Viewing by month: May 2013

Green tips for every office

In recent years, the idea of “going green” has taken off in the corporate world. In addition to helping the environment, the introduction of ‘green’ workplace practices may help to achieve some considerable costs savings for your business. With that said, here are four tips to help you make your office a more environmentally friendly workplace: 

1) Sustainable food practices: you may want to consider providing dishcloths as opposed to paper towels to dry cups, plates and cutlery. This will allow your office to not only save on paper towels, but also produce less waste on a day-to-day basis; 

2) Recycled paper and sustainable printing: many office supply stores now offer recycled printing paper that is comparable to standard paper varieties in both quality and cost. Certain printers also offer an ‘eco-print’ function that not only saves ink and/or toner, but also reduces the energy used to print documents – often without sacrificing quality. Consider these alternatives and you may find that your bottom-line – as well as the environment – benefits;

3) Bring green elements indoors: welcoming a few carefully selected plants into your office may have a significant impact on your green initiatives. Plants work to filter out pollutants present in atmosphere and improve the quality of air;

4) Shut computers down properly: your office’s energy consumption will likely be high if your employees leave desktop computers on overnight. As such, it is important to remind staff members to be diligent when shutting down their computers properly. Not only will your costs likely minimise, but the environment will benefit as well. 

0 comments | Posted by George Tarbey on 30/05/2013 at 12:00 AM | Categories:

Preparing your business for the end of financial year

With the end of financial year drawing closer, you may want to consider preparing your business’ financials sooner rather than later, so as to avoid a mad rush come June 30. The following three tips are aimed at helping you to make tax time a relatively smooth and stress-free experience:  

1) Pay superannuation on time: contributions that you make to your employees’ superannuation can be written off as a tax deduction. However, if you intend to claim such, your payments must be processed before June 30. If your payments are not processed by this date, your business will not be able to claim the deduction until the following financial year; 

2) File consistently: by not implementing a sound and consistent method of filing, your business can run the risk of facing liability should an audit occur. As such, it is important to properly organise and file your financial statements and supporting documentation including, but not limited to: bank statements; receipts; loans statements; and business activity statements;

3) Be prepared for an audit: each state has its own auditing body and, as such, businesses and individuals can be called upon to submit to an audit. An audit is a process whereby a business or individual is randomly selected to undergo financial scrutiny, wherein their records, accounts and all relevant documents are examined for anomalies or errors. 

If inconsistencies arise, there is a chance that businesses could incur additional costs – or an unexpected refund, in terms of overpayment. It is a requirement that cash expenses are accounted for by way of receipt. An audit can stretch back as far as seven years, so it is important to keep comprehensive records. Being prepared for an audit does not just mean filing consistently for the past financial year – it could mean filing for the past seven. 

0 comments | Posted by George Tarbey on 09/05/2013 at 12:00 AM | Categories: