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The Jobmaker Plan

Have you seen the Jobmaker Plan the Government has put together to create jobs and help the recovery of the Economy?

If not, click the link here to read more https://budget.gov.au/2020-21/content/jobmaker.htm

What the Government has put forward is a $74 billion Jobmaker plan to support economic recovery and get Australians back to work and on their feet.

Some of the core elements they are putting together are:

–       Infrastructure, the Government has invested an additional $14 billion in new and accelerated infrastructure projects across Australia over the next 4 years

–       Jobmaker Hiring Credit – $4 billion providing businesses with an incentive to take on additional employees aged between 16 and 35.

–       Energy technologies – The Government is investing $1.9 billion in new energy technologies which will reduce emissions.

  • Reducing red tape for businesses – The Government is incorporating a insolvency system to keep businesses in business and make it easier for consumers and small businesses to obtain credit.
  • Digital Business Plan – The Government is accelerating digital transformation by increasing productivity and job growth; therefore, their goal is a leading digital economy by 2030.

It will be interesting to see over the next 4 years how this Jobmaker plan will unfold and we hope that we all come out of this a stronger and economically sound country.

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!!

The most common accounting errors all small businesses should avoid.

What do you think Number 1 would be, can I hear you….yes, your right?
BAD BUDGETING.

Bad budgeting might sound cliché but budgeting can make or break any business. A budget needs to give you a clear idea of how your business is tracking, whether you are breaking even or making a profit.

The next one is UNDERSTAND THE DIFFERENCE BETWEEN EMPLOYEES AND CONTRACTORS.

Hiring staff can sound exciting, when you tell your friends and family, I’m hiring staff because my business is going well. There are many pro’s and cons to both. Hiring an employee or a contractor has massive differences in terms of insurance, payroll tax, legalities and when it comes to staff who are actually employed by you, then you need to review if you need this help temporarily or on a long-term basis. Remember contractors are businesses themselves, they invoice you for the hours spent on the agree job.

The next one is NO ORGANISATION OR PAPERWORK.
It is so important to make sure your paperwork is in order, especially when it comes to tax time. Have a checklist of tasks to complete and keep your paperwork organised, legally you might hold files either digitally or physical for seven years in Australia

Oh, this one I see way to often MIXING PERSONAL FINANCES WITH BUSINESS

Many businesses say they don’t have a separate bank account for their business and that is a risky situation. Mixing up financial accounts for their business is difficult when you are trying to sort out your personal expenses (which are not tax deductible). Unless you are a sole trader, opening up a separate business account and not mixing business and personal expenses is a good idea, though I do suggest sole traders to separate the two as well.

The last one is NOT HIRING A BOOKKEEPER OR ONE AT ALL.

Many small businesses think that it will cost the earth to outsource, but there are so many benefits to outsourcing help, from saving time doing the books, hiring someone that knows the ins and outs of business finance, they will get to know your business and help you achieve your goals and address any weak areas in your budgeting or cash flow. They will keep you organised and your documentation will be correct and in order. Lastly, they take away the stress out of money management.

If this resonates with you, give me a call on 0429 363 047.

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!!

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!!

The worst bookkeeping mistakes that most business owners don’t realise

There are a number of mistakes business owners don’t even realise they are doing and in my years of bookkeeping experience, I have seen so many.

  1. Not setting up your chart of accounts
    If you are doing your bookkeeping yourself, try not to use what the bookkeeping software provides as it may not be relevant. It’s beneficial to build your own and also make sure your GST codes are correct.
  2. Setting up your Petty Cash account in Assets
    If you have an office petty cash tin, it is not an asset. So, don’t setup an account for it.
  3. Not setting up payroll correctly
    Oh, boy have I seen some doozies in my time. It is extremely important that payroll and employees have been setup correctly. Include the employees DOB, TF and ensure their penalty rates are correct and also don’t forget that your linked accounts are correct, which includes tax, superannuation etc.
  4. Reconciling incorrectly
    This includes all bank and credit card reconciliation, BAS reconciliation and payment summaries and superannuation.
  5. Assets or liabilities as expenses
    By now you should know the difference between the two, but many business owners don’t. I can definitely help you and explain the difference.

