Accounting Heart

In our final team meeting of 2024 yesterday, we reflected on what's been a transformative year at Accounting Heart. Our proudest achievement? Building robust systems and workflows that help us deliver even better service to our clients. From streamlining our job management processes to implementing automated solutions that reduce administrative noise, we've created more space for what matters most - supporting our clients. Some of our highlights include: ✅ Documenting and refining our end-to-end client journey, from first contact to ongoing service ✅ Developing efficient workflows that maintain quality while reducing complexity ✅ Strengthening our team collaboration despite working remotely. But our real success is seeing our team grow in confidence and capability. Whether it's mastering new software, handling complex client scenarios, or supporting each other through challenges, we've proven that great teams make great things possible. This week we say goodbye to team member Karen M. who has been working under the hood of AH on assignment for the past 2 years as our resident nerd 🤓 supporting us in all things operations, tech and process. Karen won't be going far though as she will continue running our marketing activities through her own business. Thanks a million to our amazing team, and wonderful clients and partners who've been part of our 2024 journey. Here's to continuing to build and improve in 2025! 💙 💚

As another busy year draws to a close, we'll be taking a short break to spend time with ourselves and our special people from Friday 20th December to Monday 6th January. The holiday season offers us all a valuable opportunity to pause and reset – something that's become increasingly important in our fast-paced world. If you're looking to start 2025 with clarity and purpose, we still have a few consultation spots available before our break. Whether it's completing your income tax return, finalising your SMSF return, or getting plans in place to achieve your financial goals for the new year, we're here to help https://lnkd.in/gvDi3uGX Our team looks forward to returning refreshed and ready to support your financial journey in what promises to be an exciting 2025. Stay tuned for more on what's to come for Accounting Heart... 💚 💙 🌲

❗ ATO CRACKS DOWN ON TAX COMPLIANCE AND DEBT RECOVERY ❗ In recent months, we've seen significant changes in how the ATO approaches compliance and debt collection. Here's what business owners should be aware of: The ATO has tightened its stance on: ➡️ Payment plan negotiations - requiring more detailed financial documentation ➡️ Interest and penalty remissions - showing less flexibility even with valid reasons ➡️ Lodgement extensions - maintaining strict deadlines despite circumstances Key developments to watch: ➡️ Increased use of Director Penalty Notices (DPNs) ➡️ More frequent garnishee notices ➡️ New practice of reporting business tax debts to credit reporting bureaus 💡 What this means for you... While economic conditions remain challenging, maintaining good tax compliance is more critical than ever. Lodging returns on time, even if you can't pay immediately, demonstrates good faith and keeps more options open for negotiation. Remember, the current ATO interest rate stands at 11.38% p.a. for the December 2024 quarter. This might make exploring alternative financing options worthwhile. Most importantly, don't face these challenges alone. Early action and professional guidance can make a significant difference in managing your tax obligations effectively. #business #entrepreneur #tax #accounting

Collaboration with other professionals to achieve better outcomes for our clients is something we love doing at Accounting Heart. In fact, we love collaborating so much we've even won an award for it! Through client collaborations with the team at Her Lawyer, Accounting Heart practice director Sonia Gibson CA was introduced to the team at Podium CPD, who are on a mission to reframe how lawyers engage with CPD - now that's a BHAG! Being passionate about the future of professional services, Sonia was delighted to be invited to host an online workship for the Podium community, which is titled "Beyond the Balance Sheet: Financial Sustainability for Forward-Thinking Law Practices." In this interactive session participants will discover how to create a financially sustainable law practice that goes beyond traditional metrics. Sonia will share practical strategies for supporting flexible working arrangements, talent retention, and long-term business sustainability while maintaining strong profitability. Through real-world examples and interactive scenarios, participants will explore how smart financial decisions can help build a practice that aligns with their values and meets the demands of contemporary legal service delivery. And best of all, participants will leave with actionable strategies and practical tools to implement immediately in their practice. Here's the details 👇 📅 Wednesday 11th December 2024 ⏰ 1pm AEDT 🎟️ $110.00 AUD 🔗 https://lnkd.in/gRuHK74M Sonia and Courtney Bowie look forward to welcoming the lawyers in our network to this session - please feel free to share with anyone you think would benefit from attending 💚 💙

