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Is the Death of the Bookkeeper Imminent?

Happy New Year to all our readers! And take comfort in knowing that we think the death of the bookkeeper is FAR from imminent! Read the post to find out.
Happy New Year to all our readers! And take comfort in knowing that we think the death of the bookkeeper is FAR from imminent! Read the post to find out.

All right, so it’s not the most joyful heading we could have gone with on New Year’s Eve, but it’s not actually meant to conjure up doom and gloom! We have  researched and developed new online training courses for Reach Accounting and Xero, which have now been added to our suite of training courses that include the flagship MYOB training course. In the process we’ve spoken to a number of accountants to see what software they’re using, to ensure we’re providing the training courses you need to get a bookkeeping job. This is good news because you can then rely on us to inform you what more you may need to offer clients.

Throughout this process, we’ve come across a number of accountants who are using BankLink, an accounting service we’ve written about previously, which streamlines and automates the data entry portion of managing a client’s account.

The ‘In-House’ Extra Employee

For many accountants the BankLink software, which was acquired by MYOB in June of this year so they could further extend their reach into the accounting space, is being billed as an “extra employee” that never makes mistakes and is comparatively cheaper than the additional in-house bookkeeper or admin person headcount.

The big question for us is: Does this spell the end of the bookkeeper? For instance, think of the way personal computers did away with the need for the office stenographer working in a steno pool? The answer is that this is indeed possible — but this is only if data entry is the sole service you offer. Like most professionals today, the more specialised you are and the more services you can offer, the more likely you are to experience career longevity.

At the end of the day, software is only as good as the person who uses it. If you’re a highly experienced bookkeeper in a particular industry or possess a number of highly sought-after accounting skills, you’ll find BankLink a dream come true in that it eliminates the tedious, time-consuming data entry from your job.

BankLink: Giving You More Time

With more time on your hands, you’ll be able to grow your client-base — a goal for most small businesses and previously only available if you miraculously grew a spare set of hands, or employed a spare set of hands, at least. You may even be able to move your business out of the narrow bookkeeping space into the small business management space.

With the number of new small businesses increasing, the key to their individual survival in a highly competitive marketplace is good management — and who’s more suited to that job than someone with a thorough understanding of account keeping?

***

So while BankLink may spell the end of tedious, time-consuming data entry, for the experienced bookkeeper it presents more business and career opportunities — not less. Upskill and enjoy greater career success as a result.

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What is BankLink and Why are So Many Accountants Using It?

Your accountant can access your records easily via BankLink.
Your accountant can access your records easily via BankLink.

As we have freshly rolled out our new Reach Accounting course, as well as our new Xero Accounting coursein addition to our existing and ever so popular MYOB training course — we have been speaking to a number of different accountants across Australia to find out how they currently manage their clients’ bookkeeping needs.

What we’ve discovered during this R&D process is that an increasing number of accountants have told us that they use a service called BankLink, so we thought we’d take a closer look at BankLink to see how it works and what it means for the bookkeeper.

BankLink for Bookkeepers

BankLink is an accounting service that delivers bank transaction data from banks and financial institutions and directly to an accountant, which the accountant then uses to code their clients’ transactions.

For any uncoded data, there are number of online tools that allow an accountant to request additional information from their clients; the coded data is then used for GST, end-of-year tax reports, management reports and various other reports required for tax compliance.

In short, BankLink eliminates all of the data entry usually performed by a bookkeeper, and in June of 2013, BankLink was acquired by MYOB to further facilitate accountants as they manage their clients’ books.

For sole traders and very small businesses that have neither a bookkeeper, nor the time to manage the data entry side of their accounts, their accountant can now manage this for them easily and efficiently, without the added cost of employing an external bookkeeper.

One accountant, extolling the virtues of the BankLink software on the MYOB website calls Banklink his “extra employee; one that never makes mistakes, gets lots done and doesn’t cost much.”

***

BankLink is being billed as the future of accounting; the inexpensive future of accounting, where people are being replaced by machines and pieces of software.

So what might that mean for the humble bookkeeper? We look at this in our next post.

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Introducing Our Reach Accounting Course – The Low Cost Alternative to MYOB

Reach Accounting is giving small business owners a cheap accounting software solution.
Reach Accounting is giving small business owners a cheap accounting software solution.

