7 February 2023
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Are you up to date and ready for the STP phase 2 roll out?
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Are you ready to get the most out of your business software?
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Are you ready to succeed in 2023?
We're the team to help you achieve your financial and training goals in 2023.
Here we are, it's February already, the holiday season is over, and you're wondering how you can make the most impact this year for your business.
We recently caught up with one of our longstanding consultants and Business Development Manager, Pam Chilman to ask for suggestions that could have the most impact:
Outstanding Accounts
Tidy up the list by ensuring all outstanding sales and bills showing in your software are correct and should actually still be showing as outstanding.
Common mistakes are to receipt and pay bills but not match them off in your accounting software correctly, or in some systems to enter journals to write off bad debts.
Ensure those who enter these transactions or adjustments understand the appropriate methods for the software being used or organise some training for them so that they use the correct automated workflows.
Payroll
Did you know STP Phase 2 is in place with many of the software products?
Most users have simply turned on STP2 without checking that their settings are correct, so you could be reporting incorrectly!
STP1 was about the technology working… STP2 is more about understanding the expanded payroll reporting requirements.
Book an appointment now with Yvonne Varella, lead for our Technology & Knowledge team, to check you're reporting correctly.
Plan to Succeed
Accounting software includes features to track not only what you actually spent but also what you plan to spend. Why not use features built into your software to plan to succeed!
By putting these budgets in your software or an add-on that links to your software, allows for ease of comparative reporting. Serious about budgeting, cashflow and board reporting? Why not make use of great add-ons such as Calxa. For those keen to make full use of Calxa, our next hands-on course is Tuesday 21st February when we show you how to save time to automate the process, share information with your team and learn tips in automating your reporting processes.
Remember with the right information, you can make good decisions, or liaise with your financial advisor who can assist with planning or making the necessary recommendations or changes. The famous quote from Sir Francis Bacon ‘Knowledge is Power’ still rings true today!
Need a hand with any of the above tips? Or feel like a refresher course might kick start the year? Contact our team to discuss options on 02 6260 4994 or visit our website for a list of courses available.
