Benchmarks for Performance of Australian Business

Australian tax office has huge database of information regarding the industry operations and have benchmarks of performance in various industries. They use various financial ratios in order to compare the performance of individual business with that of industry performance. You need to ensure that you select correct industry code along with...

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How long to keep Bookkeeping documents for Australian business

Documentation is at heart of accounting. However question arises as to the time period for which the tax records needs to be maintained. How long am I required to keep my tax records : There is a requirement that you need to keep your tax records for five years from the date you file your tax returns. However there are certain cases in which...

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How to Process Re-Engineering in Accounts Outsourcing

Outsourcing bookkeeping to Rayvat Accounting is similar to business process engineering model where there is a complete shift in the manner of how the business is done. In Business process Re-engineering, there is a fresh pondering on the present business and how the process has been done of late. Business Process Re-engineering (BPR) is basically...

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Best Outsourcing Accounting Service Providers to India

Many of my prospective Australian clients ask me if it is Legal to Outsource my Bookkeeping work? The answer to same is definitely yes. You can outsource bookkeeping work offshore to get benefits of outsourcing provided you take adequate care and inform the owner of the information regarding the outsourced work. A written letter of approval is...

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Transition of business to outsourcing model

Once you have decided to outsource your bookkeeping and Accounting the shifting to outsourcing model from traditional model to outsourcing model has to be done in phased manner. This would ensure maximum benefits from outsourcing model.                                       ...

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Complete Accounting Services in India

There is a recent buzz in F&A sector to outsource their complete accounting departments to professional Outsourcing Firms. A Research report of “Global Services 100 Study” states that More than 55 percent of F&A contracts offshore F&A services to India. Of more than 20 leading F&A service providers tracked by Everest, 18 have delivery...

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Preparation of Business Plan for a Successful Business

Planning is first step towards conversion of ideas into a business strategy. It helps to effectively achieve the goal by proper allocation of resources. Business plan is one such step towards planning where the entrepreneur converts his idea on paper. A business plan is any plan that works for a business to look ahead, allocate resources, focus...

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