Your Bookkeeping Matters

Today, we're going to dive into a fundamental aspect of running a small business in Australia – understanding business structures. The structure you choose will define how your business is organised, how it's managed, and of course, taxed.Choosing the wrong structure can cause headaches down the road so it’s important to be informed before making a decision. If you have made the wrong decision though, don’t panic! I’ve been there myself, and while it costs some time and money, you can definit...

If you've ever struggled with managing loans, ATO bills, superannuation, or credit card payments, then today’s episode is for you! I’m taking on the topic of debt and sharing strategies to empower you in managing and crushing your debt. Taking a proactive approach is crucial for setting yourself up for long-term success. Here are some techniques to consider: 1. Budgeting and Cash Flow Forecasting:Creating a budget for your business will help you stay on top of your debt obliga...

Are you facing late payments from clients, and getting that panicked feeling about having to chase them up? I get it - and I know so many other business owners do too. In an earlier episode, I took you through my exact process for timely payments. Today, I’m diving a little deeper to discuss the power of personalised reminders and guiding you through the process to get paid quicker. The first step in creating an effective reminder system is to turn on automated reminders in your accounti...

Welcome to another short and snackable episode of Your Bookkeeping Matters. Today we're looking at some core practices that can take your business from good to bad. Whether you're a seasoned business owner or just starting, these actionable strategies will equip you with the tools and insights you need to elevate your business game.1. Mastering Your Numbers:Understanding your financial metrics can be transformative for your business. Start with your Profit and Loss Statement and Balance Sheet...

Welcome to another short and snackable episode, where I’m diving into why value matters most in your small business. Today, we’ll explore the idea that while earning money and making a profit is crucial for your business, it shouldn't be the driver behind it. I believe profit should be the result of what you're doing in your business and why.As a small business owner myself, I understand the overwhelming nature of keeping things in the business running smoothly, and how easy it is to lose sig...

Today, I want to talk about something that every business owner can relate to - cash flow. Specifically, I want to dive into the topic of getting clients to pay you on time. I'll be sharing my exact process, the lessons I've learnt from past mistakes and some practical tips that have helped me ensure timely payments from my clients. To help get you started, I share my top tips on optimising your invoice and payment processes:1. Online Payment Options Making it easy and fast for your clients t...

As a small business owner, it is crucial to wear many hats and outsource areas that require expertise. However, one aspect that often gets overlooked is paying yourself. Though it might not initially appear as a top priority, paying yourself serves as both a reward for your efforts and a means of securing a financial return from your business.So, How Much Should You Pay Yourself? Unfortunately, there is no one-size-fits-all answer to this question. The amount you pay yourself depends on vario...

We’ve all heard the phrase, “know your numbers” but what does it actually mean? Understanding your numbers can transform your business so today I’m sharing which numbers you need to know and how this knowledge can empower you to make strategic decisions and keep your business healthy.When I talk about knowing your numbers, I mean having a clear understanding of the financial aspects that matter to your specific business. It could be analysing your Facebook ad spend, monitoring your product le...

Today, I want to talk about something that has been bothering me for a while – tax invoices. As someone who deals with business finances, I often come across cases where business owners fail to issue proper tax invoices, which wastes time, money and effort for everyone involved. So in this episode, I talk about the importance of tax invoices, the key elements they should include, and the common mistakes to avoid.Tax invoices are essential documents that facilitate business transactions in Aus...

As we all know, change is constant. Whether it's a sudden market shift, technological advancements, or unexpected curveballs life throws at us, being adaptable is a key superpower every business owner needs.Today, I'll be diving deep into the concept of flexibility and sharing some practical strategies that will not only help you weather the storm of change but also thrive in it. I've personally experienced the power of these strategies in my own bookkeeping practice, and I want to...

Whether your business has been on a short break or you're raring to go, it's essential to start the year by setting goals and envisioning your journey. To help you navigate the financial aspects, I've compiled a handy New Year Small Business Financial Growth Checklist that will help you start the year feeling organised and ready to go.I hope you find this checklist helpful in framing your year ahead and reaching your financial goals. It’s important to start a new year feeling ready to ta...

