Easter is coming! And so it is Fringe Benefits Tax time. (Insert applause). We know. It's not half as exciting, is it? Yet it is all just as important as unwrapping those golden chocolate eggs on Easter Sunday. We'll leave those visions with you but for now, back to FBT. What is Fringe Benefits Tax? Fringe Benefits Tax, known as ... read more >>
When managing the sale of a property there are some handy do's and don'ts to ensure the process is smooth with no costly hiccups. By following the below steps, you are in the best position for the settlement to go through without a fuss, and on time. Keeping everyone in the process happy. And paid! Breakdown items Provide a clear ... read more >>
Over and over, we see a lot of clients revoking months and reversing payments. Not only does this cause havoc, it causes you more stress! It’s simple. One way to fix it. Just don't. So what should you do? Reach out and ask for help before trying to fix it yourself. We all know there is that temptation to jump ... read more >>
What's that phrase we are taught by our parents as kids? You learn from your mistakes. In some cases, not! We continue to see the same mistakes pop up year after year. So we bring you our top 6 mistakes for 2023. It's just those same mistakes over and over! Top 6 Trust Accounting Mistakes for 2023 Revoking Don't ever ... read more >>
We all know those people who like to eat their ice cream cones from the bottom up. Note to self - do not hang out or be influenced by these people. They are odd. Same goes for your ledgers and banking. Do not do your process in reverse. You'll just end up with ice cream all over your shirt. So ... read more >>
Earlier this month we discussed unpresented payments and how to avoid them. This week we go one step further with best practice when dealing with unpresented cheques. The use of cheques has been declining in Australia and many other countries due to the increasing popularity of online banking. According to 9news.com.au cheques will be completely phased out in Australia by ... read more >>
We all have those things that keep rearing their little heads every month. One being unpresented payments. Do we hear a hell yeah? What is an unpresented payment? An 'unpresented payment' in a Trust Account typically refers to a transaction or payment that has been recorded in the Trust Accounting system but has not yet been presented to the bank ... read more >>
Need a brush-up on your End of Month Trust Accounting reporting requirements? Do not fear we have you covered. Better yet, we have kept it nice and straightforward to summarise our top 5 pointers to ensure you have your Trust Account in working order. These 5 simple and straightforward requirements are all you need to know to complete your End ... read more >>
What is Outsourced Trust Accounting? Ah the golden question. It's truly one of our favs. First off, let me tell you what it certainly is NOT. It's not just balancing a bank statement to the software. OK good. So, what is it? In simple terms - it's our gift to you! Our Outsourced Trust Accounting is a combination of many ... read more >>
Do what you do best, and outsource the rest. Can I hear an Amen! Outsourcing. The best kept (or worst kept?) hack of a successful business. Those who outsource understand the immense benefit it can bring to your business. The silver lining of the COVID pandemic for business was the enforced ability to adapt. Working from home all of a ... read more >>
