Mongolia is a vast country. It is bordered by China and Russia but has its own unique culture. The population is low. A high proportion of the population is still nomadic and follow the traditions that see them return each year to the same summer and winter steppes with their gers for housing, their livestock and traditions.
Naadam is an annual traditional festival in Mongolia. The festival is also locally termed “eriin gurvan naadam” “the three games of men” which seems a bit at odds with our experience where women and girls participated in horse racing, archery and knuckles. Wrestling was the exclusive domain of men.
We were excited to attend a rural Naadam, where we were free to wander between events and to absorb the local colour of traditional costumes, horse riding, and local fare. It was a great family day, hot and dusty, the competition was intense, and as is common in Mongolia, we were made very welcome.
The follow up to this day was the grand Naadam celebrations back in Ulaanbaatar, commencing in Sükhbaatar Square where the Nine White Banners, reportedly made from the tail hair of thousands of stallions from all over the country, are escorted by mounted soldiers from Government House to the stadium. The square was filled, many families in traditional dress, other sporting matching outfits amongst family members, the holiday spirit and excitement evident. Good viewing spots were in demand.
The Opening Ceremony was amazing, colourful, action-packed, so much going on that it was impossible to absorb it all! For the full show, use this link
Travelling the great sweeping valleys or steppes of Mongolia, we visited the Genghis Khan monument, remote monasteries and museums, hiked up to and around a volcanic crater, rode camels and horses, stayed in gers, spent an afternoon with a local family who milked horses for a living, tasting their home-made cheese and clotted cream over cups of hot milk tea, and followed Takhi wild horses in the Hustai National Park.
We found the Mongolian language pretty much incomprehensible, but the hospitality of the locals and the care and knowledge of our wonderful guides spoke volumes.
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What is Rescue Work?
We all know the demands bookkeeping can make on our time, our patience and even our knowledge. But let it slide, put it in the too hard basket, go into denial and it can all too easily slip into such a state that you, the business owner, simply don’t have the time or energy to deal with it alone. One of the challenges of being a successful business owner is deciding when to delegate work to people who specialize in that area.
Rescue work is the bookwork that needs to be sorted as a priority. This work often becomes a priority because the business owner has got behind with their compliance obligations. Their accountant and/or the Tax Office are likely to be a bit of a catalyst for getting things back up to date. They will also be concerned about the integrity of the information recorded in the accounts.
Similarly, it can become apparent to business owners and their professional advisers that there are problems within the accounts that are not readily solved without specialist knowledge and experience. The online accounting packages are easy to use but not quite so easy to get right without a sound understanding of the bookkeeping process.
Typical problems around the integrity of the accounts include:
• The bank balances don’t match the actual bank statements even though all the bank transactions have been accounted for or marked off.
• There are several unreconciled items even though all the bank transactions have been accounted for or marked off.
• The inventory expected from the figures in the accounting package might not match the actual inventory on hand.
• Invoices that have been paid may still be showing as unpaid.
• Leave taken by staff may not have been recorded at the time.
• Leave may not have been accrued properly for staff.
• The Balance Sheet might show liabilities such as Wages or Super Payable when everything is really paid up.
Rescue work is promptly tackling bookkeeping and record-keeping issues with efficient, professional solutions that also provide clarity and peace of mind. An experienced bookkeeper can remove the confusion and uncertainty that surrounds such matters and provide the business owner with a satisfying sense of control and confidence.
If any of these scenarios are ringing alarm bells for you, please feel free to contact us at SWAG Bookkeeping for business solutions tailored to your needs.
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While searching for information we felt you would find useful, I ran across a PC Magazine article that tested online survey companies. Checking over their findings, I decided to share with you SurveyMonkey because it is a good natural product for all company levels.
Surveys are used to support almost any aspect of a business that intersects with an audience. It can gather findings for digital marketing campaigns, customer service, helpdesk, employee satisfaction and event feedback. There is a free level for you to start off with and see if it is something your company can use, later changing to a plan that will work best.
