Xerocon 2017

Last month we travelled to Melbourne to attend Xerocon, the annual conference held by Xero accounting software. It was a great opportunity for the team to learn more about what Xero has planned in the future, to spend quality time bonding over ramen, and to hear from inspiring speakers. Here’s what our team had to say about their experience:  Keegan I really enjoyed travelling to Melbourne with the team for…  Read more

How Prime Partners automates its accounts

At Prime Partners we’re big fans of using the latest technology to make business as easy as possible. We started using Xero back in 2012 and have always practiced what we preach. A product we’ve been using in our business to great effect is Receipt Bank. This is a receipt and expense processing system that is linked up to Xero. What’s so great about Receipt Bank, is that it can automatically…  Read more

How long do I need to keep records for?

There is no such thing as a silly question, especially when it comes to record-keeping. Records are vital for both individuals and small businesses in ensuring their tax returns are prepared accurately, their figures can be backed, and the ATO won’t come chasing after them. Our clients ask us time and time again ‘How long do I need to keep records for?‘ so below we have compiled some information to…  Read more

Avoid These 5 Costly Accounting Mistakes

A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to…  Read more

Why Keep Your Data in the Cloud?

Cloud computing is quickly moving from an obscure concept to an everyday reality for small businesses all over the world. A 2015 survey of small business owners found that 52% had already adopted some form of cloud-based data storage; however, a general lack of awareness regarding the logistics and advantages of cloud computing has made others a bit more resistant. The truth is, there are several very practical benefits to…  Read more

Three Ways an Accountant Can Save You Money

Many small business owners think they’re saving money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, hiring an accountant to oversee your finances has many benefits. Leaving your books to a pro will free up time so you can focus on serving your clients and implementing plans for growth. Here are a few ways an accounting professional…  Read more