compass

Goal setting

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A compass for your business

Goals provide a compass for our businesses and enable us to celebrate when we succeed.

Goals also help tie teams together with a common purpose.

Surprisingly, many business leaders cannot articulate a clear set of goals, yet goal-setting lays the foundation for strong business relationships.

Recently, we worked with a group of businesses to set goals in the areas mentioned below.

These goals are all related in interesting ways. It can take time to get clear on goals but the business benefits are substantial.

What are your business goals? Can we help you define your goals? Contact the team at Notch Above Bookkeeping on 1300  015 130.

goal setting infographic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

payroll

Payday super proposed

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Superannuation system update in consultation

Following a media release in May, the Government announced that from 1 July 2026, employers will be required to pay super for their employees at the same time as their salary and wages.

The start date will provide employers, super funds, payroll providers and other parts of the superannuation system with sufficient time to prepare for the change. This is not yet law.

Treasury and the ATO will consult closely with industry and stakeholders on these changes in the second half of 2023. This measure is aimed at closing the gap on billions of dollars in unpaid super.

The upside for small business is the bank account better reflecting the actual cash flow position. With most accounting software packages heavy lifting the additional administration required, employers who outsource their payroll will face additional compliance costs.

For more information, see the Hon Stephen Jones MP joint media release here or contact our team at Notch Above.

Certified Xero Bookkeepers

Notch Above Bookkeeping are Certified Xero bookkeepers and feature agreed-price monthly fees so you know exactly where you stand. No hidden extras and no ticking clock. Browse our range of Xero bookkeeping services below and get in touch today to discuss the plan which best suits the needs of your business.

Moving to new Xero Reports

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Xero is retiring older versions of their reports in July

Xero will be transitioning some favourite ‘starred’ reports from the old version to the new version.

When users click on these reports in their favourites list, they will be automatically redirected to the new version of that report. This change is being made because Xero is retiring older versions of their reports on 31 July 2023 and they want to ensure that Xero users are prepared.

The new versions offer more flexibility and customisation, quicker access to insights and deeper analysis of business performance. Xero is aware that this change may take some time to get used to and is giving users plenty of time to make the switch.

Using new Xero Reports

Xero is urging users who haven’t yet switched to new reports to start moving their work across now. This way, there is time to adjust before older versions are retired:

  • Users can take a product tour of some of Xero’s most popular reports, such as the new Profit & Loss or Balance Sheet reports, and find a tips and tricks panel on the right-hand side showing links to support articles and how-to videos
  • Check out Xero’s reporting playlist on YouTube for help tailoring reports in Xero
  • Start using Xero’s layout importer tool in the Profit & Loss, Balance Sheet and Budget Variance reports to bring saved layouts across to new versions
  • If needed, users can return to the older versions via the overflow menu in the Report Centre until 31 July 2023.

Read full Xero article here »

Certified Xero Bookkeepers

Notch Above Bookkeeping are Certified Xero bookkeepers and feature agreed-price monthly fees so you know exactly where you stand. No hidden extras and no ticking clock. Browse our range of Xero bookkeeping services below and get in touch today to discuss the plan which best suits the needs of your business.