Tag: Albany Accountant

Australian company directors have the next year in which they will need to apply for a Director Identification Number through the Australian Business Registry Services (ABRS). The ABRS will roll out progressively between 2021 and 2024, with the first step being that all company directors will be required to obtain a Director Identification Number(DIN). For most directors, the due date will be 30 November 2022 however a new appointment as…  Read more

Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending and anticipate potential financial issues. A financial plan can also help when requesting funding or finding investors to bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked or put off for another day.…  Read more

Your 30s are an exciting time. You’re typically making more money than you were in your 20s and you’re looking to the future to determine the type of life you want to live. Your 30s are also a great time to take control of your finances, so you have more security and flexibility in the coming years. Here are 5 financial tips to follow in your 30s, to help you…  Read more

A quick guide to Simplified Small Business Accounting If you run a small business,simplify your accounting system and instead and concentrate on actionable metrics. This is especially true if you are the only one managing your business. Below are some of the ways you can streamline your small business accounting system: Track your inventory using dedicated inventory management software. Online inventory management software and point of sale systems allow you…  Read more

Family business owners often share a similar goal – to grow the business and pass it on to the next generation. While keeping the business in the family and getting to work with your parents, siblings, or children can be rewarding, managing and growing a family-owned business isn’t without its challenges. Conflicting views on business and family matters such as succession of power, rivalry, favoritism, and disposition of assets often…  Read more

The Federal Budget was released on Tuesday 6th October. We have summarised what we feel is most relevant information for clients of Porters CA. If you would like to read more about the “Winners and Losers” of the Australian Federal Budget for 2020 click here. Key Points: Tax cuts for workers – more money in pockets for more Australians. JobMaker Hiring Credit scheme – businesses supported for hiring employees aged…  Read more

Since the government announced the $70-billion JobKeeper program to support businesses and their employees, many businesses have relied on the scheme to stay afloat. Others have been grateful for the cash boost that made the way for smoother sailing. Phase one of Jobkeeper comes to an end on 28 September and not all businesses are eligible for the next relief package. According to a recent survey by the Australian Institute…  Read more

Tips to Adapt Your Small Business During the Pandemic As COVID-19 continues to impact the way businesses operate and consumers shop, many small businesses may struggle to stay afloat, let alone thrive. Below are some of the simple, yet effective, ways on how you can build a stronger brand, earn more sales, and survive in these uncertain times. Showcase locally-made products Now, more than ever, consumers want to buy from…  Read more

What a year! We don’t need to tell you that this year has been “unprecedented”. With so many stimulus packages, support programs, tax changes and business shutdowns this financial year is set to be like we’ve never seen before. Oddly enough, amongst all the upheaval, rarely have we felt so enthusiastic about the opportunities for people and businesses who are open to new ideas and who are looking for guidance…  Read more

Seamless bookkeeping and accounting You want to avoid paying more than you should come tax time. Part of that is ensuring you have well organised and recorded financial records. When tax time comes around, are you ready or scrambling last minute for missing financial records? Business owners have a lot on their plate and can easily lose track of an approaching tax deadline or financial data needed to submit returns.…  Read more

A market update from joint venture partner Knight Financial Advisors To say it has been a volatile month in markets would be an understatement. From their recent highs to recent lows US shares have fallen 13%, Eurozone shares have lost 16%, Japanese shares have fallen 14% and Australian shares have lost 13%. Emergency central bank intervention saw bond yields plunge to new record lows in the US and Australia. Commodity…  Read more

Risk management should be central to every business. At Porters CA – Chartered Accountants we see two key imperatives – (A) achieve your goals; (B) manage the risk of not achieving your goals. Simple really. Invest in solutions that will improve your business performance and resilience in all cases such as remote working capability, duplicate supply options, multiple unrelated revenue streams, strong client communication channels, robust funding arrangements, documented operating…  Read more

Small business owners can enjoy diversity and job satisfaction by being involved in all aspects of their business. Involvement in all areas of your business allows you to use a variety of skills which challenge you and keep work interesting. Very few operators however, enjoy doing the books. Many business owners do their own bookkeeping under the assumption they will save money. Time spent on the books is less time delivering…  Read more

As part of our pledge to leave a legacy. Porters Director Simon Terry completed the MACA Cancer 200 ride last weekend raising $5364 for Cancer research. Simon attained a position on the honour roll whereby individual entrants committed to raising more than $4000 for Harry Perkins institute instead of the minimum required entry of $2500 funds raised. We are so grateful to all who donated and helped Simon reach his…  Read more

It’s been 18 years since  Jodi Bradley joined Porters Chartered Accountants in Albany in 2001. She has well and truly earned her stripes and this year joins us as a Partner of the firm. Jodi will take on a greater leadership role, the biggest of which is to re-open and expand our offices in Albany. The new partnership brings opportunity for business growth, employment of more staff in Albany and expansion of…  Read more

To many people, financial planning sounds like something for the very rich. The wealthiest people take their piles of money to someone who tells them where to invest it so they can make even more money. The rest of us just focus on saving what we can while paying off debt and hoping we don’t lose our jobs before we’re financially stable. In fact, financial planning is about having long-term…  Read more