Ever since we started offering online MYOB courses, we have been encouraging our students to start their own home-based bookkeeping businesses. We’ve also introduced new courses along the way, like our small business management course to encourage our students to become virtual assistants. Now we’re pleased to introduce our latest Reach Accounting Course to provide small businesses with a low-cost alternative to MYOB.

Finally! A Cheap Small Business Accounting Solution

For many small business owners operating fairly simple businesses (say, virtual assistants or teleworkers)  the need to invest in rather expensive accounting software like MYOB has probably never existed.

It’s not uncommon to find a sole trader who still uses Excel to create their invoices, and still keeps a shoebox-full of receipts that they then enter into another Excel spreadsheet, or else endure the wrath of their accountant if they don’t.

This is generally because there’s never been any low-cost accounting software available to them — that was until Reach Accounting, a division of Net Registry, entered the fray a little while back.

Because we’re constantly looking to help small business owners, we’ve partnered with Reach Accounting to offer small business owners a low-cost Reach training course, which includes a free trial of Reach to use while you’re taking the course.

In our new Reach Accounting course, we cover the following subjects:

  • DIY Accounting
  • Set up
  • Daily Transactions
  • Bank Reconciliation
  • Payroll

So if you’re a small business owner and you’re looking for some low-cost accounting software, Reach Accounting could be the solution. 

***

You can take a closer look at how Reach compares to MYOB. Want to know the honest opinion of a small business owner? We asked a freelancer to test-drive Reach for 30 days; see how it works for them.

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The Lowdown on Zoho Invoice

If you're mainly just invoicing your clients, Zoho Invoice may be all you need by way of bookkeeping software.
If you’re mainly just invoicing your clients, Zoho Invoice may be all you need by way of bookkeeping software.

In a previous post we discussed Zoho and the range of turnkey solutions they offer small businesses. We specifically mentioned Zoho Books, which is the bookkeeping component of the Zoho Business Apps package and not that dissimilar to MYOB.

We offer training courses in MYOB, because it’s the market leader in accounting software and because it’s the preferred software of choice for most accountants. For start-ups or other small businesses, however, Zoho Books or Invoice might be all you need for your business, which is why we’re going to provide some videos on how to use Zoho.

Just What is Zoho Invoice?

For now, though, we’re going to look at the functions of Zoho Invoice. If you have recently started your own virtual assistant business or another business that really only requires you to invoice your clients, then Zoho Invoice is all you would really need.

The best thing about Zoho Invoice is that if you have 5 or fewer customers and only need access for one user, it’s completely free — forever. After that, the next step up is the standard plan, which allows you to have up to 500 customers and 3 users for $USD15 a month; the professional plan costs $USD30 with unlimited customers and unlimited users.

Even if you use the free plan, you can still access all of Zoho Invoice’s features, including time tracking, recurring invoices, expense, tracking, multi-currency, payment gateways and automated overdue payment reminders; you can even customise your invoices with your company logos and branding.

As your business grows, you can upgrade your plan to the standard or professional versions of Zoho Invoice, or even upgrade to Zoho Books if you’re in need of a more comprehensive piece of accounting software. There’s also an iPhone and Android app for Zoho Invoice, which allows you to create invoices on the go.

While Zoho is an American owned and operated company, you’re still able to customize the settings for an Australian business. This means you’re able to charge in Australian dollars, add GST, and you’re able input information like ABNs.

The downside is that there isn’t a local number for their customer service team, so you have to get in contact via email. That being said, Zoho has an online forum where you can ask and answer questions and they also provide a number of videos to help you with troubleshooting.

***

Overall, Zoho Invoice is a good piece of cloud-based invoicing software that is both inexpensive and highly functional. For a virtual assistant or a start-up that only needs to invoice customers, it sure beats the hell out of that tired, old Excel invoice! Stay tuned for more on Zoho and the Zoho Office Suite.

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Do you need the MYOB software to do our MYOB courses?

Free MYOB test drive software
Free MYOB test drive software

A common question we are asked about our MYOB courses is if you need to have the software on your computer to do the course. The good news is that MYOB offer a free version of their software for students and trials, it’s called the MYOB Test Drive.

