Posted on

How To Get Discovered By Local Employers

Local Awareness Digital Marketing for Bookkeeping Academy members - find a local bookkeeper - EzyLearn

For small businesses bookkeeping isn’t a full time job. It’s often something done by the owner themselves or their partner in life and these people are not usually that good at it – PLUS they’re family and that throws up all sorts of issues and resentments.

Wives, girlfriends, partners and friends are often chosen as the small business bookkeeper because they are either cheap or trustworthy but that isn’t always a good reason to “use” them.

Many bookkeeping jobs are part time, casual or contract jobs because they only require a few hours to a day a week to do and that is why so many students start a bookkeeping business. A big problem with this approach is lack of skills in marketing and sales but the Bookkeeping Academy can help.

Continue reading How To Get Discovered By Local Employers
Posted on

You Don’t Need a Cert IV in Bookkeeping & Accounting to be a Contract Bookkeeper

Christina from Glenmore in Sydney graduated from the Xero Complete Training Course & Certificate and runs several businesses

Starting a bookkeeping business has been a go to option for many mums returning to the workforce, particularly if they did accounting and office administration work before having children.

I’ve been writing about starting a bookkeeping business at this website since we started our bookkeeping blog and as you can see it doesn’t have to cost a lot of money.

Since the GST, however and the creation of the Registered BAS Agent some things have changed.

Continue reading You Don’t Need a Cert IV in Bookkeeping & Accounting to be a Contract Bookkeeper
Posted on 1 Comment

Learn Xero AND the Integrations that make it a platform for work.

Xero Subscriber Growth - Learn Xero in our online training course and get an Internationally recogised Bookkeeping Certificate - EzyLearn

Xero have just announced their financial and performance results and the headline figures show strong subscriber growth all over the world, including UK and US where they are trying very hard to get market share like they have in Australia.

It’s now more evident than ever that if you get certified in Xero that you could work for a business in most modern countries around the world. Is that what they called Internationally Accredited?

Continue reading Learn Xero AND the Integrations that make it a platform for work.
Posted on

Bills to Pay, Past or Future, Xero or CBA

Xero-Analytics-Plus-is-a-paid-subscription-for-Short-Term-Cashflow-Projection-Online-Bookkeeping-Training-Courses-Certification-in-Xero

I was reading about some of the accounting features that Xero are building on in their software while also testing out Commonwealth Banks “Upcoming bills and payments”. What really struck me is how quickly the major banks are updating their software and systems to help small business owners manage their cashflow better.

When you use the Commbank App to access your account you can quickly setup the Upcoming bills and payments because the banks software sees that you have recurring payments that seem to happen every month, quarter, year etc. The great thing about this is that it helps you understand your liabilities in the short term and you don’t need to pay anything extra to have it or use it.

Xero on the other hand are constantly finding ways to increase their revenue and new features is naturally one BIG way they can do that. But it’s not all bad, of course.

Continue reading Bills to Pay, Past or Future, Xero or CBA
Posted on

What % of expenses can you claim to reduce your taxable income?

Working from home and claiming expenses using Xero & MYOB software training courses

We’ve received lots of training course inquiries from new business in this last couple of months and a question that came up recently was “do you have a course that explains how much I can claim”. The person was asking about how much of the cost of their car can they claim as an expense because they use it for their business.

The answer to this question reminded me of how “flexible” the taxation laws are in Australia. You can “claim” any amount that you want and unless you are audited by the ATO you could possibly get away with it!!

The correct way is to determine how much of your costs are actually associated with your business and use that percentage. The ATO goes on to explain how to do this in detail.

Continue reading What % of expenses can you claim to reduce your taxable income?
Posted on

Cert IV in Bookkeeping Changed to FNS40222 – Study Through EzyLearn’s RTO Partnership

There are many ways to get started with a career in finance and bookkeeping.  For those looking for a nationally recognised qualification, something like a Cert IV is a great way to learn the skills you need to find work or continue in your studies.

The Certificate IV in Accounting and Bookkeeping is a national accreditation provided by registered training organisations (RTOs).  It can start you on your way to becoming a registered BAS agent, or prepare you for roles like payroll officer and bookkeeper.  But the qualification has recently been updated!

