As a business matures, there comes a time when more sophisticated financial governance will be required. This often occurs when the business is on the cusp of significant growth, has ambitious goals, may be held back by limited insights into their financial situation, or is experiencing issues with cash flow, costs or profit. Whether your business is looking to take...

Under new changes to the Corporations Act 2001 (Cth) and the Treasury Law Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth), Australian company directors are now required to verify their identity through a new director identification number (director ID) requirement. These changes came into effect on 1 November 2021. What is a director ID? A director ID is a...

If you’re considering outsourcing your bookkeeping, there are several benefits beyond simply saving your business time and money. When handled in-house, bookkeeping is often managed by someone without an accounting background or if they do have an accounting background they may be more junior. This can limit what you can achieve through your bookkeeping. When bookkeeping is outsourced to experts...

Competing with companies from across the globe, Keeping Company was named the winner of a Bronze Stevie® Award in the ‘Business or Professional Services – Small’ category in The 18th Annual International Business Awards®. The International Business Awards are the world’s premier business awards program. All individuals and organisations worldwide – public and private, for-profit and non-profit, large and small...

The COVID-19 pandemic has created some of the most challenging circumstances modern businesses have ever faced. From economic uncertainty, to navigating lockdown restrictions, businesses have had to quickly adapt and pivot to survive. The conditions have intensified some of the more common accounting challenges businesses face. Here’s how you can approach these challenges and find solutions. Cash flow bottlenecks Cash...

Running a profitable, high-performing business is challenging. Even great businesses may experience underperformance, financial pressure and mounting debts at one point or another. If this is the case in your business, insolvency may not be your only option. Instead, it may be time to initiate a turnaround strategy. What is a business turnaround strategy? Designed to restore a business to...

If your business has been adversely impacted by the recent lockdown in NSW, support is coming. The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more. Up to $15,000 through the expanded NSW 2021 COVID-19 business grants program Up to $10,000 cashflow support per week NSW micro...

With unique regulatory, governance and compliance requirements, it’s essential that not for profit organisations (NFPs) are demonstrating best practice when it comes to not for profit accounting. Without this expertise, the NFP can quickly become non compliant or their financial performance may suffer. Most NFPs will seek to delegate their not for profit accounting to outsourced accounting services. The benefit...