Last Thursday marked our annual Team Day at Accounting Heart – the one special day of the year when our entire team from Pannawonica (WA), Brisbane & Gold Coast (QLD), and Sydney (NSW) comes together under one roof. And it was pure magic ✨ While we pride ourselves on our strong virtual connections, nothing beats being in the same room, sharing ideas face-to-face, and connecting over lunchtime chatter. Our time together was incredibly productive ✅ After kicking the day off with a breathwork class 🧘 (courtesy of the fantastic Nadia Leslie from Perfect Form Fitness) we took a deep-dive into our clients' and referral partners' evolving needs through a journey-mapping exercise. AND we managed to squeeze in a team photo shoot with the awesome Bee Elton of Assemble Photography in between the raindrops! 🙏 One exciting outcome from the day? We're expanding our business advisory services to provide even more value to our clients as part of of our future-focused practice offerings. 📈 Stay tuned for more updates as Accounting Heart 2.0 unfolds... 🤩 Love our amazing team! 💙💚

Materials ready for the annual Accounting Heart team day tomorrow. Any guesses as to what we'll be doing? 🤔 (Before we go for a nice lunch... 😉)

Accounting Heart director Sonia Gibson CA has been out and about recently, engaging with the up and coming members of the accounting community and sharing insights and connecting with industry leaders. In conversation with fellow panelists, she explored themes around embracing change, future opportunities, and the importance of collaboration in our evolving profession. We're proud to see our firm's leader actively contributing to professional development initiatives and strengthening relationships within our business community 💚💙 More to come from Sonia soon...

Are you getting maximum value from your accountant? 🤔 The most successful businesses understand that an accountant's value extends far beyond managing numbers and tax returns. True business growth comes from developing a strong professional partnership with your accountant. What makes this partnership work? It starts with open communication 💬 Successful client-accountant relationships are built on transparency about business challenges and opportunities. When an accountant develops a thorough understanding of your business's unique dynamics, challenges, and goals, they can provide customised solutions that align with your: 🛠️ Operational needs 📈 Growth objectives ❤️ Business culture and values One of the things we love most about our work at Accounting Heart is helping businesses transform their financial management from basic compliance to strategic growth. That's when the magic happens! ✨ Looking for an accountaning partnership that's more transformational than transactional? Let's start a conversation 💚💙 Get in touch via DM or visit https://lnkd.in/gX6adcHJ

Do you operate a Self-Managed Super Fund? When we work with new SMSF clients, they tell us that their biggest challenges with managing their fund's compliance are ever-changing regulations and time-consuming paperwork. That's why we've developed a streamlined process to make your SMSF journey smoother and more efficient. Here's how we can help: 💚💙 Our team specialises in providing expert guidance on SMSF compliance and tax strategies, ensuring your fund stays on track. 💚💙 We work closely with your financial planner, combining our tax expertise with their investment management expertise to support your SMSF. 💚💙 Our process requires minimal involvement from you – just provide the necessary paperwork, and we'll handle the rest. 💚💙 We're your first point of contact for ATO correspondence, saving you time and stress. 💚💙 We can also assist with your other financial needs, including business, trust, and personal tax returns, providing you with a wholistic approach to your finances. When it comes to SMSF, let us focus on the complexities of tax and compliance, while you focus on what matters most – growing your retirement savings 📈 Want to learn more? Let’s chat 👉 https://lnkd.in/gRrFEHpQ #smsf #finance #tax #advisory

💙💚 Team Building and Pizza Facts 💙💚 Operating a team working in-office and remotely across 3 states requires us to put some effort into our communications and opportunities for connection. We meet online for daily standups and each Tuesday we have a longer team meeting where we work on process improvements and have a bit of fun team building. Online team building for us has involved playing games (Support Team are current "Heads Up" champions 😁🏆) and using different ways to find out more about each other. This week we found out our quirks around eating pizza! 🍕 🍕 One person doesn't eat the crusts to keep the carb intake down ⏬ 🍕 One person always eats salad 🥗 with pizza because it balances out the carbs 🍕 Two people always eat pizza with a knife and fork 🍴 🍕 One of our clients told us that the perfect pizza should be able to be eaten with 3 fingers ☝☝☝ 🍕 And we were split on whether pineapple 🍍 should be allowed on pizza 🤷♀️ What are your favourite online team building activities & pizza quirks? #team #accountingandaccountants #teambuilding