Accounting Transitions
EEA Advisory articles tagged Accounting Transitions.
Single Touch Payroll Phase 2: the reporting fields most employers still get wrong
Many Australian employers continue to face avoidable errors in STP Phase 2 payroll reporting. This article identifies the seven most problematic reporting fields and explains why details like income streams and tax status matter. It provides practical steps for refining payroll data and avoiding penalty notices. With clear guidance and actionable tips, payroll officers can keep their systems up to date while ensuring compliance and employee satisfaction.
Building & construction industry retention payments — accounting treatment under AASB 15
Retention payments present both opportunities and challenges for Australian builders. They secure a percentage of progress claims as a safeguard while impacting cash flow. Under AASB 15, revenue is recognised when performance obligations are met, even if cash is withheld. Accurate classification, journal entries, GST timing, and reconciliation are vital for compliance and smooth financial reporting. This article explains the effects on building contracts and trust account requirements across various states.
The Difference Between a CA and an Accountant in Australia
A clear and practical guide explaining how Chartered Accountants differ from general accountants in qualifications, legal authority, fees and the services they can provide.
June’s Accounting Shift: Why It’s Time to Reassess Your Financial Guide
Introduction: The journey of entrepreneurship thrives on solid financial footing and strategic planning. In this equation, accountants play an indispensable role. But like any partnership, sometimes a fresh perspective is needed. Here’s why June might be your golden month to find a new financial partner and how to make that transition smooth. The Role of
Navigating the NDIS: A Comprehensive Guide for New Participants
The National Disability Insurance Scheme (NDIS) represents a significant advancement in disability support and services in Australia. Tailored to empower individuals with disabilities, the NDIS offers extensive support options. However, for newcomers, navigating this system can be daunting. This guide, presented by EEA Advisory, simplifies the process, helping you harness the NDIS’s benefits and explaining
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