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

How Much Should You Pay Yourself?

How much should you Pay Yourself?
Owning your own business has its benefits, controlling how much to pay yourself is exciting but it need careful consideration so that you’re not getting too little and you’re not getting to much so that your business struggles. Before you pay yourself 90% of a big deal you just made and purchase a new car like many of us would love to do, you need to consider many aspects with regards to your company. Taxes, wages, overheads and overall growth need to be calculated into the payment schedule so that value for money is being received on all avenues.

Grow Your Business
If you have just made this big deal or lots or little sales and cash flow is very positive; having the ability to decide the financial future of your business will be empowering, but understanding how to correctly invest such profits will separate the good and the bad managers and entrepreneurs. Now, consider the benefits and negatives of using majority of the money and where that money would go into growing an area of the business.

Investing more equals making more. How much do you want?

If you have made the correct decision to not pay yourself the entirety of your profits, decide now which aspects you want to invest and promote growth. One of the main benefits if you haven’t yet realised is that if the money you invested contributes positively, there will be more opportunities to pay yourself more and more and invest more and more.

Give Yourself a Wage
Develop for yourself as a manger and founder the correct amount per week/fortnight/month to pay yourself. Having a consistent amount will enable a particular living standard and will accurately reflect the accounts in regards to sustainable and manageable cash flow. Having an easily controllable and forecastable cash flow will also give you the chance to make educated managerial decisions to protect your investment.

What are You worth?

Do some research into your industry; look at similar jobs and markets within to develop an understanding of what ‘in the ball park of’ amount you should be getting paid. Consider the responsibility, roles and tasks you undertake on the daily with regards to the average you are getting paid and also the current financial strength of your company.

Fair is fair
Making sure you have determined how much your ‘worth’ by analysing similar roles in your industry or calculating your time and expenses etc. will benefit both the company and you personally. A ‘Fair’ Payment plan will also consider the others in your business. For example; Paying yourself 80% of profits and leaving your next in charge on the minimum wage will almost always result is a resignation, unless your next in charge loves minimum wage… in that case what are their contact details?

Fair and Square

The idea of positive, corporate environment is orientated around a respectful and understanding workplace. Having an equal and fair payment regime is but one step in a larger picture but it is important never the less. This doesn’t mean that the CEO should be getting payed the same amount as the intern! This simply means that if the business is highly profitable everyone is getting paid accordingly and if the business is doing poorly then the CEO isn’t withdrawing massive amounts of money.

So 90% right?
There are many considerations that need to be analysed and understood when making the ultimate decision. The understanding of all these key areas will enable the most educated and calculated of choices that will, In the long term, profit you more as your business growths than it would if you were to withdraw majority of your profits right away. That being said perhaps doesn’t buy your new car just yet, rather, wait until you can confidently purchase it yourself without the need for your business backing you and putting itself into deficit.

Are You Costing Your Business Money?

Have you started or work at a small business? Do you spend the company’s money on your own expenses or purchases? It is easy to do! Businesses and their owners must separate themselves in order to succeed in the long run. Boundaries and limitations must be established and maintained to ensure a financially strong future for both yourself and your business.
The importance of erecting a ‘wall’ between owner and business with regards to money is orientated around the mindset of ownership. Some people think that just because “I can control the finances, I decide where to spend them” that this is a justification of personal needs. No your tech company didn’t need 2 boxes of doughnuts for you personally to take home; it needs wages, suppliers and rent paid to name a few expenses.

It can be easy to just “chuck it on the company card” instead of paying out of your pocket but managers will soon realise the impacts of such a decision. Over time small purchases will snowball into considerably larger ‘dents’ in the budget that can and will negatively impact the financial security of the company.
Accounting difficulty is an area of concern when mixing payments also; separating personal and business expenses to determine the most tax is returned is harder when the purchases are mixed. Lunch with clients may be overlooked when there are multiple other similar purchases that where bought personally.
Separation from owner to company ensures areas such as risk, are separated. If your business under a worst case scenario goes under, you are separated and cannot be financially liable.

Ways to ensure separation
1. Banking accounts should be created under a business account and payments for the business shouldn’t be done from your own personal account and vice versa. This is unless you are investing your own money into your business; adding capital to your businesses accounts should be done to fund and develop growth. Where at which point you can be paid back that amount.

2. Organisation may seem simple, but most small business owners tend to either accidently or not, mix personal and business bills and records. An organised filing system with the accounts being separated and prioritised may make all the difference for people trying to maintain their company finances.