You can create a survey from scratch or use their one of their many templates, then send off via email, text or social media. It allows you to filter, compare and analyse the survey results as they arrive in real-time. The data is then displayed in charts and tables to help you better understand and what it means for your company.
You can find out more about them by clicking here.
Utila is one of the Bay Islands of Honduras, in the Caribbean, north of the mainland. It’s known for its coral reefs and many dive sites. The Oceanic Research Center studies Whale Sharks found in the surrounding waters. The Iguana Research and Breeding Station is dedicated to preserving the endangered spiny-tailed Utila iguana. Utila town (East Harbour) is known for its nightlife
Utila is one of the islands we sail to in our boat each year. It has a young vibe because it attracts people interested in getting their dive master certification. It is a fairly small island which makes it easy for us to check in and out of Honduras.
We are able to get supplies and fuel easily then we relax. Our passages are usually a day or so that cause us to be pretty exhausted afterwards. Utila has a nice laid back atmosphere that we enjoy after such a passage.
Transportation is by golf carts, motor bikes or walking. I enjoy walking to get supplies so Utila is great.
We like to sit back and watch the locals play in the water, the young come for a life time adventures and couples on romantic get away.
If you ever find yourself going to Utila, you must check out the Jade Seahorse. It is a must see hotel/restaurant. Jade Seahorse Click Here
Angela is a registered BAS Agent with a strong background in HR and will work from home.
Pamela has many years of experience across a broad range of industries and joins us in the office each week. Come in to meet her.
Angelique is a bookkeeper in training. She is a fast learner who also assists with administrative tasks.
Michelle is taking a leave of absence to enjoy some new ventures with her daughter. They are selling homemade make goods online. We hope to try her specialities soon.
Lorna finished up at Swag last month after several wonderful years with us. We appreciate her dedication and support she has given us for those many years. We couldn’t have done it without her.
We look forward to sharing more of their stories over the next few months.
The end of the financial year is a time when many important decisions can be made to the advantage of you and your business, but there is often work to be done. With just weeks left in the 2018-2019 financial year, you have limited time to focus on your EOFY to-do list.
Once the new financial year rolls over it can be too late to take advantage of income tax and superannuation concessions that benefit you and your business.
Get your books up to date to give you a good indication of your business performance and position for the year. You will need to estimate your income and expenses for the remainder of the financial year, but with reliable and current information, you will have a good idea of turnover, income and expenses, liabilities still to be met, prepayments that can be made and how much profit you have made for the year.
Your accountant is your tax expert and should be engaged in forward planning so that you achieve the maximum benefit from your position and also understand your obligations.
The government allows a number of tax concessions if your business is an eligible small business entity.
For superannuation contributions to be claimed as a deduction in this financial year, the contribution must be received by the super fund by 30th June 2019. Note that processing of payments can take several working days, so payment should be timed to take this into consideration.
If planning to make an extra contribution to super, check how much super has been paid to date. There are limits to the amount of super that can be contributed each year. Paying in excess can result in extra tax being paid.
The government has increased the threshold for instant asset write-off. This has been extended to 30 June 2020 so the opportunity is there to be strategic about your business investment and take advantage of the $30,000 asset write-off
Single Touch Payroll is the new payroll reporting system that the government has introduced.
Employers with 19 or fewer employees should be implementing Single Touch Payroll as of 1st July 2019. Businesses also have the option of implementing this system before the due date.
Most businesses with 20 or more employees should already be using STP.
The new system means many businesses will need to upgrade to a cloud accounting software package, although there are options for employers who do not use payroll software.
As an employer, you are required to provide PAYG Summaries to your employees by July 14th unless this information has already been reported through Single Touch Payroll (STP). The PAYG Summary show how much you have paid the employee during the year, and the amount of tax that you have withheld. They must then be lodged electronically with the ATO via the Business Portal, BAS Agent Portal, Tax Agent Portal or SBR provider by August 14th.
