1. Review Where Your Business Stands Today   Before you can improve your cash flow, you need a clear picture of your current financial position.  Review the following:  Revenue sources and expected payment dates  Recurring expenses and once off holiday costs  Current bank balances  Updated cash flow forecast based on December spending    2. Follow Up on Outstanding Payments Immediately   January is one of the worst months for late payments because many clients are also recov

The Christmas and New Year shutdown period is one of the busiest times of the year and payroll mistakes made in December often do not show up until January when your team is already back at work.   Before you switch on your out of office reply, make sure your payroll is sorted so your staff receive the correct pay.  At Rise Accountants,  we support Brisbane and Queensland businesses every day with payroll compliance and setup. Below is the checklist every employer should comp

Buying a car through your business can offer tax advantages and practical benefits. Here are the main factors to consider so you make a well informed choice.    1. Understand How the Car Will Be Used   If there’s any private use, you may need to account for fringe benefits tax (FBT), unless the vehicle is exempt (such as certain utes and vans  used mainly for work).    The ATO looks closely at:  Whether the car is for work use  How much personal use there will be  Whether the

Brisbane is home to one of Australia’s fastest growing business communities. From construction to professional services, local businesses can scale quickly. Many are turning to MYOB Acumatica, the cloud based ERP platform formally known as MYOB Advanced, to support that growth.  Acumatica brings financials, payroll, inventory, projects and operational data together in one central system. However, many owners are unsure how to maximise the platform or interpret the large volum

While complex accounting and tax work should always be managed by professionals, there are several financial tasks that small business owners can and should do themselves.  Understanding these helps you make better decisions for the business and know exactly when it is time to call Rise Accountants.  If you ever need support, Rise Accountants  is here to help. We are your trusted small to medium business accountant in Brisbane, ready to provide personalised  advice  and pract

Now that December is here, many business owners are preparing client, supplier and employee gifts. Alcohol is always a popular choice, but the tax treatment varies depending on who receives it and how the alcohol is being gifted.  A common misconception that can lead to missed deductions or incorrect reporting, is that all alcohol gifts are tax deductible.  When You Can Claim Alcohol   Giving a sealed bottle of wine, whisky or champagne to clients or suppliers, the ATO normal

Buying a business can be a smart way to step into ownership with customers, systems and income already in place. But before you agree to anything, it’s essential to carry out proper checks so you know exactly what you’re buying. This guide covers the top five things to review during your due diligence, especially for those looking at small businesses in Australia.    1. Review the Financials Thoroughly   The financial history tells you whether the business is healthy and sust

Many Brisbane businesses are feeling the pressure of increased ATO activity this year. If you have an ATO debt or are worried about falling behind, understanding what the ATO is monitoring can help you take sensible steps before issues grow.  This guide outlines the main areas on the ATO’s radar right now and gives some workable suggestions to help you steady your tax position.  Groups Currently Receiving Closer ATO Review   Late or non-lodgers - Individuals or groups who del

As the year winds down, many small business owners are preparing for a well deserved Christmas break. But before you switch off and enjoy some time with family, there are a few important tasks that can make your January return smoother and less stressful.  Preparing early helps you:  Protect your cash flow   Avoid compliance headaches  Stay visible even while you are away  Reduce last minute stress and rushed decisions  Step into the new year organised    Tighten Your Cash Fl

The holiday season is one of the busiest periods for Australian businesses, not just with customers but with payroll. With annual leave requests coming in, public holidays approaching and bonuses to process, employers often find themselves overwhelmed. A clear payroll plan helps you stay compliant, avoid costly mistakes and keep your team happy over Christmas and New Year.   Payroll errors often increase during the holidays, and the consequences can be expensive. Incorrect le

Running a small business means managing sales, cash flow ,expenses and  bookkeeping  tasks every single day. Choosing the right accounting software is one of the smartest decisions you can make for your business.  Many small business owners choose software based on price alone or pick whatever their friends are using. This often leads to frustration because the system does not match the way their business works.  Here is why choosing the right accounting software is worth yo

Many business owners assume they are already claiming every deduction available, but every year the ATO updates rules, thresholds and allowable expenses. Missing even a few deductions can cost your business thousands of dollars.  Understanding what you can and should claim in 2025 helps you:  Reduce your tax bill legally  Improve cash flow  Stay compliant with updated ATO expectations  Avoid red flags that trigger audits  Plan for better financial management  A common mistak

As the year wraps up, it is easy to get caught up in the festive season and forget about your business goals. Before you switch into holiday mode, it's worth taking a moment to reflect on how your business is currently performing and what you can do to start the New Year off strong.  A quick end of year check in can help you understand how your business is going and if you’re on track to be hitting your targets that were set at the start of 2025/26.  1. Book a Business Adviso

Getting a deposit or part-payment feels great, especially when you’re juggling multiple jobs. But if you don’t set aside the tax portion right away, it can catch up with you fast.  Many small business owners, especially tradies, make the mistake of treating deposits as extra spending money. The problem? That money still counts as income, which means it’s taxable. Ignoring that fact can lead to:  Unexpected tax bills  Penalties from the ATO  Cash flow headaches when it’s time

Hiring an apprentice is not just about giving someone a go on site. It involves employment contracts, payroll, super, workers compensation and more. The wrong structure could expose you to unnecessary risk and can be more difficult to change later down the track.    When you hire staff there comes many risks. Risk of the staff member getting hurt, risk that the staff member could cause mistakes, risks that staff member could become disgruntled for legitimate and non-legitimat

As your business grows, it may be time to think about changing your structure. Moving from a sole trader to a company can offer better legal protection, open new tax planning opportunities and help you work with larger clients.    But many business owners are caught off guard by the actual cost of making the switch.  This post will help you understand the fees involved so you can plan properly and avoid any unwanted surprises. Whether you are growing fast or simply looking f

Switching from a sole trader to a company is a big step. It gives you more structure, protection and opportunities to grow. But it also means updating the people and organisations you deal with.  Many business owners think once they register the company, that is the end of it. Not informing the right stakeholders can cause confusion, delays and even legal issues. Clear communication helps you stay compliant, keep your relationships strong and avoid unnecessary stress.    Who

Starting a business is exciting, but making the right choices early on can save you a lot of time, money, and stress down the track. Two of the most important decisions you'll face are choosing the right business structure and picking a business name that reflects your brand.  Many business owners rush through this part or follow what others are doing without understanding the long-term impact. Getting these steps right helps you stay compliant, build trust with customers and

When the minimum wage goes up, many business owners ask themselves the same question: “Do I really need to adjust wages right away?”  The...

Payroll tax is a major cost consideration for many businesses in Australia, particularly as they grow and take on more staff. One common...