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Making Business Books and Accounting Come Alive! MYOB Reckon Quickbooks Training BAS Small Business


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Business Tip – What Dyson learnt, about how customers can help you run a better business

Business Tip – What Dyson learnt, about how customers can help you run a better business

What Dyson learnt, about how customers can help you run a better business

Bri Williams writes - When James Dyson was pitching his new vacuum cleaner with its revolutionary clear plastic container, retailers warned him off, telling him that no one wants to see dirt. This was confirmed in market testing when consumers baulked at the notion of seeing their own filth but despite this Dyson famously persevered.

According to Forbes his company made $2 billion in revenue this year and his personal wealth is estimated at $4.4 billion. Apparently lots of people want to see dirt after all.

I thought of Dyson last week when I was on a panel at a retail accounting forum. There was much talk in the session prior about customer data and the importance of asking the customer what they want. But as Dyson (and others like Apple) have shown, the dirty little secret of customer insights is that often customers don’t know what they want and their past data can’t predict reaction to a new concept.

Given these two challenges, where can we turn as business people to get a sense of what customers are likely to do in the future without asking them?

Behavioural Economics

As I wrote in a previous article (Why you should ignore what customers say they want”), behavioural economics is the closest thing we have to forecasting behaviour. It is the study of how decision-making behaviour is influenced by a person’s social, cognitive and emotional context, based on observed rather than self-reported responses. In other words, “what we do when…”

So as I stated on the panel, and my central message to you as a business is to worry less about what customers tell you and more about how what they do changes in response to the context (your shop, office, website, offer, ad) you create for them.

To see a diagram of Bri’s model of using customer insights, go HERE to Smart Company

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – no-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – there’s 18 that the Tax Office see regularly – get them right! Email info@accountkeepingplus.com.au or call 0407 361 596 Australia


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Cashflow Tips – Improve Cashflow – Invoice Promptly!

 

Cashflow Tips – Improve Cashflow – Invoice Promptly!

Improve Cashflow – Invoice Promptly!

Often, small business owners are uncomfortable about asking to be paid, yet the top way to improve cashflow is to invoice PROMPTLY! If you run a business, (especially service businesses) and you don’t invoice promptly as well as collect payment promptly (which cause cash crisis in the first place), then consider the following –

Consequences for your cashflow:

  1. Clients can quickly forget what they owe you.
  2. They are less likely to remember how much they loved your work and pay you promptly.
  3. They may conclude that you do not expect quick payment and will take their time in sending in their money.

Some ACTION solutions:

  1. Where possible, issue invoices at the time services are delivered.
  2. Send your invoice by email to speed the process.
  3. If you can’t issue immediately, be sure to issue your invoices weekly, or at least twice per month on designated days, such as on the 15th and the last day of each month.
  4. Do it like clockwork – it will help to even out your cashflow.

Take-away message -

Create the habit - invoice quickly and often.

Need help? Not sure? Call for FREE 30min advice / Strategy session today!

Call 0407 361 596 Aust and also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!


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Reckon/Quickbooks – A way to track part-payments of BAS due and what is owed to ATO!

Reckon/Quickbooks – A way to track part-payments of BAS due and what is owed to ATO!

Reckon/Quickbooks – A way to track part-payments of BAS due and what is owed to ATO!

Many clients pay their BAS amounts in instalments instead of the full BAS so only part amounts go to the Tax Office.

I have got into a habit of having an ATO Liability account separate from the GST accounts (there are 2 GST accounts in MYOB {Collected and Paid} but only one by default {all tog} in Reckon/Quickbooks – although there are sometimes 2 if the accounts person has set them up!).

That is why I have refunds and deposits go to ATO Liability as a clearing account.

In a couple of Stewart’s entities I have a memorised transaction General Journal called “BAS form due” to enter the actual Statement detail and balance it back to ATO Liability, because when we are entering from the bank stmt, we don’t often have the BAS info that is on the form, so it is easier to enter the transaction to ATO Liability and later balance it back to the actual BAS due – like a clearing account.

Often I need to enter some BAS statement amounts to clear out the ATO Liability accounts for the year/period – I still often need to do some final tidy-up before giving books to the accountant!

