Understanding your numbers is critical if you want to control your business (instead of your business controlling you). Financial reports indicate whether your business is in good or poor health and can diagnose weaknesses before something becomes terminal. Let’s break down your Profit and Loss Report… Your Profit and Loss Report measures the overall efficiency […]
22
Jan
Jan
Single touch payroll (STP) is a new regulation that changes when and how small businesses report payroll activity to the Australian Tax Office (ATO). Businesses used to report this information to the ATO once a year. Now, they need to send a report after each payday. And those reports must be submitted digitally, using a […]
18
Jan
Jan
David recently sat down with our GM and had a chat about his job and life in general. So David, you’ve been in the accounting profession a long time, and you celebrated your 11th anniversary with DLA in November last year. Can you tell me why do you do what you do? I enjoy helping […]
15
Jan
Jan
Your financial reports depict the general health of your business and having a good understanding of these reports enables you to pinpoint areas that require a more detailed diagnosis. The three most important financial reports for your business are: Your Trading Account. Your Profit and Loss. Your Balance Sheet. Let’s focus on your Trading Account. Simply put, your […]
09
Jan
Jan
A great idea is the starting point for any business – and these ‘lightbulb moments’ drive the ambition and entrepreneurial spirit of the start-up community. But before you bring your idea to market, you need to know WHY you’re in business – and be confident that there’s a robust and workable business model behind you. […]
19
Dec
Dec
The much-publicised Single Touch Payroll (STP) legislation was passed by the Senate on 5 December 2018. The STP legislation affects all employers by adding a new level of reporting obligations. Whilst some employers would already be subject to the STP provisions (for example, they had more than 20 employees on 1 April 2018) all employers […]
30
Oct
Oct
How did you end up in the accounting profession? My father was an accountant all his life and my brother had his own practice but I wanted to make a difference in the lives of others by not being your normal everyday accountant so I chose to start David Leddy & Associates aka DLA Partners. […]
24
Oct
Oct
So you have decided to set up a new business, and you have registered a business name with ASIC. You have got the website up and running, even printed up yourself some fancy business cards. You would think that by registering a business name, that would stop anyone else coming along and using that name […]
10
Oct
Oct
In many situations, hiring a contractor to get a particular job done makes perfect sense. It may require expertise or skills none of your employees has. You may only need someone for a short timeframe to clear a backlog of work. Or maybe you just want to avoid having to go through a formal recruitment […]
Any business that isn’t planning for the future is planning to get left behind. While most business owners know that budgeting is a critical part of their planning, there is some confusion about which components should be included in a budget.