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Welcome to Nudge Accounting, We have over 80+ years of expertise in accounting and bookkeeping services.
Online Bookkeeping & Accounting Services Nudge Accounting

Suite 139/243 Pyrmont Street, Pyrmont NSW 2009

Mon - Fri 9.00 AM - 6.00 PM (AEST)

Saturday, Sunday Closed

Hospitality Accounting

Bon voyage anyone?

The alluring manifestation of increasing hospitality services in today’s era is evident. The plethora of small bed and breakfast studios or immense multi-star hotel complexes are multiplying erratically. A resilient accounting team is always a preference since, fluctuating exchange rates, tight margins and increased regulation across the sector all have a significant impact on your business. Tourism tends to be a “hit-and-miss” industry. Exceptionally for small to medium enterprises. A wide range of accounting services are required to harmoniously blend in order to propel your hospitality business. Auditing, tax compliance, mergers & acquisitions, industry bench-marking analysis and many more…

Hospitality is by far one of the world’s most exciting and rewarding industries. Many a person tend to divert their career towards a path in hospitality. Lucrative yet delicate, the hospitality industry requires firm and versatile accounting knowledge! Nudge Accounting provide a solid accounting backbone to assist and organise the financial sectors of any tourism or hospitality business. Obtaining a formulated structure will help you improve the operating effectiveness of any restaurant, hotel, club, bar, or institutional facility you manage. Just as you learned in elementary school about the rule that says 1 + 1 always equals 2, accountants found in hospitality business have developed their own specialised rules and procedures that govern counting, recording, and summarizing financial transactions as well as analysing and reporting them.

However, let’s not confuse managing and accounting. Accounting is a tool used by good managers! It is vital to remain organised and stable in the hospitality realm. One false manoeuvre could send you back to the drawing board! Whenever a guest purchases a beverage, a meal or even a souvenir from your hotel you must have acquired the suitable team to document and organise listings, audits and weekly reports on all expenses and many more. Nudge Accounting are capable of reinvigorating your hospitality business providing performance management reporting, annual tax preparation and lodgements, monthly KPI’s, strategic tax and managerial approaching to cover a small spectrum of our immaculate services!

Wrapping up, the importance of a structured and systemised accounting backbone is essential for the blossoming of a business in the hospitality region. Dealing with a numerous amount of clients in such a vigourous environment can be a daunting task. Nevertheless, Nudge Accounting is here to enlighten you on how to manage and arrange your business without missing a penny!


Hospitality Accounting

E-commerce Accounting

Is it all online?

 

Rapid and eccentric technological flourishment has deemed a variety of businesses, unsuitable to continue performing at an optimal level. Upgraded methods of product distribution, manipulated financial requirements and usage of “smart” devices propel e-commerce websites and companies to succeed, whilst deteriorating and disintegrating retro-minded and regressive businesses. As the accounting software, Xero, states : “Time is real money and e-commerce selling is not an art, but science!”

 

What does the poet mean? Science? It is all facts and numbers in the end. By utilising and administering an e-commerce structured company, you ascertain an accurate understanding of cash-flow and profitability, with constant reporting and progress updates. Furthermore, our exceptional accounting team is equipped with the utmost sophisticated accounting platforms that integrate exquisitely with your product data. These adept methodologies ensure precise monitoring and product management. In addition, an accounting touch in an e-commerce environment offers scalability to organise your bookkeeping needs. It’s a win-win situation!

 

Think of your e-commerce business like an immense 24 hour 7 day a week shopping plaza, available to a couple million people browsing the internet right now. Without the appropriate accounting backbone you are most likely going to crumble and kneel down to the organisation and determination of competitors. Nudge Accounting are proud to utilise Xero as their e-commerce accounting software. Accounting these days plays a pivotal role with channels like Ebay, Amazon, WooCommerce and so on… Nudge Accounting ensures, professionalism, respectability and organisation of your small to medium businesses needs. With a 24 hour store front, you require the finest accounting firm with leading software and devoted accountants!

 

Fortunately, or unfortunately, technology and accounting procedures are racing into futuristic methodologies. Nudge Accounting ensures that our adept accounting team have the necessary qualifications to adhere and comprehend these changes, offering your e-commerce business the financial organisation it requires. When you emit an abundance of information about your e-commerce business, we are here to provide a solid backbone regarding all your financial needs. Nudge Accounting – quality and reliability!

