Accounting On Purpose

Australian Tax Explained - Your #1 FOCUS! // In this episode I want to walk you through typical Australian tax deductions and why you need to reconsider certain deductions.
If you’re a sole trader tax in Australia is really about profit first. The Australian tax system is here to benefit you in places but ultimately you have to prioritise the profit in your business and not try to write off everything!
Company tax returns in Australia are a little more complex and that’s where we can start to look at different options but in Australia the tax system can work against you when you work against it.
Understanding tax in Australia is about understanding tax deductions, understanding where you sit as a small business and understanding taxes for small business, so let me walk you through your number 1 focus here in this video.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Internal fraud is a very real thing in business but unfortunately by the time you know anything about it, it’s too late. Preventing employee theft is possible though - but for you it can feel awkward.
In this episode I look at employee theft and specifically employee theft prevention so that you know how to frame it in your mind when you’re putting measures in place.
Employee theft in the workplace is something every business owner needs to know about. Employee theft signs are not always obvious so it’s important we put working parameters in place from the beginning to avoid these things. It’s a safeguard for both you and the employee.
So if you want to know how to stop employees from stealing or you have an employee stealing money, then watch this to understand what to do.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

If you want to know how to close a business or how to dissolve a business and you own a small business in Australia, then stick around. In this episode I walk you through some business exit strategies that include (but are not limited to), selling a small business, closing your business and passing the business on.
These business exit strategy examples are the main options open to you and I discuss the things you need to consider with each one. I touch on how to evaluate the business value because ideally, it would be great to sell your business to capitalise on the hard work you put in over the years.
That being said, knowing how to value your business while helpful, is not what everybody wants so understanding your options is paramount. This video is really to help you with the next steps after you decide ‘I’m closing my business’.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

As we dive into this episode I want you to know that when we look at the incremental budgeting advantages and disadvantages we are looking at them through the lens of incremental budgeting vs zero based budgeting.
Often times when budgeting for business we are presented with a business budgeting framework that someone shows us because they like it or it works well for them. What we aren’t exposed to is the pros and cons, so that’s what I want to talk through with you today. More specifically, the incremental budgeting pros and cons.
Small business budgeting doesn’t have to be difficult but you just need a little of the business budgeting basics so you can go ahead and create your small business budget plan.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Have you ever wondered what the difference is between a bookkeeper vs accountant?
I am often asked, accountant vs bookkeeper - which one do I get? Or what does a bookkeeper do? And what does an accountant do? So that’s why I decided to put this accounting vs bookkeeping episode together for you today.
Bookkeepers and accountants work together but they are not the same thing. So we shouldn’t approach it like ‘bookkeeping vs accounting’ but rather we should consider ‘when do I need a bookkeeper?’ And ‘when do I need an accountant?’
The bookkeeping vs accounting difference really boils down to the short term vs the long term view of your business finances. You may even have a bookkeeper accounting for you too! A lot of accountants do both.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.