3. Paying yourself a salary and not just pulling out money when you need it will make sure that official separation is guaranteed. Having a clear payment schedule will enable you as a manager you understand and maintain, a clear and manageable budget; which will allows from proper valuation of business to be attained and also make you simply forecast your own personal accounts and the businesses records far more simply.

The benefits
An organised financial system either online or by way of physical paper storage will assist not only at tax time and end of the financial year but also through day to day processers. Owners and managers need to understand quickly the current and potential future standpoint for the business in order to make the most accurate decisions. Finance being one of the most important areas if not the most important needs to be taking with complete seriousness. This is why a clear distinction between owner and company should be incorporated from the beginning.

Enabling these simple steps and processes within your small business can build the hypothetical wall between yourself and your company; which will enable you as the manager or owner to confidently control your finances to establish a clear line. The boundary set will establish the clear distinction that both you and the tax office can easily understand while profiting in both financial and knowledgeable decisions as the company grows.

How Can Growth Be Bad?

Two-thirds of fast growing small businesses fail due to their inability to keep up with rapid growth, many start-ups don’t realise what it takes to have more of demand than they do of supply. Due to this imbalance, new managers find themselves struggling to balance existing jobs they had, with new ones attributed to the success of their product or brand. At first, hearing growth as something that could potentially be negative, is just about laughable, but it is a real world scenario that affects businesses of today, every day, and it’s important to recognise and plan for just in case.

Care about the Customers … Always

If there is an un-forecasted amount of customers that appear either in store or online, this can potentially back lash due to businesses having to turn customers away, which in some scenarios may cause them to not come back when there is stock. Depending on the customer and the type of product, Consumers may not want to wait, in some cases they will just go to your main competitor; which is pretty much the worst case scenario for any of us. While companies expand and grow, to maintain a focus on “what the consumer wants” is essential in keeping them. It will become tempting to become distracted in the inner workings of the business as it changes and as roles become more diverse. Consumers will realise that they perhaps aren’t being as well looked after as they could be, they will also begin to perhaps, neglect their previous loyalty and consider alternatives.

Hire for the Future Not for the Present

Maintaining and developing the team, environment and culture that your business has worked had to make is essential. Hiring new staff under the pump can cause for some failure, your time constraints may make you short-sighted or needy. By this, I mean that if your hiring for “now” instead of “forever” applications may be selected that may not be the best fit for the business. Selecting potential candidates may become a large issue due to the time it takes to read applications, call, interview and then to train them after the fact. In the circumstances that the wrong applicant is appointed the role in a rush, He or she may contradict what the business reflects and do more harm than good. Also, the costs involved with hiring, training and re-hiring are astronomical with regards to not just money but time; time that could be used on literally anything else. These reasons and more exemplify why choosing the right person for the job the first time can be the pivotal point in whether you will succeed or not.

Communication or Lack There Of

Some managers find it difficult to effectively communicate roles and tasks, even the ones who deny it sometimes may miscommunicate some things, and for many of us, we have been on the receiving end. This scenario is magnified when pressure to do with time and responsibility is added on both parts of employers and employees. Maintaining a steady and constant flow of communication is integral for the inner workings of businesses to develop and maintain the business as a whole. Benefits range from a growing productive space all the way to, a strong diverse overall environment.

Understanding some of these key elements should enable you as a small business owner to maintain and control growth for the long term. Appreciating customers and controlling main managerial roles will set up your business for the present as well as the future effectively.

Appreciate your Depreciation

If your new to business and don’t understand what depreciation is exactly, then briefly; Depreciation is a reduction in value of an asset over time usually caused to wear and tear. We understand how boring it might sound but stay with me; the main reasons a business should depreciate assets is so that the correct valuation is given according to their worth in the accounting books, which ensures an accurate representation of the company. It is important to understand the worth of your company for many reasons but mainly so that you can accurately track growth, in order to see where it has come and where it is going. Depreciation is one of many aspects that need to be considered and should only be done to fixed assets though, which means property, plant and equipment (PP&E) and not done to inventory.

Fixed assets or PP&E involve but are not limited to, machinery, technology, vehicles and buildings. The assets that are vital to the business but cannot be easily liquidated. On the circumstances that particular businesses sell products like cars or computers, then they are not considered assets, they are the inventory the company purchases to then sell. Essentially it is what your business ‘uses’ but does not ‘Sell.’