E-commerce

Xero and functionality

Xero all the way!


With the rapid expansion and enlargement of technological procedures, which have been integrated into the financial and accounting realm, it is vital online accounting companies allocate and contribute their time on a software that is striving for prosperity! Xero, with its avant-garde admission into the technological and online accounting systems has surely made a name for itself, by providing a variety of functions all wrapped up with a user-friendly interface suitable for the majority of users and business owners.


Here at Nudge Accounting, we take pride in utilising Xero as a financial management apparatus for all our exceptional clientele. This ensures fluidity, accuracy and precision with accounting procedures, as well as meticulous document organisation and filing of important documentation and accounting statements. With Xero, the opportunities are endless! Having the ability to constantly track and record your cash flow, invoice clients with ease and efficiency, processing and demanding payments carefully you lay the accounting foundations for your business to flourish upon!


Xero is characterised by its diversity and ingenuity. Granting you the ability to keep constant contact with employees and staff members is vital for the inflation of any small to medium business. You have a clear overview of your current financial position, in real-time. This enables you to make rigorous decisions that will always be beneficial for the escalation of your company. Analysing potential financial targets and meeting them with satisfaction and fulfilment is what Nudge Accounting endeavour to administer to our clients, by utilising the adroit technological software that is Xero.


From its monumental launch in 2013, Xero has proven itself as the leading accounting management software for small to medium sized businesses. Statistical rankings from around the globe depict that Xero is in the top 5 most accurate, unequivocal and clear-cut accounting management tools, with a “whopping” first place for billing and invoicing services. Xero also possess the ability to integrate with a variety of third-party apps commonly used by small businesses, such as a variety of client management systems. Data flows directly into the Xero ledger, removing the time and effort required for manual data entry. Ease and excellence!


Nudge Accounting is jubilant and portray the capabilities of Xero on a regular basis, by utilising and evolving small to medium business, every day! Let’s not bypass Xero’s astonishing design components that provide that touch of perfection and ties up the overall greatness and exceptional functionality this accounting software has to offer!


Xero

Your Work-Related Travel Expenses Can Lead To A Healthier Tax Refund

Tax tips, tax, it expenses, startups, small business
Employees can incur substantial work-related travel expenses. This is almost unavoidable given the nature of personal business transactions and the importance of outbound client management. These travel expenses can, however, boost your tax refund with some big tax deduction claims!

Of course, if your employer has already reimbursed you, you cannot claim! Though if the claim is up to you, be sure to follow this guide.

Work related travel expenses refer to any travel related expense that directly relates to your specific job function. Depending on your circumstances, and provided you have the necessary documentation, you can claim the cost of transport, incidentals and even meals if you were away overnight!

Travel expenses you can claim on your tax return under item D2 can include:

  • Accommodation
  • Incidental expenses
  • Air, bus, train and taxi fares
  • Bridge and road tolls
  • Parking fees
  • Car hire charges
  • Meals (if your travel included an overnight stay)

To claim any work travel expenses, your travel must be specifically work-related. Taxi, bus, train and rental car expenses are tax deductible if you travel for work purposes.

Keep a travel diary to support your claim, particularly if your work trip goes overnight or longer. If you don’t have a travel diary you can download a travel diary template from etax.

You can also claim the cost of travel between two different workplaces. These rules apply whether you travel by train, bus, taxi or your own private vehicle.

Do not under any circumstances forget the golden rule – keep your receipts!

For more information on tracking your expenses, or claiming tax deductions, please visit nudgeaccounting.com.au or call 1300 068 343.

Business Activity Statement (BAS) returns

The basics of setting up a start-up
Whether you are a small business operator or just starting up, you often find yourself flat out running the daily business operations and focusing on the bottom line to spend any time thinking about ATO requirements.
 
Knowing and addressing these tax requirements can be difficult. At Nudge, our Chartered Accountants look after your small business accounting needs including GST and BAS lodgement, making it easy for you to focus on what’s important to you – running a successful business.
 
Put simply, the BAS return is a by-product of the GST. It is the difference between GST collected (for customers) and GST paid (to suppliers).
 
