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

Business Computing – Windows or Mac

The classic rivalry, we all know the tension between people who use the mac and people who use windows, but for business is their even a competition? You would expect that windows would reign supreme in every industry due to apple being directed more towards personal use and windows purely ruling the areas for so long. But there is more to the picture; as technology and business as whole changes, so do companies processes and ‘norms’. By this, I mean that people aren’t simply running their business exactly how they did years ago.

Where technology is concerned however that is a lot of the applications and programs can now be done on either platform. This is mainly only for the larger commercialised applications rather than the ones that companies get custom made. This can be seen with software as a service (SaaS) systems, such as google docs, Gmail or Hotmail. SaaS makes it not matter which operating system you use as long as you can access the internet. So understanding that the decisions are more based on personal preference and other things like cost etc.

But still today it can be seen that in professions that are more based on design and creativity; apple products tend to be more prevalent. Whilst when numbers and words are considered, windows is the most desirable choice. It is up to you really to decide which device would end up best suiting your type of industry because who else knows what you do better than… YOU? Some people, however, tend to stick to what they know instead of even thinking about the change from one to another. They were brought up using either a mac or PC and they will tend to stay using that until either they are forced to change or they don’t change at all and have to suffer from any limitations. There are lots of different pros and cons for each system but the argument that you would have been used to hearing or even been a part of is changing, as both companies become more adaptive to market demands.

It can be seen first-hand where the design feature comes into business technology. Some retailers will decide to use apple computers purely because of how it might look in the store. It will add to the feel and layout of the space which makes sense; that is if it has all the relevant business point of sales systems on it. Also, tech industries will use windows based systems because it is easier to control the back end of computing processes.

Such differences that once used to be key argumentative points are now simply invalid. For example, people used to say that you can’t run “insert specific application here” on a Mac/PC! Whereas now, more and more companies and software creators realise the demand to have such programs be accessible and usable on either device is essential to survive as a business. Also with both platforms moving every day to improve and make more user-friendly designs and interfaces are making it harder and harder for people to simply pick one.

Although the two major competitors are getting more similar in some ways, they are also benefiting substantially from the key differences that make them stand out. Such differences include that Mac is less prone to virus and malware attacks but windows have more customizability in terms of hardware and software. In almost every tech industry and IT company, windows are the predominant player purely because of the areas of customizability. And when security is concerned software is simply installed to combat that area of difference. Similarly to that though people that don’t find the appeal of specs and tech tend to buy mac
Products due to how simple it is to do basic actions like browse the web, listen to music and edit photos. These types of people aren’t going to care to drastically about how much RAM it has or what resolution the screen is; as long as it does the things they need it to do.

With considerations going to a growth of the company, Windows is simply easier to change and adapt. This is both physically in terms of components and intangible in terms of networking and data storage. Businesses that require servers and large data storage centres will almost certainly need to run windows (or even Linux). This is because it terms of setting up such systems some applications don’t even exist on mac or aren’t easy or fast to navigate if they are.

These small but key factors of how they are different but also to why they are similar should all be considered when deciding which device your company would best suit. Either option may suit your industry and it could potentially be the smallest differences that are making your choice hard. Or you might have just been using one system over the other and have made your mind up even before reading this blog post and are fine with making sacrifices either way. But, knowing what you and your business need both now and down the track will allow you to effectively determine the most appropriate and relevant software and hardware in order to maximise efficiency and minimise costs.

Bookkeeping vs Accounting

Fundamental Aspects of Finance

Modern tendencies are prone to altering titles and adding more fundamental roles to each occupation. As human evolution expands and adapts, so does the plethora of tasks each occupation can attain. Bookkeeping and accounting, back in the day, seldom could tell each other apart. However, as we delve further into the techno-financial era these two terms have parted ways and have formed their own respective reputations and visions. Bookkeeping pursuits the process of recording daily transactions in a consistent way and is a key component to building a substantial business foundation. Accounting is a high-level process that makes sense of information previously compiled, and enriches financial models using that information. Here at Nudge we encompass both online accounting and online bookkeeping services to ensure our clients’ are always looked after!

