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2022 the year ahead

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2022…

Well it’s here.

Can you believe that the last 2 years has changed everyone’s lives?

Some has been positive changes and some have been negative changes.

I’ve seen many of my customers having to put more staff on, where others have had to let staff go.

Who would have predicted this would happen?

Who would have thought a pandemic could destroy or help a business?

No one saw this coming.

Who would have thought Australia would have border closures?

Who would have thought you couldn’t travel?

Who would have thought Real Estate would increase at such an incredible rate?

Who would have thought people would become homeless?

I have seen so much change over the last 2 years especially when it comes to Bookkeeping. With Job keeper, with grants, different changes to STP Phase 1 and STP 2 and everything else that the Government has imposed.

If you just need to have a chat about your business and where it is headed, please give me a call 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

Did you know that half of Australian workers were underpaid during the pandemic?

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When you think about that, that is disgusting to think 50% of workers were underpaid.

ADP’s People at Work 2021: A Global Workforce View surveyed 1,902 workers in Australia, and reveals one in two (52 per cent) workers believe they have been underpaid at least once during the pandemic. Similar numbers (51 per cent) believe that they had been paid late, up from 48 per cent prior to the onset of COVID-19.

The ADP research also indicates two in five workers were overpaid (38 per cent) or experienced issues with their pay (43 per cent), such as failed payments or incorrect tax.

That is a pretty alarming rate of people who received incorrect pay-slips. This has caused loss of employee confidence and causing stress during COVID and many people not able to afford to pay their bills.

Not only that, “Businesses need to be mindful that employees are paying a watchful eye on their payslips. If business operators, all the way from local SMEs to multi-country conglomerates, don’t prioritise running efficient, accurate and reliable payroll divisions, they risk losing talent.

“When employees experience errors in their pay, payroll staff shift their focus to answering queries and checking historical data, distracting them from processing payments or spending time on more strategic work. Often, the first step to improving payroll accuracy is automating the input of data using integrated digital technologies.”

Hence this is why many businesses should be outsourcing their payroll to a bookkeeper, like myself to ensure this doesn’t happen. I take pride in what I do and pay accuracy is up there as one of the most important tasks that I do for businesses.

This is a real shame many businesses have done the wrong thing by their employees and in turn will reduce their workforce when people leave the 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

Are you eligible for the 2021 COVID-19 business grant in NSW?

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https://www.service.nsw.gov.au/transaction/2021-covid-19-business-grant

This info has been taken from the link above.

‘If you’re a business, sole trader or not-for-profit organisation in NSW and you’ve been impacted by the recent COVID-19 restrictions, you may be eligible for a one-off grant of $7,500, $10,500 or $15,000.

The 2021 COVID-19 business grant provides support for businesses that experienced reduced demand or had to close due to the public health orders. It will support businesses with cash flow for the first 3 weeks of the Greater Sydney lockdown which started on 26 June 2021.

Eligible applicants across NSW can use the grant for business costs incurred from 1 June 2021, including:
• utilities, wages and rent
• financial, legal or other advice to support business continuity planning
• marketing and communications activities to develop the business
• the cost of perishable goods that can no longer be used
• other activities to support the operation of the business’

If this is you and you fit the criteria, I would definitely be applying today, if you need help, I am always happy to help any time.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

Is COVID and shutdowns affecting your business?

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With the many businesses that I do bookkeeping for, some have been affected, but the majority haven’t, during COVID and the many shutdowns.
I think because many business owners have had to either pivot or look at different ways to operate their business, either by having staff work from home, or look at different options in the way they operate their business.

I am not taking it away that many hundreds of businesses have closed completely due to the lockdowns in Australia. But it does show the resilience we have in Australia and as Australians, that even a virus or shutdowns, won’t stop us from managing and operating our businesses.

I would be interested to hear your thoughts; how have you managed your business during all the lockdowns in Australia.
If you need any bookkeeping assistance, don’t hesitate to contact me 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

The COVID Rebound

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Can you believe it’s been 12 months already of the 1st case of COVID. In Australia we faired pretty well compared to the rest of the world.