Your BAS is used for reporting (where applicable) on a range of tax obligations including:

  • Goods and Services Tax (GST)
  • Luxury Car Tax (LCT)
  • Fuel tax credits
  • Wine Equalisation Tax (WET)
  • Pay-As-You-Go (PAYG) withholding and instalments
  • Fringe Benefits Tax (FBT) instalments, and
  • Deferred company instalments

 
The overall aim of the BAS is to allow you to report and pay a number of tax obligations in one transaction.
 
All businesses who are registered for GST must lodge a BAS for each period (monthly or quarterly). As part of our featured services we lodge your BAS quarterly on the following dates:
 

 Quarter  Due date
 1 – July, August and September  28 October
 2 – October, November, and December  28 February
 3 – January, February and March  28 April
 4 – April, May and June  28 July

 
The benefits of using a qualified Nudge Chartered Accountant to lodge your BAS form for you are limitless. We know all the requirements and will help you maximise your deductions, meet your commitments on time and provide constant support if you have any questions or concerns.
  
References

Australian Government (2015) Reporting activity statements
ATO (2015) Due dates for lodging and paying your BAS

How we spend our well-deserved Tax Refund

Tax tips, tax, it expenses, startups, small business
Once you have lodged your tax return, refunds are usually issued within 12 business days when lodged online, or up to 50 business days if lodged with an accountant offline.
 
On average, Australian’s receive a tax refund of $3,630. But what do we do with it? The Australian Taxation Office (ATO) reports that in 2014/2015 Australians spent their tax refund in the following way; 31% of people saved it, 29% paid off a loan, credit card or mortgage, 24% paid bills, 7% went on holiday, 7% spent it on other things, and 2% spent it on household appliances. Continue reading “How we spend our well-deserved Tax Refund”

Are your employees eligible for super payments?

The basics of setting up a start-up
Superannuation can be quite complicated. In essence employers must pay 9.5% of each eligible worker’s ordinary time earnings each quarter. According to the Australian Tax Office, ordinary time earnings (OTE) is usually the amount your employee earns for their ordinary hours of work. It includes things like commissions, shift loadings and allowances, but doesn’t include overtime payments. Continue reading “Are your employees eligible for super payments?”

The law behind tax effective investing

Tax tips, tax, it expenses, startups, small business
Managing your financial affairs to minimise your tax is commonly known as tax planning or tax effective investing.

Taxpayers are legally allowed to minimise their taxation liabilities through tax planning as long as it is done within the spirit and letter of the law. Tax law is intricate and thus a fluent understanding of the law is required if you wish maximise your investment strategy with out breaching the law or by becoming involved in a tax avoidance scheme that could result in you receiving severe penalties. Continue reading “The law behind tax effective investing”

Are you claiming all your tax offsets?

Tax tips, tax, it expenses, startups, small business
Tax is confusing at the best of times. No matter how much the ATO try to simplify things, there are always hidden deductions, offsets, rules and regulations. So how do you know what to claim and offset? Often it’s best to talk to your accountant, but here is a quick guide to help you make sense of your tax rebates.
Tax rebates or offsets directly reduce the amount of tax payable on your taxable income. In general, offsets can reduce your tax payable to zero, but on their own they can’t get you a refund.
There are several offset categories from which you can claim and you will generally fit into one of these. The categories are:

  • Receipt of government benefits
  • Dependents
  • Health insurance
  • Medical expenses
  • Senior Australian and pensioner allowances
  • Super related tax offsets
  • Low-income earners
  • Zones and overseas forces

 
Let’s take a look at each individual category.
 
Receipt of government benefits
The beneficiary tax offset is available if you receive certain Australian Government allowances and payments.
No tax is paid if you:

  • receive any of the qualifying benefits and allowances, and
  • have no other taxable income

 
Any assessable income that you receive beyond these benefits may require some tax to be paid. To claim the offset, declare the payment you receive at the correct item on your tax return.
 
Dependents

There are several offsets within this category. You may be entitled to a tax offset if you maintained your:

  • spouse
  • child or sibling aged 16 years or older
  • spouse’s child or sibling aged 16 years or older
  • parent, or spouse’s parent if they are an invalid or carer

 
For more information about what constitutes an invalid or carer please go to the ato.gov.au website.
 
