Accounting Bookkeeping: How to Finance your Working Capital

Working capital is the capital that a company needs to fund its everyday financial obligations such as stock replenishments, salaries, and utility or maintenance costs. These finances are required to run a business successfully, but new businesses may find it difficult to establish a steady cash flow at the beginning. Because of this, businesses need …

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Bookkeeping and Accounting: Small businesses to save money from lower energy prices

Many small businesses are not yet aware of the good news coming their way. Small business customers will actually face lower prices and clearer energy bills starting July; however, if they do not manage their bookkeeping and accounting properly, they may not notice the difference and lose the opportunity to use these savings for something …

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Food consultant company: Payroll tax to be reduced soon?

State governments are starting to reduce their payroll tax one by one and the WA Chamber of Commerce and Industry is urging the McGowan Government to do the same, saying local businesses need the reduction so they can employ extra staff. Restaurant and hotel operators are also calling for change in payroll tax and would …

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Bookkeeping for hospitality, restaurant, café, pub, hotel, bar and gaming businesses

As with anything else in this world, expectations from the hospitality industry grows bigger and bigger by the day. Hotel, bar, restaurant, café, pub and gaming venue operators are expected to provide efficient and courteous service at all times. This efficiency should be applied to their bookkeeping as well, with hospitality being a fast-paced industry. …

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Revenue Management: Should your restaurant or café use a delivery platform?

Australians love to eat out. According to the Australian Bureau of Statistics in 2018, an Australian household spends an average of $95.05 each week on restaurant and takeaway meals – an amount that’s about triple their electricity bills or secondary education costs. This is good news for restaurant and café businesses but operators should still …

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Revenue Management: How can you make your gaming venue, club or business more profitable?

Sky Accountants have reviewed and analysed numerous businesses and have seen patterns emerging. There are differences between money-making businesses and average ones, and characteristics that separate the efficient and highly profitable ones from those who simply break-even. Revenue management appears to be very important. The differences are not based on the product, industry, leadership or culture …

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Hotel Consulting Firms: Gaming regulator to increase fines for non-compliant casino operators?

By Sky Accountants

Australians are known to spend large amounts of money at gambling tables and the government has taken steps to restrict live casino operators in the hopes of curbing gambling expansion and controlling gambling addiction. Hotel consulting firms advise operators to find possible breaches and to prepare for an increase in fines. Gambling advertisements have been restricted …

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Hospitality Accounting: Council fees for restaurants, cafes and small businesses to be cut by 50 per cent

By Sky Accountants

Council fees for restaurants and cafes will be reduced in Brisbane as part of Mayor Adrian Schrinner’s efforts to support small businesses in the suburbs and it’s time to review your hospitality accounting. According to reports, footpath dining permit fees for new businesses will be slashed by 50 per cent as soon as council reveals …

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Accounting and Bookkeeping for Clubs

By Sky Accountants

It takes a lot of hard work and can be challenging for clubs or non-profit organisations to keep track of their financial reports especially if they are already involved in the daily administration of their organisation. They would often rely on volunteers to manage their finances but choosing the right bookkeeping firm can actually make …

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Protect your business through insurance

By Sky Accountants

Some businesses fail to prepare cover for the transfer of control or equity in the business should the unexpected happen and critical illness, disability or death to one or more of its owners or key people. As a result, the lack of planning can result in the demise of a healthy business just because there was no funding agreement or succession plan in …

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