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What Is a Reversing Journal Entry And How to Enter it in QBO?

Ronika Khanna CPA,CA

Journal entries can be perplexing for small business owners/non accountants, or accountants/bookkeepers in the early stages of their careers. In this post (and related video tutorial), my goal is to show you that they are relatively straightforward and, once understood, an incredibly useful bookkeeping tool.

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How to Build a More Profitable Business

Basis 365

If you’re looking to generate more profit to fund operating expenses, pay your team more, offer better benefits, and fuel growth—while still keeping more profit for yourself—it’s time to focus on key financial and pricing drivers. Here are actionable strategies to help you improve your gross profit margins and achieve your goals.

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10 Bookkeeping Best Practices Every Business Should Outsource

Basis 365

If youre finding it difficult to keep up with your bookkeeping but dont want to hire an in-person accounting team, its time to consider alternative solutions! When handled by the experts, outsourced bookkeeping services not only ensures accurate financial tracking but also frees up your time to focus on growth and strategy.

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How Xero is supporting digital transformation at Xeinadin Sittingbourne

Xero

At Xeinadin Sittingbourne, our team of 30, mostly Xero-certified advisors, supports small and medium businesses across various industries, including construction, healthcare, and non-profits. We’ve gone from a very small number of clients using Xero to nearly all of our bookkeeping clients on the platform.

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Not for profit (NFP) self-review return: What you need to know

Reckon

The deadline for the new tax reporting requirements for Not For Profit (NFP) organisations with an active ABN is set for 31st March 2025. Under the old way, if you returned $416 or less in taxable income, you retained the tax exemption status and provided a non-lodgement form to the ATO. What does self-review mean for Not For Profits?

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Flying Blind: The Real Cost of Not Knowing Your Numbers 

Basis 365

Are we scaling profitably, or just burning cash faster?” Let’s break down what real financial visibility means, why it becomes non-negotiable when your business pushes into 7-figure territory (and beyond), and how outsourced accounting solutions can bring sanity, strategy, and structure back into the mix.

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Why Outsourced Accounting is Becoming the “New Normal”

Basis 365

Benefits of this flexibility include: Customized Services Businesses can choose which accounting functions to outsource, whether it's bookkeeping, financial reporting, or CFO-level advisory services. Outsourced accounting can help your business scale as needed.