Hawkesbury Bookkeeping

Affordable Bookkeeping Solutions for your Small Business

Invoicing

Have you paid contractors this financial year?

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You may need to lodge a Taxable Payments Annual Report

If you’ve paid a tradie or other contractor for building and construction services in the last year, you might need to lodge a Taxable Payments Annual Report (TPAR) by 28 August.

Remember:

  • Keeping good records throughout the year will make lodging your TPAR quick and simple
  • If you have accounting software, check if it’s TPAR ready. If you’re not sure or your software is not setup, Book a Chat and we can help in setting this up for you to save time into the future

If you have any questions, please Contact Us to discuss.

Big Business is costing Small Business Billions

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A recent report issued by Xero suggests that a staggering $115 billion is paid late each year by big business to small business and the average payment is 23 days late.

What can Small Businesses do to help themselves get paid faster?

Set shorter payment terms

The report by Xero also suggests that on average, customers pay invoices about a week late. Small business should factor this in when setting payment terms.

Use automated payment reminders

Something else to implement is the use of automated invoice reminders in Xero. Set friendly email reminders that are sent when a bill becomes a day late. Or even better, send an automated email a day or two before the invoice is due.

Add a payment service to your invoice

Add PayPal or Stripe to your customer invoices allowing them to make their payment online as soon as the invoice is received. Xero suggests that invoices with an attached payment service were paid an average 55% sooner than invoices without.

See the full report by Xero

Access the full report compiled by Xero by clicking here or by visiting Xero Small Business Insights.

How Xero can help your Small Business?

Hawkesbury Bookkeeping is a Xero Certified Advisor and can help you setup Xero and get paid faster. Book a Chat and get online with Xero today.

Xero Certified Advisor

Get paid quicker with Xero

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Did you know that more than 40% of invoices are paid late? 😮

Invoicing with Xero means invoicing from anywhere. No more waiting until you get back to the office or spending your nights or weekends invoicing while the rest of the family is off having fun.

Xero also makes getting paid easier plus auto reminders can be setup so you don’t have to remember to chase an overdue invoice.

These benefits are only the beginning. Book a Chat with us today to get setup with Xero. You’ll be sorry you didn’t do it sooner.