This week, the show is taking a brief break, gearing up for the exciting new year ahead and crafting super fun episodes for your bookkeeping and business matters. With that in mind, let's take a stroll down memory lane to a classic episode, number seven, Where we delved into the unique challenges of e commerce accounting.In this episode, I’m sharing the eCommerce accounting challenges that you’ll come across as a business owner running your business online. I share the common mistakes I see w...

I'm taking a little breather over the new year, still in the background prepping some fun new episodes for you. So this week I'm bringing you not only a fan fave from a little earlier this year, but one of my own favorites. That's a write off. Isn't it? This one I step you through some of the nitty-gritty of business tax deductions, with a fun spin from our favourite Schitt’s Creek character, David Rose. If you need some help demystifying business expenses and tax deductions (particularl...

As another incredible year comes to a close, it's time to reflect on the journey we've shared as entrepreneurs. One topic that every business owner faces is financial hurdles. Today, I want to take a moment to acknowledge and tackle these challenges and help us set our sights on a bright year ahead.Just like you, I run my own business, and I understand the hard work, challenges, and rewards that come with it. Financial hurdles can manifest in various ways—a sudden dip in revenue, unexpected c...

As we approach the end of the year, amidst the chaos of festivities and business closures, managing your books efficiently is crucial. So today, I'm sharing some practical tips to make your bookkeeping process smooth, simple and stress-free. Let's talk about the importance of simplicity in bookkeeping. It's not about the task itself being easy, but about completing it with ease. I’m all about working harder, not smarter - and as cliché as that sounds, it makes sense, right? This can be achiev...

Your customers are at the heart of your business's success, so in this episode, we explore how centering customers in your business can be a game-changer for your growth. We'll explore putting customers at the core of your decision-making and crafting an exceptional journey for them. Drawing from my own experiences as a business bookkeeper, I'll share practical insights on how to map out crucial touchpoints, ensuring your clients have a memorable and positive experience.I take you back t...

Welcome to another short and snackable episode, where I’m simplifying the often-confusing world of fixed and variable spending costs. I've got some bite-sized number pieces for you, making it not only understandable, but actionable. By the end of this episode, you'll be a pro at working out which expense type your spending falls into and boosting your financial savvy. Fixed costs are those steady, predictable expenses that stay consistent month after month. Examples include rent, insuran...

Today, we're diving into a topic that might seem a little dull at first glance, but is absolutely crucial for safeguarding your personal and business data. Having seen my own clients fall victim to cyber crime, I encourage you to pay close attention as I take you through some cyber security essentials for your small business. Cyber crime is evolving rapidly, and criminals are becoming savvier in delivering their scams by the day. The repercussions can be catastrophic, often resulting in ...

Are you aware of what your bookkeeper can and can’t do? I often get asked by my clients to do things well outside my scope. However, this just comes down to people not having a clear understanding of the difference in roles between bookkeepers, accountants, financial planners and legal eagles. So today, I’m bringing you a short and snackable episode on a bookkeeper’s no-go zones, where we either tread lightly or don’t venture into at all. Now, you might be thinking, what’s the problem wi...

Many small business owners fall into the trap of a “do-it-all” mindset. We can think it’s quicker and easier to do all the work ourselves but this just isn’t true, and it’s a quick path to burnout. In this episode, I'm going to explore the incredible power of delegation and how it can be a game-changer for your business. I'll debunk some common misconceptions about delegation and share the myriad benefits that delegation can bring.I’ll also share my personal journey as a small business o...

Today we’re delving into a topic that often baffles small business owners: GST registration. If you've recently taken the plunge into registering for the Goods and Services Tax (GST) in Australia, you're not alone in your uncertainty. Many entrepreneurs find themselves lost in the maze of GST regulations and deadlines, leading to sleepless nights and the fear of making costly mistakes.But here's the good news: you don't have to navigate the complex world of GST registration on your own. In th...

I'm taking a short break to refresh and gear up for more fantastic bookkeeping and small business insights. During this quick hiatus, let's revisit another fan favourite from the podcast archive. It's all about the 5 mistakes new business owners make, a must-listen for budding entrepreneurs.Enjoy this episode and stay tuned for fresh content coming at you from next week.______________Everyone makes mistakes but if we reframe them, we can make them into fantastic opportunities to learn, change...