You could do most of the MYOB courses without using the software because we have over 170 MYOB training videos (covering BOTH MYOB version 19 and earlier AND MYOB version 11 and newer – all for the one price). You can also test your skills using our MYOB course knowledge reviews, but there is no substitute for actually using the software as you learn. The biggest thing it will give you is the confidence to say “I’ve done that using the software”.

Our MYOB training workbooks include step-by-step exercises that enable you to perform most of the tasks that are performed at a business so you’ll definitely need to have the software for that. But many students like to replicate what they see in the training videos.

[quote]You can pause the MYOB videos and have a go at replicating it using the free student MYOB software.[/quote]

If you are looking for bookkeeping or accounting jobs you will almost always be asked about your MYOB skills and nothing gives you more confidence than actually using the software.

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Internet Marketing Scholarships Available for Mums in Chatswood

Digital Business Course - Google marketingPerhaps you’re a mum who’s available during school hours and want to start your own business? We might have the opportunity for you. Due to the success of our MYOB training courses and with requests from our students we are developing the Digital Business Course in conjunction with the Australian Small Business Centre.

[quote]We’re looking for talented mumpreneurs who want to learn some new skills while working with a live online training business.[/quote]

With the Small Business Management Course on our Learning System we’re keen to help mums create a business plan for their own business from our office right here in Chatswood. If you’re a reader from another part of Australia (or the world for that matter) you can still learn about our developments at this blog and at the Small Business Centre blog.

Michelle provides support for MYOB course students
Michelle provides support for our MYOB training course students

Michelle recently started on our training support team and we are looking for mums to help us with the development of the Digital Business Course and we are looking for mums who have excellent skills or motivation in:

  • Graphic Design
  • Business and Blog Writing
  • Website Design using WordPress
  • Social media
  • Online and Telephone based support
  • Bookkeeping
  • Marketing and Advertising
  • Google Online Marketing

If you would like to join us on a journey of learning and growth please enter your details at this form: http://www.australiansmallbusiness.com.au/services/business-service-provider/ (make sure you mention the EzyLearn blog post and we’ll receive all your information).

You’ll be interested to know that our Digital Business Course is designed around helping a printing business in Artarmon get a professional website using WordPress, but more importantly students will learn about:

  • Integrating social media,
  • Creating and optimising a blog (just like this one!),
  • Using YouTube
  • Using Google Analytics to measure your results
  • Getting the most from Google Adwords
  • Learn about Google authorship
  • Google Local Marketing

Students will also learn about a host of other Google services available to help businesses become more visible to their potential customers and step into the new age of online marketing. Students will learn about how to make a business “relevant” in Google searches.

The other aspect of our Digital Business Course is we want to educate mums how to perform the tasks that many businesses need to become visible online. In the same way that learning MYOB enables mums to work flexible hours from their own home, the Digital Business Course will provide an excellent structure to enable mums to work flexible hours while helping businesses get into the digital age.

Enter your details at this website for an opportunity to win a scholarship:  http://www.australiansmallbusiness.com.au/services/business-service-provider/

 

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Admin Assistant position filled and new MYOB job at Chatswood

Michelle provides support for MYOB course students
Michelle provides support for our MYOB training course students

Did you remember receiving that blog post about us looking for a person to work with us doing office admin in Chatswood? Michelle, one of our MYOB course students, completed her Business Service Provider profile and fit the bill so we brought her in for interviewing.

You might recall that we wrote about an MYOB course student who also created a website for her fathers business? It was Michelle!

Michelle is a hard working mother of two teenage children and she has worked hard to learn new skills, while managing her fathers business, building it’s website and lots of other great things.

Michelle is now part of our team and she’s learning a lot of new things about how we operate our business, how we promote ourselves online and also how we use online marketing tools like Google. Most importantly I’m introducing her because she’s available to help current students get through their course as part of our Student Community and Tutor Support program to helps them in their journey to find MYOB jobs.

But more than MYOB, Michelle is currently completing her Cert IV in Small Business Management with the aim of being able to help people start their own business or manage their existing business better.

Welcome aboard Michelle 🙂

We’re revamping our Student Community and Tutor Support service to specifically focus on skills to help students find MYOB jobs and learn small business management skills and Michelle will be available to help students.

