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Take a look at the latest articles from WestBAS

Take a look at the latest articles from WestBAS.

EOFY 2026: Prepare NOW and Start the New Financial Year with Confidence

For decades, the months heading towards the end of the financial year have traditionally been known for bringing anxiety into the hearts and minds of many Australian business owners. But it doesn’t have to be that way. If you start preparing now, the new financial year doesn’t need to be difficult. In fact, with a different perspective, it can give your business the opportunity to see where improvements can be made to systems and processes, as well as cash flow and budgeting. So let’s look at EOFY as a reset point: a time to clean up what needs cleaning, lock in better habits and set your business up so July doesn’t start with panic.

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KNOWING YOUR NUMBERS CAN LEAD TO BETTER BUSINESS DECISIONS

Business owners have more financial information at their fingertips than ever before. Your accounting software is quietly producing reports every month: Profit and Loss, Balance Sheet, Cashflow/budget comparisons, and tracking categories that offer useful snapshots of your business’ performance. Access to data is rarely an issue, but what some business owners find difficult is knowing how to use that data and leverage the information. The real value of knowing your numbers is not in the reports themselves, but in the insight those numbers can provide, allowing you to make better business decisions.

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Online-Security-for-Business-Owners-From-a-Bookkeepers-Perspective

In 2026, it’s fair to say most business owners think their business and accounting files are ‘secure.’ They’ve put in place cyber security with their IT guys and updated some procedures for employees to be aware of. However, criminals are coming up with impressively innovative scams, and businesses can quickly change from thriving to scrambling when online security slips. The problem for business owners is that every invoice, payroll run, and supplier email is a potential entry point for scammers. As a business owner, you can’t just put procedures in place – you must be continually diligent with your cyber security.

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ATO Compliance Risks : What Every SME Business Needs to Know in 2026

For many small and medium-sized businesses in Australia, the ATO has been a constant pressure on cash-flow, always seemingly a step ahead when it comes to compliance. And in 2026, this will only become more enhanced. With smart data matching, AI technology and tighter laws, this year, the ATO is raising the bar. The ATO has been given stronger powers to gather information, and with technology working harder than ever behind the scenes, there’s no chance of ‘flying under the radar.’ Businesses in Australia must face the reality, that the ATO is watching, and it’s never been easier for them to spot compliance errors or inconsistencies.

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What’s The One Change Every Small Business Should Make in 2026? Strengthen Your Internal Controls

With the chaos of the holiday season slowly getting back to normal, the start of the new year is the perfect time to hit pause, take stock… and get serious about the business of ‘working on’ your business. It’s the perfect opportunity to get back to basics and evaluate your internal processes, picking up any small cracks in systems, policies or procedures before they become a problem. It could mean the difference between a smooth year ahead or a string of headaches. Whether it’s tightening up how you approve payments, locking down your digital files or making sure everyone knows and understands changes in policies and procedures, reviewing your internal controls can set you up for fewer surprises and more peace of mind throughout the rest of the year. So, let’s look at a few areas where it’s essential to have strong internal processes. And if you don’t have these checks in place already, then consider how these few simple steps can make a huge difference to your business security.

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Using Holiday Downtime to Strengthen Your Systems

This time of year can often feel like a strange mix of chaos and quiet. You might be racing to meet pre Christmas deadlines, juggling staff leave and trying to squeeze in a break yourself, but at the same time, day to day activity in the business can ease off, with so many people taking holidays well into January. So, if your business is one that slows down just before Christmas and into the New Year, think of it as a valuable opportunity to assess and update your systems and processes. Instead of just promising yourself that you’ll ‘get organised next year,’ why not use the time to strengthen the systems that support your finances, your people and your compliance. Here are some practical areas to focus on, so you can start the New Year with clarity, control and confidence.

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‘Annualised Salaries’ Are Out — What Small Businesses Need to Know

A recent Federal Court ruling (regarding the case between the Fair Work Ombudsman versus Woolworths) is having a profound effect on payroll and bookkeeping compliance in Australia. While headlines commenting on this ruling are focussing on large corporations, the consequences for small businesses, NDIS providers and Not-for-Profit organisations are significant. Small businesses already navigating tight budgets, funding rules and staffing challenges, will now be expected to ensure their policies, procedures and operations are compliant with the ruling. This decision isn’t just about wage accuracy, employers must now consider how every hour of work is recorded, valued and verified. Particularly for NDIS providers, with NDIS funding audits and service delivery obligations, this ruling now adds another layer of complexity. For many SMEs, NDIS and Not-for-Profit organisations, these changes will make the fine balance between compliance and providing cost-efficient services even harder to maintain.