It sounds simple, but why would you do this yourself, when you can outsource this to me.
Call me anytime on 0429 363 047.

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 Happens If You Overclaim on Tax?

It is always in your best interest to deduct the maximum amount your entitled, but deliberate attempts to overclaim can definitely attract harsh penalties from the ATO.

Up to 75% of the claim.

The ATO are cracking down on work-related expenses and rental claims as more and more people are working from home.

More people are overclaiming rental expenses, claims for cars, travel, internet and mobile phones.

Records should be kept for the following and remember by tax law you need to keep your tax receipts for 5 years.

These are the following plus always good to keep a electronic copy as paper receipts do tend to fade.

  • sales receipts
  • expense invoices
  • credit card statements
  • bank statements
  • employee records (wages, super, tax declarations, contracts)
  • vehicle records
  • lists of debtors and creditors
  • asset purchases.

Don’t overclaim on tax and if you are stuck what you can and cannot claim, please contact me direct on 0429 363 047.

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!!

The NSW Government hands down the 2020-21 Budget

I have to applaud the NSW Government during COVID-19, this year has been tough for so many both personally and professionally.

Recently the NSW Government announced it’s $1 billion Working for NSW Fund, which will help sustain businesses and create much needed cash flow and help businesses retain employees across government and non-government businesses.

They also announced that over $6 billion, that’s right $6 billion dollars will go towards waiving or deferring taxes, levies and fees, which includes payroll tax and licensing and registration fees to support businesses.

Due to the impact of COVID-19 on certain industries in NSW, the Government announced assistance for the following

$50million for arts rescue and restart, $27.3 million for sports and $11.6 million to support the taxi industry.

That is an incredible amount of money and the Government has advised the will also extend funding of $39.3 million for the Business Connect Program, which assist businesses in need of advice with those facing the multitude of challenges of COVID-19.

Let’s face it, the NSW Government are trying to serve and support local and small business, because as we know, we are the backbone of the country. If you didn’t have the local and small business, NSW / Australia wouldn’t function, pure and simple.

I support the NSW Government as they hand down the budget and we all know the future is uncertain, but this will definitely help many for a more positive 2021.

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!!

Do you know the differences of a Sole Trader and a Small Company

Business structure in Australia has a number of different structures from sole traders to companies, partnerships and trusts.

Definition of a Sole Trader

“A sole trader is an individual running a business. It is the simplest and cheapest business structure. If you operate your business as a sole trader, you are the only owner and you control and manage the business.” – ATO.

Definition of a Company

“A company business structure is a separate legal entity, unlike a sole trader or a partnership structure. This means the company has the same rights as a natural person and can incur debt, sue and be sued.” – Business.gov.au

Each one has different structures.

As a sole trader there a few costs and setup obligations, whereas if you have a company it is totally different.

Without going into great detail of both structures, it comes down to making sure you all your paperwork is in order, that you have good record keeping, and know what your responsibilities are if you are a Sole Trader or a Company.

If you would like to have a 20-minute free scope call to discuss your needs and talk about how you should structure your business, then please make an appointment with me or call 0429 363 047.

Let me setup your company/business correct right from the start.

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!!

Bookkeeping for tradesmen and tradeswomen

This industry is as we know it in 2020, flat out for tradies, anyone that works on the tools, electricians, plumbers, carpenters,  tradies spend a lot of time mastering their trade and the last thing they want to do when they get home is bookkeeping.

Many might say, I have a wife or girlfriend that can do that for me.

Well, the amount of tradies paperwork I see the partner has been doing, is a complete mess. It isn’t always the best decision to let your loved one do your books.

You need to also remember the time you spend or your partner spends on bookkeeping, is either time you could be charging out or in some case time you should be recharging your batteries ready for the next work day and also if you are in a partnership or married, you won’t be heading to the courts to get divorced.

