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Lightening the BAS load


Hi, my name is Uri and I'm a recovering paperwork phobic!

Time was that whenever I got a bill, a form, or something I needed to attend to, I'd take it, read it and then file it in a pile on the kitchen counter. Then I'd forget all about it! The sad consequence of this was a parade of late fees, administration fees, cancellation fees and other goodies. Sound familiar?

When I started my small business I had to change. As a business owner I had more responsibilities and obligations such as the dreaded Business Activity Statement (BAS). Not all small/micro busi

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Listen to her!


 

If you never tried fiverr before you should do so soon.... it's so cool to see what some people will do for five dollars.

Come to think about it, with the way the Australian dollar is going lately it's not even five dollars!

{qtube vid:=Ur7ZP7i61P0 w:=620 h:=480 b:=1 c1:=402061 c2:=9461ca ap:=0 rel:=0}

So just listen to this lovely lady, she has an important message to convey.

 

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Startup Feature Profile: Nominal


By Gareth Rose on Monday, March 28th, 2011

Nominal is an Australian startup on iPitch.  They have built a good product and are currently growing their customer base.  We were interested to feature Nominal because they provide a great example to the iPitch community about a fellow startup facing typical startup challenges and working hard to succeed.  Here's the interview with Uri Maimon of Nominal:

iPitch: What problem is your business or idea trying to solve? Continue reading...

18) TFN and PAYG – forms you need to launch


  1. You must notify the ATO about each employee ¢â‚¬" including yourself
  2. A summary must be send about the last financial year for PAYG summary

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17) BAS features in a nutshell


  1. You MUST submit BAS every month or quarter
  2. BAS has many forms the ATO will tell you which one you have to submit
  3. Some are relating to your GST and some to PAYG withheld
  4. The SBR does the list, pre-fill, pre-lodge and lodge steps

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15) The general ledger is the basis for all reporting


  1. Double entry bookkeeping debit=credit
  2. Each record is related to an account
  3. All reports are using the general ledger records

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16) Track your business like a pro


  1. The business dashboard portlets
  2. Select the numbers that are relevant to your business

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14) Track your receivables and send out statements


  1. You allow your customer a certain time to pay the invoice
  2. Tracking your receivables is one of the most important activities
  3. Look at the graph
  4. Produce and send statements to customers

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13) A simple payroll system


  1. You have to create and keep payslips to company employees - even yourself
  2. Employee details are kept for salary, superannuation, tax etc
  3. Employees get paid in cycles
  4. Payslips are created in each cycles
  5. Some employees have a salary and some are paid by the hour

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12) Do you use PayPal? How to get paid and record it.


  1. Pay Pal is easy to setup and allows an alternative way to get paid, some businesses use it as only form of payment (nominal included)
  2. You can add a Buy-Now button to your invoice, which will get the customer straight to the payment page.
  3. If you use PayPal to pay and receive payments, you need to synchronise with your PayPal account
  4. Spend money in PayPal creates a purchase
  5. Receive money in PayPal creates an invoice
  6. Fees in PayPal creates expenses
  7. Transfers between bank account to PayPal a

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