Even though it’s official name is now Reckon…it will always be QuickBooks to me…a bit like a PAYG Payment Summary will always be a Group Certificate (but that’s another story)!

QuickBooks is one of my all time favourite accounting programs to use with clients.  It’s simple enough to learn and easy enough for an accountant to amend transactions when required.  It also utilises a good ‘ole double entry accounting system…sorry for the geek talk…!?

The QuickBooks/Reckon family includes a whole suite of products so you are bound to find something that suits your needs.

But that’s not to say I think it’s the only good program out there…because that is simply not the case!

MYOB has been another favourite of mine, but usually only recommended for clients who have a more substantial understanding of bookkeeping processes and procedures – in fact I was lucky enough to teach a group of Diploma of Accounting students at the local TAFE late last year in “Computerised Accounting”…the program was MYOB…I hope they’ve been able to put their new skills to good use!

And of course the buzz name at the moment is Xero – I’ve been doing some research and it looks like a great tool also – fully integrated including payroll, and in the cloud – it could be a winner…but more on that in a later post.

Whatever record keeping system you use, please make sure you take the time to learn it properly, and understand the impact of processing transactions.

If you are unsure, contact your Accountant…or Our Partner for a consultation.

Regards

Pashmina? “That’s a strange topic”…I hear you say!

It’s no secret to those who know me that I love to shop – for myself and for others!  I am “chief present buyer” (if there is such a title) in my family…and a resource to be used by family and friends…as I found out recently!

A couple of weeks ago I was contacted by a friend to see if I had a black pashmina she could borrow for a function – honestly, my black pashmina is starting to look a bit shabby (can you sense a shopping expedition coming up?) but I was able to e-mail her a link to one that would be suitable, the whole process took less than five minutes because I knew exactly what she needed and where she could find it! (here’s the link in case you are curious – great value and a great range of colours – I have four!)

That reminded me of another experience a few months back when a friend with two young children needed a “child proof” outfit for the races…in the space of two text messages I was able to ascertain what she would be comfortable wearing and point her in the direction of two local stores who had exactly what she needed in stock – easy peasy!

Both of these friends responded in a similar manner…”I just knew you were the right person to ask“…

Satisfaction at being able to help my friends with “non-accounting” type things…and justification for searching the internet and wandering through the shops on a regular basis…makes it all worth while!

Do you have any talents you are known for other than your “usual job”?

Regards

If you’ve read about Who is the Tax Chic, you’ll know that I spent some time living in Alice Springs (AKA…The Outback) early in my accounting career.

As I was graduating from University, our country was still recovering from the recession and full time graduate accounting roles were not exactly abundant.

I remember receiving the phone call to say I had the job in Alice Springs and ringing my Mum to tell her…I was in tears (both joyful at having my first job… and distressed at having to move so far away from home), needless to say we were both in tears after I gave her my news.

Nevertheless the whole family packed my belongings into our two cars and off we set.

Little did I know, the experiences I had would stay with me for a lifetime – back in those days there were no speed limits in the Outback…so travelling to conduct audit work from Alice Springs to Tennant Creek (approx. 510kms) took no time at all – and on one occasion we worked out that it was cheaper to charter a mail plane to fly me to Docker River (near the Western Australia border), and return me on the same day, than it was to have me out of the office for a full three days (the amount of time it would have taken for a return driving trip)…all so I could count some things!

You certainly don’t get these experiences in “the city”.

To anyone contemplating a change of environment, be it a sea change, a tree change or a desert change…have a go!  You can always come back if it doesn’t work out how you expect!

Regards

Numbers, numbers, numbers – it’s safe to say I LOVE numbers!

As a business owner or taxpayer, you have your own numbers you have to remember and deal with…think Australian Business Number (ABN), Australian Company Number (ACN) and Tax File Number (TFN) to name a few.

Add to that bank account and credit card numbers, registration, membership and subscription numbers, account numbers for gas, electricity, telephone, internet and every invoice it is possible to receive…It’s enough to drive you nuts!

But today I want to focus on the Australian Business Number or ABN (not to be confused with ABN Number…some of my friends will get that reference!)

The ABN is a unique identifier issued by the Australian Business Register (ABR) which is maintained by the Australian Taxation Office (ATO).

While the rules are quite specific, in essence, an entity carrying on an enterprise in Australia is required to have an ABN.

As a business or a consumer, you can check the ABN details, as well as GST (Goods and Services Tax) and DGR (Deductible Gift Recipient) status of a business or entity, by using the ABN Lookup tool.

Unsure if you need an ABN? Read about ABN Entitlement here, or contact Our Partner for a consultation.

Regards