bookkeeper Archives - Nudge Accounting

Do I need a bookkeeper or accountant or both?

Bookkeeper, accounting, Jack Delosa

What is the difference between a bookkeeper and accountant?

I recently attended the launch of Jack Delosa’s new book, Unprofessional, in which he talks about his experiences as an entrepreneur and business owner.

I was immediately drawn to his chapter on Knowing your Numbers as a business owner and the great decisions you can make when you have them. At Nudge, we love it when business owners and clients know their numbers to make great business decisions!

Jack outlines from his perspective as a business owner and business educator the types of people you need to work with to manage the finances of your business. A bookkeeper and accountant were two key roles that he viewed as critical in any business, no matter the size. I have used extracts from his new book as it gives his perspective as a business owner on how he views the different roles.

What is a bookkeeper?

A bookkeeper is someone who does the administrative and operational tasks that relate to managing the finances of the business.

Continue reading “Do I need a bookkeeper or accountant or both?”

Is my business lunch a tax deduction? Nudge in Shoestring

Tax deduction, business lunch

“Is my business lunch a tax deduction” was our article last month for leading Start-Up publication, Shoe String Why? Because it is one area which causes a lot of confusion and start-ups and small businesses want to understand whether meals (and coffees) can be claimed as a tax deduction.

It’s not a black and white area so we thought that some simple tips can help go a long way in working out whether you can claim a tax deduction. So what are the questions that you should ask (and that the ATO wants you to consider):

Why is the food or drink being provided – i.e. what is its purpose of the event. If it is provided in a social setting, then the chances are that is is entertainment
What food or drink is being provided – is it a light meal provided at work or is it a set menu with matching wines. As the meal starts to become more elaborate, it starts to take the character of entertainment
When is the food or drink being provided – meals provided during work hours are less likely to be entertainment, however with this point it’s especially important to consider the purpose and whether it is social.
Where is the food or drink being provided – meals consumed on your business premises are less likely to be entertainment. At a restaurant, it is difficult to say it isn’t.

It’s important to consider these initial steps to help you work out whether you can claim a tax deduction on meals (and coffees).

And for more information on this, and the next steps we take at Nudge, you can read my article here.

Cheers
Emma

Nudge Accounting in StartUpSmart

This week Nudge Accounting was featured in StartUpSmart.

The article discusses how we turned around one of our biggest challenges to make it our “Best mistake”.

Some key points we were able to take away from our best mistake were:

Communication is one of the most critical parts of business. Getting it right needs to be with a whole-of-business approach, all the time
Inject your key differentiators into the message straight away to capture attention, Otherwise the opportunity could be lost.
Highlight the problem your audience has. Only when they understand their problem, can you provide the solution

We were lucky to have our communication mistake picked up by a presenter at a workshop during Small business month – we are pleased to say this presenter with his own small business has become a nudge client.

Cheers
Emma

Welcome to Nudge

We have launched today and are delighted that you have come past our blog.

We’re planning to write this blog with the following people in mind:

You’re a small business with roughly six or less staff
You’re interested in running your own small business

We’ll cover a whole lot of interesting content. We will chat about issues we experience in running Nudge, as well as topics and info that small businesses will hopefully find useful. And, of course, we’ll also keep you update to date on accounting and tax news for small businesses.

Before we go, just a bit more about Nudge – Whilst we’ve officially just launched today, we have been working on our concept for over twelve months. In our pre-launch period during the last few months, we had a number of small businesses experience our service, and the feedback they have given us (some of which is on our homepage) to date has been fantastic! We’re the first Aussie integrated solution and are super excited to be bringing our service to the whole of Australia. Feel free to drop us an email, call or comment via this blog.

Cheers
Emma, Mark and Aaron