Shoebox Blog

What You Should Know Before Withdrawing From Your Super Fund

In Bookkeeping Basics | Posted 6 days ago, 20/01/2021 at 3:24pm

When accessing your super, it is important to make a plan for how it can support you over your retirement (e.g. build an emergency fund that will provide a financial safety net to cover unexpected expenses or future changes to income and set up a weekly budget).

Getting Serious About Super: How to Set Yourself Up For Retirement As A Young Adult

In Industry News | Posted 2 weeks ago, 13/01/2021 at 4:41pm

Getting serious about your retirement savings in your 20’s is one of the best things you can do for your future. Saving is a life-changing skill to have. Are you on track to retire comfortably?

Everyday Habits To Set You Up For Financial Success!

In Bookkeeping Basics | Posted 16/12/2020 at 5:24pm

Getting into good financial habits can set you up for success when it comes to living expenses, goals and financial stability. Here are our top 10 habits you can do to incorporate into your lifestyle.

Open for Business: Crucial Questions all Startups Should be Asking Themselves

In Latest News | Posted 03/12/2020 at 3:26pm

Starting and running your own business requires a mass responsibility that will undoubtedly involve a significant lifestyle change and a large financial commitment. On top of ensuring that all of your research and planning is finalised, begin your journey by asking if you’re truly ready for the complete life change you’re about to embark on.

To Audit or Not to Audit: A Guide For Small Businesses

In Latest News | Posted 26/11/2020 at 4:45pm

A business audit is a thorough examination of a business’ financial records to verify they are accurate. This involves looking through financial statements and ledgers to make sure that all the figures add up. An audit helps businesses find any errors or discrepancies in their accounting which can lead to problems in your financial reporting

Understanding Accounting: What is a General Ledger?

In Latest News | Posted 13/11/2020 at 5:02pm

Accounts that are typically recorded in a general ledger include assets, liabilities, equity, expenses, and income or revenue. They hold information that is important for preparing a business’ financial statements.

Teaching Kids About Money: Part 2

In Latest News | Posted 30/10/2020 at 8:14pm

To extend on our last article, today we explore some additional skills and concepts that are the basis of good money management. While some of these seem a little complex for young children, the earlier they begin to grasp these concepts, the deeper an understanding they will gather as they get older.

Teaching Kids About Money: A Guide to Good Money Habits For Your Child

In Bookkeeping Basics | Posted 15/10/2020 at 10:32pm

One of the benefits of starting learning about money early is that young children are quite impressionable. As kids get older, it can be tough to break bad money habits. To help you teach kids how rewarding it can be to save up for something they want, we outline some strategies you can use.

When Things Don’t Add up: How to Detect Bookkeeping Fraud in Your Company

In Bookkeeping Basics | Posted 25/09/2020 at 8:50pm

There are many different types of fraud that can occur within businesses. The ATO often audits businesses to ensure they are following the correct processes and keeping appropriate records. So, it’s important to understand the types of fraud to know what to look out for in your business, should you experience this unfortunate situation.

Free Mental Health Resources for Small Business Owners

In Bookkeeping Basics | Posted 11/09/2020 at 3:18pm

If you’re struggling, the first thing you should know is that you are not alone. Focusing on your mental health isn’t selfish or silly – it’s important. Sometimes taking a step back and taking a moment to give yourself a break and seek professional help is necessary to refocus your brain.

Most Common Small Business Accounting Errors To Avoid

In Bookkeeping Basics | Posted 27/08/2020 at 2:14pm

Making the right calculations and correctly recording your cash flow is not only important for legal reasons, but also for tax purposes. Errors can be costly to fix. That’s why some business owners opt for hiring external help from a professional bookkeeper, accountant, or tax agent. If that’s the case, always ensure they’re certified for the job and have endorsement from other small businesses.

What is Open Banking and How Will it Affect Your Business?

In Bookkeeping Basics | Posted 07/08/2020 at 7:08pm

Open banking is all about transparency and it gives bank customers direct access to their data and allows them to request that data to be sent to other financial institutions.

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