We are definitely in rebound mode, for many business owners, it’s survival. Some have been able to grow leaps and bounds, pivot, while others have relied on the Jobkeeper payments and still could close.

But the outlook looks to be that Australia business is on the rebound.

There has been new consumer confidence in the market, people seem to have more money, they are spending on homes, cars, holidays locally and interstate because they can’t spend that money on overseas holidays.

So there are a couple of things to think about with this rebound which is:

1.Cashflow
Look at your business and review exactly how much it needs to survive and what timeline.

2. Documentation
Document everything, if you are not already, look at streamlining your processes. Start reviewing your costs in pre-crisis revenue and margin to post crisis.

3. Inventory
As Australia is starting to reopen borders, early movers building inventory soon may benefit from pre-surge prices.

4. Prepare to Hire
I know that sounds crazy, but can you afford to add staff now or not. Do you have a HR person to help, look at identifying job descriptions, start dates.

5. Work with the best Bookkeeper
Now this one is a given, you need to talk to me. A good bookkeeper will save you a lot of $$$.

So remember, we are coming out of this pandemic and it’s exciting to see Australia rebound and show the rest of the world, how tough and resilient we truly are.

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 and saves you time to work in/on your business this makes good financial sense!!

Does your business comply in a COVID-19 World?

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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!!

Job Keeper Payment changes effective 3 August 2020

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With all the recent changes, we now have confirmation of the following, this has been taken from the ATO Website.

“JobKeeper Payment changes

The government has introduced changes to the JobKeeper Payment, making it easier for you and your business clients to qualify. The new rules have now been registered and are effective from 3 August 2020.

The changes to these rules include:

  • employees’ eligibility for the JobKeeper Payment can now be assessed from 1 July 2020, rather than 1 March 2020
  • employees can now be nominated by new employers if their employment has changed since the JobKeeper Payment began. However, they can still only be nominated by one employer at any given time
  • employers have until 31 August 2020 to meet the wage condition for new eligible employees under the 1 July eligibility test for:
    • Fortnight 10 – commencing on 3 August, and
    • Fortnight 11 – commencing 17 August 2020.

Businesses can claim reimbursement for their new eligible employees between 1 and 14 September 2020, when they lodge their August monthly declaration.

Your eligible business and not-for-profit clients can still enrol at any time until the program closes”

So, what does this all mean?

In simple terms:

Originally you had to be a permanent employee or a long-term casual from the 1st March 2020, but the Government has changed it if you have been a permanent employee or long-term casual from 1st July 2020.

A couple of examples to give you that makes it simpler to understand.

  1. As long as the business you work did have a downturn in their business and was getting Job keeper since the start of the Health Crisis, if the business puts on an Employee in April 2020 for example, they can also apply and get Job keeper for that employee.
  2. If you have a long-term casual who celebrated 12 months or more working in your business in April 2020, you can now get Job Keeper for them.

If you are still confused and not sure about all these changes, please do not hesitate to contact 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!!

Businesses have survived COVID-19 with the help of a Bookkeeper

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There has been so much negativity in the news in Australia about businesses closing, people losing their jobs. But there have been many businesses that have thrived and survived during COVID because of the help of a Bookkeeper.

Not one of my present clients have had to cease my services, to be honest, my clients have contacted me during this time, to help them with all the changes of the Job Keeper, Job seeker and EOFY, so it’s been quite the opposite.

The clients I look after range from all different industries and all have survived this health pandemic and economic uncertainty. It proves that many businesses did not have to lay off staff, some have pivoted and looked at other ways to sell their products or services.

As a Bookkeeper and BAS agent, my work has probably increased a little due to more discussions on the phone, face time, emails with questions, but that is part of my job and I love helping my clients.

If you feel that it’s time to look at obtaining a Bookkeeper to help guide you through the COVID crisis, then please give me a call anytime.

I have worked in the industry for over 20 plus years, with qualifications and experience that is second to none.

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!

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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?

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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!!