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Plumsale Blog

Articles in 'Bookkeeping'

What is Cash and accrual reporting methods?

30 September 2012

The Australian Taxation department also call this Cash and non-Cash accounting methods. I’ll see if I can simply explain the difference between these 2 methods.

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Sack the tax man and find your own tax breaks

27 June 2012

As the old saying goes there are only 2 things certain in life, Death and Taxes. So why do we expect these certainties to change, why are we trying to fight them. The government is running a much larger business with many more directors and shareholders. With the latest budget not handing too much out small businesses, we have been given the cold shoulder and told find the money where you can because we are not going to hand it out.

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Should I use Excel for bookkeeping

19 April 2012

Bookkeeping is generally a significant part of a business whether it is a small or a large business. Basically, bookkeeping may perhaps be defined as the way of recording a business’s financial transactions or accounting in other words.

There are many ways to perform bookkeeping. You can do it manually if you would prefer it but you can do it more easily through the use of some application or software. The most common tool for easy bookkeeping is the Excel. Excel bookkeeping is easier because you can put standard formulas and you can also eradicate the cost as well as the control of a full time worker. Plus, Excel is really easy to learn but setting up that standard formula will take time.

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When Should I pay my expenses?

4 April 2012

Should I pay my expenses when they come in or process them once a week or month?

As business owners, we should know our priorities, responsibilities, and obligations. One of these priorities, responsibilities, and obligations is paying the bills or expenses that our business makes. We all know that our income must exceed all our expenses in order to pay them and to know whether our business is profitable or not. One question that lingers on most of business owners from time to time is, “Should I pay my expenses when they come in or process them once a week or month?” We will try to get an answer for this question as we go along.

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Is it good to have a “Cash-only” Business?

21 March 2012

Last week I created 5 top reasons why I should accept Eftpos. Today I am going look into the benefits of having a cash only business.

A lot of small businesses operate as “cash only” business since cash is considered the most frequently accepted and accurate mode of payment for a business. With the advances of technology, business owners are recently facing the predicament whether they should contnue limiting payment options or not.

If you consider continuing to have a cash only business, here are some of the benefits that will surely be a relief to you.

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Introducing Plumsale

15 March 2012

My business partner and myself started a software development company in 2006 called Avantic Software, mostly consulting and we got to build some pretty cool products over the last few years. We needed a project of our own, something that would get us out of this consulting game and a product we can call our own.

We had both been annoyed over the last 5 years on the lack of great and simple tools to help manage small businesses. We have both worked for large organisations that spend hundreds of thousands of dollars on Accounting, Billing and Customer Relationship products. There are also some very good software packages for medium sized businesses, if you are willing to spend up to and over a thousand dollars a year. There is nothing out their for the micro to small business, unless you are a big fan of excel.

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Why Businesses Create An Invoice?

6 March 2012

We’ve always known that almost all businesses make use of invoices. Apparently, though, not all of us understand the reason behind that while others don’t even know what an invoice is.

Basically, an invoice is just another form of a bill and is an important commercial document that is presented by the seller of goods or services to his customers. What makes this document essential is that it has all the necessary information of those goods or services being sold.

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