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – No-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia


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Business Tax Tips – How to manage tax, small business obligations and bookkeeping

Business Tax Tips – How to manage tax, small business obligations and bookkeeping

Business Tax Tips – How to manage tax, small business obligations and bookkeeping

1. Get help from ATO to reduce your tax debt

The top tax tip the ATO gives, is if you’re in a tight spot and/or worried about a tax debt, let them know. They will work with you to figure out a solution together, and I have many relieved clients who I have encouraged to call The ATO and found them to be very helpful indeed!. Call them on 13 28 66 between 8am and 6pm weekdays, and you can download the new ATO app about ways they can help. Here is some info on Managing your Cashflow, a 1 minute video for tips on Managing your tax debt, and watch the recent webcast with David Koch, talking to the ATO and successful small businesses about ways that can help you manage your cash flow and reduce debt.

2. Have a business health check

Regularly check that your systems and records are in order to avoid mistakes on your BAS. If you still keep paper records, the ATO suggests that you consider leaving paper behind and shift to electronic records. There is also the ATO’s business viability assessment tool to help assess the financial performance of your business. We also provide a health-check analysis for clients, or one-off with actions points based on WHERE changes are required – call us for a FREE discussion.

3. Get the GST right

Remember to think ahead – when your business’s current or projected GST turnover is $75,000 or more for any 12-month period, you must register for GST within 21 days. The ATO also recommends that you put aside the GST you collect separate from your business account, and remember you have to keep your receipts for five years. Here is a 1 minute video for tips on Getting your GST right.

4. Keep up to date with changes in Super

At times there are some changes to super, including the recent introduction of a new data and e-commerce standard that will let you send super contributions to all funds in one electronic format. The ATO advises that businesses with 20 or more employees have until 1 July 2014 to adopt the standard and businesses with 19 or fewer employees have until 1 July 2015. Keep up to date with all things super via the Small business assist tool (at http://www.sba.ato.gov.au)

5. Try Small business assist tool

During 2013, the ATO released the Small business assist, an online service which provides easy access to information for both new and established businesses. You simply type in a question and it provides tailored information from a range of websites. If you’re looking for tax information, give it a go (at www.sba.ato.gov.au )

And one more reminder, don’t be afraid of the ATO! They are very helpful!

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – No-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right! Email info@accountkeepingplus.com.au or call 0407 361 596 Australia


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MYOB – Tidy up for Professional Statements and Invoices

If you have the text “Printed from MYOB www.myob.com.au at the bottom of your statements and invoices, then it is a simple matter to remove them. And while you are at it, learn how to improve their look by moving the boxes that have text and data to align to window envelopes and look more appealing overall.

HOW - In MYOB Account Right go to the Sales Command Centre or from the top Menu > Set up > Customise Forms and choose which group you want to do, eg Statements (You can also customise Purchase Orders and Payslips if you have Payroll the same way as below). Select the form in the group you want to customise in the Form to Customise field and click Customise. The Customise [...] window appears.

Remove the “Printed from MYOB…” by clicking the text and the box will be highlighted (scroll to the bottom of the screen to see the words). Hit the keyboard Delete button. It should disappear.

Other parts –  To see a video of customizing, go to http://myobaustralia.custhelp.com/app/answers/detail/a_id/33536/~/customising-forms-in-the-new-accountright.

Note: This post relates to the latest AccountRight range of products (2011 and later). For “Classic” AccountRight versions, such as AccountRight v19, as well as MYOB Accounting, Accounting Plus, and Premier, see our support note Customising forms. Our support note Customising forms in earlier versions relates to earlier MYOB versions, including BusinessBasics. BusinessBasics users can also find information on customising forms in their BusinessBasics user guide. Our support note Customising forms in AccountEdge covers form customisation for AccountEdge software.

Upgraded from AccountRight v19 or earlier?  You can easily migrate your customised forms into the new AccountRight.

You can customise the look and content of most forms in AccountRight. You can also change the form size, add text labels, draw lines and boxes, insert graphics, move fields, and more. Then you can save your customised stationery so that you can select it when you send a form.

About the Customise window -

MYOB – Tidy up for Professional Statements and Invoices

Note: Cheques have two parts  A cheque form has two parts: the cheque itself and the stub. You customise the cheque and the stub separately. For more information, see Customising cheques.

Need help? Not sure? Call for FREE 30min advice / strategy session today!

