featured on BAS agents:

Want more advice and information? Subscribe to our blog.

learn online training Xero courses videos for less

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. 

 

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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.

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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?

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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.

Announcement: Microsoft Excel 2016 Beginners’ to Advanced courses now available!

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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).
When you enrol in Lifetime Course Access you get access to ALL versions and ALL FUTURE VERSIONS as we continually update them — at no extra cost!
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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. 

 

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Could Your CURRENT Bookkeeper be Jinxing their Replacement?

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How easily could you replace your bookkeeper?

WHETHER YOU USE A contract or remote bookkeeper, it’s crucial that they keep your bookkeeping in good order. If you ever have to replace them, you don’t want to be redoing your entire bookkeeping system.

So what are some ways that bookkeepers can work, and what can they include in their bookkeeping, that makes it easier for someone new to pick up the reigns? Let’s take a look:

Continue reading Could Your CURRENT Bookkeeper be Jinxing their Replacement?
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Importing Bank Statements into Xero

Making bookkeeping easier, faster and more accurate

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You’d be surprised how many business owners don’t even know how to import their bank statements into their accounting software. Are you one of them?

WE HAVE CREATED A brand new Cash Flow Reporting, Budgets and ROI Course for Xero and one of the things you’ll learn is how to import your bank statements into Xero.

The sales spiels of many of the notable online accounting software packages like QuickBooks, Wave Accounting, Outright, Kashoo, LessAccounting, Clearbooks and even Xero, claim that this feature will save you time and effort as it imports your bank transactions. The truth is, this is not foolproof and won’t work 100 percent of the time (even if it’s just a matter of not being able to get your software and your bank to “connect” just as your mobile phone connection inexplicably doesn’t work sometimes).

Therefore, always double check your bank transaction data has been imported accurately. This said, importing your bank statement into Xero (or whatever accounting software you use) is a really important step in the bookkeeping process that a lot of business owners forget or don’t know how to do. And the technology is only going to get better!

Using the correct format

To import your bank statement into Xero, you must ensure it’s in the correct format. Xero can only work with a CSV file of your bank statement. Depending on your bank, you might be able to download your bank statement as a CSV file from your internet banking, or you will have to create one from scratch.

Creating one from scratch isn’t too difficult. If your bank doesn’t give you the option of downloading a bank statement as a CSV file, you can create one yourself in Microsoft Excel.

You can download an Excel template from Xero. It includes the recommended fields and is already set up as a CSV file, so all you need to do is add in your data.

Set transaction rules

Once you’ve created and uploaded your bank statement to Xero, you’ll need to set up transaction rules for recurring expenses. You’ll learn how to do this in our Cash Flow Reporting, Budgets and ROI Xero Course.

Setting rules for recurring transactions helps speed up the reconciliation process, which depending on the type of business you operate and how often you reconcile your account, can be the most time-consuming part of the process.

Importing your bank statement and creating rules for transactions that occur each week, month fortnight, year, etc, greatly speeds up this process.

No CSV? Use bank feeds

If your business has lots of expenses every week, and your bank doesn’t let you download your bank statement in a CSV format, you may find that manually creating one in Excel each month is too time consuming.

Set up bank feeds instead. Bank feeds is the process of linking all of your business accounts, whether they’re credit cards or bank accounts, to your accounting software, so that each time you make an electronic purchase, it’s automatically imported into your accounting software.

This will allow you to reconcile your account each fortnight, week or more frequently, if you desire, than once a month when your bank statement comes in.

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Bank feeds save your business time and money. Find out more about setting up automatic bank feeds in Xero and importing bank statements into Xero. You can also read more about our new Cash Flow Reporting, Budgets and ROI Course for Xero, visit our website or enrol today!

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