Way Better Books

Way Better Books Bookkeeping the better way with Way Better Books

Xero, Myob, Quickbooks? We master them all! 🤝Check the list of software we use every day - if you don’t find your prefer...
17/10/2024

Xero, Myob, Quickbooks? We master them all! 🤝

Check the list of software we use every day - if you don’t find your preferred one, let us know and we will add it to our skillset! 🤩

If you’ve ever been overloaded with invoices wondering, “Do I need a bookkeeper or an accountant—or both?”, you’re not a...
15/10/2024

If you’ve ever been overloaded with invoices wondering, “Do I need a bookkeeper or an accountant—or both?”, you’re not alone!

Think of it like building a house: one keeps the job site clean and running smoothly, while the other designs the whole project and makes sure it’s up to code.

Check the slides above for more details and share the post with anyone who should see this!

Are you still struggling to keep up with your bookkeeping? 🫠 We prepared a list of 5 most common mistakes you can face a...
09/10/2024

Are you still struggling to keep up with your bookkeeping? 🫠 We prepared a list of 5 most common mistakes you can face as a small business owner.

Running a trade business is already hard enough—don’t let these errors make it tougher!

Make sure you don’t:

1) Ignore Small Receipts😶‍🌫️
2) Combine Personal & Business Expenses💵
3) Delay Invoicing 🥱
4) Forget to Track GST 🥴
5) DIY BAS Statements 🧙🏼

Can you relate to some of them?

Leave us a comment bellow! 👇🏼

Are you in trade or construciton industry?Keeping a close eye on your cash flow is crucial for the business. But how to ...
01/10/2024

Are you in trade or construciton industry?

Keeping a close eye on your cash flow is crucial for the business. But how to stay on top of your finances?

1. Create a cash flow forecast 📊

Plan ahead by estimating your income and expenses. List all expected payments from contracts and track your outgoing costs to avoid cash shortfalls.

2. Invoice efficiently 🧾

Send out invoices as soon as you complete a job! Use templates for consistency and follow up politely on unpaid bills to ensure you get paid faster.

3. Set clear payment terms ⏰

Before starting a project, establish your payment terms. Request a deposit and set milestone payments for larger jobs to secure cash flow early on.

4. Monitor expenses 🔍

Keep tabs on your spending to identify areas to cut costs. Use accounting software to categorize your expenses and stay within budget.

5. Build a cash reserve 🏦

Aim to set aside some profits each month to create a buffer for slow payment periods. This safety net helps you cover costs without stress.

Does it still sound too complicated?
DM us today and we will help you out!

We don’t just crunch numbers. We’re partners in your business success, and our clients can only confirm.Thanks Shaun for...
26/09/2024

We don’t just crunch numbers. We’re partners in your business success, and our clients can only confirm.

Thanks Shaun for your kind words!
We’re proud to hear that our team helped you to improve your efficiency, so you can focus on your business and what you do best.

Contact Way Better Books today for a free consultation and see how we can help your business thrive!

“Is my ute considered a work-related expense for my BAS?" If you’re a tradie, understanding vehicle deductions can get c...
24/09/2024

“Is my ute considered a work-related expense for my BAS?"

If you’re a tradie, understanding vehicle deductions can get confusing, especially when it comes to utes, panel vans, and minivans.

Here's a quick breakdown:

👉 Utes, Panel Vans, Minivans (over 1 tonne/9 passengers): No logbook is needed, but you'll need to calculate work-related percentages and keep records to support your claim.

👉 Cars: You'll need a valid logbook for 12 consecutive weeks to prove your work-related percentage.

Remember — all records must be kept for 5 years!

However, you know how much of a nightmare it can be if you're juggling record-keeping and calculations alongside your busy schedule. And this is where Tradify and Way Better Books can help.

With Tradify, managing your vehicle expenses becomes a breeze. This all-in-one app for tradies can help you:

🌟 Tracks your trips and mileage automatically, eliminating the need for a physical logbook (for qualifying vehicles).

🌟 Categorises expenses, making it easier to calculate work-related percentages.

🌟 Stores all your receipts and invoices in one place, simplifying record-keeping.

Way Better Books can take the complexity out of vehicle expense deductions and ensure you maximise your tax return with Tradify's detailed records.

Contact Way Better Books today and streamline your BAS calculations with Tradify:

https://waybetterbooks.com.au/contact/ | 0466 110 129

Calling All Women in Construction — Free Training Available at the New IATC!Exciting news for aspiring female tradies! T...
20/09/2024

Calling All Women in Construction — Free Training Available at the New IATC!

Exciting news for aspiring female tradies! The Institute of Applied Technology – Construction (IATC) is offering 60 FREE training places specifically for women looking to break into the construction industry.

