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Posted October 31, 2017 No comments |Accounting, Business, Financial Services

Why should businesses invest in Xero training for employees?

With significant advancements in technology and proliferation of the digital world, businesses enjoy several advantages that were not available in the past. For instance, payroll, inventory management, bookkeeping, vendor management, logistics can be at the fingertips of business owners/CEOs when appropriate tools are chosen and optimized for their capabilities.

xero software logoIn this context, Xero positions itself as an accounting software that claims to be a class apart. Once employees of a business handling the bookkeeping functions are fully trained in using the Xero software, even individuals with no basic training in accounting or finance function can effectively take care of the bookkeeping needs of the business, according to Xero. Scalability is another great feature built into the software. This, in turn, means that the software keeps growing to cater to the growth of your business. Remember that when a business is on its growth trajectory, potentially more bookkeeping functions may be added to stay in tune with the enhanced needs. Businesses opt for a complete revamp of their bookkeeping software suit which obviously is expensive as well as time-consuming. With Xero, you can conveniently put this concern on the back burner since the software can be continuously tuned to the exacting needs of the business.

Though Xero is native to New Zealand and a little over a decade old, it has experienced exceptional growth in the Australian, European, UK and American markets. Xero has also won many accolades including recognition as the most innovative among growth companies in the world by Forbes magazine for 2 years in a row during 2014 and 2015. Briefly, Xero caters to the following functions of your business among others:-

  • Bank reconciliation
  • Expense claims
  • Financial reporting
  • Inventory
  • Invoicing – automatic creation and sending of invoices
  • Mobile apps (iPhone, Android/iPad)
  • Payroll
  • Online accounting – Accessible from anywhere
  • Purchase orders
  • Fixed assets
  • GST returns
  • Smart lists
  • Contacts – to keep track of customers and suppliers

According to Business Advice Specialists Group, the following are among the major benefits that you can expect from zero and therefore, it makes sense to ensure that your employees are trained to get the best out of this.

Centralized access to all your financial data

Data word With Xero as your bookkeeping software, accessing financial data of your business is literally at your fingertips. No more fumbling through different spreadsheets or search records to get what you need. If you are also someone who is constantly on the move, you will agree that global access to your financial data is more like carrying an entire office in your pockets.

Measuring business performance and profitability

When your financial data is constantly updated, the performance and profitability can be measured instantly. You can also generate a wide array of financial statements when needed including a P&L and Balance sheet. Budget variance reports, aged payables/receivables or any of the other reports that you may need even when you are distanced by thousands of miles from your usual business place can be accessed in minutes.

Making informed business decisions

By using your business information effectively, you have the ability to arrive at smart business decisions. For instance, you can analyze your campaign spend and understand its effectiveness before deciding on continuing with the campaign or otherwise. You can even raise a loan request to your bank using the Xero records generated from your account. With the records, it gets a lot easier for the bank to examine the viability of your request and make a quick decision.

Automating repetitive tasks

Many businesses tend to spend significant time in doing repetitive tasks. Xero helps to automate such tasks freeing up the time spent on those tasks for another productive deployment. For instance, if your business charges a subscription fee that is payable monthly or quarterly, your list can automatically receive renewal notice and reminders when the renewal is not made in time. This would, in turn, result in saving time as well as improve cash flow.

Access to multiple users

Xero can be accessed by all users authorized by the specific business seamlessly. This way, while the business owner focuses on cash flow, the Xero support team takes charge of issuing invoices, reconcile accounts, update expenses, and take care of filing statutory returns.


payroll file and calculator

When the small business starts scaling greater heights, proper payroll management becomes essential. Xero has a full suite of inbuilt features that provide complete payroll management that can be activated when needed.

Minimal risk

With all functions of book keeps getting updated in real time, business owners can get sound sleep and nearly forget about chances of any fraud or embezzlement. The home dashboard also provides quick alerts about unexpected/unplanned transactions so that unauthorized expenditure is stopped instantly.

Having examined the advantages that Xero brings to small as well as established businesses, getting the best out of Xero for your business needs appropriate training for your employees as well as the business owner/key personnel.

For instance, if your business handles multiple products and perhaps even multiple pack sizes with varying margins, invoicing is not only a priority but also time-consuming. But, Xero operators who are trained can navigate the software effectively eliminating wastage of time wading through the complex tasks in invoicing.

Similarly, payroll is another area that calls for accuracy as well as efficiency. With Xero, your employees gain the confidence that their earnings and entitlements are processed in a professional manner and delivered in time. Trained Xero professionals can also store your documents in the Xero files promoting paperless businesses.

Confident Xero operators can be a significant asset to your business about strategic planning, submitting tax returns on time, preparing your Profit & Loss Statement, Balance sheet and other reports that help the business owner monitor the business more efficiently.

