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Thread: David's bookkeeping corner.

  1. #16
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    Default Re: David's bookkeeping corner.

    hey nev i don't see why you can't have
    Port fairy mowing and maintenance services pty ltd
    Portland pest and weed control
    as your sig line
    Anything Ian says may or may not be garbage, it may also be his own opinion or it may not be his opinion at all, it may just be something he felt like stating anyone following his advice does so at their own risk and may be doing something Ian would actually advise against.
    And if you don't like what Ian has to say use the ignore function if you don't know how ask i will gladly tell you

  2. #17
    Senior Member glassngrass's Avatar
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    Default Re: David's bookkeeping corner.

    Let's get back on topic.
    Suggest further discussions re: compliance with forum rules are better done here - http://www.indmowing.com.au/forum/showthread.php?t=2655
    David
    Mr Sparkle Car Spa

  3. #18
    Senior Member DavidS's Avatar
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    Default Re: David's bookkeeping corner.

    Keep up the information David, I find it very helpful, I have learnt things that I had not looked at yet as I only work my business part time.
    I do believe that people should be able to put up their Jim's or VIP logo as a avatar or any other thing as long as it is appropiate.

  4. #19
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    Default Re: David's bookkeeping corner.

    jims and vip logo's as with all franchises are owned buy the franchise not the franchisee so i believe the logo can be used but you must supply written authorization from the copyright owner. also in order for a franchisee to post the logo as an avatar they would have to join indy mowing as a full member of ilmaco not just the forum.
    also i would suggest that if people have a problem with the way someone displays there posts that they probably should take it up with the admin and not on the open forum where they may just look like whingers
    Anything Ian says may or may not be garbage, it may also be his own opinion or it may not be his opinion at all, it may just be something he felt like stating anyone following his advice does so at their own risk and may be doing something Ian would actually advise against.
    And if you don't like what Ian has to say use the ignore function if you don't know how ask i will gladly tell you

  5. #20
    Senior Member glassngrass's Avatar
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    Default Thread hijacked

    Quote Originally Posted by ian
    jims and vip logo's as with all franchises are owned buy the franchise not the franchisee so i believe the logo can be used but you must supply written authorization from the copyright owner. also in order for a franchisee to post the logo as an avatar they would have to join indy mowing as a full member of ilmaco not just the forum.
    also i would suggest that if people have a problem with the way someone displays there posts that they probably should take it up with the admin and not on the open forum where they may just look like whingers
    Correct.
    Despite forum rules stating "Any franchise or franchisee that wishes to use the franchise logo on the forum must have a letter signed and dated that the user is allowed to post the logo and THE LETTER must be sent to ILCOA for approval to be granted", it has been advised that regardless of such a letter and INDI membership, franchise logos, emails, webs and phone numbers and links will not be permitted - in part because of the chronic whingers. I respect that the owner of a house can set his pwn house rules. This remains a great forum to participate in.
    Again, I request any further discussions on "Forum Rules" be posted on the appropriate thread, namely http://www.indmowing.com.au/forum/showthread.php?t=2655.

    Admin. Would you please relocate off-content posts please?
    David
    Mr Sparkle Car Spa

  6. #21
    Senior Member DavidS's Avatar
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    Default Re: David's bookkeeping corner.

    If I do all my accounts on MYOB what would I need to supply to a book keeper or would I really need a book keeper. I am looking further down the track when I start my business full time. I have set aside time each night to process all my paper work now.

  7. #22
    Senior Member Bluey's Avatar
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    Default Re: David's bookkeeping corner.

    Well now that we have sorted that out can we get back to the topic of this thread.

    David I for one appreciate what you are doing for us here. You are giving us the benefit of your knowledge without cost and I applaude you for that. It is after all your business now and to do so is akin to mowing lawns for free for the rest of us.

    This is what this forum is about. Individuals sharing their knowledge so we can all benefit. Go ahead and keep posting as the information is of great assistance to us all.

    Oh and byt the way if you score some business out of the process bookeeping for some of our members well good luck to you.
    Cheers

    Bluey
    Adelaide Home & Garden Solutions
    http://www.ahgs.com.au


    "Success occurs when no one is looking, failure occurs when everyone is watching."

  8. #23
    Senior Member glassngrass's Avatar
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    Default Re: David's bookkeeping corner.

    DavidS

    As to what you need to provide to a bookkeeper really depends on what/how much you want to do yourself, and what you want from a bookkeeping service. This is why our first meeting should be a "Client needs assessment".

    If you are happy performing data entry yourself at present, certainly a database inspection on a quarterly basis would be in order. This inspection would look for anomalies and help ensure tax codes used and posted entries appear correct.

