How to Process Christmas Bonuses in Xero Hi Friends, With Christmas only a few sleeps away, you might considering how you can show your appreciation to your hardworking teams. One option is to pay a Christmas bonus. Today, I’m going to walk you through the simple steps of handling Christmas bonuses in Xero – it’s easier than you might think! Step 1: Consider Your Company Policies regarding Bonuses First things… Read more
If you run your business from home or even partially from home ( after hours) listen up… The rules set by the ATO have changed today. From 1 March 2023, the ATO now requires you to keep a diary / calendar record of all hours worked from home if you want to claim working from home (WFH) deductions. Prior to this date, you could just estimate WFH hours. Note that… Read more
Balanced Advantage provide virtual bookkeeping services only, which means we don’t provide on site bookkeeping. This doesn’t mean that we never visit our clients – we love seeing our clients! It means that the majority of our work is done off site using cloud technology. We are often asked by potential clients why we choose to work in this way. Interestingly, we are never asked this question by our own… Read more
We love the freedom of a virtual business and enjoy working with business owners with the same sense of adventure. Recently we have been working with a virtual not-for-Profit who has been growing rapidly and now employs a team of 30 staff located across NSW. Our aim for this client was to centralise the accounting function , collect the financial information from various locations, create a paperless audit trail, create… Read more
Payroll is usually the least popular member of business process family but is the one that quietly keeps your employees happy and the wheels of your business turning . It’s also the process that can cause your business problems if you get it wrong, which is sometimes tricky with the ever changing technical requirements. Here are our tips for staying on top of your payroll. Use accounting software that makes… Read more