Keep your business separate and outsource today to a Bookkeeper today.

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!!

Keeping track of finances is a struggle, especially for cafes and restaurants

Do you fit that category?

Are you a business owner who owns a café or restaurant?

Those that work in this industry know how busy one gets with juggling staff, shifts, rosters, suppliers, cashflow, serving customers, taking inquiries, stock taking, cleaning, the list goes on.

I have many clients that work in this industry and you know why they outsource to me to do their Bookkeeping and BAS, because they don’t have the time.

Businesses in hospitality have the highest percentage of failure, due to poor record keeping, I bet you didn’t know that.

As a result, with little or no data, decisions are made on emotion, which is a bad thing when it comes to bookkeeping.

Statutory reporting for many cafes and restaurants can also be an issue with many supplier invoices being GST taxable, free or a combination.

Are you nodding your head in agreeance?

Once you have managed all your supplier invoices and then the rostering of employees, outsourcing to a Bookkeeping makes sense.

Nowadays since COVID, cafes and restaurants have had to come up with different ways to serve customers via delivery or for customers to pick up. Now that we are slowly coming out of the pandemic in different states, business owners are looking at better ways to serve their customers whilst maintaining social distance and following all hygiene precautions whilst still making sure food is served and delivered and ultimately the customer is happy.

It is a massive task for any business owner.

If this sounds like you and you need help, then please give me a call direct on 0429 363 047.

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!!

Does your business comply in a COVID-19 World?

Every business has a duty of care and especially now Post COVID. It has never been a more important time to businesses to stay on top of the ever-changing compliance obligations.

If you have staff, you need to consider and review the following

  1. The changing employment laws in Australia ie Awards
  2. Those returning to the workplace, if they have been working from home during lockdown
  3. If your staff are remaining working from home on a full time or part-time basis
  4. Payments and leave entitlements
  5. Reviewing your staff working hours, location and duties
  6. Standing down employees or ending their employment due to COVID

There is so much to consider during and post COVID-19. We in Australia are not out of the woods yet, we could get more waves of COVID in different states, business will never ever go back to what it used to be and I personally think, that is a good thing.

But be vigilant, stay on top of compliance and if you need me to look at these things for you, please do not hesitate to give me a call on 0429 363 047.

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!!

Did you know Services Australia will begin contacting welfare recipients from November 2nd 2020?

I am sure many people don’t.

The Government has outlined that Services Australia will begin contacting welfare recipients who they think have been paid too much, especially now that the government is ending the pause put into place due to the Pandemic.

The areas that still remain in a state of disaster such as Victoria will continue to be exempt.

Though Services Australia will not begin taking money from Australian’s until February 2021 and that the delay in this debt recovery will still allow people to plan for their future. It still provides enough time for people to consider their circumstances  and what options they have moving forward into 2021.

Services Australia will work with people to make sure the process is simple and that people will be able to commence repayments of their debt voluntarily.

It is something many people are not aware of and because of the Pandemic, Services Australia realizes this has put a financial and mental burden on many people who have lost their job or 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!!

Are you behind in your Bookkeeping?

Are you needing help?

Are you behind in your bookkeeping Lodgements?

Many times, I have what you call, RESCUE JOBS.

Rescue jobs are those clients who have come to me with more then three months work that is behind.

For example, if you are in the following situation, then you are a rescue job

  1. Behind in your tax return lodgements
  2. Behind in your Superannuation contributions
  3. You haven’t lodged any BAS for months or even years

If this is you, I can definitely help you.

Many business owners are fearful that because they have put off their lodgements that they fear they will receive a HUGE BILL from the ATO.

Unfortunately, even though you probably will have a huge bill to pay, you may also receive penalties on top of what you owe for every quarter overdue in you haven’t lodged every quarter.

It can really add up.

Don’t take the mental burden of being behind in your obligations and let me look after your reporting, your BAS and your Tax Returns and everything in between.