    Are you performing your own bank/loan/visa account statement reconcilliations? If not, your bookkeeper can do this - best on a monthly basis but certainly prior to preparing your BAS statement for lodgement. As of start next year, only registered BAS agents can legally lodge a BAS statement for you.

    As your business grows and needs change, you may feel that after a long, productive day, you are much better freeing up your evenings for family and relaxation. At this point you may decide also to delegate the data entry - perhaps weekly during peak and monthly off-peak seasons.

    If, like many, you struggle with 'letting go' and insist on doing as much as you can yourself, some bookkeepers can provide MYOB training - either one on one, classroom, or interactive and online!

    There are many more services a bookkeeper may provide - such as payroll, that may be of benefit to you, but the point is, what will need to be provided will depend on the services you require.
    David
    Mr Sparkle Car Spa

  9. #24
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    Default Re: David's bookkeeping corner.

    Quote Originally Posted by Bluey
    .
    David I for one appreciate what you are doing for us here. You are giving us the benefit of your knowledge without cost and I applaude you for that. It is after all your business now and to do so is akin to mowing lawns for free for the rest of us.
    david i'm happy to do my own bookkeeping but can you please come and mow my lawn for free
    Anything Ian says may or may not be garbage, it may also be his own opinion or it may not be his opinion at all, it may just be something he felt like stating anyone following his advice does so at their own risk and may be doing something Ian would actually advise against.
    And if you don't like what Ian has to say use the ignore function if you don't know how ask i will gladly tell you

  10. #25
    Senior Member The Local Gardener's Avatar
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    Default Re: Heating oil scam

    or just hang up, why waste your time...

  11. #26
    Senior Member glassngrass's Avatar
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    Default Re: Heating oil scam

    Quote Originally Posted by The Local Gardener
    or just hang up, why waste your time...
    The reason my friend, is as MRS HMS said - "If you are contacted by someone who tries to do this, get their details and then ... report them to ASIC and the ACCC." I can't do that if I just hang up!

    Removing a rogue operator is not a waste of time - but a victory!

    The main thought I want members to take on - don't be an easy target for these scammers.
    David
    Mr Sparkle Car Spa

  12. #27
    Senior Member glassngrass's Avatar
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    Default Re: David's bookkeeping corner.

    Quote Originally Posted by ian
    david i'm happy to do my own bookkeeping but can you please come and mow my lawn for free
    I'll mow your lawn for free if you'll come do MY bookkeeping!
    David
    Mr Sparkle Car Spa

  13. #28
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    Default 10 Tips for Business Performance - Tip No. 3: Reconcile your Bank Accounts

    Reconcile your Bank Accounts

    By doing a reconciliation you are checking your own internal records against those of the external records of the bank. Errors can occur and it is best to discover these as soon as possible. It is normal practice to reconcile your bank deposits and cash payments at least monthly and it is strongly suggested that this should also be done for credit cards, loan accounts and clearing accounts. All transactions should be traced back to an original document and the figures checked to see that they are not only accurate but also that the entry has been made for the correct date and against the correct ledger account.
    David
    Mr Sparkle Car Spa

  14. #29
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    Default Tip No. 4:Be aware of your GST liability

    Be aware of your GST liability
    Proper records need to be kept of GST collected and GST credits that are claimed as part of the BAS reporting process. Unless this is put aside, it is easy to spend the GST component and be short when time comes to forward it to ATO.
    There are also some traps, such as the need to charge GST on the sale of assets, and to make sure that suppliers who you have claimed a GST credit for are actually registered for the GST. This can easily be checked by going to the web site www.abr.gov.au and entering their ABN or business name.
    Unless you are registered for a cash BAS you may be required to pay GST on the total invoiced price of a job - even though you may not be paid for some months ahead (or at all!)
    David
    Mr Sparkle Car Spa

  15. #30
    Senior Member glassngrass's Avatar
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    Default Tip No. 5: Control your Drawings

    Control your Drawings

    Businesses need working capital to maintain cash reserves and cover the cost of operations. If the owner keeps taking excess cash from the business for private expenses, this will deplete the businesses capacity to pay its way. Set up a strict budget for the how much the owner needs to draw out of the business each week and avoid the temptation to take advances on business profits. Remember that money taken out of a sole trader or partnership business by the owner will appear in the Balance Sheet and not the Profit and Loss - this may make the business profits look better than they should be. Avoid using the business bank, credit card and petty cash accounts for private or personal use and try to stick within the budget that has been set.
    David
    Mr Sparkle Car Spa

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