I'm taking a short breather to recharge and bring you even more valuable bookkeeping and business matters. During my quick hiatus, let's revisit a fan favourite from our podcast vault. It's all about pricing for profit and avoiding costly mistakes. This is essential for every business owner to be across.Enjoy this episode flashback and I'll be back with you soon with fresh content to supercharge your financial journey....______________This is a topic I love chatting about as it makes a huge d...

A skill that could truly transform your financial life is learning how to master your money mindset. Today I’m diving into this topic to share some insights on how you can conquer financial stress and take control of your financial journey.Money doesn't have to be a source of stress. It's all about our mindset and the stories we tell ourselves. So, where do these stories come from? Well, it turns out they're shaped by our upbringing, personal experiences, and the beliefs we've picked up along...

I’m back today with part two of our "Getting Foreign Currency Savvy" series. Last week we explored the world of invoicing sales in foreign currencies, simplified the basics of exchange rates, and discussed how using the right sales platforms or accounting software can facilitate super smooth transactions for your business. Today I'm flipping to the other side and focusing on how to handle expenses in foreign currency. Like always, I break it down step by step, providing you with the...

We're going global today as I dive into the fascinating world of foreign currency transactions. This topic may seem daunting at first, but as always, I’m here to simplify the complex world of bookkeeping and help you understand what you need to know. In this two-part episode, I'll provide you with valuable insights and tips to ensure you're not losing out when dealing with foreign currency exchanges, processing the wrong amounts, or not invoicing correctly. Understanding the nuances of f...

When it comes to reducing overheads in your business, a tempting solution can be to slash your bookkeeping budget. But let me tell you, that’s no solution at all. Today I’m talking about why cutting corners on your bookkeeping budget can actually backfire, leaving you and your business worse off. So, grab your favourite drink, settle in, and let's explore why your bookkeeping journey matters more than you might think.Bookkeeping is more than just crunching numbers. It's the quiet hero that pr...

If you've ever felt overwhelmed by the barrage of acronyms in the financial world, you're in for a treat. In this episode, I'll be your trusty guide, helping you decode the common acronyms that frequently swirl around in financial conversations. By the time we're done, you'll have the confidence to navigate these letters like a pro.Although it might seem like the confusing abbreviations are used to keep outsiders guessing, it's actually all about facilitating smoother communication among thos...

Last week, we talked about the vital importance of understanding your numbers, the heart and soul of your business. Today, I’m building on that foundation by delving into another crucial concept that I often mention, which is aligned spending. So, if you've ever wondered whether every dollar you spend truly aligns with your business vision, this episode is for you. Aligned spending is like curating your business's capsule wardrobe – intentionally choosing investments that resonate with a...

In this episode, we’re taking a step back from the nitty gritty to address a phrase you’ve undoubtedly heard me say: know your numbers. Now, this may appear to be a simple idea on the surface. However, there’s much more to it than getting out the calculator or reading your P&L. The truth is, understanding your numbers will be your trusted compass, guiding you along the way to success in your business. Today, I explain what it really means to know your numbers, using some colourful an...

This episode follows on from our previous one, where I explained what exactly write-offs are. Today, I give you a quick recap and then dive straight into which write-offs, AKA expenses, many business owners miss claiming. With the surge in remote working and recent changes with the ATO, home office expenses have become the talk of the town. But surprisingly, not everyone is aware that they can claim these. I talk about the costs associated with running your home office that you could pot...

Are you a little confused about which items you can legally claim as a write off? This week, I’m uncovering some of the nitty-gritty of business tax deductions, with a fun spin from our favourite Schitt’s Creek character, David Rose. If you need some help demystifying business expenses and tax deductions (particularly in the Australian context), then you're in the right place.So, what exactly is this thing called a write-off? Well, friends, it’s merely another name for a business expense or a...

