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Signing Documents Made Easy with Boyce & DocuSign

27 November 2020

Boyce are excited to have partnered with DocuSign to sign documents online in a quick and easy process.

Some of the benefits are:

  • A safe way to sign documents during COVID-19
  • A quicker way to sign documents, with most signing processes only taking a few minutes for you to sign on your computer, tablet, or smart phone.
  • A more environmentally friendly option that limits the use of paper.

What can be Signed with DocuSign?

You will see your Boyce Team sending Activity Statements, Tax Returns and Financial Statements to you through DocuSign.

A significant amount of ASIC and Company documents can’t be signed due to legal or ASIC requirements. We will only send you documents via Electronic Signing that we are happy for you to sign.

Requirements

DocuSign requires that each signer has a separate email address and mobile number for the digital signature to be valid. If we only have a shared email address or mobile in our system your accountant may contact you asking if you can provide an alternative to enable DocuSign to be used.

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Stay Cyber Safe - MyGovID Potential Phishing Scam Alert

8 October 2020

Phishing is a method of stealing confidential information by sending fraudulent messages to a victim. It is one of the most prevalent scams reported in Australia.

We’ve become aware that there may be a way for criminals to phish your MyGovID credentials by sending you to a fake website.

Please make sure that whenever you log into MyGovID, the URL starts with https://mygovid.gov.au/ as per the below image. Please note the trailing slash as it is very important.

These are sophisticated scams. We urge our customers to be cautious at all times.

If you have clicked on a link or provided your personal information, contact Services Australia on 1800 941 126.

To stay up to date on the latest online threats and how to respond, visit cyber.gov.au.

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Xero – Changes to the ‘Starter’ Subscription

24 September 2020

Xero have announced an exciting change to the ‘Starter’ subscription. This is the entry level plan for Xero and is available for $17.50/month when purchased through Boyce (RRP $25/month).

Xero Starter Plan now includes;

  • Send up to 20 sales invoices and quotes (previously limited to 5 per month)
  • Enter 5 bills
  • Unlimited bank reconciliations (previously limited to 20 per month)
  • Payroll for 1 person
  • Capture bills and receipts with Hubdoc (limited to 5 bills per month)

This change means that this plan would be ideal for people who;

  • Want to start some invoicing to their customers
  • Want to keep smaller businesses organised with a cashbook that offers an opportunity to take advantage of most of Xero’s features.
  • New businesses that want a cost-effective starting plan that is easy to upgrade as the business grows.
  • Want to keep track of their personal income/expenses and be able to flag deductible expenses

We also have options for Xero plans that are only available through Boyce. See below.

This new package is a great option for any smaller businesses looking to move to Xero or as a downgrade option for any businesses on a larger plan that would be suited to the adjusted ‘Starter’ Plan.

If you would like to take advantage of the new ‘Starter’ plan or discuss other plans with Xero, please feel free to contact your Boyce accountant to work through what suits you best.

Boyce MI - Management Reporting Made Easy

6 August 2020

Earlier this year, we proudly and successfully released our next generation management reporting application Boyce MI (BMI).

BMI was designed to take the guess work out of the monthly reporting process; putting easy to understand information into your hands so you can make better business decisions.

BMI was built from the ground up as a web application that connects with accounting data in the cloud, so you easily connect and access your information from anywhere with a modern web browser.

Benefits of BMI

  • Boyce’s unique management reporting system at your fingertips
  • Know where your business’s cash flow is and flexibly change your plans to meet demands
  • Work on your business, not in your business, by proactively planning your year and then reporting progress against the budget
  • Readily adapt to change by creating additional budgets or reforecasts for what-if planning
  • Work wherever, whenever. Accessible from a modern web browser over any internet connection
  • Fast multi-level reporting (whole of business, enterprise and summary)
  • Built in help documentation for step by step guidance
  • Receive monthly updates to keep you in the loop with new developments & features

​Features of BMI

  • Works with Xero, MYOB AccountRight Live (cloud only) and any accounting system with Excel export
  • Import a budget in the Boyce format
  • Reforecast - export actuals over your existing budget
  • View reports on screen or export to Excel and PDF

BMI is available in a monthly reporting package or to purchase directly.

If you would like more information on how Boyce MI can streamline your reporting process and help you to strengthen data-driven decision making for your business, please speak to your accountant.

Single Touch Payroll - Compulsory from 1 July 2020

8 May 2020

Single Touch Payroll (STP) will be compulsory for all employees from 1 July 2020, excluding closely held employees.

STP is the process of sending tax and superannuation information from your STP-enabled payroll or accounting system to the ATO when you process the pay cycle.

If you only pay closely held employees, an extension has been granted to 1 July 2021 for you to report.

Closely held employees are:

  • Family members of a family business
  • Directors or shareholders of a company
  • Beneficiaries of a trust.

Micro-employers (1-4 employees) are now able to have their registered tax agent lodge on their behalf until 30 June 2021.

Boyce strongly recommends having a suitable STP-enabled accounting or payroll system as soon as possible.

Reporting information for the JobKeeper payment is extremely easy from your software and is seen as the most efficient way of reporting this to ensure the payments are received as soon as possible.

If you would like to discuss Single Touch Payroll or STP-enabled software, please contact your local Boyce Accountant so we can assist you.

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