Staff and Job management Add-ons for Xero

This month we will be looking at two Xero addons to help you manage staff and track your jobs. Below are the features of each add-on. Xero Projects Add-on allows you to manage all your jobs/projects on the go. $10 per user/ month; You can allocate task time estimates and budget costs to each job so you can monitor and … Read More

Trust Income Distribution – Year end planning

It’s nearing that time of year again and we would like to remind you that if you have a family trust, please make sure all income distribution decisions and resolutions are done by 30 June 2018 to ensure that it is compliant with the trust rules.  We would also like to draw your attention to key trust issues that have … Read More

Single Touch Payroll comes in on 1 July!

As mentioned in past editions of S & W Insight, single touch payroll comes in on 1 July. Are you ready for it?  Employers with more than 20 employees will be required to provide real time reports to the ATO of all employee related payments (ie salary and wages, SGC contributions, ordinary time earnings of employees and PAYG withholding amounts).  … Read More

Year end Tax Planning – make sure you don’t miss the boat!

It is that time of year again and you should be proactive in planning for the year end to make sure you do everything you legally can to make sure you don’t pay any more tax than you absolutely have to. In the June addition of the S & W Insight we usually go through all the things that you … Read More

Superannuation Guarantee Contributions Amnesty

If you’ve fallen behind in making superannuation contributions for your employees, help may be on the way. On 24 May, the government announced a one-off, twelve month amnesty for historical underpayment of superannuation guarantee without penalty. Once the legislation is passed, employers will have until 23 May 2019 to voluntarily disclose outstanding superannuation guarantee shortfalls. To access the amnesty, you … Read More

What was in the budget that relates to your Superannuation Fund?

Government delivers SMSF friendly 2018-19 Federal Budget An SMSF friendly budget is the good news coming out of the 2018-19 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes which took effect from 1 July 2017, this Federal Budget will provide much needed stability while looking to reduce costs for SMSFs and prove additional flexibility. … Read More

Federal Budget 2018

As accountants, the team at S & W normally get excited at federal budget time. There are normally all kinds of changes that we speculate on in the weeks leading up to the budget, and we love to dissect them in the days after.  This year was different – even we found it boring. You’ve all read about the tax … Read More

Xero – What it can do in relation to Online Payment!

If you are currently using Xero and you are not using the online payment system then you will not be using the software to its fullest potential. The online payment system helps you save time and makes collecting money faster. The more options you offer the customers, the less time you will spend chasing them for payment. Adding a compatible … Read More

Why is it important to have business forecasts?

Financial forecasts assist in managing your business finances. They are future predictions of your business finances, as compared to historical financial statements (which only provide details of actual results of progress which are often 12 months old). Without forecasts there is no way you can foresee profit or cashflow problems on the horizon.  Here are 5 simple ways that forecasting … Read More