Here's what you need to know:

1, Learn in-demand skills like Sustainability in Construction, Building Information Modelling (BIM), and how to excel as a Woman in Construction.

2. Take the courses online at your own pace or join face-to-face sessions for a more interactive experience.

3. Complete the eight-week programs and gain valuable insights into project management, risk assessment, quality control, and digital tools like 2D/3D modelling.

4. The program emphasises practical skills through interactive sessions, tasks, and real-world case studies led by industry experts.

5. Gain valuable connections and experience through networking opportunities and construction site visits (for successful applicants).

This initiative aims to empower women and promote diversity in the construction industry while also highlighting the importance of sustainability and digital technology.

Are you ready to build your future in construction? ️

Head over to the TAFE website for more details on how to apply: https://www.tafensw.edu.au/instituteofappliedtechnology

If you’re a real estate business owner, have you ever asked yourself, "Isn't there a better way to manage my finances?" ...
16/09/2024

If you’re a real estate business owner, have you ever asked yourself, "Isn't there a better way to manage my finances?"

Many real estate agents struggle between tasks and spreadsheets and wonder whether they could delegate their bookkeeping to a professional.

Absolutely! But where do you even start?

Here are some common bookkeeping tasks real estate agents often consider outsourcing:

👉 Transaction Processing
Free yourself from the hassle of recording income, and expenses, and managing bank statements.

👉 Payroll Management
Ensure accurate and timely payments for staff and contractors without the added stress of calculations and compliance.

👉 Accounts Payable & Receivable Management
Never chase down late payments again! Outsource the tracking of invoices and bills to keep your cash flow smooth.

Wondering what else you can delegate to free up your time for client meetings and property viewings?

Head to our latest blog and discover the specific services to streamline your finances, reclaim control of your schedule, and help gain clarity into outsourced bookkeeping for real estate agents!

Read the full blog post here:
https://waybetterbooks.com.au/what-bookkeeping-services-can-you-outsource/

Tradies — want to streamline your builds and boost your profits? Try ProCore!Working in the construction industry is com...
12/09/2024

Tradies — want to streamline your builds and boost your profits? Try ProCore!

Working in the construction industry is complex — juggling owners, contractors, subs, and deadlines can leave you feeling like a one-person circus.

But there’s a way to streamline communication, workflows, and gain real-time project insights – all on one platform.

Procore is a central hub for everyone involved in your project, allowing you to:

✅ Break down communication silos and keep everyone on the same page from start to finish.

✅ Automate tasks, streamline workflows, and get real-time insights to keep projects on track.

✅ Gain a clear understanding of progress, budgets, and potential risks with comprehensive reporting tools.

✅ Make data-driven decisions based on real-time project data and insights.

Studies show Procore users can handle 48% more construction volume per person — meaning more projects completed faster!

While Procore helps you build smarter, Way Better Books helps you manage your finances seamlessly. We specialise in tradie bookkeeping, ensuring your financials are optimised to work alongside Procore.

Focus on what you do best – building – and leave the rest to us. Contact Way Better Books today and maximise Procore for your business!

https://waybetterbooks.com.au/ | 0466 110 129

Managing a real estate business? Here are 5 questions to ask your bookkeeperWe know time is precious between finding ten...
08/09/2024

Managing a real estate business? Here are 5 questions to ask your bookkeeper

We know time is precious between finding tenants, managing properties, and closing deals.

But if you find yourself neglecting your financial health, a good bookkeeper can help decode the numbers and ensure your money works for you.

But how do you know if they're the right fit?

Here are 5 key questions to ask your potential bookkeeper:

1. Do you specialise in real estate accounting?
Understanding the industry's nuances, from rental income to depreciation, is crucial for accurate financial reporting.

2. How will you streamline my bookkeeping process?
Look for a bookkeeper who utilises technology like cloud-based software, allowing you to access your financial information anytime, anywhere.

3. How will you ensure I'm compliant with tax regulations?
Tax laws for real estate can be complex. Choose a bookkeeper who stays up-to-date on the latest regulations to avoid costly penalties.

4. Can you provide regular reports and financial insights?
Beyond crunching numbers, a good bookkeeper should be able to analyse your finances and provide insights to help you make strategic decisions.

5. What is your communication style?
Open and transparent communication is vital. Find a bookkeeper who explains financial concepts in a clear and understandable way.

Need to outsource your real estate bookkeeping?

Way Better Books can answer all your questions and help you optimise your finances for a thriving business!

Contact Way Better Books today and start taking control of your financial future:

https://waybetterbooks.com.au/contact/ | 0466 110 129

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