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SME business and accounting guide
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WELCOME

 

Hello and welcome to our new look newsletter. We hope the EOFY hasn’t been too stressful and you are now making plans for a fresh and successful new business year.

Have you thought about moving to cloud accounting for the new business year? If so, July 1 is the perfect time to say goodbye to your time-consuming data entry, or pen and paper bookkeeping, and start afresh. With cloud accounting, all your accounts, payroll records, and tax information will be stored in an easily accessed, secure, regularly backed-up space so there’s no chance of losing valuable data thanks to forgotten back-ups or broken equipment. Moving to cloud accounting a few months into the year will take a bit more work, as you will need to import all your financial information from those months to bring your records up to date. Switching on July 1 makes everything clean and tidy.

More reasons why moving to cloud-based accounting will start your year off on the right foot include:

  • It saves you time and money. Less time on admin = more time on business growth.
  • Next year’s EOFY compliance will be easy!
  • Federal Budget small business tax concessions make it cost effective to upgrade your accounting software.
  • Real time data. Transactions are always up to date, compliance is simplified and payroll is automatically calculated. You make smarter, more informed business decision based on real-time insights.
  • Access anywhere, anytime. You can see your business account balances, overall cash position, outstanding invoices and much more from any device with an internet connection. 

Cloud CFO is passionate about cloud accounting, so if you would like to know more about how it can benefit you, contact us here.

AROUND THE WEB
Here are our two favourite articles from around the web this month. 

How cloud accounting helps small business keep on top of their financials
 

COMPANY NEWS
 
We've had a wonderful response to our brand new website, thank you for your feedback. Make sure to visit our blog, where we share helpful, informative posts on all things business and cloud accounting, and don’t forget to email us with any questions you need help with, or post them in the blog comments section. 
 

HAVE YOU JOINED US ON LINKEDIN?
We are adding our blog posts to LinkedIn Pulse so head here and click "Follow" to join us.  While you’re there, head on over to Cloud CFO’s company page and "Follow" us there, too.
 
ON THE BLOG
We’re posting regularly on CLOUD CFO’s blog page. To subscribe, please click here.
Here’s June’s most popular post.
Small firms shift towards cloud-based software


APP OF THE MONTH

PRACTICE IGNITION

 
Want to save loads of time? Practice Ignition is a clever piece of cloud-based business management software that streamlines your entire client on-boarding process. It automates practice management, centralises client interactions and effortlessly interfaces with major cloud-based systems like Xero, Xero Practice Manager and Quickbooks. There’s an initial free trial offer then prices starts from $79pm.
 
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DATES TO REMEMBER

July 14
All employee payment summaries issued.
 
July 21
June Monthly BAS is due. If you are registered for payroll tax your annual reconciliation must be completed and lodged by this date.
 
July 28
Quarterly BAS due. If you use a registered tax or BAS agent, you have an additional four weeks to lodge and pay.
 
July 28
June Quarter Superannuation Guarantee due.
IMAGES :: Business IT | The Wall Street Journal | Practice Ignition | CBicenhour
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