It just takes one phone call to 0429 363 047 to rescue you.

Call me today.

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!!

 

Don’t be caught out underpaying staff

Are you aware that changes are happening from the 1st November 2020 to Award Wages, if you don’t you need to read below?

Did you know that the award minimum wages for Group 2 Modern Awards has actually increased by 1.75% from 1st November 2020? The increase in this wage will have a flow on effect to all businesses with loading, penalties, allowance and also overtime payments.

So as a business owner, you should take the steps to ensure wages are compliant with the November 2020 Modern Award increase.

I’ve noticed sometimes businesses never deliberately underpay, so normally it’s a lack of attention or oversight.

Remember to also review any of your ‘all-inclusive’ pay arrangements for employees covered by this Group 2 Modern Award. It’s important to know that employees who receive an all-inclusive salary, that the increase to the minimum rate may affect that of the all-inclusive salary, so make sure you check by going through the employee’s awards entitlements by reference to their actual hours of work.

Now if that sounds all too confusing, please give me a call on 0429 363 047 to have a look through.

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!!

 

The Budget 2020, what’s in it for SME’s?

Check out this link for further info, but the Budget 2020 was an interesting one.

https://www.mybusiness.com.au/finance/7527-budget-2020-what-s-included-for-smes?utm_source=MyBusiness&utm_campaign=06_10_2020&utm_medium=email&utm_content=1&utm_emailID=

There were a mixture of Tax Concessions, JobMaker hiring, whereby if a business hires a young job seeker aged 16-35 they will receive a JobMaker hiring credit of $200.00 per week for every new worker and $100.00 a week if they hire a new person aged 30 to 35 years. This is payable for the next 12 months, if that new person works at least 20 hours per week.

The other one I found particularly interesting was the $800m digital plan, to push businesses to adopt digital technologies post COVID.

Have a look at the link yourself and see what you think. Interesting times ahead for Australia.

Though if you are totally confused by it all, give me a call direct on 0429 363 047.

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!!

maree punzet small and medium business bookkeeper at Maree's Mobile Bookkeeping

About Maree Punzet

Hi, I’m Maree Punzet, a mother to two boys who like many other mums out there with teenagers, one is finishing his High School Certificate this year and it’s been a tough one, doing assessments and exams during COVID-19.

I live in Cobar NSW, a mining town, a small community, where most people who live in Cobar for a while know the locals by their first name. Country towns are like that, everyone knows everyone, everyone knows your husband, kids, heck even the family dog’s name.

When I finished School I started out at the local shire, doing accounts payable, then I got a job at the local travel agency one of my jobs there was to keep the books this was back in the hand written bookkeeping days that was well and truly over 20 years ago, the 10 years ago I decided to start my own business.

I love numbers, finance, anything to do with Bookkeeping I just love it, it’s in my blood, my mum was an accountant. I am a Qualified Bookkeeper & BAS Agent and also been doing my certification to become a Tax Agent, though I do work closely with a Tax Agent. I am a sole trader, I have many people who look after my marketing, my social media, blogs, because I feel marketing is so important.

There are many many bookkeepers in Australia. Competition is fierce, so you need to stand out from the crowd.

I am happily married to my wonderful husband who I met whilst I was still at school and  it was love at first sight. Sickening I know, but when you know, you just know.

In my spare time I love dancing and I dance with our local dance group doing classes in Jazz, tap and Musical theatre.

So that’s just a small glimpse about me, Maree Punzet – Maree’s Mobile Bookkeeping

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!!

Common mistakes people do with Bookkeeping Software

Many business owners saying I don’t need a Bookkeeper, because the software is so easy it does it for me.

I see many times when a client comes to me who has been doing their own books and entering data into the software and being honest, have completed excuse the expression ‘stuffed things up’.

People are allocating bank feeds to the corresponding income or expense account and saying I have completed my bank reconciliation but this is not a bank reconciliation you need to physically match your bank feeds to your physical bank statement to make sure the software says you have the same amount in the bank as your statement, without doing this you could be getting into a big mess.