With so much going on at that time of the year, it can be prudent to do a bit of advance housekeeping of your payroll records during June, to avoid any last-minute issues once the financial year ends. This is particularly important for MYOB users, who are not able to process payroll in the new financial year until the last payroll year is closed off.
CLICK HERE to find our review checklist
As business owners, we all have our own skills and areas of expertise. We tend to be busy with the day to day demands of our business and responsible for driving the growth of our business.
If prioritizing the end of financial year review is proving a challenge, employing the support of a certified bookkeeper or BAS Agent can take the pressure off and help you to meet the necessary deadlines.
Having another expert on board should not only save you time and money but also give you peace of mind.
As an employer, you are required to provide PAYG Summaries to your employees by July 14th unless this information has already been reported through Single Touch Payroll (STP). The PAYG Summary show how much you have paid the employee during the year, and the amount of tax that you have withheld. They must then be lodged electronically with the ATO via the Business Portal, BAS Agent Portal, Tax Agent Portal or SBR provider by August 14th.
With so much going on at that time of the year, it can be prudent to do a bit of advance housekeeping of your payroll records during June, to avoid any last-minute issues once the financial year ends.
This is particularly important for MYOB users, who are not able to process payroll in the new financial year until the last payroll year is closed off.
If you do identify issues that you are unable to resolve, this housekeeping will give you the opportunity to find professional assistance before the EOFY rush.
Since I, Tracie, am the traveler, I thought I would share a recent trip I made to Antigua Guatemala for my birthday. I asked a few of my long-term friends to meet me in one of my favorite places. The picture above has us in front of one of the many volcanos around Antigua.
Our visit happened to be during the month of Easter. In Antigua, they celebrate for five weeks leading up to Easter Sunday. Each weekend they celebrate with street expressions of faith, called processions. The processions commemorate the passion, crucifixion, and resurrection of Jesus Christ.
They create beautiful “rugs” made from natural materials, such as sand and flowers. Floats are made and carried by curcuruchas (carriers) bearing the 7,000 pounds. The curcuruchas carry the floats through the beautiful rugs.
On Holy Saturday’s processions are dedicated to images of the Virgin Mary of Sorrow. Women dress in their finest outfits and often wear high heels. Young children walk under the anda while their mothers shoulder the immense float.
What a joy it was to be in Antigua during this time. The Spanish tradition of Semana Santa (Holy Week) arrived with the Spaniards to Guatemala in 1542. Almost 500 years later, Guatemala holds one of the most elaborate celebrations in the world
If you are interested in Antigua and it’s Semana Santa, Click here
Well, its time to tell you about myself. I was born in Southern California to a Californian mother and Texan father. I spent my adolescent summers in Texas with my father and ended up marrying a Texan. I had two children and raised them in Texas. They are grown and have started their own families of their own. In 2014, I sailed away in our sailboat for the Caribbean.
My husband, our little dog, Schooner, and I have been sailing around the Western Caribbean for the past five years. I got a little bored and started working online. I know that sounds crazy but it makes me happy. I am currently in Guatemala preparing to leave our boat and fly back to Texas for the summer or longer. Time to visit family and especially the grandson.
So what is my background? I first got my degree in Finance. I had thought I wanted to be a financial adviser but working in the field I quickly realized it wasn’t a great fit for me. I then went to work for a State hospital in Texas with their WIC Program. Later, I moved into their records department, as the financial coordinator.
The hospital was damaged in a hurricane and three-quarters of us were laid off. Turned out, it happened at a great time; my father needed me for medical reasons. After caring for him, I decided to return to school.
We always planned to go cruising when the kids were out on their own. I had a few years before that happened so I took the opportunity to get my degree in Sociology. I felt I could work with nonprofits in some of the countries we visit on our boat.
I enjoy being a Minimalist Gypsy. I hope to maintain this lifestyle for another five years. I want to continue traveling by land and sea.
If you use your car in the process of performing your work, you may be able to claim a tax deduction for this cost. The ATO accepts two methods for calculating this cost.
Here is an article that gives you information on the latest mileage tracker apps for 2019. Click Here
For more information from the ATO office Click Here
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