Posted September 8, 2017 No comments |Energy

What makes commercial roofing different from home roofing?

Commercial roofing applies to premises such as hospitals, schools, shops, warehouses, business premises, airports, convention centres and the like.  The corrugated metal sheet is the most preferred roofing material for commercial applications across Australia. In recent times, Colorbond has established itself as a reliable brand for both domestic as well as commercial roofing needs.  Light weight, versatility and great resilience are among the primary attributes that have helped Colorbond gain acceptance from users across Australia.  

Unlike homes, most commercial properties have larger spans which mean that many traditional roofing products used in homes are not viable.  Wind conditions, proximity to sea or large water bodies are also among considerations that will influence the selection of roofing material for commercial applications.  Rubber roofing has gained significant traction in recent times for commercial roofing, though this can be considered for home roofing too.  In some cases, rubber roofing what Euro Solar offers could be an ideal solution to obtain green certification.

Other major factors influencing commercial roofing projects include time as well as budget. Most commercial roofing also chooses metal roofing because of its light weight, ease of installation and a full range of professional solutions.

Colorbond and Zincalume are among the popular options for commercial metal roofing. Both these products have excellent durability. However, with Colorbond you also can choose from a wide range of colours. Zincalume is offered only in one standard colour and is relatively more economical compared to Colorbond.

Apart from material selection, some of the important considerations that go into commercial roofing include:


Though some commercial buildings will have pitched roofs similar to homes, the thumb rule is a flat roof with the low incline. The square footage of most commercial roofs is also significantly more compared to residential roofs and therefore has specific design considerations.  Extra strength for supporting the weight of cooling/warming equipment and ventilation, as well as an implicit drainage system, are among these considerations.



Certain types of materials used in residential roofs also find application in commercial roofs. Black-top shingles and metal boards are prominent among these, particularly on slanted roofs in commercial buildings.  While the ‘low incline’ commercial roofs hold out well against the vagaries of climate, when it comes to leaks, it is generally without defence. Therefore, the material chosen should be significantly hardened to suit the larger areas.  This is also one reason why modified bitumen, built-up roofing and single-ply membranes are used to secure little incline commercial roofs.


Installing commercial roofs calls for professional expertise since the roofer must have the ability to work with the roofing material he is handling and addressing particular challenges in rendering flat roofs water tight through the effective introduction of flashing, proper sealing of welding creases and working around parapets and blocks to guarantee satisfactory drainage. He will also be expected to address issues related to ‘ponding’ and possible structural failure. To achieve all these, commercial roofers also need specialised equipment and adequately trained workforce.


Maintenance requirements are also distinct for commercial roofs. Membrane punctures, crease partitions, pounding, splitting and shrinkage are among the typical issues in a commercial roof.  Regular checks and appropriate maintenance are therefore necessary to retain the integrity of the roof and manage potential issues quickly. Remember also that roofs of all description are exposed to forces of nature 24x7x365. Oscillating between extreme temperatures, the wind, ice and snow your roof is expected to protect your building and the people inside unfailingly.  This is one more reason why regular maintenance is necessary for your roof.

Additionally, an annual maintenance program will extend the life cycle of your roofing system and allow you to undertake comprehensive repairs to prevent potential hardships.


Weather direction, climatic trends, and building codes are also among primary considerations while choosing commercial roofing products and roofers.  Geography can play a significant role regarding snow load, wind velocity, and annual rainfall. These factors can also potentially vary from one year to the other.  The orientation of the roof as well as trees in the neighbourhood shading the roof will also have an impact.

Use of the building

Roofing choice for a warehouse and a hospital are different. While a leak proof roof is needed in both the instances, the roof of a hospital should provide the comfortable environment for the patients as well as the staff.  Therefore, the best fit for a warehouse cannot be copied to a school or a shopping centre.

Posted September 5, 2017 No comments |Accounting

5 Reasons Why Your Business Needs An Accountant

Whether you’re a small start-up company or an established business, hiring a business accountant is essential for the welfare of your company. Many people are under the wrong impression that employing the services of an accountant is a luxury rather than a necessity. This kind of thinking might save you money on the short-term. But on the long-term, not having an accountant can turn out to be a very costly mistake.

Here are the main advantages of hiring an accountant for your business.

1. Keep Your Finances In Order

Bookkeeping can be a time-consuming and often boring task. If you don’t have the knack for it, then chances are that you’ll keep putting it off, procrastinating, and end up with a complicated mess as far as your finances go. Proper bookkeeping will make it easy for you to track your cash flow, know where and how your money is being used, and help you plan your business affairs better.

When you have a business accountant to take care of the bookkeeping, you will save a lot of time—time that can then be used in growing your business.

2. Avoid Tax Fines and Penalties

Having your own business means that you have to be on top of things at all times. Tax deadlines should not be missed; you should keep yourself updated on any new tax legislations that might affect you and your business.

