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Blog » November 2016

November 2016

Bookkeepers and the end of year journals from the Accountant – will it be the death of you!

Peter McCarthy from Precision Taxation Accounting & Management has given the bookkeeping profession an insight into why it’s often not so simple to be given an end of year journal from the client’s accountant.

In 1789, Benjamin Franklin stated that “in this world nothing can be said to be certain, except death and taxes.” A leading thinker of his time, it is a shame he didn’t think harder about how we account for those taxes in our data files and financial reports.

The issue of how to account for income tax for our clients is a complicated one. But should it be? We can account for income and expenses, from many different sources for many different clients across many different industries without breaking a sweat. But when it comes to accounting for income tax, something that as Mr Franklin stated was a certainty, there is often confusion.

Posted: 18/11/2016 10:30:22 AM by Julie Ferguson | with 4 comments

Why do Software Companies have such a hold on us!

Personally I love the affection from the likes of QBO, MYOB, XERO, Receipt Bank and the many add-ons that our business embraces.

I remember phoning MYOB (approximately 6 years ago) and I was not treated well at all.  In fact I was advised I was using their software illegally and unless I ceased using the 40+ software files, which were given to me by MYOB over the years, I would be in breach of my licence. 

I am happy to report a different message today and I LOVE my MYOB representative and their cloud products are coming along nicely.

So, back to the question at hand; why do software companies have such a hold over the Bookkeeping community?  I personally believe it’s because most bookkeepers are isolationists and work predominately from home in a safe environment.  They don’t do a lot networking, their leads come from word of mouth or accountants - we don’t get out much is what I saying.

Posted: 5/11/2016 5:31:56 PM by Julie Ferguson | with 1 comments

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