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Award Compliance: How To Ensure You Pay Your Staff Correctly

In Australia, ensuring employees are paid correctly is a legal and ethical obligation. For some industries, such as Not-for-Profits and NDIS providers, the challenge is even greater, with many roles covered by complex modern awards and varying entitlements. Even minor unintentional errors can expose organisations to significant financial and reputational risk. Award compliance matters, and this article outlines the risks of underpayment (including wage theft penalties), and some practical steps to keep your payroll on track.

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The-Impact-of-Superannuation-Late-Payments

Think superannuation is just a box to tick every quarter? Something your payroll software calculates perfectly without your input? Well, think again. While it’s easy to see super as just another payroll obligation, there’s far more to it than meets the eye. Beyond the 12% payment (Yes, it’s now 12%), there’s a web of timing rules, compliance risks and overlooked responsibilities, some of which can have significant consequences for business owners. For this blog, we’re going to focus specifically on ‘late payments.’ Understanding the legislation around late super payments can be the difference between smooth sailing and an unexpected ATO headache. So, let’s break it down into most important facts you need to know.

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EOFY COUNTDOWN – 5 SIMPLE WAYS TO ENSURE YOUR BUSINESS IS READY

Yes, it’s that time of year once again – June 30 is approaching fast. And as much as we know it’s coming, we’re often not as prepared as we’d like to be. In our experience, we see a high percentage of business owners start to panic at the beginning of June - their minds racing with all the things that need to be considered. Yet this sort of thinking doesn’t get things done or help you to be better prepared. So, what’s our recommendation? Make yourself a checklist either on paper, excel or in another software package, and systematically work through it. This will help you relieve your EOFY stress and see you fully prepared. And to support you to create your checklist, we’ve put together the five most important factors every business should consider when approaching the new financial year.

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Audit Essentials : What every NFP needs to know

“Financial audit” are often words that can create panic in Australian organisations. But please remain calm, as particularly for Not-For-Profit organisations (NFPs), they’re a crucial part of maintaining transparency, accountability, and trust in the community – as well as adhering to your ACNC requirements. So, do you fully understand your audit obligations? Requirements to lodge an annual financial information statement, review or full audit, depend on whether your NFP is a small, medium or large organisation. This ultimately comes down to your annual revenue and if you’re not sure, you can find out more here: https://www.acnc.gov.au/tools/topic-guides/charity-size Regardless of whether you’re facing an audit for the first time, or your organisation has been through the process many times before, preparation is ultimately the key to a smooth experience. Here’s a practical guide on how NFPs can best prepare for financial reporting and annual audits.

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Common Errors When Processing Payroll in the NDIS Industry

At WestBAS, one of our areas of expertise is bookkeeping for the NDIS industry. Over the past few months, we’ve noticed some common payroll issues that NDIS service providers experience. This complex area is often one of the reasons our new NDIS customers come to us for bookkeeping and payroll support. So, let’s look at the main issues that you, as an NDIS service provider, need to consider:

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Spotting ‘Bookkeeping Red Flags’ for NDIS Businesses - What You Need to Know

As an NDIS Service Provider, you’ve already experienced the stringent requirements to get started in the industry. With NDIS registration, audit, practice standards and the code of conduct to get through, you then must deal with the administrative side of things, including employee screening checks, full policies and procedures, insurances and strict compliance. With so much to consider, your bookkeeping can quickly become a minefield if not handled correctly. Add to that multiple people entering data in some cases, it can be easy for your bookkeeping to get out of control. But how can you tell if something isn’t quite right? Well, there are a few bookkeeping red flags you can look out for that could save you from costly mistakes, penalties or even reputational damage. So, in this article, we’re going to highlight some of the most common financial warning signs, specific to NDIS businesses. By being aware of these ‘red flags’, you'll be better equipped to maintain your financial health and compliance. Let’s dive into what you should be watching out for - and how to keep your finances on track.

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THE ROLE OF AUTOMATION IN SIMPLIFYING NDIS BOOKKEEPING AND PAYROLL

Are you an NDIS service provider still using spreadsheets for your wages and rosters? Are these tasks taking up valuable time that could instead be spent with clients? In our experience, it’s not unusual to see NDIS service providers using spreadsheets for a number of tasks. While this has worked well in the past, there are now a variety of automated software applications that can get admin tasks done much faster. And time is a commodity we all want more of, right? Managing finances and maintaining accurate records is critical when providing caring services within the National Disability Insurance Scheme (NDIS). However, the burden of administrative bookkeeping can sometimes overshadow the core goal of providing quality care and support to your clients. This is where automating your bookkeeping can streamline your tasks and processes, enabling you to focus on what truly matters.

