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Every quarter of each financial year, your business must meet certain reporting obligations set by the Australian Taxation Office (ATO). These include Business Activity Statements (BAS) and Pay as you go (PAYG) withholding. While some businesses may meet these obligations on a monthly or annual basis, most businesses lodge their reports and payments every 3 months. [...]
What are Modern Awards and why do reviews matter? Modern Awards are in place to ensure employers and employees are following the legal requirements and conditions of employment, including employee entitlements. The Modern Awards came into effect in January 2010 and cover over 100 industries across Australia. One of the Modern Awards is the Hospitality Industry [...]
You may be wondering why your bookkeeper wants you to keep all the little business receipts or tax invoices from every single thing that you buy. No, we aren't trying to annoy you. We want to: Get your business numbers to be the best reflection of how it's performing (accurate numbers = better business decisions) Make [...]
Stocktake is an exciting activity for restaurant and cafe owners - said no one ever. Inventory management can be a daunting task but it has to be done. Even if it’s not on your list of favourite things to do, it has to be done right. Proper inventory affects a restaurant’s ability to serve high-quality and [...]
It’s a controversial topic every time a public holiday rolls around. Should cafes and restaurants charge a holiday surcharge? Many customers think not and complaints are often levelled at businesses who implement a public holiday surcharge. However, charging a surcharge on Sundays and public holidays is common practice in the food industry. Owners point out that [...]
Steve Baxter is a well-known investor on television show Shark Tank, and international entrepreneur. Based in Brisbane, he looks for business opportunities for fun and profit. Steve is the current Queensland Chief Entrepreneur, advising to the Queensland Government on building and promoting the importance and contribution of entrepreneurship and investment in Queensland. There are no excuses [...]
An efficient bookkeeping system with integrated security measures is essential to run a successful restaurant. We understand that food business owners like you are busy, so our specialist bookkeepers have created this simple step-by-step guide to setting up a streamlined bookkeeping system. We also have lists of cloud-based solutions highly recommended by industry experts for you! [...]
Running your own restaurant is challenging — but deeply rewarding. To help your food business survive and thrive, we’ll discuss the 5 most common mistakes in restaurant bookkeeping and how to avoid them. Read on to learn more about the importance of organised bookkeeping and how it can help you make informed business decisions in your [...]
The 2018-19 Federal Budget has extended the $20,000 instant asset write-off scheme up to 1 July 2019. This enables small business owners with an annual turnover of less than $10 million to deduct the business portion of eligible assets costing less than $20,000. This is great news, especially if you run a restaurant or cafe. Through [...]
Scams cost Australians millions of dollars per year. Aside from consumers, scammers also target businesses like restaurants and cafes. They take advantage of busy times to deceive owners and employees. If you don’t have security measures in your business, you might unknowingly pay money to scammers who pretend to be vendors, sellers — even government agents [...]
