Monthly Archives: October 2017

How do you file?

Today we’re talking filing – only not the manual kind like this picture.  Today we’re talking filing on your computer.

If, like me, you create a multitude of word and excel documents for your clients (or customers, as the case may be), and you receive many PDF files or perhaps you need to file bills, invoices and bank statements online – it is EXTREMELY important to be able to find them.

It follows, therefore, that naming and organisation of online files is also EXTREMELY important.

I like to keep my file names short yet descriptive, and I am a fan of separating files into relevant folders.

In most cases I begin with Surname_Firstname, followed by a selection of folders such as Permanent, 2015, 2016, 2017 (to represent the financial year) and then the document beginning with the applicable date.

An example of this might be 2017 06 30 WP (WP being workpapers), or within a folder labelled BAS I would create a document called 2016 09 30 Signed BAS.

Does this make sense?  At least it does to me and that is probably most important at this stage!

At the end of the day, your filing system only needs to make sense to you, but it should be consistent and easy to follow.  If it is easily done, then you’ll be more likely to file correctly in the first place, and searching for things down the track will be a breeze – trust me (I’m an Accountant!)

Regards

 

Coaching in sport and business.

Many of us have just finished supporting the Australian football season (of various codes) and we know that having a coach in sport is a given.

The sole intention of professional sportspeople and teams is to win and the coach provides the structure and support to help them get there.

That makes sense doesn’t it? Just like A, B, C.

The same can be said for business.

How many of you have gone into business because you have a passion for your product or service? Hopefully ALL of you! But just because you have passion doesn’t mean you won’t need support.

Not all business coaches are the same, we each have individual strengths and as a business coach I can help you with public speaking and communication skills, how to start a business, assistance with managing your team, and help with the balance between work and life (for you as the business owner, or for your staff).

Whether you’re looking for executive coaching, start-up business coaching, management coaching or staff coaching and team development there are just a few things you need to consider first:

  • are you coachable (willing to welcome the coaching into your world and be prepared to do the work)?
  • are you open to answering questions honestly without judgement?
  • are you open to receiving feedback?

If so, contact me or email bron@bronlevettcoaching.com today.

Regards

Employee rewards

As an employer, we all know that we must pay our staff their agreed salary or wages according to awards and contracts.

But what about other rewards?

These days, as our lives are full and busy with many and varied activities, it is often the rewards outside remuneration that keep staff happy and motivated and in turn loyal to their employer.

Obviously I have a great boss!  Her financial remuneration could do with a boost but the other rewards she provides me are great (ha ha…I am totes funny)!

Seriously though – in my family business we try to provide rewards to our staff to foster an environment in which they feel valued, these include shouting mid-morning coffee or lunch occasionally, closing the doors at 5pm sharp (no overtime other than being on call for the 24 hour emergency roadside service we provide) and a bonus day off at the end of their two weeks on call.  We operate a family friendly business and if the kids need to come and sit in the TV/waiting room after school, or you need to take a personal phone call or duck out to buy a birthday present, then that is OK.

Some other rewards you can provide range from special treats in the tearoom, providing magazines and books for the reading pleasure of staff, or the occasional long lunch through to relevant technical or personal development training or coaching or even extravagant after hours parties and social events.

Tell me some of the rewards you provide your staff.  If you are an employee, what are some rewards your employer provides to you?

Regards

An example that supports my concerns

This sad face here is my concerned face when I read posts on social media where non-qualified people from all walks of life provide accounting and taxation advice in the form of answering call outs for help.

Earlier in the week I wrote that “I cannot stress the importance of taking advice from a professional rather than friends at the pub or via social media – there are far too many variables to consider and your investment in a consultation with The Tax Chic may just save you lots of $$ in the future.”

Let me share with you where this concern comes from…

I saw a social media post recently into a business group where the original author asked a question along the lines of “Do I really need an accountant to prepare my business tax return? I barely made enough money to cover my car repayments which I know are deductible so it doesn’t seem like it would be worth it”

Many people chimed in with their thoughts, some applying the law correctly and others not.  But in this case, how is the original author to know who was right and who was wrong?

If you are well versed in tax law then I have no problem with you completing your tax return yourself, that is totally your call. But if tax is not your forte, I implore you to seek professional advice and please include a budget for accounting fees in your business calculations.

In short – car repayments are NOT deductible.  If your car is leased then the work related portion of those payments may be deductible, otherwise, only the interest portion of car loan repayments, along with depreciation and other vehicle expenses may be claimed to the extent of your business use according to your log book (the other option for claiming motor vehicle expenses is the cents per kilometre method).

I want nothing more than for the whole world to know everything about how their business and financial affairs work – but until then, it is Accountants and advisors such as myself who are here to help – please let us help you!

Regards