FQA

E-Commerce

Before launching a business, your initial step should be to engage an accountant. They will serve as your primary resource to ensure everything is correctly established and that you’re connected with the right individuals throughout your journey.

Considerations to keep in mind:

  •  Initiate with the appropriate trading structure from the start to avoid future revisions once your business is operational.
  • Implement internal systems and an accounting package that aligns with your future business aspirations, rather than your current status.
  • Ensure all necessary insurances are secured to cover your activities within your specific industry.
  • Develop a business plan. A concise document, even just a one-pager outlining your objectives, can suffice for many.
  • Set incremental goals that lead towards your larger ambitions. These smaller milestones are essential for maintaining direction and motivation.

Bookkeeping

Payroll management can be challenging, particularly for small to medium-sized enterprises that might not have extensive experience with it. A practical solution for these businesses is to outsource their payroll operations. MSC AUS has a dedicated team specializing in payroll processing. We recognize the critical role payroll plays within your business, emphasizing precision due to its potential impact on your employees’ personal situations. Our services are customized to align with your company’s requirements, all while guaranteeing full compliance with Tax and Superannuation regulations.

Business owners rely on the data processed by bookkeepers to assess their company’s performance. Thus, it is the fundamental duty of a bookkeeper to guarantee that every transaction of the business is captured and recorded accurately. In the current era, the role of a bookkeeper extends beyond mere transaction processing. Possessing a thorough understanding of accounting and tax principles is vital for improving a bookkeeper’s effectiveness. It is crucial for any business to hire a bookkeeper who has received professional training and holds qualifications in accounting, ensuring the availability of dependable data for evaluating the business’s performance.

Business Process Automation

With advancements in financial technology, cloud applications have become increasingly favored by small businesses. The core question arises: what is the benefit of business system automation?

Taking the retail and hospitality sectors as instances, in simple terms, a point-of-sale (POS) system functions as the establishment’s cash register, handling orders, relaying them to the kitchen and bar, managing inventory orders and stock counts, and recording customer payments. Traditional, native POS systems, which are bought outright and installed on each in-store computer/device, present a significant drawback: they require manual updates when the software becomes outdated, necessitating the purchase and installation of new software.

Furthermore, business owners wanting to manage their operations remotely or review daily sales performances must buy additional licenses for installation on home office equipment.

Cloud-based POS systems address these issues by enabling access from any device, anywhere, eliminating the need for manual updates, additional installations, or purchases. Data secured online allows owners to examine performance or management reports from the comfort of their home office without extra installations or upgrades.

Starting up can pose challenges, particularly with limited initial capital. A cloud-based system reduces the need for a full computer setup, allowing use of existing computers or mobile devices.

Cloud POS systems shift the focus to sales, with everything else automated. Carbon offers a team of cloud integrators ready to help launch a tailored POS system, simplifying the process for businesses to begin efficiently.

Choosing the best POS system for your business is absolutely critical. If you’ve looked online you quickly become overwhelmed with the amount of different point of sale systems with differing features out there, as all businesses have different requirements it’s important to get some assistance in finding the best one for your business. This is where a POS expert can help, they’ve already done the leg work to identify the best POS software out there, learn the products and their features.

  • If you’re going it alone, here’s a few tips to find the best POS system
  • Is it easy on the eye? A system that’s easy to understand will be a lot faster to learn
  • Are they a secure company, How long have they been around?
  • Do they have all the features that your business requires?
  • Do they have time-saving features, like;
    • Inventory management?
    • Staff management?
    • Customer information gathering for loyalty and marketing purposes and therefore boost sales?
    • Direct integration into an accounting package like Xero saves a massive amount of double entry?
  • Is it affordable?
  • Does the subscription scale as your business grows?
  • Do they offer 24/7 support?