Minimal Accountant Pty Ltd

21/05/2025

🚀 Business Growth Unlocked! 📈

In just 1 year, we've experienced exponential growth — all thanks to our journey with Xero Partner 🌟

From Bronze → Silver → Gold in record time! 🥉➡️🥈➡️🥇

This milestone reflects our commitment to excellence, innovation, and helping clients thrive with cloud-based accounting solutions. 💼✨

Thank you to our team, clients, and Xero for being part of this incredible journey! 🙌

11/06/2024

ASIC FEES INCREASED FROM 01 JULY 2024

Company annual review increased from $310 to $321
Late payment fee increased to $96 for payment is received within 1 month after due date and $401 for payment later than 1 month

Check out link in comments for more details 👇👇👇

11/06/2024

29/05/2024

Good bookkeeping is the backbone of a healthy business.

That's why we're sharing some essential do's and don'ts to help you maintain thorough and accurate financial records when it comes to recording cash in your business.

Found this helpful? Share this post and save it for later!

27/05/2024

The chart of accounts (COA) essentially serves as an index of all financial transactions that a business records in its accounting system.

It categorises financial data into accounts, making it easier to organise and present in financial statements.

However, a poorly designed or improperly structured chart of accounts can lead to numerous problems, including the incorrect categorisation of transactions.

Here’s how a bad chart of accounts might lead to such issues and steps to correct and improve the situation.

A well-structured chart of accounts not only prevents the misclassification of transactions but also enhances the overall decision-making process by providing clearer insights into financial data.

Found this helpful? Don't forget to follow for more tips like this!

26/05/2024

Ever wondered about the distinction between owner's drawings and salary?

To help answer this question, we’ve broken down the differences between an owner’s drawings and a salary in this post.

As a reminder the decision to take a salary or an owner's drawing depends on the specific circumstances of your business and your financial situation.

The business structure of your business can impact your ability to take an owner's drawing or a salary.

For example, as a sole trader, you are not considered an employee of your business. Instead, you are the business. You take money from the business as personal drawings, which are not considered a wage or salary.

If your business is structured as a company, you can be an employee of the company and receive a salary.

Not accurately recording your owner's drawings or salary?

Schedule a call with us today to ensure your financial records are accurate and your business stays on track!

25/05/2024

🌞 Good morning, business owners! How does your perfect morning look?

We know every entrepreneur has their unique start to the day that sets them up for success. Comment below!

23/05/2024

Small business owners are NOT expected to be an expert in the finance, accounting, and legal side of the business, which is why there are professionals like accountants, bankers and lawyers out there.

Money spent wisely on a good bookkeeper, CPA and lawyer will be returned in multiples of extra profit.

You can have better insights into your financial performance through our bookkeeping services. Ready to learn more, let's chat!

22/05/2024

Being an entrepreneur isn't easy—it takes a mix of the right skills, a lot of grit, and a little bit of boldness to really make it work.

Here’s a quick guide to the essential skills every entrepreneur should cultivate.

Which of these skills are you focusing on developing this month?

21/05/2024

When it comes to the way we interact with money, our mindset has a lot more to do with our financial success than we might think.

Your mindset can impact the decisions you make about money, specifically how much you make, how and if you save, and how you spend money.

By shifting from "spend" to "invest," you start evaluating your actions not just by what they cost you now but by what they return in the future.

This mindset can lead to more thoughtful and beneficial decisions in various aspects of life, including business finances, time management, and personal growth development.

Ready to invest in financial clarity in your business?

Investing in financial clarity isn't just about organising your books—it's about setting the foundation for sustained growth and success.

To learn more about how we can help, book a call today!