The Accounting Department Blog

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Is your outsourcing provider adding value to your business?

By:

David Payne

01/07/2016

Recruitment companies that have outsourced their non-core business activities to third parties should take the time to evaluate what they are really paying for, and determine whether they are really getting value for money.


I have been travelling the country as part of the Recruitment Yarns roadshow, where owners of recruitment businesses have the opportunity to spend a couple of hours with industry leaders addressing some burning...

Using an online superannuation clearing house

By:

David Payne

01/06/2016

Superannuation laws are always changing. As a business owner, it can be difficult to keep up to date with these changes in legislation, on top of the myriad of other duties and responsibilities. This is particularly the case in recruitment on-hire businesses, where a large turnover of temporary staff can result in larger companies having to pay superannuation into more than fifty different super funds each and every pay run. This, along with...

Recruitment Yarns off to a flyer!

By:

David Payne

13/05/2016

Well what a fantastic start we have had to the inaugural Recruitment Yarns Business Series for 2016!


Over the past two weeks I have been participating as a host of Recruitment Yarns. So far we have hit Perth, Adelaide and Brisbane and we have had an enormously positive response, receiving great support from the local recruitment industries in each State and receiving a lot of positive feedback from those who attended.


When I was...

Do your people really have the right skills to manage your cashflow?

By:

David Payne

29/04/2016

Your people are your greatest asset if you are the owner of a recruitment on-hire business, and it is absolutely critical that they are paid on-time, every time. The last thing you want to do is get the balance wrong and miss your payroll deadline. As a business owner, you must have the confidence that your people can cope with rapid growth as a result of landing a big contract. 


Not many...

Five signs you may be outgrowing your bookkeeper

By:

David Payne

20/04/2016

Many business owners when first setting up their business decide to hire a bookkeeper to take care of the time-consuming tasks involved in processing financial transactions. Some bookkeepers even become involved in processing the payroll, despite this being a specific area of expertise in its own right.


As your business grows, your accounting and financial reporting needs will also grow. You will need access to more sophisticated data...

Keeping your funder informed

By:

David Payne

18/04/2016

If you want your finance provider to do the right thing by you, it is important to do the right thing by them—while it may be tempting to put on those rose-coloured glasses in the current market, you must be honest and keep the bank accurately informed of your business performance.


If your business is not meeting its targets do not leave it too late to inform your funder. Don’t wait until you have exceeded your funding limits or let...

Beg, borrow or steal – make sure you pay your super on time!

By:

David Payne

25/08/2015

You probably already know that directors of companies are held personally liable for any unpaid superannuation. But did you know that if your superannuation is not paid by the due date, the payment will become non-deductible?


What this means is that the $100,000 quarterly superannuation paid late, will cost you a further $30,000 of income tax, thereby increasing the cost of superannuation from 9.5% to 12.35% - given that people are...

Secrets to running a lucrative temp desk

By:

David Payne

06/05/2014

Sophie Robertson has launched her book "Secrets to Running a Lucrative Temp Desk" in Perth at an event proudly sponsored by Book Builders and NAB.


Perth recruitment professionals came together to hear from one of Australia's leading experts in the recruitment industry in Sophie Robertson, as well as others involved in the industry including Greg Kerr, Director of Supply Chain Finance WA at NAB, Tony Metcalf, former owner of Compass...

The Sky is the limit!

By:

David Payne

22/04/2014

Whether you are starting up a temp business, or wanting to grow your existing recruitment business, getting the funding right is crucial to ensuring your long term success and sustainability. Funders will typically lend up to 80% of an invoice (including the GST amount), depending on your clients and the percentage that each of them makes up of the total of your receivables ledger.


The good news is that depending on your margin, this...

Lights, Camera, Action!

By:

David Payne

21/05/2014

Following the recent successful Perth launch of Sophie Robertson's book, SECRETS TO RUNNING A LUCRATIVE TEMP DESK, we are proud to present the film from the event. Thank you to all who came and helped make the launch a great success and a night to remember!


Sophie's book is available for purchase here.

Mention "Book Builders" in the comment box and use the coupon code "book launch" to receive a 10%...

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