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THE IMPORTANCE OF FINANCIAL TRANSPARENCY FOR NFP'S - Building Trust

As a leader in a Not-For-Profit organisation, it’s highly likely you rely on Donor Funding and Grant Providers to ensure your services continue to support people in the community. Finding ways to seamlessly fund services is an ongoing priority for NFPs, as you continually search for the funding that keeps your business alive. That’s why ensuring you provide full financial transparency to your current funding and Grant providers is essential. Demonstrating your financial competency could be the difference in making or breaking a deal that ensures continued funding of your services. Here’s our quick guide on why it’s so important to build trust with funding providers, and how financial transparency and competency can make a huge difference to the support and funding your organisation receives.

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PREPARING YOUR BUSINESS FOR THE NEW YEAR

Budget Smart Strategies for Making the Most of the Post-Christmas Holiday Period With all the fun and activity of the silly season, and hopefully, a busy time with lots of sales in the lead up to Christmas, it’s easy to forget that January can often be a quiet period when we get the chance to reflect on our personal and business and goals for the year ahead. The new year provides a great opportunity for business owners to assess performance, plan ahead and implement strategies for growth. With many of your customers likely taking time off, during January in particular, consider how you might use the extra time available to you for budgeting and goal-setting. To help you make the most of this period, we have pulled together some practical advice to help you prepare for a successful year ahead.

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IMPORTANT NEWS - Stop and Read this if you are making plans for the Christmas season!

Is it too early to mention Christmas? No! With Christmas only 7-ish weeks away there are some important things you need to know … especially if you are planning to close your business for a few days or more, or use skeleton staff for your business over the holidays. You’ll also need the information in this blog if you are planning to have any kind of Christmas celebration, whether that includes your employees, their spouse, contractors, clients and/or suppliers. So, let’s just jump straight in with some of the important information you’ll need.

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December is EOFY for many NFPs – Start preparing now!

If you’re one of the many Not-For-Profit organisations who have the month of December as your EOFY – it’s time to start preparing. Whether you have 30 June or 31 December as your EOFY, this information will be helpful, but if it is December, you don’t want to find yourself struggling to gather information when you’re distracted with Christmas, staff holidays and extended time away from the office. The end of the financial year can often seem overwhelming, but with proper planning, you can ensure your organisation remains compliant, financially healthy and well-positioned for future success. So, what can you do to ensure you are fully prepared?

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The Power of Efficient Bookkeeping Systems for Small Businesses

Managing finances is one of the most critical aspects of running a small business. Without the right processes in place, it can quickly become overwhelming, leading to errors, missed deadlines, and even cash flow issues. That's where an efficient bookkeeping system, and detailed internal processes and procedures, can make all the difference. By implementing these efficient processes, you can streamline your financial management, reduce the burden of paperwork, and ultimately focus on growing your business. Here are some key bookkeeping processes and systems that every small business should consider, in order to stay on top of their finances.

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5 Ways to Effectively Manage Your Small Business Debt

When you’re running a small business, it’s highly likely you’ll have some debt to manage. Whether that’s due to the purchase of essential assets required to run your business, like vehicles, plant and equipment or technology, or whether that debt is due to inconsistent cashflow, effective debt management is essential for peace of mind. Some debt can actually support your business growth if it’s managed well. That’s why finding effective debt management strategies can be a game-changer for your business.

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Budgets and Cashflow Forecasts – Why are they so important for your business?

The financial management of your business is important – right? And the new Financial Year, is the perfect time to be assessing your budget and cashflow forecast. Regardless of the service you provide or the product you sell, without a strong financial plan and an understanding of your financial management, you could end up working for little return for all the effort you put in. And as much as budgets and cashflow forecasts sound like something you can ‘put off for another day’ – we would caution you otherwise; know your financial position and know your goals! The terms budget and cashflow forecast are often used interchangeably, however, they refer to distinct concepts that play unique roles in the financial health of your organisation. Understanding the difference between budgets and cashflows is crucial for effective financial planning and management.

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Not For Profit Organisations & Acquittal Statements

When you’re in charge of an NFP, you’re often faced with many challenges to acquiring the funding necessary to operate your organisation and provide the services you’ve identified to support your community. Most NFPs are funded through donations and grants, and many of those grants are from various government departments, though some are through donations from philanthropic organisations or charities. This is dependent on the type of service your NFP supplies.

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Be Prepared - 7 Essential Strategies to Navigate EOFY with Ease

30th June is the day every small business owner and bookkeeper dreads! But why wait till the end of June to get your affairs in order. If you plan ahead and get most of the work done throughout the month of June, you’ll find all those dates and deadlines can be handled with ease and you’ll keep your stress to a minimum.