Health insurance
Entitlements to a private health insurance rebate or tax offset depend on your income level. The amount of private health insurance rebate you are entitled to receive is reduced if your income is more than a certain amount. You can claim your private health insurance rebate as a:

  • premium reduction, which lowers the policy price charged by your insurer
  • refundable tax offset through your tax return

 
Medical expenses

As the ATO states, net medical expenses are your total medical expenses minus refunds from Medicare and private health insurers that you, or someone else, received or are entitled to receive.
The net medical expenses tax offset is being phased out.
To be eligible to claim the offset in your 2014-15 income tax return, you must have either:

  • received the offset on your 2012-13 and 2013-14 income tax assessment (the final year you can claim is 2014-15), or
  • paid for medical expenses relating to disability aids, attendant care or aged care (people with these expenses can continue to claim until 1 July 2019)

 
You may not be eligible to receive the medical expenses offset if other tax offsets have reduced your tax payable to zero.
 
This offset is income tested. If you are eligible for the offset, the percentage of net medical expenses you can claim is determined by your adjusted taxable income and family status.
 
Senior Australians
Senior Australians may be eligible for the seniors and pensioners tax offset (SAPTO).
SAPTO can reduce the amount of tax this demographic is liable to pay. In some cases, this offset may reduce your tax liability to zero and you may not have to lodge a tax return.
Eligibility is based on conditions relating to your income and eligibility for an Australian Government pension. You must meet the age requirement for the Age pension to be eligible for the offset.
In some cases, you may also be able to transfer your eligible spouse’s unused SAPTO to you.
 
Super related tax offsets
The two super-related tax offsets for which you may be eligible are:

  • Australian super income stream tax offset
  • Tax offset for super contributions on behalf of your spouse

 
The first offset occurs if you receive income from an Australian super income stream. If this is the case you may be entitled to a tax offset equal to:

  • 15% of the taxed element, or
  • 10% of the untaxed element

 
The offset amount available to you will be shown on your payment summary.
 
You’re not entitled to a tax offset for the taxed element of any super income stream you receive before you turn 55 years old unless the super income stream is either a:

  • disability super benefit, or
  • death benefit income stream

 
You’re not entitled to a tax offset for the untaxed element of any super income stream you receive before you turn 60 years old unless:

  • the super income stream is a death benefit income stream; and
  • the deceased died after they turned 60 years old

 
To receive the offset for super contributions on behalf of your spouse you must make contributions to a complying superannuation fund or a retirement savings account on behalf of your spouse (married or de facto) who is earning a low income or not working.
 
You will be entitled to a tax offset of up to $540 per year if you meet all of the following conditions:

  • the sum of your spouse’s assessable income, total reportable fringe benefits amounts and reportable employer super contributions was less than $13,800
  • the contributions were not deductible to you
  • the contributions were made to a super fund that was a complying super fund for the income year in which you made the contribution
  • both you and your spouse were Australian residents when the contributions were made
  • when making the contributions you and your spouse were not living separately and apart on a permanent basis

 
Low-income earners
If you are a low-income earner, or work part-time, the ATO will work out the offset amount for you.
 
Zones and overseas forces
Zone tax offset

You must have lived or worked in a remote area (not necessarily continuously) for:

  • 183 days or more during the current income year; or
  • 183 days or more in total during the current and previous income years – but less than 183 days in the current year and less than 183 days in the previous income year, and you did not claim a zone tax offset in your previous year’s tax return

 
If you lived in a zone for less than 183 days in the current income year, you may still be able to claim a tax offset as long as you lived in a zone for a continuous period of less than five years and:

  • you were unable to claim in the first year because you lived there less than 183 days; and
  • the total of the days you lived there in the first year and in the current year is 183 or more

 
Overseas forces tax offset

You may be eligible for an overseas forces tax offset if you serve in a specified overseas locality as a member of one of the following:

  • Australian Defence Force
  • Australian Federal Police, or
  • United Nations Armed Forces, and income relating to that service is not specifically exempt from tax

 
This is a basic offset guide, based on information provided by the ATO. For a more comprehensive guide to offsets, you should speak with your accountant or spend some time further investigating the ATO’s website.

The Future of Online Accounting

The Future of Online Accounting
The increase in the number of online accountants seems to have has coincided with the elevation of online software. As such, small business accounting is as efficient as it has ever been.

 

There are several reasons for the rise of online accounting services. In a world where ease of use is a necessity not a luxury, it seems the simple nature of online accounting platforms employed by accountants has genuine appeal.

