QuickBooks Desktop allows you to automate payment reminders so your customers receive timely prompts without you needing to manually follow up every week.  Why Payment Reminders Matter for Business Owners   Automated reminders free up hours of admin work and create a smoother payment experience for both you and your customers.   Other benefits include:  More consistent cash flow  Fewer overdue invoices  Faster payments without awkward follow ups  Better financial visibility 

Xero has a built in invoice reminder feature that helps you follow up on unpaid invoices automatically. Once set up, Xero sends gentle email nudges to your customers, so you get paid faster without chasing anyone manually.  If you want to free up your time, improve your cashflow and keep your invoicing process organised, this guide will walk you through everything you need to know.    Chasing unpaid invoices is one of the most time consuming parts of running a small business.

MYOB gives you a simple tool that helps you get paid faster without awkward follow ups. Invoice reminders take care of the chasing for you, so you can focus on growing your business instead of managing overdue invoices.  Let us walk through how it works and why every business owner should set this up.    Why Business Owners Should Care About MYOB Invoice Reminders   Late payments hurt your cash flow   For many business owners, delayed payments are not just annoying. They impa

1. Reconnect with Your Purpose and Vision   It is easy to get swept up in deadlines, client requests, staffing issues and day to day operations. When this happens, the deeper purpose behind your business can fade into the background.  Take time to reconnect with the reason you started the business in the first place. Ask yourself:  What impact do I want this business to create  What makes my approach different and valuable  What kind of team, client relationships and culture

Starting an IT consulting business can be exciting, especially if you already have strong technical skills and a desire to help businesses streamline their systems, improve security and work smarter with technology. But while the tech side may feel easy, the business and accounting side often catches new IT consultants off guard.    Many IT professionals move into consulting because of their expertise, but running a business requires a whole different skill set. Without the r

When your training directly relates to the work you do and helps you maintain or improve your skills, the ATO often allows you to claim a deduction.  This includes:  Seminars, conferences and training courses  Registration costs  Fares to attend the event such as flights or transport  Accommodation and meals if you need to stay away from home overnight to attend  Keep in mind, you cannot claim the private part of a trip if your travel includes both work and leisure.    What h

If you are a company director in Australia, you now need a Director Identification Number, often called a Director ID. Director IDs bring all company records together under one system, which makes it easier for regulators to confirm who is responsible for managing a company.    What Is a Director ID   A Director ID is a 15 digit number issued by the Australian Business Registry Services (ABRS).  You only ever receive one number and it remains the same even if you:  Move to a

1. Tax Planning and Flexibility   Sole Trader   Income is taxed at individual tax rates.  If your consulting income is high, you may find yourself in the upper tax brackets.  Simpler tax filings, but fewer planning tools.  Company   Income is taxed at the company tax rate (currently lower than the top individual brackets).  You can pay yourself through wages or dividends.  Offers more options for structured cash flow planning.    2. Personal Liability   Sole Trader   You and

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