In this episode, we will be discussing a topic that is often overlooked but crucial for the success of your business: bank accounts. Many business owners make the mistake of not having the right bank accounts in place, which can lead to confusion, mistakes and missed opportunities. So, let's dive into the world of bank accounts and explore what you need to know to set up the essentials.The first and most important rule when it comes to bank accounts for your business is to have a separat...

Today is Part 2 of my financial tips that I’m sharing to help creative entrepreneurs thrive in their businesses. Last week we explored some practical solutions to help mitigate the overwhelm that can come with numbers. We also tackled things like time audits, tracking expenses, focusing on the important metrics and how it can all impact profitability. So jump on over to that episode if you want some juicy tips on how to face your numbers with less dread and a lot more confidence! In...

I'm super excited about today's topic because I'm about to share some practical financial tips to help you thrive as a creative entrepreneur. I've worked with countless creatives who've had similar questions and challenges, and now I want to spill the beans and get you on board with these amazing tips and processes that have worked wonders for our one-on-one clients.We're splitting this topic into two parts because it’s so jam-packed full of tips and I don’t want to overload you! This is epis...

As we get ready to kick-start the new financial year, it’s a common time for business owners, myself included, to review what we’re doing and plan for the year ahead. Auditing our processes and streamlining them where possible is key in ensuring we reach our goals. Today, I’m talking about simplifying your business systems in the new financial year, and share some helpful tips on how you can create a smoother, more efficient workflow. Ever feel like your business procedures are over...

Welcome to my 50th episode! I’m so grateful to all of you for putting me in your ears every week and giving me the opportunity to share my short and snackable episodes about all of your bookkeeping matters. This brings me to today’s episode on which metrics you should be measuring in your business to achieve sustainable success. There are so many different metrics you can use to measure how your business is going, but which ones really matter?For example, frequently I see business owners tout...

As we come to the end of the financial year in Australia, it’s crucial for businesses to be across the various tasks involved when it comes to reporting their numbers. Today, we’ll be exploring the fundamentals of Single Touch Payroll, and why it is essential for business owners to understand how it works. In the past, group certificates or payment summaries provided a breakdown of income and were relied upon for determining taxable incomes and assessing tax deductions. However, the gove...

Are your stress levels starting to creep up as we approach 30th June?It’s so common to see small business owners starting to feel waves of stress and overwhelm when it comes to their bookkeeping as we approach the end of the financial year – especially if you have been DIYing your own books.If this is you, listen in to this episode where I give you my top tips for stressing less this end of financial year.It’s so important for you to plan and organise your numbers as we come into this super f...

Are you planning on registering for GST for the new financial year or already have and you’re wondering how to approach repricing your offers, products and services? It can feel daunting but don't worry, I've got you covered in this episode.We’re going to explore the strategies I tell my clients for repricing so that you have everything covered, your clients aren’t upset you’ve raised your prices, and your BAS is filed without any mistakes or owed money.I’ll take you through different approac...

Welcome back after a very short break! I’m thrilled to be back in your ears and bringing you more of what you asked for. From my Numbers List, you all let me know that you want to hear more about Ecommerce - which I absolutely love talking about! Now is the perfect time as we approach the start of a new financial year to analyse, evaluate and maybe start fresh with a new bookkeeper. E-commerce has evolved dramatically over the last couple of years with the introduction of so many di...

As we wrap up Season 2 of the podcast today, I’m extremely grateful as I look back over the first two seasons of the show, and thankful that you allowed me to pop into your ears each week. As I take a quick break from recording and go into planning mode for Season 3, I encourage you to keep charging forward in your business and find new ways to tap into that big growth energy. One theme that seems to have woven its way throughout this season is the importance of finding support as you le...

While social media can be a wonderful tool for marketing your business, it's important to recognise that it's only one piece of the puzzle. To create a comprehensive marketing strategy, it's important to consider a variety of channels and tactics, including email marketing, content marketing, and paid advertising.In today’s episode, I’m chatting with Marissa Batty, from The Savvy Studio. Marissa is an extremely talented content-creating queen and is the brains behind the words you see on my v...

