Blogs

Wage Theft: What Australian Businesses Need to Know and How to Stay Compliant

Wage theft is now a criminal offence in Australia, marking a pivotal shift for businesses of all sizes. At Blackwood Bookkeeping, we understand that navigating these changes can feel overwhelming, but ensuring compliance is essential – not just to avoid penalties, but to build trust and maintain integrity. As your trusted financial partner, we’re here […]

Year in Review: Reflections, Achievements, and Learnings

As the year draws to a close, let’s take a moment to reflect on an incredible 2024 filled with growth, challenges, and significant milestones. This year was a transformative one for Blackwood Bookkeeping, and it wouldn’t have been possible without the unwavering commitment and passion of our team. Highlights of 2024 Blackwood Annual Conference in […]

Give Yourself the Gift of Rest This Christmas

Why Recharging is Crucial for Business Owners As Christmas approaches, the hustle and bustle of the season mirrors the pace many business owners maintain year-round. We all know someone – or maybe we’ve been that someone – who seems to have endless energy, constantly juggling tasks, pushing forward, and chasing goals. But at what cost? […]

Preparing for Christmas Cash Flow Challenges

With Christmas just around the corner, many business owners are already grappling with Christmas cash flow challenges. As the festive season approaches, managing cash flow becomes increasingly pressing. A Christmas shutdown can strain cash reserves, as income slows or stops altogether while expenses like rent, wages, and loan repayments continue. For small and medium-sized businesses, […]

How Santa Manages His Cash Flow: Lessons for Your Business

Christmas is a magical time, and no one knows how to manage the season better than Santa Claus himself. With a global operation, a team of elves, and a tight deadline, Santa runs one of the most complex “businesses” in the world. But how does he keep it all together – especially financially? This year, […]

Reduce Financial Stress Over the Holidays with People and Tech

The holiday season is a joyful time for many, but for business owners, it can also be a source of significant financial stress. Balancing reduced income with ongoing expenses like wages, rent, and supplier payments can be challenging, especially during a Christmas shutdown. However, with the right blend of technology and teamwork, you can minimise […]

Superannuation Compliance: Essential Tips for Employers

As a small business owner, keeping up with superannuation compliance is more important than ever. With the Australian Taxation Office (ATO) tightening its monitoring systems, staying on top of super payments isn’t just good practice – it’s essential! Here’s a rundown of what’s changing, why it matters, and the steps you can take to stay […]

ATO Debt Collection: What Small Businesses Need to Know

As a small business owner, you might have noticed the ATO debt collection took a back seat on during COVID-19. However, things have changed. We’ve seen the ATO switch gears towards a more proactive approach to collecting unpaid GST, PAYG and superannuation. It’s essential to stay ahead of these changes to avoid financial stress and […]

Eradicating Financial Stress Through Cash Flow Clarity

Cash flow is the lifeline of any business, and maintaining a healthy flow of funds is crucial for sustainable growth. At Blackwood Bookkeeping, we understand that managing cash flow effectively goes beyond keeping track of numbers – it directly impacts the well-being of business owners. Let’s dive into why cash flow matters and how we […]

Doubling Down on Purpose: Key Takeaways from Xero Roadshow

I recently had the opportunity to attend this year’s Xero Roadshow, and the theme that stood out was “Doubling Down on Purpose.” This year, it was all about how we can leverage technology to articulate our value to clients more effectively while reconnecting with the core reasons we chose this profession in the first place. […]

Tips for managing your business finances

When you run your small business, you’re probably wearing a number of hats and juggling lots of plates. That makes it tempting to let some tasks slide, especially tasks that are related to your business finances, which can be challenging and often outside your skill set. Here’s our top tips for managing your business finances, […]

The importance of bookkeeping

As a business owner, you’ll need to stay informed about your finances and your financial situation. You do this through bookkeeping. Bookkeeping is the process of recording transactions in your business. This includes any transactions, credit card charges and any other financial activity that happens within your company. How good bookkeeping helps you Bookkeeping is […]

New beginnings

Reflecting on 22 Years of Growth, Challenges, and Exciting New Beginnings After 22 years of running Miss Efficiency, we’re excited to announce a new beginning – Miss Efficiency has been acquired by Blackwood Advisory and has become Blackwood Bookkeeping. It’s been a remarkable and challenging ride, filled with ups and downs, milestones, and countless lessons […]

Construction project management tools

If you’re a contractor, it can be challenging to manage a hectic schedule and complex projects, all while ensuring your paperwork, documents, and contracts are in order; which is where good construction project management tools come into play. It’s important to keep a paper trail of your work and practice due diligence. Keeping all your […]

Balancing Business and Joy

As small business owners, we pour our hearts and souls into our business, often spending countless hours dedicated to our passion, and it can be difficult balancing business and joy. Business can become all-consuming, leading to tunnel vision and burnout, where we forget about other things that once brought us joy and balance. While being […]

Proactive superannuation planning: what you need to be aware of before June 30

As a small business owner, juggling multiple responsibilities is the norm. With June 30 fast approaching, understanding superannuation can save you a lot of headaches and potentially a lot of money. Let’s dive into the key aspects of superannuation you need to be aware of before the end of the financial year. Annual contribution limits […]

Navigating Cash Flow in Small Businesses

In the world of small business, positive cash flow is king. It’s the driving force that keeps your business engine running smoothly. But what happens when more money is going out than coming in? Cash flow problems can threaten the survival and growth of your business. Here’s some things you can do to ensure you […]

Unpacking the 2024 Federal Budget: What you need to know

When Treasurer Jim Chalmers handed down the 2024-25 Federal Budget on 14 May 2024, it was clear that the government had a diverse range of objectives. From offering tax cuts to supporting vulnerable groups, the budget is packed with measures aimed at stimulating economic growth and providing relief. Let’s unpack the key points from this […]