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What’s the difference between payroll arrears and falling into arrears? Payroll (or pay run) is the process of paying every employee on the roll (aka in your employ). In-arrears and in-advance simply describe whether the employee completes the work before or after payment. Advance: Payroll occurs before the employee completes the work. Paying in advance is popular with employees and can be a good hiring incentive. Arrears: Payroll occurs after…  Read more

First and foremost, if you are a corporation or a limited liability company, a separate bank account is required by law (see business.gov.au for more detail). For everyone else, it is simply good business practice. Why? Transparency of business profits, expenses and deductions Clear and separate business records make it much easier to see whether your business is making a profit or draining your personal bank account. It also makes…  Read more

Finding the right bookkeeper is like finding the right employee. You seek the skills, personality and availability that meet your business needs. And just like find the right employee, finding the right bookkeeper for your unique business needs will serve as time well spent in the long run. Things to look for in a bookkeeper: Skills: Whilst formal qualifications aren’t mandatory in Australia, you will always be better off with…  Read more