In order to fully understand all the elements involved in correctly depreciating your equipment, let’s say that your business purchased a computer for $2000, and now let’s say that its useful life was estimated at 4 years and the salvage cost (how much it is worth after four years to sell) is $200. Salvage cost is deducted off the total purchase price to show worth after full depreciation and can equal $0. This means that every year, depreciation for the computer would be $450, considering a straight line depreciation method. This is up until the end of the fourth year where depreciation would then equal $0. For the sake of the example, let’s say the computer was still working up to standard at the end of the four years. On accounting balance sheets, after the asset has fully depreciated it is effectively shown as $200 within (PP&E) because of how much it is still worth if it is sold. The object is never taken off the balance sheet while it remains part of the business, unless the business sells it.

Depreciation is just a rough estimate on how long the useful life of a product is; these estimates have to be done though in accordance to the ‘Internal revenue service’ (IRS) rules. The Australian tax office (ATO) has an online calculator to assist in determining the depreciation of assets. Decline in value calculator

Okay so Why Do I Care about Depreciation?

For your small or starter business, having organised and accurate calculations of company worth will allow you to understand development and specific areas of growth or potential threats which will only benefit managerial decisions. Potential managerial decisions that when considering the financial future of the business, will ultimately determine whether the company succeeds or thrives. But please don’t understand from this that depreciation is the ultimate account tool that determines all avenues of the finance sector, Depreciation is mealy a small cog in the machine of your business accounts that inevitably contributes to majority of daily decisions.

Nudge – What is the Cloud and how can your Business use it?

If there is one thing to understand it’s that most importantly, the ‘cloud’ isn’t a physical object or location. The ‘Cloud’ is the term given to online resource locations, server centres for example that offer web based services. The benefits for such services range from storage, back up and security, to the application and sharing of applications and programs online. When recognising the potential for such an easily accessible service, Low cost’s is one of the main factors that people recognise when researching potential cloud operations. Starter and small business’s need to incorporate the methods and technology into their day to day processes in order to maximise productivity and work flow.

Storage/back up –

Storage and having multiple back up’s is vastly important both in personal and organisational computing. Preparation and risk minimisation is orientated around recognising and preventing any potential data or information loss. If in the scenario that you or your business had all of its important information located on one computer or hard drive, and there was a theft, disaster or even a computer malfunction that caused the loss of such sensitive data. The costs in time and money to potentially recover files that might never be recovered is enormous compared to the time it takes to simple make another copy on a web based server.

There are countless examples of why backing up and transferring information to web based servers is the best option. And then twice as many people who have a bad story about losing a lot of sensitive information whether it be through computer or human error. Businesses that sooner or later recognise the storage and back up importance to their business processes will benefit in areas of time, money and effort.

Security and safety –

Reputable Cloud computing vendors, reinforce ideals of security and data isolation. This perpetuates a safe and reliable environment where information and data is accessible from any location that offers internet accessibility. With users who are authorised to access the information only being able to access view and contribute to it. The Cloud’s constantly auto saving format reinforces to the users and clients that if there was to be an issue with physical computing or human error, the files and work done would not be changed, damaged or deleted.
One of the main factors with regards to security is that of authorisation. People who have the authorisation, to contribute and view information are the only ones that can do so. Human errors don’t play a factor unless the web based information is left open on computing devices for over lookers to see.

Applications –

The Cloud also offers programs and software to be hosted at server centres and external locations to the user so that all the clouds benefits can be encompassed. Web based applications and software are browser orientated programs that run over the internet (Cloud). Many of you will already be using such a service, if you use a Gmail or a Hotmail emailing account, that is a web based application that is dependent on internet connection. This type of software is beneficial for many reasons, mainly users don’t have to install or upgrade the program on a regular basis, and real time updates are done at the source. Another reason that web basing processes are beneficial is due to safety and reliability; real time saving of data is done as words are added and taken away every time a change is made. This means that if there is a computing issue on the user’s end, wear it be the computer powered down or stopped for whatever reason, the information contributed is saved and not lost, it is effectively uploaded to the cloud.

Nudge uses this method of software for your accounts, so that all avenues are covered in consideration for accountability and reliability. We recognise, the key elements involved in cloud computing and how businesses of today process timely information over internet resource’s like the cloud. Nudge contributes to the developing and emerging companies by providing them with the services and accounts they need over such cloud computing avenues that reinforce secure, fast web based services and applications. This provides the managers and founders to focus on developing their products and services and without the stress of sensitive information being lost or stolen.