I see many people coding incorrectly.

You  need to code your GST correctly as not every transaction attracts GST. Not every expense you put through your business account is a deductable business expense.

Another common mistake is not differentially between employees and contractors.

This one is another mistake, not going over your financial statements, the amount of times I see this happen, astounds me.

Not keeping receipts for business purchases, a simple but yet common mistake, so therefore what you are entering into your bookkeeping software is incorrect and people will then try to just put an approximate value, which is wrong.

Recording transfers as income is another big no no. Doing this can obviously inflate your revenue which in turn will increase the taxes you pay.

That is why outsourcing to a professional Bookkeeper is the only way to do business.

Call me today and let me explain how I can help you.

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!!

EOFY – Tips

One of the main ones I see all the time is people not using a registered Tax Agent or Bookkeeper. Peter from Tax and Accounting services and myself have been working together for many years.

We are basically a one stop shop. So we provide both bookkeeping and tax and accounting advice in the one place. There is no need to go to other businesses as well work together for our clients. The beauty is many clients don’t have to ring around trying to find an Accountant or a separate bookkeeper.

We formed our business partnership many years ago and it has worked very well. Not only do we help each other with our client’s needs, but it has been great building a solid model for our businesses and our client database has expanded over the years.

We cover everything from data entry and reconciling to BAS Statements to Tax advice. It has become apparent the number of referrals we receive because of our fantastic partnership.

So if you are looking for a one stop shop and needing assistance at the end of the Financial year with completing bookkeeping, tax returns and also advice when planning for the new Financial year, then let us do the hard work for you.

Contact Peter or Maree

0429 363 047

You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

We are a full service, in-sourced Payroll and Bookkeeping business that puts money back in your pocket.

The benefits of using a Virtual (Mobile) Bookkeeper over an Employee

Each day I receive enquiries from new clients asking me what the benefits are in utilising a Virtual Bookkeeper over an Employee. The simple answer to that question is YOU WILL SAVE MONEY.

Just imagine you are the client, you’re weighing up the options of which way to go, do I start advertising in the local paper, on seek.com or asking people for recommendations for a new staff member. Do I really want to go through the shortlisting, interviewing and ultimately in the end employ someone that may not work out. Then have to go through the whole process again to possibly be disappointed once again.

No Way..

As any small business owner would know, most are too busy to interview for staff and you need to consider expense in wages to pay for this employee?

I would much prefer to employ a Virtual Bookkeeper and these are the reasons why:

As a small business owner who is based at home, I don’t want someone onsite regularly coming into my home and family space, using a Virtual Bookkeeper is great, everything is done “Virtually” by email, phone, and cloud.
I don’t really have the space for a staff member. Nor do I have the money for a desk and office equipment, phone etc

That’s right the extra expense of paying sick leave, holiday leave and superannuation.

A Virtual Bookkeeper saves time, money and stress. Why would you consider an employee, it doesn’t make good economic sense?

So contact Maree from Maree’s Mobile Bookkeeping today on Mobile: 0429 363 047

 

Bookkeeping is like a box of chocolates, you never know what you’re going to get!!!!

Oh, I so loved that movie with Forrest Gump, sitting on that park bench, talking to whoever wanted to listen.

How true, when it comes to Bookkeeping, you definitely do not know what you’re going to get.

Each client that I work for, come from different areas, backgrounds and industries. When I receive their paperwork, believe me, it is like a box of chocolates. Hand written notes on post-it’s, shoeboxes full of receipts, emails explaining different expenses.

It can be quite funny as many clients absolutely detest this part of their business, that is why they outsource to me.

I actually enjoy the anticipation when I open up an email or shoe box what sort of surprise I will receive because let me tell you, I have had many surprises. There never is a dull day when it comes to Bookkeeping.

So let me get your ‘chocolates’ in order and fix your bookkeeping today and if you want to send me an actual box of ‘chocolates’ I am ok with that too!