Call 0407 361 596 Aust and also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia


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Business Tips – Tips to create a Content Strategy to Stand Out

 

Business Tips – Tips to create a Content Strategy to Stand Out

Tips to create a Content Strategy to Stand Out

One of the biggest challenges for SMEs in thinking about their content strategy is the sheer volume of available content channels. Between personal blogs, traditional media outlets and social media channels, it’s becoming increasingly hard for brands to create a signal that breaks through the marketing noise.

Here are five tips for SMEs in developing a content strategy that stands out from the crowd:

  1. Have a Compelling Roadmap

55% of marketers surveyed by HubSpot didn’t have a content strategy even though they were currently creating content. Would you set out for a new destination without a map? Didn’t think so. A content strategy that aligns with your business metrics and your core goals is imperative. Identify what you will do, how you plan to do it, and what needs to be true to define success: creating content just for the sake of doing so doesn’t help your business or your customers.

  1. Develop Personas

Businesses often say they know their core customer, but do you really? Your content strategy should consider who your target customer personas are, how and when they consume content, and what they are looking for from your brand.

For example, let’s say you’re a car company and your typical buyers consist of busy working parents and young college graduates purchasing their first vehicle. You not only need different messaging for each audience; you also need different mediums.

For example, you might create a buyer’s guide to safe vehicles for working parents and pitch it to a parenting blog, while visual content placed on Twitter is more likely to resonate with a young buyer.

Having a true and deep understanding of your target will help you create and deliver content they truly value, so invest time in understanding your personas and what content most interests them.

  1. Google It

Invest some time searching for potential content ideas online. What types of content come up? What gets shared most on social? There may be 100 blog posts on choosing the right life insurance but not a single Vine video breaking down what you need to know, so get at least a cursory understanding of what’s out there and identify the gaps. Build a content strategy that targets those gaps, and Google will reward you for not just piling on to what others have already created.

  1. Be Remarkable

Great content doesn’t just exist; it delivers on a promise. Your audience wants to be entertained, educated, or inspired, so don’t put them to sleep. Think about how you make your content digestible, easy to find, and highly shareable, and invest your time accordingly. Before you hit send or publish, consider whether your prospects will legitimately be excited to get your email or eBook. If not, edit away until you get there.

  1. Measure It

Content without metrics won’t stick around very long at your business, so identify the metrics that matter and always be testing, learning and applying based on what works and what doesn’t.

Set realistic expectations but also demonstrate a willingness to truly try new things if what you are doing isn’t working. Far too many marketers skip measuring when it comes to content. However, that data not only helps make the case for content, it also ensures that you’re adapting your content based on actual impact, not just what you think is working best for your brand.

The proliferation of content is a great thing for brands which think like publishers, and creating a remarkable content strategy and mapping it to your buyer needs is a fundamental tenet of how we foster inbound marketing globally. However, without a clear roadmap, measurable goals, personas and a commitment to being remarkable, you’ll be left sharing stories with an empty room.

Written by Jet Methane – the managing director of HubSpot International

Source - http://www.smartcompany.com.au/technology/online/42182-five-tips-for-creating-a-content-strategy-that-stands-out-in-a-crowd.html

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – No-one offers as much!

Call and you also get Free “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia


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Reckon/Quickbooks – How to NOT print a whole lot of invoices in print queue

Reckon/Quickbooks – How to NOT print a whole lot of invoices in print queue

How to NOT print a whole lot of invoices in print queue

A client called and told meWe had ticked in our invoices to be printed and never did the printing. Now when I go to print a batch all these non-printed invoices are highlighted. There are about 400 so it does take some time to retrieve them. Is there any way I can delete this instruction without bringing each note up and deleting the instruction?

A good solution – Choose a PDF printer to create a file – it may need some time to be left to run.

And sometimes using the Reckon PDF creator may not take them off and they re-appear next time, so try using Cute PDF (download FREE here http://www.cutepdf.com/Products/CutePDF/writer.asp ) or another PDF software.

Need help? Not sure? Call for FREE 30min advice / strategy session today! 0407 361 596 Aust

***BEFORE you BUY – Ask us for a competitive software price BELOW retail – No obligation!

You also get FREE 30 min to assist in setting up your company in the software, and FREE ongoing email or phone support – No-one offers as much!

Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia

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