Where Does Nudge Accounting Fit

Nudge Accounting is a provider of an online accounting solution for new and small businesses. The type that requires a simple monthly payment that is custom chosen by your business to provide you with the data and information that is supplied on a regular basis. Nudge reinforces attributes of security, reliability, practicality and trustworthiness, all while being competitively priced. Nudge offers clients online accounting and financial reports, business improvement reviews, taxation services, KPI management and just recently the option to receive consultation and advice services. These key services combined with the ability to receive expert advisory feedback; formulated around the business data, allows for managers to fully develop and maintain a functional and growing workspace. When compared to accounting in-house, the time involved with hiring and maintaining financial employees could always be better spent developing the business as a whole. With 80 years of experience and a growing team, Nudge understands what is important to your business and its accounts. Superior customer service coupled with such an understanding of its area allows for your business accounts to realise their full potential and bring you the manager the information needed to fuel the decisions that create success. For new or more traditional companies that haven’t been convinced by the power of online accounting yet, Nudge confidently suggests a Free Business Health check. Such a report is undertaken by our devoted team where an analysis and advice is given based on the current financial standpoint of your report. This report in detail covers areas such as revenue projection, breakeven point, profitability, growth and cash flow all with substantial depth and detail. Ultimately, Nudge cooperates with your business in order to bring you manger a cost effective, responsive and detailed report to turn your number into knowledge.

Online Accounting and what it means for your Business

Technological advances have enabled businesses and managers to consolidate data and information online. Through these practices, business has been born and some have failed. There are many examples of business that have failed due to not updating and following the trend but there are much more that have succeeded and exemplify what it is to be a ‘connected’ business. By connected, what is meant is that businesses have incorporated technology and equipment to simplify outdated processes. For example, compare writing reports with pen and paper to something like compiling a document with MS Word. Online accounting could be interpreted as using a web-based bookkeeping service or having an external company that does your accounting off-site and provides the service over the internet. Both have their respective pros and cons. Mainly, with consideration to web-based programmes, Pros are control and accessibility, while cons range from ease of use and slow response time to potential security threats and information theft. On the other hand, having an external accounting company to control and maintain business records reinforces pros on levels such as cost, simplicity, security and remote access to name a few; with cons orientated around Web access.

Analysing more in depth on small businesses and how they structure themselves, allows for in-depth understanding of which method would suit which business type more effectively. The structure typically involves a person doing one or multiple of the functions that are marketing, finance, sales distribution etc. All of which have their own time and monetary constraints. Considering the financial restrictions on such businesses puts into perspective the level of constraint that managers face when making such decisions. Considering the time and money involved in hiring and training staff the business processes, appropriate monthly payments to an external accounting firm would be the best option almost every time.

Technology & Bookkeeping

Development and evolution in bookkeeping

With the rapid and astonishing expansion of technology, that pierces through the core of all professions and establishes its mark, we humans suggest that a “perfect word” is slowly approaching. As far as the accounting realm is concerned, technology has enriched it by providing impeccable accounting software and adroit methodologies for financial organisation. However, all these advancements are deemed inadequate when alternative companies tend to lay back and settle with traditional methods of accounting that are deemed for failure and disorganisation. A manual accountant is no longer a viable option as financial processes are slowed down and the percentage of a mistake is evidently high. New, technological advancements are finally here to engulf the financial realm, dispersing the need of manual and old fashioned accounting practices.

Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. Software such as Xero enables us to be in complete control and display all your financial statements within a user-friendly area, thus keeping an organised portfolio and a happy client! Nudge Accounting have embraced technology and with new, young and versatile online accountants, we are the future of the accounting realm. A digital era, where bank statements, tax lodgements and all financial related affairs are completed through the internet in an online area is what we are facing at the moment. Accounting firms have yet to realise the reality of the situation, by sticking to old and washed out methods of accounting. Nudge Accounting, the professionals, utilise the new tendencies and envision the future of accounting, online accounting!

Computers have changed the nature of accounting. They evolved accounting into a face-paced dynamic profession that requires adroit members and a core team. The profession has evolved to a point where accountants need to acquire further skills, such as interpreting data, giving good financial advice, suggesting accurate business decisions and overall assisting the client on a more influential level. Today’s accountant has adapted into a business consultant rather than a human calculator. Luca Pacioli (1494) was the first to analyze the systems of debits, credits, journals and ledgers. Pacioli’s writings are the basis of modern accounting. With that in mind and the upbringing of technology, Nudge Accounting propelled their excellence and with their dynamic team of online bookkeeping professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.

Alleviate the perpetual stress normal bookkeeping procedures may bring out. Forget all the convoluted and painful paperwork situations that flourish failure! With Nudge Accounting you will receive the utmost professional online bookkeeping service with a structured reporting system that will have you in control of your finances. Contact Nudge Accounting, today!



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.

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




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 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!


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


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