Ideas

Everything begins with an idea

One of our core values is ‘learning’ so we aim to share business ideas and discussions with the food industry to prompt business owners to make better decisions and ask challenging questions. Information within our blog and website is general advice only which is available in the public domain. It is not tax advice. Tax, payroll and compliance information changes on a regular basis so always refer to Fair Work, the ATO, Tax or BAS Agents and state or industry bodies for compliant advice relevant to you.

  • Restaurant Bookkeepers manage super cash every pay day

    PAYDAY SUPER PAYMENTS ARE COMING

    Treasury has a target date of 1 July 2026 to introduce payday super payments. This means that employee super will be paid to the super funds every pay day - not quarterly. While this may seem like an added task, most small to medium businesses will be able to manage cash flow better. The [...]

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  • Clear Terminated Employees Off Payroll Now

    Employees who have left your business, must be terminated correctly in payroll software.  Now that payroll software is electronically connected to the ATO via Single Touch Payroll (STP), the ATO has direct visibility on aspects of your payroll systems. Software such as Xero, foundU, Employment Hero (formerly KeyPay), MYOB and more, have built-in compliant payroll [...]

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  • What is PAYGI on my BAS?

    If you have noticed a large $$ jump in your latest BAS liability, but not an increase in sales or wages, it may be because your business must now pay PAYGI.   This is the acronym for Pay As You Go Instalment tax. PAYGI is different to the PAYG tax on an employee's pay slip.  Yet [...]

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  • Balancing the Balance Sheet

    How To Track My ATO Balance in Xero

    Most hospitality businesses have fallen into this situation, especially during the COVID pandemic - Cash flow fluctuated like a feast or famine and trying to forecast the future cash flow was impossible.  Then the next BAS Activity Statement was due and there wasn't enough cash to pay it.  Next minute.... you have an ATO debt [...]

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  • Business mentors for restaurants cafes

    How to Choose a Business Mentor

    It can be tough to find business mentors that add value. You want to like your mentor and become mates.  He/She needs to see your point of view.  Right? No! Wrong! Mentors and coaches present themselves throughout your life journey. You might not even realise it at times.  You are a product of the experiences [...]

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  • Can I get JobMaker for my business?

    JOBMAKER is replacing JOBKEEPER As JobKeeper winds down, the new program of JobMaker Hiring Credit scheme is ramping up.  It’s for a long date range of 2 years: October 2020 to October 2022. It’s not as generous as JobKeeper, but it will assist businesses with some cash relief as a reward for hiring more employees. [...]

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  • 10 Steps to Balancing Xero for Compliance

    Reconciled and accurate Xero files may be the difference to getting a government cash incentive or not. Or securing that needed bank loan for new equipment or overdraft extension. It also means the business reports you read are a true reflection of how the business is performing and you can make the necessary business decisions [...]

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  • Financial Relief & JobKeeper during coronavirus (COVID-19)

    Regular updates on JobKeeper, Financial Relief  and Government's Economic Response to Coronavirus COVID-19  - - Simplified and much more.  This information is for businesses with aggregated turnover of less than $1 billion only. For full details, contact us for information relevant to you. RESTAURANT BOOKKEEPERS AUSTRALIA IS OPEN FOR BUSINESS AS USUAL - our team [...]

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