On the one hand, the traditional yet effective method of bookkeeping. Bookkeeping has been around since the commencement of counting money. Online bookkeeping has only burst into the scene offering a structured and organised approach to recording financial transactions, posting debits and credits, producing invoices and even completing payrolls. The online feature allows for rapid and reliable bookkeeping services with the peace of mind that you are seeking from modern day bookkeeping firms. Preparation and organisation is vital when performing online bookkeeping tasks as sales tend to fluctuate, hence why our immaculate team here at Nudge Accounting have acquired the utmost finest technological infrastructure to attend to our clients needs, accurately.

On the other hand, the widely utilised term of online accounting. Accounting requires fundamental and concrete knowledge of finance. Accounting engulfs procedures that range from financial statement preparation for businesses, cost analysis of operations all the way to completion of tax income returns and even business management. The latter has become more and more popular in today’s day and age. 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.

A successful marriage between online bookkeeping and online 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. Reliability, honesty and efficiency are necessary attributes an online accountant has to acquire in today’s day and age and Nudge Accounting has them in abundance!

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

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

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.

How to benefit from the 2015 Budget as a small business

The basics of setting up a start-up
The Small Business Development Corporation (SBDC) stated that, “The cuts to both company and income tax for small businesses will improve the cashflow of businesses and encourage more investment and employment generation. It is anticipated that these measures will assist small businesses to fund organic growth through reduced reliance on external sources of funding and assist employers to attract and retain key staff given the ability to increase staff remuneration.”
 
The 2015 Federal Budget was the friendliest we’ve seen for small business in some time. The Growing Jobs and Small Business package includes $5 billion worth of tax relief and that is just the start of the benefits. Other measures that will impact small business include:
 

  • cutting the company tax rate to 28.5% for incorporated businesses with a turnover of under $2 million;
  • a 5% income tax cut for unincorporated businesses, capped at $1,000;
  • an immediate tax deduction for any individual assets costing less than $20,000;
  • Fringe Benefits Tax exemptions for work-related portable electronic devices (e.g. laptops and tablets);
  • rollover relief from Capital Gains Tax when businesses change legal structures;
  • expanded tax concessions for employee share schemes;
  • a streamlined business registration process;
  • the introduction of GST on digital products bought from foreign businesses (from 1 July 2017);
  • $1.2 billion in subsidies for employers that hire specific groups of job seekers (both youth and older workers); and
  • an extra $265.5 million for the Australian Tax Office to crack down on GST fraud

 
Subsidies, a cut in red tape, less tax and the creation of a more competitive playing field, means small business can capitalise in ways that weren’t previously tenable.
 
“Not only will there be much greater flexibility for wage subsidy arrangements to help with the upfront costs of hiring staff, a new wage subsidy will be available for employers specifically to take on parents who want to return to work,” says NSW Chamber of Commerce CEO, Stephen Cartwright.
 
Another way businesses can capitalize on the budget is to accelerate depreciation of asset purchases.
 
“Measures to accelerate depreciation of asset purchases are designed to encourage more investment by small business operators in new assets, in order to stimulate cashflow and growth, and encourage the creation of new jobs,” states the SBDC. “They are expected to make an immediate difference by encouraging small business operators to bring forward investment in their businesses. The measure also reduces red tape as small businesses will spend less time tracking assets across years for tax purposes.”
 
The proposed changes will also reduce the cost and complexity of starting a new business in addition to making it easier for start-ups and budding entrepreneurs. So if you have a small business idea, now is the best time to instigate it.
 
If you are a small business, sit down with your accountant and review current and projected levels of profitability. By planning your future goals you can work to invest in more assets, grow your business and in-turn employ additional staff.

5 tips for surviving a tax audit

Tax tips, tax, it expenses, startups, small business
The Australian Tax Office (ATO) picks a number of taxpayers each year to drag a fine-tooth comb through their expenses. The random nature of the selection process means a taxpayer never knows when they will be chosen for a tax audit, which may make surviving one quite difficult.