MYOB jobs in Chatswood and Gold Coast.

I was so impressed with the result of our search that I’m reaching out again. We are looking for another admin assistant at our Chatswood office and also in the Gold Coast area so if you live in these areas make sure you complete the Business Service Provider and tell us a bit about yourself. We prefer to work with students who have completed our course and understand how we operate our business so you get the first chance!

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BAS News Flash: BAS Agents Can Now Lodge TPARs

If you're a registered BAS agent you just became a whole lot more valuable to your clients!
If you’re a registered BAS agent you just became a whole lot more valuable to your clients!

BAS agents can further specialise in the construction industry

WE LIKE TO KEEP our online cloud accounting course graduates up to date with changes to the bookkeeping industry and today is no exception!

If you’re a registered BAS agent working in the building and construction industry, then we’ve got some major news for you: the Tax Practitioners Board (TPB) announced in July that BAS agents can now lodge Taxable Payments Annual Reports (TPAR).

Making more money as a bookkeeper

In an earlier blog, we talked about how you can improve the rate you earn by specialising.  Carving out a niche for yourself — for instance, honing your skills in a particular sector, like the building industry, with all its complexities — will also see you able to earn top dollar (this is exactly what the professionals at Buildon Bookkeeping do).

Taxable Payments Annual Reports (TPAR’s)

Before you can register with the TPB as a Tax/BAS agent, you’ll first need to work under the supervision of another Tax/BAS agent. If you are planning to work in the building and construction industry, you might consider working under the supervision of a Tax/BAS agent providing bookkeeping services within the industry already — so you can get a handle on lodging TPARs.

TPARs are an annual report outlining every payment made to suppliers and contractors for that financial year. Every entity or business within the building and construction industry must now prepare one.

When TPARs first came into effect in July last year, only tax agents were able to prepare the report, but on 15 July 2013, the TPB announced that BAS agents could now provide this service, which must be lodged by the 21July every year.

But wait, there’s more! The TPB has also amended the Tax Agents Services Act (2009) to allow BAS agents to provide the following services:

  • Superannuation Guarantee Contribution and Superannuation Guarantee Charge work
  • Superannuation Contribution payment and reporting services

As the Institute of Certified Bookkeepers understands it, BAS agents will not have to become registered with the TPB to provide these services, even though they were typically services carried out by a Tax agent.

***

If you’re a registered BAS agent, you just become a whole lot more valuable to your clients, particularly if you work within the building and construction industry.

If you’re still unsure about the services you can now provide your clients, see the Institute of Certified Bookkeepers website, and for more information on lodging TPARs, click here.


 

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EOFY Tips: Keeping the Accountant Happy

bookkeeper accountant eofy tax preparation list
As a business owner, you don’t need to dread the 30 June!

30 JUNE IS VERY LIKELY a date dreaded by most bookkeepers. If you’re new to bookkeeping, we know it takes a while to remember everything that needs to be done, which is why we’ve been putting together blogs containing EOFY tips and checklists to make sure you make it to August!

And continuing in that tradition, we’ve put together one more checklist to help you out with your end of financial year analysis — some tips on keeping your clients’ accountants happy.

End of Financial Year Checklist to Keep Your Accountant Happy

Once you’ve done all of your EOFY reports, reconciliation and payroll (see our EOFY payroll checklist), you’ll need to forward on a few reports to your clients’ account.

These reports will vary from client-to-client and depend greatly on the size of the company, entity, or what services you’ve been engaged to provide, but typically every accountant will need the following:

  • Reconciliation Reports — BAS GST, payroll and accounts
  • Reports — balance sheets, P&L, general ledger accounts, accounts receivable & accounts payable at 30 June
  • Details of any motor vehicle usage
  • Accounting Information System copy of data file (backup)

For more tips to help you through your end of financial year analysis, see our EOFY checklist or our EOFY payroll checklist posts or visit the Institute of Certified Bookkeepers website.


learn online training Xero courses videos for less

Want to learn everything you need to know about Xero? 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.  EzyLearn courses are endorsed by industry professionals and can be counted towards Continuing Professional Development (CPD) pointsFind out more about our Xero online training courses.

 

 

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1 JULY 2013: The Compulsory Superannuation Guarantee Increased

Keep up to date with the government's increases to superannuation.
Keep up to date with the government’s increases to superannuation.

