Bookkeeping Blog
Advice and tips for Australian Businesses
Are you part of the Construction Industry, here are some helpful bookkeeping tips for you.
How I love working for my clients in the construction industry.
The Construction industry have the unique experience of working with a range of employees, partners, outside contractors, businesses and individuals and all have various payment schemes.
Working within this industry, books can quickly become complex, hence why this industry in particular, should consider outsourcing to a Bookkeeper.
There are many different facets from reporting on incomings, outgoings, tax, super and benefits.
Construction accounting is very different is project driven. Construction workers are contractors who operate their own business around projects and these can be scattered on different sites and locations. Then you need to look at the different sites to consider the wage differences, equipment and transportation costs, the length of contracts can vary, orders and plans can change quickly and these changes need to be tracked diligently. You also need to look at the changes in the construction scope, design, site conditions, project schedule to make sure you don’t break the budget.
If you are struggling and work in this industry and losing track of your finances, then please give me a call. I have many years’ experience in this area.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring. When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!
What will happen in 2021 when it comes to Bookkeeping?
Like anyone here, I don’t have a crystal ball, I wish I did.
But after what has been a turbulent year for so many in 2020, I think the Government will be assisting businesses, both large and small during 2021.
We must get the economy going and with multiple Grants on offer and assistance through construction, building, low interest rates, Job keeper payments, Job Seeker payments and now Job Maker, I feel that we are heading in the right direction.
One thing I would like to mention is to make sure that when it comes to Bookkeeping, if you decide to do it all yourself, is to keep yourself updated with all the changes and keep your records up to date and accurate.
Of course, I would rather you come to me, because I feel 2021 will be a year of many changes in our industry and across the board.
With that, comes challenges.
Let me know if I can help you in any way as I look forward to looking after you and your business.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring. When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!
It’s now December 2020 and Christmas is here, are you claiming all your business expenses?
Probably the last thing you would be thinking about is claiming your business expenses at this time of year. But only another 6 months’ time is EOFY, so we are mid-way and it’s a great time for businesses to go through what you are claiming as a business expense.
The ATO has found that ‘around 90% of small businesses are using a registered bookkeeper/tax professional to help them with their income tax obligations. That is music to my ears as it is important for Bookkeepers like myself to make sure businesses get their tax right.
Come time to do your tax return, are you claiming all of your business expenses?
Those businesses that keep good records and invest in a good bookkeeper will be less stressed when it comes to tax time in 6 months’ time.
Enlist a professional like myself to hep you with your books and uncover more to claim as businesses expenses.
Most people know that general office stationery, cost of renting your office or business space are some common expenses that can be deducted. But here are a few more that you may not know
– Cost of running your website, including maintenance, updates, service provider fees
– Marketing and promotional activities
– Tender fees, bet you didn’t know that, (even though that didn’t have a successful outcome)
– PR related expenses
– Parking related fees
Just to name a few.
Then if you operate and run a car for your business, you are also entitled to receive deductions.
If your business operates under a company or a trust there are additional motor vehicle claims as well.
But a few you can claim ie
– Registration
– Oil & Fuel
– Depreciation
– Interest on motor vehicle loans
Then there is repairs an maintenance on business machinery, tools, travel expenses for meals, parking, road tolls, fuel etc the list goes on and if you operate from home like many are now doing since COVID, you have home office cleaning expenses, percentage of phone and internet, stationery, home office equipment.
Give me a call, let me help you, so in six months’ time you won’t be stressed.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring. When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!