Contact me today.

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!!

If I had a little money, it’s a rich man’s world

‘I work all night, I work all day, to pay the bills I have to pay
Ain’t it sad

And still there never seems to be a single penny left for me
That’s too bad’

Now, I’m not going to write all the lyrics of that famous ABBA song. Money, Money, Money, but I do want to talk about money. Why is it so important to small businesses? Money is ‘gold’ when it comes to small business, all businesses large or small need cash-flow.

Money does help to pay the bills, helps expand a business, pay’s the employees and also helps to pay for marketing and websites and a new CRM program or equipment and material for example. It is one thing we all need. Though when it comes to business, it is one thing we seem to not have a lot of, or we are always chasing clients for payment.

This is where a ‘bookkeeper’ comes in handy, making sure your income and expenses are entered into correctly, that you are aware of your profits and losses, how much tax you have to pay. Your incoming and outgoing expenses and just the general efficient running of the ‘money’ side of your business.

So why don’t all businesses utilize a ‘bookkeeper’?

It is the most important job to do for any business owner.

If you are out there making sales, getting work in only to not receive dividends of your hard work, then basically you are working for ‘fresh air’.

No one wants to work for ‘fresh air’ we work for ‘money’.

I hear you saying, but we do it for the love of it, deep down we all know we still do it for the money. That’s what business is about, it is difficult at times and some months are better than others, but don’t let this part of your business fail, because if it does, there won’t be a business.

Review your business model, look at utilizing a bookkeeper and know that you will have ‘money’ always in your account, not ‘fresh air’ and to add, it’s not a rich man’s world anymore!!!

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, in-sourced 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!!

Did you know that NSW Agriculture is facing significant labour shortage due to COVID-19?

“The Help harvest NSW program is aimed at assisting residents find seasonal employment opportunities with farm producers and agribusiness during COVID-19. The NSW Government web hub has a range of jobs on offer including fruit picking, grain harvesting and working on a cattle station”

More information can be found clicking on this link below.

https://www.nsw.gov.au/covid-19/help-harvest-nsw

It is sad to think that there is a labour shortage in this important area of agriculture, where so many people are looking for work.

Maybe people need to be more open to other forms of work, yes it involves physical work, heavy lifting and bending, but as a Country many people have had to pivot in what they may have done before. I have heard of Pilots who have been flying for 20 plus years, now doing cleaning.

For those in the Agricultural field that are looking for seasonal work, we cannot pick and choose what we want to do in this current climate, so hopefully they will find more people that will put their hand up and do this work.

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, in-sourced 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 is stopping you from outsourcing to a Bookkeeper?

This question keeps coming up all the time in every social media group, forum and I think the big reason why businesses are stopping from outsourcing to a Bookkeeper is ‘fear’

Like anything that is new, because we feel safe doing things ourselves and yes when it comes to finance and paperwork related to a business, there is that element, will this Bookkeeper know what to do? They can se all my finances and what my business makes and what our profits are. I don’t like others knowing personal details about my business. Will they judge how I have been doing my own books? Will they laugh at me when I provide them receipts in a shoe box?

The answer is NO.

I’ve been a Bookkeeper for over 20 plus years. Confidentiality is the most important part of my job. I have never laughed or joked about a client’s business. I applaud when a client comes to me, because it’s at that time where they are throwing their hands in the air saying ‘could you just do all this’ I’m at my wits end and I don’t have a clue what I’m doing.

Now it’s brave to ask for help.

I understand that fear and bravery both come to mind when a client takes that initial step to outsource their bookkeeping to me.

It’s no different if I was outsourcing and sending my car to a mechanic. I don’t have any idea what goes on under that engine. Do I feel fear, anxiety when I take my car to the mechanic, NO…because my mechanic does this work every day, I trust him to look after my vehicle and get it working to its maximum potential?

That’s how you should feel when you outsource, confident, happy, not fearful or nervous.

If you want to have a 15-20-minute chat about outsourcing your bookkeeping to me, I am more than happy to speak to you anytime.

