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Debits & Credits Cheat Sheet

Debits & Credits Cheat Sheet

Asset accounts have debit balances. Debits increase Asset accounts. Credits decrease Asset accounts. Liability accounts have credit balances. Credits increase Liability Accounts. Debits decrease Liability Accounts. Equity accounts have credit balances....
Super Gaurentee to increase to 10%

Super Gaurentee to increase to 10%

The minimum percentage of Super employers are required to pay is set to increase over time, with the next increase to 10% due on 1st July 2021. This should be considered in part, a wage increase. What This Means for Small Business The proportion of wages that...
The link between Profit First and Psychology

The link between Profit First and Psychology

There is a huge psychological benefit to the profit first methodology – it is easy to see why if you are not a numbers nerd. I must admit us Accountants and bookkeepers think differently to the majority of people. You see we are constantly thinking numbers as...
Use Small Plates

Use Small Plates

One of the principals of Profit First is to “Use Small Plates” What does this mean?   Well, a common trick to eating less (without feeling like you’re eating less), is to start eating your meals on smaller plates. We tend to take whatever plate we have and fill it up...