Record keeping management tips for small businesses

By Sky Accountants

The Australian Taxation Office requires small businesses to keep business records for at least five years and the ATO should be able to access these when needed.  To help you set up a good record keeping system, you should first know what records you should keep and find out if your business is good at …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Ways to manage your business finances effectively

By Sky Accountants

As a business owner, it is important to control your finances and prevent money loss on sales by regularly evaluating your financial position, profit and loss, cash flow forecast and break-even point.   When you run a business, you must keep up with your bookkeeping and financial reporting.  Bookkeeping system Set up a bookkeeping system that …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Long term business planning: Start digitising your processes

By Sky Accountants

According to a new report, 73 percent of small businesses plan only up to six months ahead.  These businesses focus too much on their daily operations and do not look far enough forward.  Only 6 percent of the surveyed businesses said they had a five-year plan.  This new data can be alarming as it shows …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

How to launch a highly functioning loyalty program

By Sky Accountants

Customer loyalty is very important in the hospitality industry and a loyalty program is a good way to attract and maintain return customers through open communication lines and discounts.  However, it is also crucial to ensure that your loyalty program is organised and properly marketed to reap its benefits. It should not cost you plenty …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Be an environmentally friendly restaurant, bar or café

By Sky Accountants

The hospitality industry has focused on sustainability for several years now.  Hospitality business owners are becoming more responsible in making positive changes in terms of wastage, use of damaging chemicals and their carbon footprint.  As a business owner, you can start by making your workplace more environmentally friendly even with just small changes.  Packaging First, …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Avoid underpaying your staff

By Sky Accountants

Small businesses often do not have a higher management that checks all the figures, so owners can sometimes be tempted to cut corners by stashing a payment or scrimping a dollar off something when they can.  However, it may not always be a smart move, especially if they are unknowingly short-changing an employee.  Sky Accountants …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Why proper planning is important for a new business to survive

By Sky Accountants

For people who want to start a hospitality business, it can be easy and convenient to just buy an existing business.  However, problems often arise when you purchase a fully-functioning food business. With awareness and proper planning, you can avoid many of these problems.  If you want to buy an existing business, you need to …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Technology trends in the hospitality industry in 2018

By Karissa Fowkes

Tech trends constantly change and the hospitality industry appears to be supporting technology for sustainable programs and improved customer experiences.  This year, the biggest technology trends are easy mobile payment, in-house recharge facilities, digital menus, plant-based technology and trackable produce. 1. Cardless payment The cardless payment technology hype in Australia has started a few years …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Cancel out noise in your minimalist design

By Sky Accountants

The minimalist look with sleek dining sets, high ceilings and open areas have become so popular with restaurants because of its less-is-more approach, however there is also a down side to it.   Talk to Sky Accountants who specialise in hospitality and Xero accounting to know the advantages and disadvantages of minimalist designs.  Modern design trends …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">

Sky Update – October 2018

By Sky Acccountants

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest. Casual employees and leave entitlements In our September Sky Update we wrote about the WorkPac v Skene case involving a casual employee that was found to be entitled to annual leave. This court …

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/category/blog">
Social media & sharing icons powered by UltimatelySocial