Here’s what you need to know about the changes:

Continue reading Cert IV in Bookkeeping Changed to FNS40222 – Study Through EzyLearn’s RTO Partnership
Posted on

Xero Asks Nicely for Feedback using NPS, But EzyLearn Interviewed Xero Course Students via Zoom

If you’re looking into a business, maybe you’re thinking of buying a product from them, subscribing to a service, or even just doing a bit of research, one of the places you’ll want to go is the ratings and reviews page.

I’ve written before about how reviews and testimonials are more valuable than number ratings when it comes to revealing important things about a business but for medium and larger companies, who aren’t able to have a personal relationship with their customers, they have to rely on these ratings. They’re also used an opportunity to measure what matters to their clients.

One of the ways they do this is through Net Promoter Scores (NPS), and you’ve probably contributed to one even if you don’t know it!

Continue reading Xero Asks Nicely for Feedback using NPS, But EzyLearn Interviewed Xero Course Students via Zoom
Posted on

When a Bookkeeper Isn’t Just a Bookkeeper

start your own bookkeeping business registered BAS agent business

Why NOW is the time to become a work-for-yourself bookkeeper

THERE ARE UMPTEEN REASONS why starting a bookkeeping business is a great low-cost venture for people looking to take a step back from the corporate world, or even for those looking to do quite the opposite by working from home so they have the flexibility they need as parents to young children.

If you’re a subscriber of this blog, then you’ve read posts about National Bookkeeping, the company EzyLearn has partnered with to deliver training courses to people who become National Bookkeeping licensees.

However, I’m going to talk about it again because there are still too many talented people out there who don’t think they have what it takes to go into business for themselves. And I’m here to tell you, you do, and we’ll help you!

Continue reading When a Bookkeeper Isn’t Just a Bookkeeper
Posted on

When It’s Good to Offer Free Bookkeeping Help

woman working as a bookkeeper for free

Providing an initial consultation free of charge

IT’S NEVER REALLY a good idea to work for new client or potential new clients for free, particularly if you’re an established business. But it’s also difficult getting a client to feel comfortable that you’ll do a good job for them, when they don’t know you from the proverbial bar of soap.

Rather than working for free or charging less than the minimum wage for your bookkeeping services a better idea is to spend some time with your client, either in-person or over the phone, to go through your processes and procedures before you commence work for them. It’s also important that you make your clients aware of value adds you’re providing to them.

Continue reading When It’s Good to Offer Free Bookkeeping Help
Posted on 1 Comment

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?
Posted on

How Bookkeepers Can STOP Losing Out to Accountants

Junior level 1 bookkeepers good cheap local bookkeeping services - Natbooks

Or is it just BAS Agents who are losing out?

THE BURDEN ON Australian small businesses to stay compliant with the ATO is immense. A lot of that is to do with the Government not distinguishing between a small business with upwards of 20 staff, and a micro business which may have 5 or fewer staff — sometimes even no staff.

All of this compliance — bookkeeping, activity statements, payroll, superannuation, and so on — is costly and time consuming, so most business owners outsource this work to a professional contractor. Before the Government changed the tax laws, it was bookkeepers who small or micro business turned to.

Continue reading How Bookkeepers Can STOP Losing Out to Accountants
Posted on 1 Comment

Do You Need a Bookkeeper or an Accountant? Or Someone Else?

There are many finance professionals — who does your business need?

find a good local bookkeeper
Does your business need a bookkeeper, accountant or perhaps just a BAS agent – or a little bit of everyone?

WE’VE MENTIONED PREVIOUSLY THAT finding a bookkeeper, when you may not know much about bookkeeping, can be a difficult task.

In fact, a lot of new business owners assume their accountant will take care of everything for them, which may be costly if their accountant has to perform a year’s worth of bookkeeping in order to file the business’s tax return. But bookkeepers and accountants can work harmoniously in your business.

As a general rule, every business needs at least two finance professionals working on their business accounts, but which two professionals you’ll need to hire depends on your business needs. If you’re not sure who you need to hire for your business, here’s a cheat sheet to help you out.

Bookkeepers (not registered with the TPB)

An independent bookkeeper not employed by an accountant and not registered with the Tax Practitioner’s Board (TPB) may only perform basic bookkeeping services, such as the entering of receipts, coding financial transactions, generating invoices and, possibly, some accounts receivable work. If you hire this type of bookkeeper, you’ll still need an accountant.

