APL Accounting News June 2018
Woah, we’re half way there …!
6 months in with only 6 to go. Let’s get organised.
APL on tour dates
We would like to remind everyone of our Australian tour dates (or Client Expert Days as some people like to call them), and as usual we will bring a few roadies along with us.
Melbourne – Friday 24 August 2018 at Stamford Plaza, 111 Little Collins Street, Melbourne
Brisbane – TOP DOGS Thursday 6 September 2018 (invitation only) at Stamford Plaza, Edward St & Margaret St, Brisbane
Brisbane – Friday 7 September 2018 at Stamford Plaza, Edward St & Margaret St, Brisbane
Sydney – Friday 19 October 2018 at Sir Stamford, Circular Quay, 93 Macquarie Street, Sydney
Please note: We are going to attempt a live web stream from our Brisbane 7 September workshop. If you could be interested in viewing this could you please let us know by contacting email@example.com
These expert days are open to everyone, although rumour has it that these events are harder to get into than a Bon Jovi concert. So, to avoid disappointment please contact firstname.lastname@example.org before 30 June for more information or to discuss options if you are a non-client.
Some venues have restricted numbers so it is important you let us know before 30 June which venue you will be attending.
Keep the Faith
The Animal Care and Veterinary Services Award will increase from 1 July. Here is your reminder to prepare for the hourly rate changes on your payroll system to avoid the nuisance of having to do back pays and adjustments come September or October when you realise. If you are an employer that pays above the award it is worth having a look at the new rates to make sure you are in line with any increases to ensure your staff are still better off on your own negotiated rates.
I’ll Sleep When I’m Dead
There are a few other things you need to review before the end of the month.
By now you would have obviously checked out your super fund per our last newsletter and calculated how much super you are able to pay to tap out your maximum contribution limit of $25,000. If not, there is still a week or two to do this but please make sure you send off your contributions at least 10 days before the end of the year to make sure it gets to your account in time.
Have you paid all the bills that you can prior to 30 June so that the deduction is picked up in this financial year?
It’s a good time (because July will be crazy – we promise) to have a look at your wage accounts and see if they balance with your payroll reports. This is a pre-emptive attack on your payment summaries that will be prepared after 30 June and will need to be issued to your employees no later than 14 July. The report itself will need to be lodged with the ATO no later than 14 August or they will fine you. Oh yes, they will fine you!
If we process your payroll this will be included in your monthly fee so you don’t need to worry about a thing. However if you process your own payroll we can prepare the payment summaries for you if you use Xero payroll software but there is a charge of $165 (incl GST). Please let us know no later than 30 June if you will be requiring us to prepare your employees payment summaries and lodging them with the ATO.
Are you keeping too much stock and medications on hand? A way to track this is to put a mark or coloured sticker on an item and then recheck in 6 to 8 weeks to see if the product is still there. If so, it is not turning over quickly and actions should be taken to order less in future or even review if it’s something you still need to stock. Stock sitting on your shelves for weeks at a time is money that could be doing something more worthwhile for your business.
Raise Your Hands
We understand that it is a busy time of year for everyone. It’s almost like last minute Christmas shopping trying to snag a bargain before close of business (ie. 30 June).
If any of our clients have any end of year queries that you are unsure of please contact our office and one of our staff will be able to assist.
They dressed us in 80’s denim, what more can we say. Daisy refused to wear denim (and appear in our photo properly) so channelled Cyndi Lauper – she’s a girl who just wanted to have fun …
Rock on our canine friends, rock on!
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the informations applicability to their particular circumstances. In particular, please note that the APL dogs who often prepare this newsletter do not have opposable thumbs so have to type with their noses.