Have you hit a rough patch and found yourself in the red? This is the episode to help get you back on track! We'll be going through practical tips to help you turn your finances around and get back on track.We’ll look at how to revive your small business finances by simplifying, focusing on increasing revenue through easy steps, understanding your financial situation, seeking professional help, and examining any potential funding resources you can investigate.Don’t overcomplicate it. Look aft...

As a business owner, increasing revenue is always a top priority. Whether you're just starting out or have been running your business for a while, finding effective strategies to boost your revenue is crucial for sustained success. In this short and snackable episode, we’ll explore five practical and actionable strategies that can help you increase your business revenue. From setting clear goals to leveraging customer loyalty, these strategies can make a significant impact on your bottom...

Is your business growing, but you’re unsure what you should be doing with your numbers? Don’t worry - this episode has your back. Let's talk budgeting for bookkeeping and how much you should invest at each stage of your business.In this jam-packed episode, I take you through each of the stages of a business - planning, launch, growth and scaling - and exactly how much money you can expect to invest.If you’re bootstrapping in the early, planning days of your business I outline the accounting s...

If you’re like many business owners who hear the acronym ‘SEO’ thrown around but you’d like to know more about what it is and why it’s so important, SEO specialist Karlie Plowman joins me today to answer your burning questions.Having just celebrated her 10th anniversary in business, Karlie Plowman is a small business website designer, SEO specialist and business mentor who knows her stuff. Karlie is particularly passionate about helping mothers and female led businesses by breaking down SEO i...

Managing your cash flow as a small business owner is essential to your business growth. Even if your business appears to be doing well with plenty of clients on your books, a steady influx of sales and money coming in, poor cash flow management can make it really hard to succeed in the long run.If cash flow is the reason your business isn’t growing, this episode will help you uncover some of the things you can do to get your growth on track. Cash flow can be a really complex and in-depth area...

Have you ever felt frustrated and overwhelmed when it comes to managing your business finances and cash flow? Maybe you're just not confident in your bookkeeping skills or you don't know where to start. Well, have no fear! In this episode, we're talking with Belinda Hindmarsh about how my online course, Bookkeeping Matters Blueprint (formerly known as Power In Numbers) can help you find the confidence you need to manage your own finances and keep your business running smoothly.Belinda Hindmar...

Keeping accurate records is essential for your business. Without proper records, businesses will find themselves facing problem after problem and can even lead to legal issues. In this episode, we'll dive into what can happen when you don't keep accurate records in your business.The first thing we’ll look at is how inaccurate bookkeeping records can lead to financial issues. When you're not keeping track of your income and expenses, it can be difficult to understand your business's cash flow....

As a small business owner, you know that keeping track of finances is absolutely essential for the success of your business and one of the best ways to ensure that your finances are in good hands is by hiring a bookkeeper. In this episode, I’m taking you through what you need to know when choosing and hiring a bookkeeper. Firstly, congratulations on making the decision to outsource and hire a bookkeeper! You’ll save so much time and energy in the long run and you’re making a very smart choice...

I’m really excited today to chat about one of my absolutely favourite non-numbers topics - mindset. Your mindset is crucial in how you take care of your finances, your business and your growth so I wanted to invite my dear friend Danni Vee to share her wealth of knowledge, experience and advice. Danni has worked with thousands of women through her roles in education, mentoring, and coaching, in addition to over 20 years as a driven entrepreneur. She began running her very first business from ...

We know that starting and running a small business is such a rewarding experience where every day is a new opportunity to learn and grow. But, there are often times we become confused with our figures and lost in our bank accounts, so I’m here to help you understand your profit and how to manage it correctly.Do you have profit strategies set up in your business? These are the systems, processes and actions you have in place to ensure you’re making a profit and keeping it. At Accounted For You...

Do you find yourself getting stumped by your finances? Or worried that you’re not planning for the future with confidence? This is a really important episode to help you look at your finances and see if you’re making some very common financial mistakes. I know it’s inevitable that we’ll make mistakes, especially when you’re new to running your own business and they’re often a great way to learn, but mistakes with your finances can end up costing you thousands.So today some of the common ...