BAS agents

BAS agents must, by law, register with the Tax Practitioner’s Board (TPB), which certifies that they are qualified and have completed the necessary continuing education requirements to perform the tasks of a BAS agent, which involves carrying out most of the bookkeeping tasks mentioned above, in addition to preparing and lodging business activity statements on a business’s behalf.

If your business is registered for GST, you will need to file regular activity statements. If you hire a BAS agent, you’ll also need an accountant. In some instances, you may find a BAS agent who’s also a registered tax agent and vice versa, who may be able to take care of all your taxation needs.

Tax agents

Although tax agents, like BAS agents, must also register with the Tax Practitioner’s Board (TPB), a tax agent is focused on income tax — how much income you have to declare, how much you can claim back, etc.

This is distinct from a BAS agent who is concerned with the day-to-day financial tasks of your business (bookkeeping and BAS lodgements). That said, some tax agents will also perform some the basic bookkeeping tasks on a regular basis, though they primarily specialise in lodging tax returns.

If you’re not registered for GST, and your tax agent will also perform regular bookkeeping tasks (or you can do it yourself), you may not need to hire an accountant. In some instances, you may find a tax agent who’s also a registered BAS agent and vice versa, who may be able to take care of all your taxation needs.

Accountants

An accountant is mostly concerned with planning and strategy. Unlike bookkeepers and BAS or tax agents, an accountant will assess and advise you on what actions you should take to maximise your income. Great accountants will get involved with planning the direction of your business and ensure it’s been structured properly and that you’re meeting any additional tax obligations.

They’ll also help you to make strategic purchases for equipment and machinery, and work with your BAS agent or bookkeeper to ensure these decisions are reflected in your daily financial records. An accountant is also able to prepare and lodge tax returns on your behalf.

How much should I pay a bookkeeper?

Check out the National Bookkeeping Directory, which features the details of bookkeepers, capable of doing data entry and clerical tasks, through to high-level accounting work as undertaken by BAS agents, accountants and CFOs.

You can also see the National Bookkeeping rates page to find out what level bookkeeper your business needs.


cashflow reports in xero and excel

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. 


 

Posted on 1 Comment

Top 3 Expense Applications for Xero, QuickBooks and MYOB

best-apps-for-myob-xero-quickbooks

Get your financial software working harder

best-apps-for-myob-xero-quickbooks
There are a number of apps which link with Xero, MYOB and Quickbooks to help you closely and seamlessly track ALL your business expenses.

WE PREVIOUSLY WROTE ABOUT using Expensify and Xero to do the grunt work of your account reconciliations. We’ve also touched on how Expensify works for retail shops, online shops and hospitality businesses.

This time we’re looking at other expense applications that not only integrate with Xero, but other platforms like MYOB and QuickBooks, too. (For the record, every transaction Expensify does with Xero, it also does with QuickBooks; and also for the record, we not only provide online training in Xero [all levels for one low cost] but MYOB and Quickbooks too.)

Here are some other expense tracking app integrations.

Continue reading Top 3 Expense Applications for Xero, QuickBooks and MYOB
Posted on

EXCEL: Other Data Sources You Can Use to Create a Pivot Table

The latest versions of Excel are jam-packed with new features!

learn online training excel cheap best online training excel course videos
How are your Excel skills? Brushing up or learning how to use Microsoft Excel as a business tool could see you brimming from ear to ear too.

WE’RE ALWAYS UPDATING OUR Excel training courses, and as we do so, we’re reminded of just how useful Excel continues to be for small business owners — particularly the latest versions of Excel which include a boatload of new features that make it easy to create and manage relational databases, which you can also use as the data source for a pivot table.

But supposing, for whatever reason, you don’t want to use an Excel database as your pivot table’s data source? Well, there are some other options to create a pivot table without manually entering the information into Excel first. Here are a few more data sources that you can use to create a pivot table in Excel.

Office data connection files

The office data connection (ODC) file extension was created by Microsoft and contains properties to connect to and retrieve data from an external data source. It contains a connection string, data queries, authentication information and other settings. Microsoft recommends that you retrieve external data for your pivot tables and reports using ODC files.

External relational databases

If, for instance, you’re using another relational database program, like Microsoft Access or Filemaker Pro, you can also import data directly from these programs into your pivot table, rather than manually entering the data into an Excel worksheet. In the case of connecting data from an MS Access database, you can do this quite simply by selecting Access from the ‘data source’ dialog box. For all other external databases, you would select the ‘from other sources’ dialog box and follow the steps in the data connection wizard.

