Zoe's Business Solutions

 Hello there, I had hired a bookkeeper and an accountant for my business from the beginning. A lot of people thought that I was wasting because they did the same thing. However, most of them are mistaken to think that they can be interchanged. A bookkeeper is involved in the preparation of the financial reports while the accountant is involved in analysing those reports to help the business owner make informed decisions. The bookkeepers do all the laborious work by managing payroll, inventory, reports, and managing receivables and payables. While the accountants help with tax planning and financial planning. Here is an article that will explain the difference of their roles in detail.  https://www.agibookkeeping.com.au/the-difference-between-bookkeeper-and-accountant/

 Tyro Payments (ASX: TYR) looks to be putting the worst behind itself after revealing a first half profit and, for the first time as a publicly listed company, positive free cash flow. The company, which recently settled a class action law suit relating to a 2021 system outage, says initiatives to focus on growth and cost management delivered the strong 1H23 results and a profit of $1.1 million. This represents a major improvement from the 1H22 loss of $18 million, and also included EBITDA rising by 601 per cent from $2.8 million to $19.5 million - a record result. Read More: https://www.businessnewsaustralia.com/articles/-leaner-and-more-disciplined--tyro-payments-achieves-profitability.html

 Nearly six months after stepping aside as the CEO of IDP Education (ASX: IEL), Andrew Barkla has picked up a new gig as chairman of Capsifi - an Australian business management platform based in Sydney. His appointment forms part of Capsifi’s new leadership team, which also includes the appointment of former Salesforce chief commercial officer Australia Ian McAdam as CEO, and former Imperva ANZ vice president Tony Mascarenhas as chief revenue officer. As part of the reshuffle, Capsifi founder and former CEO Dr Terry Roach has decided to hand over the reins, instead choosing to return his focus to leading the strategy and vision for product innovation at the software developer as chief innovation officer. Read More: https://www.businessnewsaustralia.com/articles/digital-business-management-platform-capsifi-names-former-idp-education-ceo-andrew-barkla-as-chair.html

 Forget the Holy Land. If Noah were looking for a place to drop anchor, this would be his dream destination. Here in Australia — at least when it comes to business — we love to operate in pairs. There are a couple of airlines, a duo of food retailers, a pair of steelmakers, two resource giants and just a handful of banks. And let's be honest, we still have four financial institutions because — despite years of agitation — they haven't been allowed to hook up into a cosy couple. Read More: https://www.abc.net.au/news/2023-02-27/company-profits-soar-as-wages-crawl-verrender/102025674

 Hey All, I have always regarded the people working in my company as my greatest support. They help me with everything from retaining clients to selling my products and advertising them for higher sales. However, finding capable people who can perform these tasks efficiently is not easy. You have to look at thousands of resumes and interview many of them to identify the right person. You need to look for qualities that are needed to fit into the work culture of your organisation. Also, you need to provide them with the environment and incentives they need to stay in the organisation. Here is an article that will help you understand the recruitment procedure.  https://www.business2sell.com.au/blogs/strategy/steps-for-hiring-the-best-employees-for-your-business

 Westpac will postpone the planned closures of eight of its branches across regional Australia, ahead of a federal Senate inquiry into the economic and social impacts of such closures. The Commonwealth Bank confirmed earlier this week it would halt closures while the inquiry took place, prompting calls from political leaders for other banks to do the same. A Westpac spokesman said in a statement that the company was looking forward to working with the inquiry, which was expected to deliver its findings in December. "Westpac will postpone eight regional branch closures that were announced in February 2023," he said. Read More: https://www.abc.net.au/news/2023-02-16/westpac-postpones-regional-branch-closures-before-senate-inquiry/101982376

 The Australian Tax Office says millions of dollars in annual tax revenue could have been lost if consulting firm PricewaterhouseCoopers (PwC) had successfully rolled out a tax-avoidance scheme it designed using confidential government briefings. A former PwC partner was recently sanctioned by the Tax Practitioners Board for integrity breaches, after it was revealed he shared confidential briefings with colleagues. Peter-John Collins was part of Treasury consultations on the design of new multinational tax avoidance laws, and despite signing three confidentiality agreements, shared details of the government plans with others in the firm. Read More: https://www.abc.net.au/news/2023-02-16/australian-tax-office-million-scheme-pricewaterhousecoopers/101980548

 Australia's unemployment rate has increased from 3.5 per cent to 3.7 per cent according to last month's figures, in seasonally adjusted terms. The number of employed people fell by 11,500, according to the Bureau of Statistics. It was the second-consecutive monthly decline in employment. The head of labour statistics at the ABS, Bjorn Jarvis, said the number of people officially unemployed increased in January as well, by 21,900. However, he said, much of that rise in unemployment was driven by a seasonal fluctuation. Read More: https://www.abc.net.au/news/2023-02-16/unemployment-rate-rises-january-2023/101981726