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Up0JamesMillar, post: 268533, member: 5318 wrote:Something very odd that I’ve noticed here in the last year or so.
There seem to be lots of tax and accounting questions being posed – some simple and some quite detailed. The simple ones are obviously exactly that – simple (and therefore simple enough to provide feedback on. Even by some non accountant members). The more detailed questions have a range of issues which really cannot and should not be addressed on an internet forum.
Lots of members here (including myself) have politely suggested that forums are not the best place to seek detailed professional tax advice or strategy. Its normally been accompanied by the suggestion that the poster will likely also need to pay the adviser for the advice. The retort has almost always been one of the following;
1. My accountant is currently on holidays so I thought I would try the forum for an answer (this is my favorite)
2. I am arranging a meeting with my accountant next week and wanted to prepare for it.
3. My accountant provided some advice and it made no sense so I am clarifying on a forum.
So in almost all cases the poster already has what they seem to think is a professional accountant tax adviser – they just don’t happen to have received a solution from them so they head to the forum.
Is there something wrong with this equation? These small businesses seem to have an invisible accountant. Do these accountants actually exist at all?
As an accountant and bookkeeper I think the main problem is that people don’t want to pay for advice these days. They think that the answer to any question can either be googled or asked in a forum like this for free.
Most small businesses loathe the thought of paying an accountant for advice and would rather rely on free advice from strangers or ‘friend advice’ because they don’t seem to see the value in it anymore sadly.
I’ve seen so many people, when asked whether they have spoken to an accountant or not, respond with ‘I can’t afford it’ or ‘They’re too expensive’ even though the financial gain to them that would eventually come from that advice would greatly outweigh the cost.Up0Is there a reason why you don’t want to upgrade to MYOB AccountRight which will cover you for STP as it is the online version and still do everything you are used to with the Sales Orders, Inventory, etc?
Otherwise you could possibly look at Quickbooks Online as another alternative. You can issue quotes in QBO similar to the sales orders in MYOB and make payments against them by issuing progress invoices for the deposits and not completing the full Invoice until the jobs are finished. You could then print a list of your open quotes each day as your ‘to-do’ list. Their inventory management is pretty good as well and they also have a ‘Projects’ function that might be a better option than the one in Xero.
Their payroll is also pretty good and is STP compliant.Up0Bluechips1967, post: 267150, member: 115803 wrote:Hi all,I’m having difficulty understanding how to charge for non GST labour on a Tax Invoice as a GST registered business. I’ve trawled ATO and don’t understand.
Example:
A contractor provides an invoice (not a Tax Invoice) for $600, as he is not registered for GST.A Tax invoice is raised for
Materials: $100 inc. GST
Labour: $500 inc. GST
Contractor Labour: $600Am I required to charge GST on this amount on a Tax Invoice?
Thanks for your input
Yes, if you are registered for GST then you need to add GST onto whatever you are charging in your Tax Invoices regardless of whether you had to pay GST on it yourself.
I hope this helps.
Up0I love the word ‘ominous’ and I try to add it into conversations just for the fun of it.
It’s just a great word to say!
Up0Do you need payroll or to record creditor invoices? These are two big things you will be unable to do in the Basics program.
Did you buy it outright or get a monthly subscription for online software? If you contact them you might be able to upgrade without too much trouble if you find that you need to.Up0SecElec, post: 193411 wrote:I was recommended this book by a very successful & happy businesswoman who has a Yoga & Health Centre at North Sydney
(I did the original electrical fit out for her many years ago now & she’s still there)The E-Myth Revisited by Michael E Gerber.
This is a great book for creating and refining a system for your business that can then be replicated and repeated to expand (the McDonalds model)
Instead of relying on your employees to figure out the intricacies of their different roles, you work everything out as the business owner and create / refine a separate manual for each employee role that looks at any scenario the person may face in that role and how to handle it. You can then hand a well thought through manual to anyone starting in any role in your business, making your business more robust as you don’t have to rely on any particular employee and you can also replicate that hopefully successful system in another business franchise or a second store etc…
This would be a great inspiration to someone who is thinking big!
I’ve heard of this book in so many different places that I think I really have to look into reading it. All businesses should have good solid systems in place and this book is apparently great at advising you how to go about setting them up.
By the way I just love this thread! I’ve now got a huge list of reading material to try and check out when I ever get the time.Up0I would try and avoid going overseas for help if you can. It may be cheaper but you’ll end up paying for it in the long run with the communication barriers that can develop. Someone who is local to you will have better availability and be able to sit down with you and go over exactly what help you need to get on track.
I’m kind of going through the same thing with my business at the moment and have taken the leap of hiring a casual which has taken a huge load off my mind.
Good luck!Up0Is the SBNG still going? I’ve tried looking at their website and none of the pages seem to load.
I can’t seem to find any other info about them either.
I’m interested in any other small business network meetings that are run on the Central Coast as well.Thanks,
Up0I’ve found that letting your current clients know you have the capacity to take on new work is a good way to get referrals from them.
I’ve also just started doing some local letterbox drops as a way to get some exercise, walk the dog and get my business name out there!Regards,
Michelle
http://www.beaglebookkeeping.com.au
