Your Guide to Outsourced Accounting
In today’s fast-paced business landscape, companies are constantly seeking ways to streamline operations and maximise efficiency. One solution that has gained significant traction in recent years is outsourced accounting. With the rise of remote work and digital solutions, outsourcing your accounting needs has never been more accessible or beneficial. In this guide, we’ll explore what […]
Mid-Financial Year Check-In
As we embark on a new calendar year, signalling the midpoint of the financial year, it’s an opportune moment to conduct a thorough business health check and ensure that you are on course to achieve your end-of-financial-year objectives. Here are some crucial steps to take in order to successfully navigate the remainder of the year: […]
Managing Operations in Not-for-Profit Organisations
Supporting charities and not-for-profits (NFPs) has historically missed a crucial aspect for many years—overheads and indirect costs. Operating a charity incurs expenses! While many NFPs rely on volunteer goodwill and donated time, overheads and indirect costs are intrinsic expenses. According to “Paying What it Takes,” a report from The Centre of Social Impact and Philanthropy […]
Nine Accounting Considerations for Christmas
With the end of 2023 nearing, the focus shifts to recognising and appreciating the hard work and dedication of our staff. Employers have various ways to reward their teams: Christmas parties, bonuses, gifts, and leave. While these boost morale, they often pose accounting challenges when determining tax deductibility. Christmas Bonuses A Christmas bonus can significantly […]
Streamlining Deductible Gift Recipient (DGR) Categories: A Positive Change for Charities
In a significant move to simplify administrative procedures and reduce regulatory burden, legislative amendments have recently been passed into law. These changes entail the transfer of administrative responsibility for four deductible gift recipient (DGR) categories from various government departments to the Australian Taxation Office (ATO). This transition is set to take effect from 1 January […]
Single Touch Payroll: Everything You Need to Know
Single Touch Payroll (STP) is a recently introduced Australian government initiative that changed when and how small businesses report payroll activity to the Australian Tax Office (ATO). It aims to reduce employers’ reporting burdens to government agencies by removing the payment summary annual report and payment summary and creating a simplified process. Now, businesses send […]
Preparing for EOFY
As the tax year comes to a close, it’s an important time to consider strategies to reduce your tax. Hopscotch Accounting has prepared a list of tax tips that may apply to you or your business. Maintaining essential documentation is crucial for streamlining the end-of-financial-year (EOFY) process. Here are a few examples of the records […]
How Hopscotch Accounting Can Help Your Non-For-Profit Organisation
At Hopscotch Accounting, we offer accounting services designed specifically for Australian Not-for-Profit (NFP) organisations. Our expert team is always up-to-date with NFP requirements for good financial governance, transparent accounts, and timely financial reporting, including state regulations for registered charities and Incorporated Associations. We take the time to understand different NFP organisations of varied sizes, shapes, […]
ACNC Compliance and What You Must Know
As a Not-For-Profit organisation, compliance with the Australian Charities and Not-for-Profit Commission (ACNC) is essential. But it can be difficult to stay up to date with all of the regulations, especially when running an entire operation. That’s why we’re here to discuss what you need to know about ACNC compliance, from implementing financial controls to […]
Financial Automation in Not-for-Profit Organisations
If you are spending all of your time actioning a lot of financial tasks manually, then it’s time to consider implementing elements of financial automation within your not-for-profit (NFP). Automation is essential to help you save time and money; for most NFP organisations, that would be highly beneficial. Instead of your finance team spending valuable […]