MY BUSINESS IS GOING WELL – AM I MISSING ANYTHING?

Nyssa Gower
April 12, 2022

Business Activity Statements

You’ve started running a business, things seem to be going well, but what is this? A letter from the ATO saying ‘you’re late lodging your Business Activity Statement (BAS) for the last quarter’. I didn’t receive the original BAS – where did it go?

Staffing

I need to employ a staff member and I’ve found the right person. We’ve agreed on a rate of pay, is there anything else I need to consider? How do I set up their payroll? What about their Superannuation Guarantee Charge (SGC)? And Withholding (PAYG W) tax? They have a HELP debt, they want to salary sacrifice, what do I do?!

Xero

I’m downloading my bank statements into excel to prepare my BAS’s and sending out invoices using a word template, is there a better way to do this?

Tax

My bank account is growing, have I met all my tax and other employer obligations? Is this money actually mine?

Profits

My business is growing, but my bank account is not and I’m struggling to pay my bills – what is happening? How do I make my cash grow with my business?

Help

Eagle Accounting can help you along every step of the way. Our client support package ‘The Hatchling’ may be perfect for you. We assist to ensure your business administration is done as efficiently and effectively as possible. That way you can measure your business performance, work out how much to pay yourself, and have peace of mind your reporting compliance is taken care of.

Contact our office today for assistance in making your business soar

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