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, in-sourced 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!!

Can you still get Job Keeper if you receive the Carers Pension?

Now this question has come into debate recently. There is a link here stating you cannot obtain both.

The Job keeper payment will affect the amount of money you receive for the Carers Pension. If you do however submit for Job keeper, your Carer payment will either stop or be reduced. Once you do not receive the Job Keeper payment. Once the Job keeper payments stops, you can then reapply for your Carers Payment again. Therefore, after this 12-week period, you will need to reapply again from scratch for the Carers Pension.

So, the answer is NO. It is always wise to review the ATO website and also speak to your Bookkeeper in regards to what you can and can’t receive. This easy read fact sheet, states plainly very clearly what you can and can’t do.

If you have any questions in relation to Jobkeeper or the Carers Pension, please do not hesitate to contact me anytime on 0429 363 047.

https://www.dss.gov.au/sites/default/files/documents/05_2020/dss-carer-payment-jobkeeper-payment-easy-read-fact-sheet.pdf

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!!

My clients refer me, so will you!

In 2020, testimonials or if you want to call them reviews or referrals are GOLD. With the current COVID pandemic and economic crisis in Australia, the last thing you would think you would receive are testimonials from your clients, but this is exactly how my clients feel about me and I couldn’t be more thankful for their continued support over the years.

I enjoy what I do as a Bookkeeper and this is just icing on the cake, when you receive testimonials. Many of my clients have reached out to me since the beginning of COVID probably more so, then ever before, but that’s what I am here for, to support, to provide advice and guidance and to make sure that their business is running smoothly.

Here are just a few recent testimonials from clients.

I am very happy with Maree’s professionalism and service. She is very reliable. Her fees are very affordable. 

Gabe Martin | Lawyer | Nightcliff NT

Maree has taken all of the stress out of my bookwork and I would highly recommend her services are truly good value for money

Graeme | Mix It Concrete | Trangie NSW

So, if you don’t believe me, visit my website and you will see more testimonials from clients. Better still why don’t you call me and let’s chat.

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!!

 

 

Virtually insource your PAYROLL, no need for an onsite Bookkeeper!

Since COVID started in 2020, the world as we know it and how we do business has become very different.

As a Bookkeeper I have spent years working with clients all around Australia, so COVID didn’t impact my business at all.

Many people who were making the long trip into work are now working from home.

With border closures, states in lockdown, second waves and the virus still spreading, why would you take the chance and have an onsite Bookkeeper?

For your own safety and that of your family, there is absolutely no need in 2020 and into the future, utilizing an onsite Bookkeeper.

Since COVID, my inquiry has increased because many businesses didn’t know about virtual bookkeeping. I have been in this business for over 20 years and 99.9% of all my clients I have looked after, I have never met in person face to face, because it’s all virtual.

Virtual is the new word of 2020.

I can email, I have Zoom meetings with my clients, I can pick up the phone and call a client or visa-versa if there are any questions, PM, DM, social media.

At the end of the day, the client is safe, I am safe, our families are safe, there is no spread of any virus, because I work virtually. All work is completed in the same manner, if I was physically onsite.

So if you are a business give me a call and give me 10 minutes of your time, because I know by the end of the conversation, you will never use an onsite Bookkeeper again.

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!!!

Will you still be eligible for JobKeeper after September 2020?

Recently the Prime Minister and the Treasurer have indicated what the JobKeeper program will look like moving forward after September 2020 through to 20th March 2021.

For those that are currently on JobKeeper, the current arrangements will be staying in place to September 25th, that’s when things are changing.

Beyond September 25th 2020 until March 20th 2021, the Government has brought out the new two tier system at a lower rate for businesses who may be eligible. The reason they are doing this as they know many businesses are doing it tough, but not to completely cut off funding, they have reduced and brought in this system, which personally I feel is extremely generous, as the Government could have stopped the payments after September 2020.