 

It is wise, then, to keep in mind that the ATO is automatically informed of the following sources of income: wages and salaries, subcontract payments, social security payments, interest received from financial institutions, dividends from companies and superannuation pay-outs.

 

If you are operating a business, you also need to be mindful of any significant divergence from past performance figures and those that diverge from industry average.

Here are 5 tips to surviving a tax audit.

    1. Make sure you your papers are in order

It sounds like you are going through an Eastern European checkpoint during the Cold War and it may feel like it too. However, if you have your documents in order you should have nothing to worry about. The ATO will send out blank substantiation schedules and you will be asked to list your substantiating documentation, including for any rebates you have claimed. If the ATO is feeling particularly prickly, they will audit the last three years of your life so it is best to have documentation, receipts and invoices for this period all filed neatly away and easily accessible.

    1. Keep the goods

In some cases you will have paid for hardware that you have claimed back on tax. Computers, stationery, clothes etc… While you don’t necessarily want to take the shirt from your back, the ATO will accept the actual goods as proof of your claim. If you have lost or thrown out the receipt, this is a great way to appease the tax office. You can also hunt down the shopkeeper and ask him to retrieve the receipt, but that is time consuming, a burden for everyone involved and used only as a last resort.

    1. Don’t underclaim and over purchase

Know what you can claim. Think about how bad it looks if you have only declared $50,000 in income, but you have purchased a car, house, yacht or holiday all in the same year. If you do this, red flags are raised and the auditor will examine all public records including vehicle registry, land titles and will no doubt find any areas of large-scale tax evasion. The bottom line for survival is: declare what you must.

    1. Prepare for the interview

When you are called into the tax office, you will be interrogated. Although you can take someone with you for support, you and you alone must answer all questions. If you recall what you have spent money on, what you have claimed, where your money has gone and your cash flow and revenues, you will survive. Of course knowing all of this information is akin to studying for an exam, but well preparedness will impress the auditor and show him or her that you are above board with your approach to the tax audit.

 

  1. Keep your calm

Keep your calm when being audited. The worst thing you can do is antagonise the auditor and the last thing you need is for the auditor to exact some form of revenge. If you have prepared your returns correctly, you will survive this imposition. The best way to prepare for a tax audit is to stay calm and be co-operative without conceding more than you have to.

 

Other points of note to keep you prepared:

 

  • Thoroughly evaluate your situation
  • Examine the authorisation of the auditor before allowing access to your premises
  • Supply the auditors with an office of their own
  • Insist that the auditors direct all questions to just one person
  • Record all interviews and discussions
  • Keep receipts for all expenses claimed
  • Don’t ignore the request for audit
  • Check the amended assessment

Why You Should Act on the Small Business Tax Write-off

Why You Should Act on the Small Business Tax Write-off

If you run a small to medium-sized enterprise (SME), you should be aware of the new small business tax write-off that has significantly raised the level of business purchases that are tax deductible.

Legislation confirming a $20,000 tax write-off for business-related items purchased after 7:30pm AEST on 12 May 2015 was passed on 15 June and will be valid until 30 June 2017. This is a hefty increase from the former write-off threshold of $1000.

All SMEs and sole traders will be eligible for the tax deduction if their business has an annual turnover of less than $2 million. This recent tax-deductible incentive was originally proposed in the 2015 federal budget to encourage SMEs to spend now and invest in growth. Depending on whether your purchases exceed the threshold, you should save more on your taxes if you spend on your investments sooner than later.

Any and all physical Items relating to the business may be deducted from tax, which excludes software and services such as marketing costs. The net worth of tax deductibles items must not exceed $20,000.

Company tax rates are also dropping from 30% to 28.5% from 1 July for entities with an aggregated turnover of under $2 million. This is the lowest small business tax rate in almost 50 years.

To take advantage of these recent changes, small businesses should bring their necessary expenditure forward and defer income to the 2016 tax year when possible, accounting for their cash flow position. During the 2015 financial year small businesses should maximise tax deductions and minimise income to secure the best position for their accounts.

For businesses looking for a sign to purchase new assets for your company, now is the time to take advantage of the current opportunities to save on tax-deductible asset purchases.

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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