Monthly Allocations: Why do I need bank statements when my accounting software has bank feeds?
At Business Wellness Hub, we ask our clients to do Monthly Allocations including sending their bank statements each month to us for reconciling. We could do a whole blog post just on this (and likely will in the future!), BUT the purpose of this Blog is to detail one of our most common questions; “Why do you need a copy of thebank statements when our accounting software hasbank feeds?”.
And the simplest answer is we need toverifythatallbank feeds have arrived. Sometimes a day can be missed, orduplicatesappear and these need to be corrected to not only ensure accurate records at BAS time but to ensure the business decisions that you make are backed by accurate data.
By reconciling the feeds to the bank statement, we can confirm the data is accurate.
At BAS time, havingmissinginformationonyourBASmaymean you are not reporting your GST correctly, and no onewantstohearaboutthisduringanaudit!
At...
Award-Winning MYOB Accountant - Congratulations Lynne!
Award-Winning MYOB Accountant
Congratulations Lynne on being the MYOB Certified Consultant of the Year!
We are absolutely honoured once again to receive another Award! This is our 2nd Award of the Year, and the 4th time being within the Finalist categories for Awards for the year!
What is a MYOB Certified Consultant?
A MYOB Certified Consultant is an Accountant or Bookkeeper that has been professionally endorsed and have exhibited a high level of knowledge, talent, and expertise with MYOB products. To be approved as a MYOB Certified Consultant, applicants must meet stringent screening criteria and submit to an annual review of their skills.
Why is it important to My Business?
Having a MYOB Certified Consultant supporting your Business will ensure that the best practices are followed, knowing that you have a well-educated, trained, trusted expert in their field taking care of your accounts, maintaining accuracy and consistency to ensure your business is compliant with...
How to Report JobKeeper Payments in MYOB AccountRight
Blog Updated 30/04/2020
As certified MYOB consultants, we have collated the latest information to create for you a simple step-by-step guide to reporting JobKeeper payments with MYOB AccountRight. The information has been copied from the MYOB help page.
MYOB has made a few changes to STP reporting to make reporting JobKeeper payments easier.
Information and updates are coming through thick and fast, and our help content is being updated with the latest information all the time, so check back regularly.
If you've previously set up the JOBKEEPER-START-FNxx pay item, it is recommended that you complete task 'Notify the ATO that you're starting to pay JobKeeper'. This ensures you will meet the ATO's reporting guidelines for JobKeeper.
Guides for other Software
In this Guide
How to Report Job Keeper Payments in MYOB Essentials
Blog Updated 30/04/2020
As certified MYOB consultants, we have collated the latest information to create for you a simple step-by-step guide to reporting JobKeeper payments with MYOB Essentials. The information has been copied from the MYOB help page.
MYOB has made a few changes to STP reporting to make reporting JobKeeper payments easier.
Information and updates are coming through thick and fast, and our help content is being updated with the latest information all the time, so check back regularly.
If you've previously set up the JOBKEEPER-START-FNxx pay item, it is recommended that you complete task 'Notify the ATO that you're starting to pay JobKeeper'. This ensures you will meet the ATO's reporting guidelines for JobKeeper.
Guides for other Software