Today I have the amazing Melissa Smith from Side Hustle Accounting with me to discuss all of the ins and outs of scaling your tax planning for your growing business. I've known and worked with Mel for years and her knowledge of the tax system is second to none because she's been an accountant for more than 20 years.Mel left a traditional tax accounting firm to run her own practice, Side Hustle Accounting, which she founded when she saw a real need for some accurate and quality advice on taxat...

I’m so excited to be bringing you this listener request sharing our absolute favourite productivity tools we use here at Accounted For You. I know there are endless programs and software out there for you to navigate and try to implement in your business so I want to let you in on the ones I find are especially helpful and productive and save us an enormous amount of time and admin work. I’ll take you through how we automate as much as possible in our client onboarding process, email manageme...

Today I’m talking with one of my favourite people in the world - Naomi Rohr from Avarcas Australia. Naomi was the very first client I ever had in my bookkeeping practice, Accounted For You and I’m absolutely thrilled to have her on today to discuss how she has built her eCommerce business to not just be profitable but to thrive. Naomi founded Avarcas Australia as a side hustle to sell beautiful, handmade, sandal-like shoes imported from Menorca in Spain. Her business grew so quickly into...

This season we’re focused on growth and levelling up, which is why this episode is all about what you need to know when you hire your first employee.The huge topic of payroll is something I love talking about, as it’s not a simple or straightforward process anymore. There is so much to do, and it’s a really important area to be all over.First up, we run through what you need to have in place before your new team member starts their new job. I run through the important documents and insurance ...

In this episode, we're chatting with the lovely Hayleigh Watson from Hali Helper about something that’s absolutely key to growing a business - getting out of our way and outsourcing.We frequently get stuck in the day-to-day doing and we end up being our own worst enemies when we’re trying to improve and grow.Hayleigh is the owner of her own Virtual Assistant (VA) Agency Hali Helper. Hali Helper looks after admin, social media, graphic design and loads more. I can personally say that Hayleigh ...

In today’s episode, we explore whether you’re wasting money on the wrong accounting software. I give you insight and tips to check if what you’re using is the right software for you.I know there are spreadsheet users out there, but to grow your business, accounting software is non-negotiable. My personal advice is to use software from the start.If you’re already on accounting software and feeling like it’s not the best one for you but you’re not sure what you should be looking for, this...

Have you considered coaching but have no idea where to start? Perhaps you’re not sure if it’s the right time, or you don’t know what you should look for in a coach.If you’re driven and passionate about your business but stuck in a place of unknown or overwhelm, this is the episode for you!My guest for this episode is Emma McQueen, a Melbourne-based Executive Leadership and Business Coach, who has worked in the realm of Human Resources for more than 20 years. Emma has worked with some of Austr...

You might have reached a point in your business where it’s time to think about a new business structure. If that’s you - amazing! What I run through today is what happens after you make this decision, so that you can avoid the common pitfalls that can come with this changeover. This knowledge will ensure you go through this big change the right way and can make a huge difference to your financial growth and profitability.First of all, I run through the all-important topic of withdrawing money...

You are in for a real treat today - we are talking all things business legals, truly non-negotiable in business. While getting your legal documents sorted can be a big investment, ultimately they not only save you money in the long run but can help you make money in your business.Joining us on the podcast today to go over some key pieces of the legal puzzle is my dear friend and own solicitor Tracey Mylecharane from TM Solicitor. Tracey has a unique approach to supporting you legally and is a...

This episode is about an unknown for many small business owners - what do you do when you’ve made a mistake on your BAS (Business Activity Statement)?This episode is super short and snackable because it’s a very quick and straightforward ‘what to do’. Even though it sounds like it might be a sticky situation to navigate it’s very straightforward and simple. There is absolutely no need to stress out.There are a million different reasons you may have made a mistake but fear not. I provide some ...

Welcome to a very special episode where I’m chatting with the wonderful Maddy Avery from Birdcage Marketing talking all things digital Marketing.I share how I’ve watched Maddy grow from a sole trader to an agency with more than ten employees so believe me when I say Maddy has done the hard yards. She has one of the biggest hearts I know and genuinely wants to help other small businesses use their marketing to grow their business that feels good and is aligned with their purpose.Why is Maddy i...

Woohoo! Welcome back to Season 2! In this season we’ll be talking all about matters relating to levelling up your business and finances in a way that works for you.Are you ready to outsource? We’ll be looking at so many ways and things you can outsource. Are you switching up your business structure? We’ll be covering that too.Not only will we talk next-level steps, but I also bring on my business friends and ask them some big questions to get you really thinking about things you could or shou...

Welcome to the last episode of Season 1 - it’s been an amazing journey with so much learning and fun. This first season was all about basic bookkeeping matters, giving you the information you need to set yourself up for success and profit in a short and sweet format.As a small business owner, it is your responsibility to know and be on top of certain things always, and your finances are one of those. If you’re just starting out on your business journey, these first episodes have been some of ...

This is a topic I love chatting about as it makes a huge difference to small businesses and their bank balances - profitability!Working with hundreds of clients across different industries and models over the years I have seen countless ways business owners work out their pricing, as well as the mistakes they’ve made along the way.I want to share my super simple pricing process with you, and some of the mistakes business owners commonly make, so you can avoid them.Pricing your products or ser...

Today’s episode is a super short and snackable one all about eInvoicing. Even if it doesn’t yet apply to you, it will eventually because you’re running a business.But what on earth is eInvoicing? eInvoicing is a government initiative in Australia which enables businesses to send and receive their invoices digitally, straight into their accounting software. No PDFs, no emails. Pretty cool hey?I take you through what you need to know about eInvoices, the framework that makes it possible and the...

Today we’re chatting about automating your invoicing, something that matters way more than you would think. If you have clients you raise invoices for and you’re doing it manually then listen up - it’s time to get automated!If you are using Word, Canva, or something that is not an invoicing or accounting program, you’re doing it the long, hard manual way. Or, even if you’re using accounting software but not automating your process, it could be so much simpler!It is so crucial to your small bu...

Today I’m going to chat to you about budgeting and how easy it is. Because I want you to get excited about budgeting, however that looks for you. My aim is to get you super comfy with budgeting and to know it’s not a dirty word that you can't use.What is a budget? Essentially it’s what you’re planning to earn and spend. It measures and guides you with your money. Overall, you should plan for your sales to exceed your expenses.Budgeting helps you work out a spending plan so that you’re not jus...

It’s such an exciting time when you’re first starting out a brand new venture. Amidst the excitement, there are a bunch of things to think about so I’m sharing some of the important first steps you need to take for your new small business. One of the key lessons I learned throughout my business journey is that you can do anything, but you can’t do everything. When first starting out, business owners don’t usually have the cash to invest in all the things they need from the get go. This i...

As you know, being a small business owner means you need to wear so many different hats. Today I’m going to talk to you about a few of the lesser known, or avoided, hats you need to keep on top of to make sure your business is every success you dream of.How often do you wear the hats of sales, legals, business planning and customer service?How well does your sales hat fit you? This is such an easy one to avoid. If that is you - maybe you don’t like selling to people! I share with you how I th...

Today I’m going to run you through some payroll mistakes with your employees that could land you in some really hot water if you don’t do them or if you get them wrong. Even if you don’t yet have employees, don’t skip this one because some of it might still apply, or it will make you aware of the mistakes before you make them.First up - you can’t do payroll manually. It must be in online software and you must report every payment via Single Touch Payroll (STP). We discuss how, even though thi...

A question I get asked a lot is - why aren’t I making any profit?Even with all the challenges of running your own small business, there are some really simple steps you can take to help boost your bottom line. It’s also important to keep in mind that this is not just about increasing your sales and making the same or less profit you already were. It’s about increasing and improving your profit, so that when your sales increase, your profit increases too.In this snackable episode I share some ...

Reports may sound boring but they are actually jam packed full of juicy details about your small business!In this short and sweet episode, I run you through the main reports you should be running as a business owner so you can be on top of your numbers. I also decipher the terminology the reports use, how frequently you should be running each one and what they will tell you.We run through the profit and loss report (also known as a P&L or income report), cash flow report (or cash summary)...

