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Accounting for Home Builders

Could you build a structurally sound house without building plans? Impossible!  The same goes for your building business- running a successful company without proper accounting is impossible!  The construction industry contributed to 9% of all goods and services produced in Australia in 2022. This statistic highlights the industry’s significant role in the economy, meaning there’s …

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Bookkeeping for Restaurants – How an Accountant Can Help

As a restaurant owner, you want your financial records to be like a masterfully crafted, perfectly seasoned dish, with every number in its proper place and every expense accounted for. But let’s face it, in the fast-paced world of the culinary industry, your finances can sometimes look more like a chaotic kitchen after a Saturday …

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Accounting for Medical Practices

Running a medical practice is no small feat. From diagnosing ailments to offering life-changing treatments, your plate is always full.  But amidst the hustle of patient appointments and the commitment to improving lives, another aspect demands your attention- the health of your medical practice’s finances. The challenges of accounting for medical practices can be as …

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Accounting for Retail – How an Accountant Can Help

The cha-ching of the cash register or the ping of an online sale is music to every retail store owner’s ears. But as the symphony of a thriving business plays, the accompanying notes of receipts, invoices, and financial statements can sometimes strike an off-key tune.  When those complexities threaten to disrupt the harmony of your …

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Accounting for the Hospitality Industry – How an Accountant Can Help

If you’re running a hospitality business- a bustling restaurant, a cosy pub, a vibrant club, or an inviting hotel- you already understand the distinct blend of exhilaration and exhaustion that defines this industry.  Between the hustle and bustle of pleasing patrons are daily accounting tasks you must take care of. Accounting is the silent yet …

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Accounting for Law Firms – How an Accountant Can Help

While your expertise as a lawyer lies in arguing cases and interpreting legislation, managing your law firm’s accounting processes is a completely different matter.  The good news?  The right accountants have experience putting accounting systems for law firms in place to help your business. In the upcoming sections, we’ll explore the specific financial challenges law …

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Accounting Software for Home Builders – Is It the Right Choice?

Just as you wouldn’t use a hammer to cut a piece of wood, the tools you choose to manage your home-building business finances must fit the task at hand.  The right accounting software tool can revolutionise how you handle your business administrative tasks, ensuring higher efficiency and accuracy.   Whether you’re a sole trader or run …

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New Tax Reporting Law for Platforms Within the Sharing Economy

If you operate any form of asset or service-sharing platform, you need to know about the recent change in tax law. This applies to ridesharing or taxis and short-term accommodation. From July 2024, it will also be rolled out to meal delivery platforms, and all other task-based services, assets and supplies within what is known …

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Real Estate Development Accounting: What’s Different about Development Finance?

Real estate development accounting has plenty of unique complexities and challenges that make it entirely unlike other areas of accounting. Whether you’re exploring hiring a property investment accountant or attempting to grapple with real estate development accounting software, understanding the financial obligations and accounting styles involved in this process is invaluable. We cover everything you …

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Best Tax Software for Real Estate Agents: 3 Options that Make Your Day Easier

If you’re a real estate agent, you know how important it is to keep accurate records of your taxes and finances.  With the right software, you can save time and make sure that your finances are in order. In this article, we’ll review three of the best tax software for real estate agents: Xero, MYOB, …

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