Stack Of Files
Tax planning can be a frustrating task. Not only does it involve pouring over accounts for hours on end, but, if you’ve haven’t been organized with your bookkeeping, you might be in for a shock. Sometimes, the amount of tax you need to pay will be way above what you thought you owed. This happens as a result of bad bookkeeping where the finances were not meticulously tracked. If you want to avoid such hassles, then hiring a tax accountant is the way to go. Not only will an accountant do the paperwork, making your job so much easier, he/she will also be well aware of any changes in tax legislations and will update you about it. Knowing about such changes in advance means that you won’t be caught off-guard at the last minute.

3. Expand Your Business Faster

Experienced accountants are a wealth of financial information and wisdom. They can help guide you through your business decisions, evaluate potential projects to see what the probable outcomes would be and give you ideas on how to scale your business in the most efficient manner.

Calculator And A Pen On Graphing Paper

We live in a highly competitive, cutthroat world. Sometimes, a business might be making good profits in the first few years, but if it fails to expand and reach a bigger market, it can get eaten up by competitors. So, growing your business quickly is key to making your mark in the business world. An accountant can help you do this by giving you valuable advice and insight on all how you can grow your business.

4. Update Your Bookkeeping System

Gone are the days of bookkeeping ledgers and stacks of papers to keep track of your finances. We live in a digital world where everything is handled on the computer. Sure, you can get a bookkeeping software and try working with it. Or, you can hire an accountant who will know of all the best software available in the market and which one will be right for your business. Having an easy-to-use and navigate bookkeeping system in place will be a very efficient, time-saving manner to keep track of your financial business records.

5. Keep Your Taxes Down

Knowing the ins and outs of tax regulations and the legalities of it means that your accountant can help you save money by reducing your tax bill. The trick is to do it in a completely legal manner without any room for discrepancies. Only an expert who has an in-depth knowledge of taxation and corporate finance can do this.

These are just a few advantages that you gain when you rope in an accountant for your business. Accountants are so much more than just number crunchers. They can offer you timely advice when it comes to your business decisions, guide you in making the right investments and even be a valuable asset when it comes to networking and making new contacts in the business world. Not having an accountant can lead to a lot of complications when it’s time to grow your business, during the transition period where your business goes from a small startup to the next big thing in the business world. So, stay ahead of the curve by hiring an accountant.

wood hammer

Posted August 31, 2017 No comments |Business

Buying Liquidation stock from businesses that wind up

Tall building with glass windows

When some businesses go bust after rising to dizzy heights, it becomes difficult to find an appropriate suitor who will acquire the business and carry on as a going concern. In such situations, an administrator appointed by the liquidator’s office takes charge and puts on sale whatever goods the business has left. In many instances, this is a great opportunity to buy such goods and sell it through retailers. The business going into liquidation often has built up a brand value and you can expect to cash in on that. This is particularly true of non-perishable goods such as apparels and clothing.

How liquidation proceedings work

Let us take the example of Pumpkin Patch, which built up a decent business in children’s clothing. A mum who was shopping for children’s clothing spotted an opportunity and she was right in her perception. Pretty soon, Pumpkin Patch grew from a one location store to multi locations and transnational. In less than a decade the business had grown to command turnover close to $800 million dollars. But, soon afterwards, it started an irreversible journey to doom bringing up the liquidation proceedings now.

Clothing business is fiercely competitive in the global arena and surviving competition is not everyone’s cup of tea. The challenges for businesses seeking to grow fast and spread wings, the path is arduous. But, from a consumers‘ point of view, these businesses offer great opportunities in picking up some quality stuff at great prices. Liquidation stock, particularly in consumer nondurables and perhaps even some durables is also an opportunity for smart traders to quickly move in and make smart profits. Your ability to understand the merchandise and the relative market would be one of the significant drivers of your success. If you take Pumpkin Patch as a case study, the liquidation stock may be offered either at one central location, or you only get the right to access the stock at one or more store locations.

Selling liquidation stocks

Book on sale

When you are buying liquidation stocks in large volumes, you should also do adequate home work to ensure that you can quickly sell off what you buy. Even at great discounts, some stuff like apparels, footwear etc. can fail to attract retail customers for varying reasons. Therefore, if you are saddled with stocks that you cannot sell off quickly, your own business could be heading towards stagnation or in worst case scenarios you could lose the business itself.

Know before you leap

light bulb on black board

To benefit from liquidation stocks, you must do a thorough home work understanding the commodity you intend buying, its brand reputation, the condition of the material offered under liquidation, repacking and re-classification that may be needed. Look for pre-inspection clauses and remember that you might get only one opportunity to examine the condition of the material that you are buying. Look for visible signs of potential damage to the contents of boxes or pallets and ensure that you are not saddled with garbage at the end of the deal.