Accounting On Purpose

Not sure if you need a social media budget? Or how to work out your social media budget? Let me talk you through what I think needs to be considered when creating a social media marketing budget.

Firstly, there is no one size fits all with a marketing budget or advertising budget. Every business has different overheads, expenses, capital and profit margins and so coming up with your first marketing budget is going to look different to anyone else’s.

In this episode I am going to offer you some thoughts as you move into creating a marketing budget plan. We will look at what is a marketing budget, how do you quantify the value of your campaigns and a few other things so that you can go into your decision making clear headed and confident. 

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

As we head into the end of one financial year and into the next, I want to share with you common mistakes I see businesses make when doing their annual budget planning. 

As you put together your new annual budget, I want you to consider how you’ve been using your budget in the past. Have you been rigid and following your budget as if it’s law? Or can you find some room for flexibility as you sit down to your annual budget preparation? This is just one of the mistakes I see in business annual budget planning.

Budgeting mistakes have very little to do with the numbers themselves and everything to do with your approach to budgeting and forecasting. Your business budget is much like anything else in your business - open to improvement and change where necessary.

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

It’s that time of year again when annual budget planning is at the forefront of our minds as small businesses. If you’ve never created an annual budget, now is the time.

Annual budget preparation isn’t difficult but when it does come to annual budget planning there are some considerations to ensure we are budgeting and forecasting in the best possible way.

I will be walking you through some of these considerations in your annual budget planning so your business budget is set for the new financial year! Small business budgeting isn’t too difficult but most businesses don’t do them. They’re a great way for you to see where you need to invest or pull back on spending as well as show you trends you may not have picked up on.

This episode will also give you some tips on how to budget a small business if you’ve never had experience in it as well as giving you the foundations for your small business budget plan.

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Have you ever wondered what is corporate social responsibility in business and does it do anything or is it merely a title? Let me dive into it here with a quick ‘corporate social responsibility explained’ piece.

Corporate social responsibility is an interesting topic because once upon a time it wasn’t even a thing. The reason it wasn’t a thing was because business was all about social responsibility. Commerce was literally designed to benefit and bring value to the community.

So, in this episode I want to take you through what is corporate social responsibility and how you can participate. We will look at the social responsibility of business and whether it’s good or bad and next steps from here.

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

If you’re a business owner you’ve probably wondered what is fringe benefits tax at some point. In this episode I explain in depth exactly what fringe benefits tax is and how the fringe benefits tax in Australia works.

In order to understand fringe benefits tax you first need to understand exactly what is a fringe benefit. Fringe benefits are a non monetary benefit that an employer uses to go over and above for their staff (essentially). It’s a way of incentivising, rewarding or thanking without adding to their current income and thereby creating more business and income tax.

In this episode I also want to show you how fringe benefits tax and not-for-profits are often overlooked but potentially beneficial to you as a not for profit. 

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Have you been thinking about changing accounting software in Australia? Is your current system not up to scratch?

The best accounting software is going to be the one that adequately meets your needs, is user friendly and your staff are trained in! It doesn’t matter what you use, if your staff aren’t trained in it then every software will be inefficient and ineffective.

If you’re thinking about changing your software system then the thoughts, questions and ideas posed in this episode will help you figure out which accounting software is best for small businesses and you.

Instead of asking which accounting software is best, ask yourself why you’re changing systems. Do you simply need more training? Do you feel as though there isn’t enough reporting? Is this accounting software difficult, clunky or does it have bad UX? Any accounting software for small business is going to have a learning curve attached to it so bear that in mind as you consider changing. The same applies for accounting software for large business and accounting software for nonprofits.

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Have you been wondering what exactly are business assets? I’m going to walk you through typical business assets, what are assets, features of assets, the definition of assets, what are assets in accounting and how to apply this to your financials. 

Sometimes it can be difficult to understand exactly what are assets in accounting so I aim to simplify that understanding for you. Understanding assets and liabilities is important for accounting basics in Australia so if you’re new to assets accounting and you want assets explained then grab a pen and paper and take notes.

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Have you ever wondered what the difference is between a bookkeeper vs accountant? 

I am often asked, accountant vs bookkeeper - which one do I get? Or what does a bookkeeper do? And what does an accountant do? So that’s why I decided to put this accounting vs bookkeeping episode together for you today.

Bookkeepers and accountants work together but they are not the same thing. So we shouldn’t approach it like ‘bookkeeping vs accounting’ but rather we should consider ‘when do I need a bookkeeper?’ And ‘when do I need an accountant?’

The bookkeeping vs accounting difference really boils down to the short term vs the long term view of your business finances. You may even have a bookkeeper accounting for you too! A lot of accountants do both. 

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Have you ever wondered what GST in Australia is? How does GST apply to your business? In this episode I walk you through what is GST in Australia but for the sake of having a preliminary understanding, if you asked me what is GST? I’d say that it is a goods and services tax that you need to pay in Australia as your revenue hits a certain threshold. 

We will look at the benefits of GST registration as well as some of the downfalls. We will look at the types of businesses that need to apply for and know all about GST straight away and the ones that can wait until they have a certain turnover. 

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Accounting for non-profit organisations is a little different than looking after regular for profit organisations. 

In this episode I look at the two big things both parties must be aware of when accounting for not for profit organisations. As an accountant in Australia I want to make it as easy as possible for NFPs to make good decisions about who they work with by having an understanding of what’s involved.

Whether it’s church accounting or charity accounting or any other different types of not for profit accounting this video will help you get a handle on what should be a priority for both the accountant and the not for profit. 

Connect with me on LinkedIn or visit our website rightsource.com.au

Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.

If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.