Now that we are offering the Small Business Management Course, and with so many of our MYOB Course students running their own businesses, many of our readers will know that the Superannuation Guarantee (SG) rate increased on 1 July to 9.25% in a government scheme that will see the SG rate increase incrementally until it reaches 12% in 2019-2020.

The increase to the SG rate follows 2010’s Henry Review, which identified that the number of Australians over the age of 65 would increase from 3 million to 8.5 million by 2050.

Who Pays? Workers or Employers?

The scheme can be seen as a coup for workers. Business owners, however, will receive no government assistance in meeting the new rate. As such, the scheme has been criticised by some economists who believe it will adversely affect low-income earners.

Writing for ABC’s The Drum, Sinclair Davidson a professor in the School of Economics, Finance and Marketing at RMIT University, called compulsory superannuation a “fiscal illusion”.

“The illusion,” Davidson writes, “revolves around the fact that superannuation is an ‘employer contribution’ — many people think superannuation is paid by employers and not employees.”

While the government will kick in an extra $500 for those low-income earners taking home less than $37,000 per year, the increase to the SG rate for most workers will mean a reduction in their take-home pay, though maybe not immediately.

Conceding that many employers will reduce pay rises in order to offset the cost of the SG rate increase, the government has, however, cautioned business owners that breaking wage agreements won’t be tolerated.

But given most employers now advertise salaries as a “package” that includes superannuation, holiday and sick leave, annual leave-loading, overtime, and the like, a $60k salary package just became $150 lighter almost overnight.

On the upside, however, by increasing compulsory super contributions by 3 percent, an aggregate $500 billion will be added to the existing pool of superannuation savings by 2050.

If you’re a business owner, as it’s now 1 July, you must pay 9.25% super for each of your employees until 1 July 2014, when the SG rate will increase again to 9.5%.

For a full schedule of the SG rate increases visit the Future Tax Website.

 

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Office Admin Assistant Wanted in Chatswood

Perhaps you’re a mum who’s looking for part-time work and wanting to start your own business? We might have the opportunity for you. We have taken some office space in Chatswood and we want to work with talented mumpreneurs to help us with various aspects of our business.

Now that we have the Small Business Management Course on our Learning System we’re also very keen to help mums with their own business from our office right here in Chatswood. If you’re a blog subscriber from another part of Australia (or the world for that matter) you can still learn about our developments at this blog and at the Small Business Centre blog.

We are looking for someone to help us with Day-to-Day administration but we are also looking to work with mums who have excellent skills and motivation in:

  • Graphic Design
  • Business and Blog Writing
  • Website Design using WordPress
  • Social media
  • Online and Telephone based support
  • Bookkeeping
  • Marketing and Advertising
  • Google Online Marketing

If you would like to join us on a journey of learning and growth please enter your details at this form: http://www.australiansmallbusiness.com.au/services/business-service-provider/ (make sure you mention the EzyLearn blog post and we’ll receive all your information).

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What You Need to Do Before 30 June!

Print out our checklist of what you need to complete before the end of financial year.
Print out our checklist of what you need to complete before the end of financial year.

If you have recently started your own business after completing our online MYOB training course, and this is your first time doing end of financial year (EOFY) analysis, never fear — here’s an EOFY checklist to make sure you’re ready!

Even if you’re a veteran bookkeeper, these are still handy tips that are often overlooked in the rush to get everything ready by 30 June.

Before the EOFY:

  1. Make sure you present and clear any old cheques before 30 June before you reconcile your bank accounts — you don’t want to leave these until the following financial year, as it create problems later on down the line.
  2. Also chase-up any outstanding debtors (people who haven’t paid an invoice that’s overdue) as, again, if it’s paid after 30 June, this can create problems later on.
  3. If you have any outstanding debtors that are more than 12 months old, cut your losses (so to speak) and claim back the GST.
  4. You should also write off any old stock if it is also more than 12 months old.
  5. Once this is done, reconcile your accounts — is your un-deposited funds account bank to nil? If not, you need to go back and investigate why.