 

For instance, online accounting firms make the hassle of paperwork a distant memory by providing a simple online uploading system. You can lodge all of your documents by scanning them in or using your smartphone. You can then leave the rest to your online accountant.

 

Take Nudge for example. Once you have sent your documents through, we crunch the numbers, prepare the paperwork and lodge it on your behalf. When that is done we send you an ongoing monthly statement of your business performance. As the meerkat says, it’s “simples!”

 

Online accounting provides time poor businesses with a contemporary and affordable financial management system. It takes the time constraints of paperwork (sometimes poor paperwork that has to be done again) away from less experienced employees or bookkeepers who should be focusing on running their departments and dealing with staff, customers or stakeholders. It allows business owners to wipe their brow and focus on growth.

 

A further benefit of the online accounting model is the fixed fee structure. With online accounting you know the services you will receive for the price you have paid. There are different fee structures for the level of service you require, but again we live in a world where ease of use and transparency is a major caveat as to whether goods and services are purchased or not.

 

The future lies in a world where there are no appointments, flat fee structures, and any time, anywhere services.

 

It doesn’t matter whether the service or product is tea, tapware, telecommunications or accounting, there is an inbuilt need for online services. And with today’s technologies, there is no excuse for poor online experiences.

 

There is no expectation that traditional accounting will disappear, but as time-poor people look for ways to reduce stress and alleviate any business burden that can be outsourced, there will be an even bigger shift towards the delivery of online accounting.

We Are E.S.T. 2012

Who WE Are

At Nudge, we do it all for your small business: bookkeeping, accounting and tax. we can also help you with tax advice, company setups, personal tax, monthly performance summaries and specialist advice for small business owners. All work is completed by Aussie Accountants so you’ll never have to worry about compliance again.

Nudge Accounting
100% Online Accounting
Nudge Accounting
FREE Business Health Check
Nudge Accounting
Scalable Pricing Packages
Nudge Accounting
Easy Signup Process
Nudge Accounting
XERO Integration
Nudge Accounting
100% Satisfaction Guaranteed

TESTIMONIALS

OUR COMPANY

OUR COMPANY Quality

With the uprising of technology and the plethora of competition in the majority of industries, business owners tend to seek help and assistance in managing and tailoring their business to suit the era’s needs and expectations. The process of accounting provides reports that bring key financial indicators together. Understanding financial concepts and gearing clients to financial success is what we exceed at here at Nudge Accounting. Our expertise lingers throughout the field of online accounting and engulfs all financial cases. With years of extensive experience and a dedication for our clients success, we endeavour to evolve our existing methodologies, in order to transform into Australia’s leading online financial firm.

OUR COMPANY Commitment

A successful marriage between bookkeeping and accounting will contribute to the long-term financial success of any business. Nudge Accounting takes pride with their online bookkeeping and online accounting services that encompass all aspects and sectors of finance to ensure our clients receive the utmost finest service. Commitment is an attribute we stand for as client satisfaction is always key to evolution. Our reliability is second to none, as we ensure our clients are well organised and pursuit their financial tasks with accuracy and precision. Nudge Accounting propelled their excellence and with their dynamic team of online accounting professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.

OUR COMPANY Success

Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. This is what portrays our excellence and gears Nudge Accounting towards success. We ensure client satisfaction, by going through all the details and explaining financial situations to our clients. Engaging the client is what makes us stand out! Online accounting software, combined with online accounting techniques is a much more effective procedure than filling out paperwork because half the work is already done for you! Nudge Accounting take pride in providing the utmost finest online accounting service across Australia, with a variety of small to medium businesses and accounting excellence, technology and Nudge go hand in hand, just like the glove fits the hand!

WE HELPING SMALL BUSINESSES

Nudge provide exceptional accounting service and support whilst remaining price competitive. All of our packages provide the same great features for your small business accounting needs, which includes:

  • Performance Management Reporting
  • Annual Tax Return Preparation and Lodgements
  • Annual Financial Statements
  • Financial Monthly Statements
  • QTR BAS Preparation and Lodgements
  • Monthly KPI's to Identify Improvement Areas
80
YEARS OF
EXPERIENCES
$250m
UNDER MANAGEMENT
REVENUE
$150m
TOTAL
ASSETS
100
% SECURE
CLOUD STORAGE

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