Keeping accurate records is not just good practice; it is a legal requirement in Australia. Whether you operate as a sole trader or run a more substantial business with employees, maintaining proper records ensures compliance with the Australian Taxation Office (ATO) and Fair Work Australia. This proactive approach helps you avoid penalties and supports smart business decision-making. At Love Bookkeeping, we help handle your record keeping process so you can concentrate on wh

As the End of Financial Year (EOFY) approaches, businesses face a wave of tasks to manage. It's easy to feel overwhelmed by the volume of financial documentation involved. However, proper preparation can make this period smoother and less stressful. In this guide, we’ll discuss ten essential tips to ensure your bookkeeping is ready when EOFY arrives. 1. Organise Your Financial Documents Start by gathering all your financial documents. This covers invoices, receipts, and bank