Now for Payroll:

  1. Don’t forget that the superannuation guarantee will increase to 9.25% from the 1st July this year — make sure you update your records so you don’t get caught out later on down the track.
  2. Make sure you have all of your employees’ tax file numbers before 30 June.
  3. Pay your June Superannuation Guarantee Charge (SGC) by 30 June this year to ensure you actually get the tax deduction this year.
  4. Also make sure you pay all your SGC obligations before 28 July 2013 to avoid SGC review and all the time-consuming paperwork that goes with it.
  5. Don’t leave your payment summaries until the last minute — by law you have to provide these to your staff by 14 July, so you give yourself plenty of time.

 

Remember: In MYOB the software requires you to enter a tax file number for all employees regardless of whether they have one or whether you have to print a payment summary for them or not.

In this instance use the following codes:

  • For a New Payee that has not made a TFN Declaration, but 28 days have not passed use: 111 111 111
  • Payee is under 18 years of age and earnings do not exceed $350 per week, $700 per fortnight or $1,517 per month use: 333 333 333
  • Payee is an Australian Government pensioner payee use: 444 444 444
  • Payee chooses not to quote a TFN and has not claimed an exemption from quoting a TFN or does not fit into any of the above categories use: 000 000 000.

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And while we’re dispensing handy tips, we find that if you have a checklist of all the things you must do for as part of your end of financial year analysis, you’re less likely to forget anything. So why not print out this list and keep it by your desk so you don’t get caught out.

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How to Get Paid on Time by Doing Absolutely Nothing

Doing nothing in office
Keep on top of invoices without lifting a finger!

In the past, we have talked about debtor management, the ways you can avoid late-payers by keeping an eye on your cash and assets cycle, and now we thought it was time we talked about the ways you can keep on top of those outstanding invoices without even lifting a finger!

Why Getting Paid on Time Matters

Dealing with late-payers is frustrating, time-consuming, and at times, downright awkward. For freelancers, sole-traders and small businesses, getting paid on time is essential to keeping your cash flow under control.

If you’re not in the position to turn down those perpetual late-payers’ business, then you need to put strategies into place to best manage those late-payers.

Gentle Email Reminders for Getting Paid on Time

Sending a polite, yet firm reminder email to clients a few days before their invoice becomes due is a good way to remind people an invoice is due to be paid, particularly if you have terms of 21 days or more. Often you’ll find most people will pay you once they’re given a gentle nudge via an email reminder.

Of course, there are always those who’ll still try and stretch it out as long as possible — it’s likely their cash flow isn’t much chop; in a sense, by paying you late they’re robbing Peter to pay Paul.

Most of the time, these clients are hoping you haven’t noticed. By sending them a follow up email reminder a couple of days after your invoice was due will show them you have noticed, you haven’t forgotten, and they’ll likely concede defeat and pay — if they still don’t respond, it may be time to implement some of the strategies we discussed here.

More Stringent Payment Terms

But if you find emailing you clients each time their invoices come due and then again when they’re late is not only time-consuming, but also awkward, try setting up the parameters in your invoicing software so that automatic reminder emails are sent out before and after your invoices come due.

Most cloud-based accounting programs, like Freshbooks, Zoho, Shoebooks, Saasu and Salestastic now offer this automatic reminder facility, freeing you up to concentrate on the other areas of your business.

For businesses that have a dedicated accounts receivable department, the ability to send automatic reminders could, depending on the size of your business, save hours, even days of manpower. Plus, it eliminates any awkwardness you may feel chasing someone for a $50 invoice — sure, that one $50 isn’t much, but over time they do add up.

So get paid on time without even lifting a finger by using the automated reminders in your accounting software.

Remember: If you have already completed one of our MYOB training courses and need a bit of a refresher on the Accounts Receivable module, which deals with the ways to get paid on time, you can review it again for FREE if you are within your 12 month enrolment access period OR if you selected our additional option of Lifetime Access.

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The Skinny on Resume Writing

Basic do’s and don’t on resume writing

Resume writing to perfection
There’s an art to resume writing but it’s not rocket science.

The job market is tough; that much is true. But if you’ve been sending out your CV with very little response, the job market is only one part of the problem. It’s more than likely that your resume isn’t doing you any favours.

Keeping resume writing simple

Resume writing is about showing prospective employers why you are the best fit for a position and their organisation. It’s not about listing all the jobs you’ve ever had in the past — a café owner looking for a new barista is probably not interested in the three years you spent working in a corporate law firm.