Using another pivot table

Each time that you create a new pivot table, Excel stores a copy of the data for the report in memory, and saves this storage area as part of the workbook file. To use one pivot table as the source for another, both must be in the same workbook. If the source pivot table is in a different workbook, copy the source to the workbook location where you want the new one to appear. Keep in mind that when you refresh the data in the new pivot table, Excel also updates the data in the source pivot table, and vice versa. When you group or un-group items, or create calculated fields or calculated items in one, both are affected.

Create a database in Excel first

The easiest and most efficient way to create a pivot table is to create a database in Excel first. Here, you can update and manage as much information about your business — including customer data and financial data — and then use that as a data source for a pivot table.

***

Creating databases and pivot tables are part of our advanced Microsoft Excel training course, but you can start your Excel journey with our FREE beginners’ Excel course. Read more about our beginners, intermediate and advanced Excel training courses on our website, or enrol to start learning by 5pm tomorrow!


learn Xero online learning videos cheapest

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. 


 

Posted on

Marketing for When Your Business Strategy Changes

Where lead generation services are useful

lead generation services
Using a dedicated lead generation service can be more useful than advertising but the quality of the leads may be questionable.

CHANGING YOUR BUSINESS STRATEGY to include additional services will require an additional investment in marketing if you are to make this successful. In terms of simply paying money to advertise your additional services, as you’re probably already aware, advertising doesn’t always yield immediate results. Therefore you might consider spending money on a lead generation service.

We cover how to account for marketing and lead generation costs in our Xero training courses, which includes a new workbook that looks at what to do when your business strategy changes. Continue reading Marketing for When Your Business Strategy Changes

Posted on 1 Comment

Use Excel to Manage ALL Your Investments

Once You Master Excel You Can Do Anything!

using excel for financial forecast granny flat2
Excel is one powerful tool. Its formulas can be extrapolated to most any accounting software program.

In our Excel training Course there’s an exercise workbook on granny flat investments, which takes you through all the steps involved in developing a financial forecast for a granny flat. It can also be used to determine the financial forecast of any investment, not just granny flats.

Even though lots of cloud-based software applications have come along in recent years — Xero and MYOB and CRMs like Zoho — which have made it possible for lots of business owners to keep track of their financials and customer sales history without ever needing to open an Excel spreadsheet, Microsoft Excel is still the software used by accountants and analysts in nearly every profession.

Excel is flexible

Microsoft Excel may be difficult to master — indeed, it’s probably one of the most difficult in the entire suite of Microsoft programs — but it’s also the most flexible. The formulas sitting behind nearly every cloud-based accounting software can all be replicated and modified in Excel, where in MYOB or Xero, they can’t.

You can’t enter the details of your granny flat project or other investment into Xero and MYOB and create a financial forecast, even though near similar formulas are being used each time you run a profit and loss statement.

Cloud software is Excel plus PLUS

Before computers and Microsoft Excel came along, accountants used a pen and paper to keep track of their clients’ business financials. And before that, before the numeral system was invented, the abacus was the main accounting tool used by merchants and traders to keep track of their finances.

You probably have no use for an abacus anymore — although in some parts of Eastern Europe and Southeast Asia people still do — because, as an accounting tool, it’s too basic. But the same cannot be said about Excel, which is capable of handling complex formulas and rendering an answer.

Export accounting data into Excel

Because cloud-accounting software is essentially a very user friendly version of an elaborate, however inflexible, spreadsheet, it means you’re able to export your accounting data into Excel. Financial analysts and accountants do this when they need to carry out further analysis on a client’s financial data, and you can too.

Once you know how to use Excel for financial forecasting, you can use the same formulas and modelling for any financial forecast — be it for a granny flat project, business investment, anything that requires you to make a financial decision.

***

Visit our website for more information on our Microsoft Excel Training Course, with its new intermediate-level ‘Granny Flat Case Study’.

***

online bookkeeping courses to earn cpd pointsEzyLearn Excel, MYOB and Xero online training courses count towards Continuing Professional Development (CPD) for bookkeepers and accountants. We’ve been an accredited training provider of the Institute of Certified Bookkeepers ever since the organisation started in Australia. Find out how CPD points can be of benefit to you.