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WHY SO MANY NOT-FOR-PROFITS (NFPs) CHOOSE SALARY PACKAGING TO PAY THEIR EMPLOYEES

As an NFP organisation, getting funding to cover your everyday expenses while servicing your clients, can sometimes seem like an uphill battle where every penny counts. And employee wages, as well as enticing high quality personnel, can throw another spanner in the budgeting mix. So why wouldn’t you take advantage of salary packaging options to pay your employees? Offering salary packaging gives you more options when enticing staff who might command a high salary in the private sector. With salary packaging, your NFP organisation is on a more level playing field; when the organisation offers competitive salary packages, the employee can save money on their tax, which results in the same (or higher) net value on their wages. It’s a win-win situation.

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STOP PAYING GST ON YOUR OVERSEAS SUBSCRIPTIONS!

With technology moving forward so quickly, it’s my experience that many businesses are now paying a significant amount in expenses to monthly subscriptions and digital products. Many of these digital software providers are based overseas and therefore do not supply you with a ‘tax invoice’ including an ABN. However, overseas subscription providers have a complex relationship with the ATO. Since 2017, international corporations, such as Google, Adobe and Netflix, as well as smaller software and digital product suppliers, have been required to collect and pay 10% (GST) to the Australian Tax Office for their sales to ‘end consumers’ in Australia.

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SUPERANNUATION!

It’s a word that still strikes fear into the hearts and minds of employers, despite it now being well-entrenched in Australian society since its inception in 1992! After all this time, superannuation should be simple, but it still seems that many employers are not quite on top of all the rules surrounding it – that’s why your professional bookkeeper is the person to go to when you have any questions. In this blog, we attempt to give you, the employer, the most straight-forward information so you can understand the basics, but of course, if in doubt, always consult a professional. PLEASE NOTE: This blog is directed at EMPLOYERS only. Employees wanting to further understand the intricacies of superannuation should seek independent advice from a financial advisor or wealth management expert. Now, it’s likely that many people reading this blog will have some knowledge around superannuation rules and laws, but we will start with the very basics, just as a guide for those who may be new to business.

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‘Is the Gift I Give My Employees Tax Deductible?’ – 5 Handy Bookkeeping Tips to Help You Record Your Christmas Expenses

Christmas and school holiday season - for some business owners it’s a great time to relax and rejuvenate, but for many, it can be a very stressful time. Depending on your industry, there’s the added administration of ensuring your staff take the holiday time they want, while still covering all necessary shifts and completing the workload, with far less hours due to all the public holidays.

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Navigating Payroll Obligations in Australia: A Comprehensive Guide

With the silly season over, and everyone (slowly) getting back to work after long, lazy summer days, it’s a good time to take an overview of how your business is performing and to ensure you are fully compliant when it comes to employees and payroll. ‘Now’ could be the perfect time to revisit your award and ensure nothing has changed in your obligations towards your staff.

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5 Reasons Why You Need a Professional Bookkeeper for Your Not-For-Profit Organisation

There are a reported 257,000 Not-For-Profit Organisations (NFPs) operating in Australia, 55,000 of which are registered charities, with the sector growing annually by 2%*. With a primary focus on serving their missions, causes and charities, it’s essential for these organisations to have transparent financial and business management, even more so than other commercial enterprises. Additionally, they are required to provide an annual audit, by professional auditors, and comply with regulations issued by the Australian Charities and Not for Profits Commission (ACNC).

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Employing new staff? 5 benefits to updating your policies and procedures and how WestBAS can help…

Working with a number of business owners in a variety of industries, it’s common for me to see small businesses using policies and procedures they wrote in 2015!

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The Top 7 Ways WestBAS Can Help You Get the Most From Your Business

When you’re running your own business, it can be easy to fall into the trap of doing everything yourself, especially in the early years.

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End of Financial Year

HAPPY NEW FINANCIAL YEAR! Yes it’s that time again ….. those four little letters that strike fear into almost every business owner – EOFY. But it really doesn’t have to be that way. If you’ve been a client with us for a while we’re probably your best friend right now (smile) and it’s likely you have the right procedures to breeze through this period of the year (just keep breathing – we’ve got your back). June does seem to be the month when everyone starts to panic, but when you look at things logically, you can put strategies in place to help you through July, which is the month with all the deadlines! It’s likely you’re on top of most of these dates and changes anyway, but please go ahead and use this blog as your check-list, knowing that all i’s are dotted and t’s crossed.

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The Crucial Role of a Professional Bookkeeper for NDIS Service Providers

Running a successful National Disability Insurance Scheme (NDIS) service provider business involves more than just providing essential services to those in need. With a huge amount of administration required, not just for your clients but, importantly, for effective financial management, compliance with NDIS regulations and maintaining transparent financial records, it can sometimes be overwhelming to keep on top of everything.

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The Top 5 Ways to Make the Most of Your Accounting Software!

Technology is certainly a wonderful tool to relieve the day-to-day stress of any business, and accounting software is a ‘must have’ these days.

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