When it comes to pointing out your experience, there are some basic do’s and don’t’s to resume writing. A resume shouldn’t be like a laboured novel; nor should it be so subtle in pointing out your experience that the reader is left to work out exactly how your experience applies to the position they need to fill — recruiters don’t have time for that.

And remember, the majority of companies today outsource the recruitment process to recruitment agencies that receive thousands of CVs and resumes on a daily basis for their large portfolio of clients. Even those companies that still  handle recruitment themselves will have extremely busy HR departments; even in large companies, often there’s only one person reviewing the abundant CVs they receive.

35 seconds to make your mark

When it comes to resume writing, you have to get them in quick! Being time poor and exceedingly busy, most recruiters only spend about 35 seconds on each CV or resume.

This means you have 35 seconds to convince a recruiter that it’s worth reading your CV further or, better still, getting you in for an interview.

You’ll achieve this if you:

  • Get to the point, but don’t be arrogant — this is a massive turn-off.
  • Don’t over-embellish: if you didn’t actually do something, don’t say you did — you will get found out.
  • Are concise: don’t cram your resume or CV full of interesting (to you) but ultimately irrelevant previous positions (like dog walker in 1982), achievements or interests (ferret racing is better kept to yourself).

But don’t see the minimalist approach as an opportunity to get fancy with the design of your CV.

Unless you actually are a designer of some sort, just use a clean template that clearly highlights why you’re the right person for the job. I once received a CV formatted like a crossword puzzle to list the person’s experience and education; clever perhaps, but the CV after that was easy to read and it was that person I called in for the interview.

To avoid the daunting task of resume writing from scratch each time you decide to change employment, you should get into the habit of updating your CV on a regular basis.

Need more help?

EzyLearn is in a great position to help you with your resume writing because we understand the employment market and the needs of employers. We also have team members with top quality resume writing skills and experience in creating quality resumes for administration and bookkeeping positions in particular. Other related blog posts: Finding a Job Using LinkedIn

If you’d like to share your job hunting experiences with us and others, please visit us our Facebook page — you can also let us know here if you need help with resume writing. We can also help you brush up your Microsoft Word skills for resume writing


Social Media and Digital Marketing online training course_comp

Are you in business as a bookkeeper, tradesperson, retailer, trainer or real estate agent and want to stand out from the crowd? We can teach you the online marketing techniques to help you do just this! Check out what’s included in our comprehensive Social Media and Digital Marketing online training courses.


 

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The Cash and Assets Cycle: Monitor the Perpetual Late Payers

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There’s a regular cycle your business goes through every week, month or quarter. It’s a cycle that maybe you pay little attention to—it’s so simple, so entrenched in your business operations you hardly even consider it—but it’s time you took a closer look at what is called: the Cash Conversion Cycle.

What is the Cash and Assets Cycle?

As the name suggests, the “cash and assets cycle” starts with cash in the bank. This 5-step cycle then progresses through to purchasing stock; selling and invoicing that stock; offering payment terms (say 14 days, 30 days or cash-on-delivery) and finally, receiving payment. And so it goes, rinse and repeat.

Monitoring this cycle is vitally important to the success of your business—and your livelihood. But perhaps you’re wondering why.

Isolating the Late Payers

We’ve previously talked about why you need to keep on top of your bookwork so you can isolate any potential late-payers—called debtor management.

By keeping the cash and assets cycle in mind, it’s possible to see the real implication late-payers can have on your business.

With invoices left outstanding, you can’t start the cycle again—that is, purchasing more stock—and without stock, you’re left with nothing to sell and (obviously) no money coming in. You have literally reached a standstill and all because you didn’t monitor where you were in the cash and assets cycle.

Keep an eye on your cash and assets cycle and you’ll come to notice those perpetual late-payers, enabling you to put processes in place to better manage these customers.

These processes could involve things like requiring payment upfront, adding administrative charges, or when everything else has failed, debt collection.

But monitoring your cash and assets cycle, regardless of how easy it is to forget about, is essential to ensuring your cash and assets keep cycling. The setting up of professional invoices and payment terms are just some of the areas covered in our MYOB online training course.