How do I know when to outsource my books?I know you’re going to love this episode as I get asked this question ALL the time.There are a number of things to consider when working out whether to outsource your bookkeeping or go it alone and DIY your books. Both have their pros and cons, which is why it can be difficult to decide what’s best for you and your business.If you’re doing your own books there is a lot to keep on top of to ensure your numbers are well looked after, accurate and up to d...

When running a business, it’s very important to have both a bookkeeper and an accountant on your financial team. I know that many think that if you have one you don’t need the other, or that they’re in fact the same role BUT I’m here to let you know why you need both. In this episode, I’m explaining the differences and similarities between bookkeepers and accountants and the reasons you need both of them in your business. A bookkeeper looks at tracking your financial transactions, recor...

Are you tired of wasting valuable time on bookkeeping with spreadsheets that are driving you up the wall? I see this all of the time and I'm here to help! Accounting software can automate so many of the tasks that you're spending too much energy on and save you from draining all of your focus that should be spent on your business. In this episode, I’m sharing 8 ways accounting software can save you time and money. Spreadsheets are awkward and inefficient when used for bookkeeping with n...

When running an online eCommerce store, you have to handle a different set of bookkeeping challenges compared to traditional accounting, so I’m here today to make it clear and easier for you to sort everything out. In this episode, I’m sharing the eCommerce accounting challenges that you’ll come across as a business owner running your business online. I share the common mistakes I see when eCommerce small businesses are DIYing their books to help you avoid wasting time and energy fixing every...

Today is devoted to a very important bookkeeping matter - preparing, reviewing and lodging a BAS! This information is critical because you don’t want to overpay GST or miss claiming any expenses. There is a lot to remember and checks to go through, but once you’ve got your head around them and you understand the process, the lodging will be a breeze. In this episode, I’m going to explore how to prepare, review and lodge a BAS, along with all of the tasks that must be completed before you subm...

I'm always asked about this week’s topic: Do my (tax) invoices say the right things? In our business, we see hundreds of invoices travel across our desk every single week so we have seen everything when it comes to formatting an invoice. We always take the time to make sure all of our client’s invoices are spot on to enable the receiver to claim it with the ATO effortlessly. In this episode, I’m discussing all of the important aspects of a tax invoice that you have to include to make sure you...

Everyone makes mistakes but if we reframe them, we can make them into fantastic opportunities to learn, change and grow. In this episode, I’m sharing 5 mistakes all new business owners make. Write these down so you don’t make them yourself or flip them around so you can change things up and do it the right way. We’ll address bank accounts, tax, business insurance, pricing, outsourcing and more. You’ll protect and continue to grow if you learn from these common mistakes and take the time right...

The end of the financial year is only a few weeks away!Can you feel the panic setting in? In this episode, I’m sharing my top tips to keep your EOFY as smooth as possible. We’ll go through each one in detail so you can apply it to your business to start to feel your stress melt away. Start with your tax planning and if you haven’t already, reach out to your tax agent to book in for a tax review. They will go through all of your income, expenses and deductions to work out what income...

Welcome to the very first episode of Your Bookkeeping MattersTogether we’ll be looking at lots of business and bookkeeping matters, to look after your numbers and better manage your business. In this episode, I’m exploring what a bookkeeper actually does and why someone has to do it in every business. I’ll run you through the role a bookkeeper plays and what they DON’T do so you have the full picture of what they provide. Bookkeeping has grown along with the needs of businesses. Th...

Is the concept of GST overwhelming you? You’ve heard that you should register for GST at some point, but when? In this episode, I’m diving into what GST even is and when you should register for it. I’ll talk about the types of transactions that are GST free, the benchmark and timeframe for registering for GST, deciding on the method of registration (cash or accrual) and how to absorb it into your pricing. Goods and Services Tax (GST) is a 10% tax and is designed to be paid by t...

Welcome to Your Bookkeeping Matters, a no fluff, short and sweet podcast about all things bookkeeping with your host, Lisa Turner. As the head number cruncher of my bookkeeping practice, Accounted For You, my passion is to help other women in business flourish with bespoke bookkeeping. There is so much more to bookkeeping than processing expenses and bank transactions!In this podcast, I’ll be sharing all the things you need to know and why you need to know it. With a degree in accounting...