modernbookkeepingbymel

modernbookkeepingbymel Modern Bookkeeping to make your life easier! All types of small business are welcome 🤝

This has got to be one of the most common mistakes we see in the real world of bookkeeping!!!Keep your personal vs bus...
06/06/2023



This has got to be one of the most common mistakes we see in the real world of bookkeeping!!!

Keep your personal vs business expenses SEPARATE.

I can’t stress on this enough.. Here are some reasons why;

1️⃣ When you start mixing personal expenses with your business, it can make it difficult to track what your business expenses were at the time of purchase.

2️⃣ It can have an impact on your cash flow. Using your business for personal items can affect the flow of how much cash is coming or out, so it can make it difficult to determine whether your cash flow is strong, where it needs to be or not enough.

3️⃣ You cannot claim personal deductions for your business. I’ll repeat that again 😂 CANNOT claim personal items for business deductions. You can refer to your Accountant or to the ATO website for more information on what is deductible/ not.

In all honesty, the first step you want to take when starting out or running a business is keep your business account and personal account seperate.

Would you agree? Comment below on your thoughts around this 😉

Whatever it is that you’re working towards, never give up!Having a Bookkeeping business was always something I wanted to...
04/06/2023

Whatever it is that you’re working towards, never give up!

Having a Bookkeeping business was always something I wanted to.
I was constantly doubting myself because I didn’t have the experience or thought I wasn’t qualified. I reached out to Accountants that I thought would help me through the process and funnily enough they somehow would sway me out of it. At one stage, I actually did give up and found myself running an invitation business, but found myself not enjoying it as much. But deep down I knew I had to listen to my inner self and just go for what I really wanted to do… and now I’m here 😊

I know I’m still at the very beginning of my journey, but I’m taking those small steps to achieve my dream.

The only advice I can give you is, don’t give up 🤍

🥁 Our monthly offer for June is now open 😊Book now for a “FREE” review of your financials to help you prepare for 1 July...
01/06/2023

🥁 Our monthly offer for June is now open 😊

Book now for a “FREE” review of your financials to help you prepare for 1 July 2023.

This is the perfect time for you to review your business expenses, what your goals were, your achievements, your sales/ revenue and what’s working/ not working.

Send me a DM to find out more or alternativaly book your consultation via the link in my bio.

I often get asked why I never pursued a career in Accounting or continued to study once I graduated with my major in Acc...
29/05/2023

I often get asked why I never pursued a career in Accounting or continued to study once I graduated with my major in Accounting at La Trobe University back in 2014.

So here’s the truth…

1. I always look at detail.. what I mean by this is that I often find myself going into the nitty gritty of things I’m looking at. Accountants generally don’t go into the detail that a Bookkeeper would.

2. I have a passion for numbers and problem solving. Numbers are my world 🌎 yes I’m that odd one in the group (the nerd 😂) that will sit there for hours until I solve the problem. Bookkeepers are always completing reconciliations and will figure out what is missing, or why the numbers aren’t adding up!

3. I find there is a massive gap in Australia for Bookkeepers compared to other countries around the world. A lot of small business owners rely on their Accountants to complete their bookkeeping, however there’s a big difference between what an Accountant can do and what a Bookkeeper can do (I’ll be sharing another post on this separately).

I would love to hear how you decided to start your small business. Comment below to share your PASSION

Happy Monday 🥰

Happy Monday 🤍
02/04/2023

Happy Monday 🤍

It's the start of a new month... and a new quarter...which means you're not too late to get up to date and get your busi...
28/02/2023

It's the start of a new month... and a new quarter...
which means you're not too late to get up to date and get your business in order.

Not too sure where to start? Book in your discovery call now, link in BIO.

Oh God! You’re probably wondering where the hell I’ve been for the past month… I don’t even know where to begin, but I w...
24/02/2023

Oh God! You’re probably wondering where the hell I’ve been for the past month… I don’t even know where to begin, but I will save that for another post when everything has settled down.

Just thought I would post a friendly reminder about your Q2 BAS being due by 28th February!

You don’t want to submit late, as penalties may apply. You can refer to the ATO website for more information.

Have any questions, feel free to DM me 😘

Hoping you all have a wonderful weekend ❤️

🔔 It’s that time of the year again! Q2 has ended for 2022- 2023 financial year. BASs are due by 28 February which seems ...
10/01/2023

🔔 It’s that time of the year again!

Q2 has ended for 2022- 2023 financial year. BASs are due by 28 February which seems ages away, but will creep up so quickly before you even know it.

Don’t make the mistake of leaving it to the last minute, start NOW!

If you need some guidance on how to get started, swipe next to view my quarterly checklist of tasks required to help you complete your quarterly bookkeeping/ BAS prep.

Or just send me a message below to see how I can help!

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