1. But who is eligible?

If you need assistance and not sure, this is where I can assist and help you.

To apply for JobKeeper 2.0 support for the quarter ending 27th December 2020, a business will need to meet the required downturn (30% or more) for both the June 2020 and September 2020 quarters.

To apply for the following quarter, ending 28th March 2021, a business will need to meet the downturn (30% or more) for each of the June 2020, September 2020 and December 2020 quarters.

2. So will the JobKeeper payments be reduced?

The answer is YES.

After September 25th 2020, the current rate of $1500.00 per employee payments will no longer apply. In the next phases there will be two tiers of payments and reductions each quarter.
The first level will be for people working 20 hours or more a week.

The payments for these employees will be reduced to $1200 per fortnight for the Dec 2020 quarter and further reduced to $1000 per fortnight for the Mar 2021 quarter
The second level will be for people working less than 20 hours a week.

The payments for these employees will be reduced to $750 per fortnight for the Dec 2020 quarter and further reduced to $650 per fortnight for the Mar 2021 quarter.

This is in line with new changes to the JobSeeker payments.

The exact details around these changes are of course still to be legislated, and as a result subject to change, but this is what we know now.

Of course, if you have any questions, please don’t hesitate to contact us.

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!!

The Fair Work Ombudsman is prioritizing COVID-19 workplace disruptions which include the Job keeper payment compliance

What that means is over the next 12 months, the Fair Work Ombudsman (FWO) are reviewing any underpayments in large corporations.

Fair Work Ombudsman Sandra Parker has confirmed that Aussie workplaces can expect a degree of flexibility in the FWO’s enforcement approach in the new financial year, especially those sectors heavily impacted by the coronavirus crisis’

There have been many sectors within the Australian economy that have been seriously impacted by COVID-19. The FWO will enforce workplaces of their financial positions and review the challenges each are facing whilst recovering from the health disruption. The FWO are trying to uphold the integrity of the Jobkeeper scheme through these appropriate compliance activities.

“Due to the impact of COVID-19 on Australian workplaces, the number of employers and employees seeking our assistance has grown significantly,” Ms Parker said.

“More than 60 businesses have come forward to self-disclose workplace law breaches, with a total of half a billion dollars owed to workers — and that’s just what we know about,” Ms Parker said’

In other words, many large organisations in Australia need to prioritise and review workplace relations systems to ensure their paying workers are receiving the entitlements. Areas such as the fast food industry, cafes, restaurants, horticulture sector, franchisors and sham contracting.

‘Ms Parker did, however, explain that the agency will provide education, advice, tools and resources to small business and those hardest hit by COVID-19’

The FWO will take into account those businesses and their financial circumstances.

Excerpts taken from https://www.fairwork.gov.au/about-us/news-and-media-releases/2020-media-releases/july-2020/20200713-media-release-2020-21-priorities

If you have any questions or queries, please do not hesitate to contact me direct on 0429 363 047.

Maree Puznet
Marees Mobile Bookkeeping
www.mareesmobilebookkeeping.com.au

Watch Out!!! The ATO is chasing those Job Keeper cheaters

https://www.news.com.au/finance/money/how-jobkeeper-cheats-will-get-caught-by-atos-allseeing-eye/news-story/ad0f088e04a423634100f21028ea5aa6

It makes you wonder how many businesses out there that are doing the wrong thing and so many are really in financial hardship.

Stories of people turning down business, claiming for payment for family members who don’t actually work within the business or full time workers who have not lost any hours, but still are claiming the Job keeper illegally.

It makes you think how this is going to affect our country, not only now, but years and years down the track. This money has to be repaid back, it’s not just the taxpayers, but our children and grandchildren who will suffer.

I just hope the ATO are able to chase the cheaters.

But if you yourself are not 100% sure that your legally entitled to Job keeper, then please contact me and we can go through everything, or if you know of anyone that is reporting illegally, the ATO have a Tip Off line on 1800 060 062.

Otherwise, call me on 0429 363 047 and we can go through this together.

Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au