Payvu – The final piece to a Full-Service Accounting Solution

Payvu – The final piece to a Full-Service Accounting Solution

Automate payments and Grow without increasing overheads Michelle’s Bookkeeping Services (MBS) is working towards streamlining systems and offering a Full-Service Accounting Solution. Bookkeepers used to manually enter and prepare banking files for invoices and salaries then pass onto their client (the business owner) for approval and payment, constantly going back and forth. PayVu’s solution enabled Michelle’s Bookkeeping to use PayVu in conjunction with Xero, Quickbooks and Hubdoc as a Bundled Full-Service Accounting Solution. Michelle now doesn’t need to engage in low value customer contact. Instead, invoices via HubDoc are automatically coded to the right accounts in Xero & Quicksbooks. These are sent via the PayVu app for secure approval without needing access to any bank accounts! Customers approve via the app, automatically paying the invoice and sending remittance. Both bookkeeper and customer are now happy! The Solution – How PayVu helped create a full-service offering. Michelle’s Bookkeeping Services made the decision to partner with PayVu to improve processes and facilitate scalable growth for her business. Michelle sees PayVu as the final piece in their full-service offering. PayVu helped to… 1. Create an automated and streamlined single process for all payments: invoices, salaries, BAS, super and BPay. 2. Manage bulk payments. 3. Streamline payment processes. 4. Recommend payments to the business owner who authorises or rejects via the mobile app. Payment rejections don’t void the entire batch meaning no need for time-consuming rework. 5. Remove the need to export and expose ABA/Banking files outside of accounting systems like Xero & QuickBooks. 6. Work in conjunction with MBS current systems: Hubdoc – Digitise invoice transfer into Xero.Xero & QuickBooks– Accounting software.PayVu – Complete solution to securely authorise and pay invoices, Super,...
New Law Introduced To Prevent Casual Employees Double-Dipping: What You Need To Do Now

New Law Introduced To Prevent Casual Employees Double-Dipping: What You Need To Do Now

On 18 December 2018 the Government varied the Fair Work Regulations 2009 to allow employers, in certain circumstances, to offset the casual loading paid to an employee against certain entitlements that may otherwise be owed to the employee if they are found in the future to be a permanent employee. This change to the law has been introduced in reaction to the case of Workpac v Skene [2018] FCAFC 131  where an employee classified as a casual employee (and paid a loading) was later found by the court to be a permanent employee. In that case the court ordered the employer to back pay the employee the annual leave he should have accrued, despite the fact that he had been paid a casual loading to compensate him for not being entitled to paid leave. Casual loading offsetting NES entitlements For employers to benefit from the new law, certain criteria need to be met including that: “the employer pays the person an amount (the loading amount) that is clearly identifiable as an amount paid to compensate the person for not having one or more relevant NES entitlements during a period (the employment period)”. The reference to “relevant NES entitlements” are to those matters set out in the National Employment Standards in the Fair Work Act 2009 which do not apply to casual employees and include entitlements such as paid annual leave and personal/carer’s leave, redundancy pay, etc. The new law acts retrospectively as well as going forward – so if an employee makes a claim in the future in respect of periods of employment in the past, the Regulations will still apply. In our view, there are two matters which employers will...
Hubdoc – How it Works

Hubdoc – How it Works

        Hubdoc is an online cloud-based service and mobile app for digitizing financial documentation. Designed to alleviate data entry for busy business owners and bookkeepers. With Hubdoc, your  key financial docs automatically flow into one place. Quickly view your receipts, bills and statements the moment they are sync’d or uploaded. Hubdoc captures, processes and syncs precious information between leading accounting applications. Simply snap paper invoices, bills or receipts using smartphone or tablet camera and the apps for iOS or Android scans those documents ready for upload. Single sign-in for associated online accounts and the ability to import pre-existing scans via upload or email also allows Hubdoc to automatically grab financial data. With copies placed in fully customizable folder structures, documents can then be archived and viewed anywhere and across multiple devices via app or browser. Cloud-based storage features bank-level protection boasting industry-standard levels of encryption and verification technology. Financial data from uploaded documents or linked accounts can then be published between leading accounting software such as Xero and Quickbooks. Vendor Rules allow how Hubdoc codes docs and data to be changed, ensuring seamless integration within existing systems and user groups. Try it for yourself.  ...
Moving towards a paperless office with Autoentry

Moving towards a paperless office with Autoentry

  Benefits of a paper-free office Due to the nature of the job, there’s always a lot of paper, which can quickly stack up in the office. With even the smallest firms typically storing thousands of documents, going paper-free may seem daunting to start with. However, alongside the inherent environmental benefits, there are numerous operational and financial gains in transferring your physical files to digital records. Driving a culture of change When implementing a paper-free strategy, and whether your team is two or twenty, it will be important for everyone to be on board. Paper documents can easily get lost, or fall into the wrong hands, therefore digitising your records and implementing ‘a clear desk policy’, will not only better organise this data, but help to keep it protected. Digital tools are available to automate and streamline almost every line of business. With the strategic application of the right technology, firms can work more efficiently, whilst reducing their use of paper. Automating data entry is key    At Autoentry, their goal is to be part of the paper-free movement, by providing OCR-based software which helps businesses automate their bookkeeping data entry. Autoentry works by capturing and analysing details from scanned and photographed bank and credit card statements, bills, invoices, expenses and receipts and inputs them directly into a user’s accounting software; integrating with all major accounting software providers including QuickBooks, Xero and Sage. Available with a mobile app, Autoentry allows users to scan receipts on the move, and having posted the data to a user’s accounts software, the solution can act as your online filing cabinet, storing your documents...

Christmas Gifts for Employees, Clients and Suppliers

With Christmas around the corner it is a good idea to check what are acceptable “Gifts”    Christmas Gifts for Employees Are gifts to your employees claimable? Gifts may be classified as “entertainment” or “non-entertainment”.The provision of a gift to an employee at Christmas time, such as a hamper, may be a minor benefit that is an exempt benefit where the value is less than $300. Where the gift is given at the Christmas party, each benefit can be considered separately. For gifts such as wine, food, hampers, vouchers, etc., these are not considered to be entertainment. If the gift is a minor benefit (i.e., less than $300 value), then the gift is not tax deductible, and therefore GST is not claimable for gifts to employees and their family members. No FBT applies to gifts of less than $300. For gifts over $300, FBT may apply for employees and their family members. Gifts such as a holiday, membership to a club, or tickets to a theatre, sporting or musical event are considered to be entertainment. For minor benefits, as above, the gift is not tax deductible and no FBT applies. For employees this is not a minor benefit, the gift is tax deductible but it is also subject to FBT. Christmas Gifts for Your Clients and Suppliers Are gifts to your clients and suppliers claimable? Gifts may be classified as “entertainment” or “non-entertainment”. For gifts such as wine, food, hampers, vouchers, etc., these are not considered to be entertainment. Non-entertainment gifts to clients or suppliers are deductible and GST is claimable. Gifts such as a holiday, membership to a club,...