Declaring bankruptcy in Brisbane

Being in debt is a common occurrence in life.  However,  it comes to a point where one becomes so deep in debt that they often discover that it is impossible to cope with such a situation. Bankruptcy is a legal declaration recognising an individual’s incapability to settle their debts. Such a declaration usually comes after legal proofing.


Filing for bankruptcy may be done by an individual (the debtor) or by creditors through filing in a court of law. One who is in a state of bankruptcy usually gets relieved of nearly all the debts. However, it is important to seek advice from a financial professional before deciding on filing for bankruptcy.


Other than being relieved of debts, some repercussions are usually associated with bankruptcy. For instance, after one successfully files for bankruptcy and is declared bankrupt, they may not easily access credit thereafter. Another consequence is having their names permanently featured in the national credit history list.  A debtor also becomes ‘enslaved’ to a trustee when it comes to matters of their finances as well as assets. Trustees make choices entirely on behalf of their client (the debtor).


A keen examination of the activities that trustees are involved with reveals that:

  1. Trustees relay information about the bankruptcy state of their clients to creditors.
  2. They meet the creditors and listen to their say regarding debts owed to them by the debtor.
  3. Trustees take control of a debtor’s income in order to take a part of it and make repayments to creditors.
  4. A trustee may sell some assets of a debtor to raise money to repay off the debts owed to creditors.


Filing for bankruptcy

The ‘good’ news is that there is no fee required when one decides to file for bankruptcy. All that one needs is to visit the financial department of their state or country of residence. There will be a decision on whether they are eligible for declaration as being bankrupt or not.


For the filling to be successful, one has to be a resident of a given country or should have assets or business ventures in the country that they reside in. Besides, they should be fully incapable of settling their debts.


Merits Associated with bankruptcy

  1. An individual gets relieved of nearly all their debts from creditors. A debtor gets immunity from any legal process that may be carried out by creditors.
  2. A debtor’s income is protected by law to some limit from being deducted.
  3. A debtor is entitled to run any business activity without restrictions.
  4. The bankruptcy condition of a debtor is respected by creditors. They are barred from taking any legal action even after the bankruptcy period elapses.
  5. Assets that belong to a debtor are protected by law after the declaration of bankruptcy. No one is permitted to tamper with their property after their state of bankruptcy has been declared.


Demerits associated with bankruptcy

  1. The duration for bankruptcy may be lengthened by a trustee upon failure to adhere to regulations and rules. This is likely to hurt the debtor even more.
  2. The debtor’s record concerning bankruptcy remains in the national credit history for a longer duration or even forever. This may hamper their quest when seeking financial assistance from banks and other financial institutions.

Turn to NR Consulting help with bankruptcy in Brisbane if you still have doubts on how to go through this process on your own.




Why Do Businesses Make Use of Managed IT Services in Melbourne

There has been a major uprising in managed IT services. This is a business which is greatly successful, much more than any other kind of business. So what’s so special about managed IT services? There are business both big and small who are in favor of using managed IT services in Melbourne. The following are some of the reasons why this is so.

Most business owners these days want to have invest in services which

  • Help improve the efficiency and productivity of their technological operations
  • Provide better security and compliance with the latest standards
  • Provide maintenance services on a timely basis
  • Services which are budget friendly yet useful and effective at the same time
  • Allow their manpower to focus on the other aspects of business
  • Help shift capital expenses to operational expenses
  • Help manage cost and provide good return on investment

Getting an in-house IT staff is usually burdensome, especially for startups or small businesses. There is already some issue with finances. Therefore starting their own IT department is usually out of question. It is easier to overcome labor constraints. It also helps strengthen the IT infrastructure of a business without having to make heavy investments.

Plus there are so many ways in which data is transmitted these days. Any shortcomings and a business is bound to face security shortcomings when it comes to protecting their data. Since most of the data contains confidential information, if it falls into the hands of someone with a malicious intent, things can quickly escalate out of control. This is why there is a growing need for professionally managed IT support.

Business owners also need to make sure that they are in compliance with the ordinances issued by the government. Failure to do so could create problems for a business. Managed IT support can help make sure that the businesses comply with those ordinances and there is no room for mistakes.

Sometimes business owners have tough time concentrating on all areas of the business. The managed IT support can be a real life saver during such times. They send timely reminders for the maintenance of the hard ware and they also help ensure that the software is updated. The right technicians can handle any hardware issue. To have the luxury of someone else manage all these concerns can be a great relief and allows business owners to focus on other things.

Also the cost management is much easier with the help of managed services. Instead of having to spend a great deal of time, money and manpower on their in house IT department, businesses can save cash by outsourcing their IT support.

With so many benefits of managed IT services in Melbourne, it is no wonder that businesses choose to outsource IT services in Melbourne. These services are well equipped in dealing with different kind of businesses due to their vast experience. Plus they provide tailor made solutions for all businesses thereby making things more effective and manageable.


Important factors to consider when hiring security guards from companies in Sydney

Hiring a security guard in Sydney is not the easiest to do, considering that you will depend on them the security of yourself, your family, your guests, and employees, including your assets. There are many companies in Sydney that are reputable to dispatch highly qualified security guards, but, needless to say, that should not make you too confident hiring the first company that offers you such service.

Factors to consider when hiring security guards from companies in Sydney

To help you get started, below are information on Sydney security guard companies that you need to look for:


Consider the company’s reputation

The good news is, everything now is just right at your fingertips. You can check on the company’s ratings, visit review sites, and reference different social networks like Twitter, Facebook, and LinkedIn.

Additional Tip: You may also want to ask for their client references, most recent if possible, and talk to them, to know if they were pleased with the service they receive.

If there is a chance, you can also speak with their employees to ask what they feel about working with their agency.


How flexible is the company accommodating your needs?

Will they work with your required schedule, including graveyard duties? Can they dispatch security guards on a short term, like during events, holidays and the like? The more flexible they are, the better.

You would not want to hire security guards from company A, for your regular security service needs, and company B, for your one time security service needs. As much as possible, hiring security guards from one company is recommended as building rapport, and trust is needed for such services.


Are they insured and licensed?

They must provide you with current license of the state, and show you proof that their security guards are insured. You would never want to work with security guards that are not trained properly to do security guard duties and responsibilities.

Make sure that they have insurance, as you would not want to be liable for anything that may happen to them while on duty.

Note: It is very easy for them to claim they have insurance and license, but showing it to you is a different story. Make sure that they provide you copy of their insurance and license just to verify their claims are legitimate.


How much is the cost of their service?

Hiring the company that submits the lowest bid may not be the smartest to do, consider their qualifications, experience and overall reputation. Questions to ask under this criterion are:

  • How often they bill the services they rendered?
  • Are they charging hourly, monthly etc?
  • Can you still negotiate?
  • Are there any charges apart from the actual service they provide, insurance, transportation, and the like?
  • Who will cover costs for equipment, supplies and uniforms?

But other than the questions above, there is one critical question you must not forget to ask, can you afford their services? You would not want to get the best service but end up with a broken bank account.

Rushing is definitely not the best thing to do when looking for a security guard company to trust. Take as much time as you can, and make sure you are on the right path all the time.




Lawyers Gold Coast- Picking the right solicitor

Whether you are drafting a will, thinking about buying or selling a business or perhaps facing issues in the field of family law, hiring the right lawyers in gold coast is crucial. The following are a few tips to help you select the right solicitor in Gold coast.

Go for a lawyer with an impeccable reputation

You would find out that most attorneys offer a free first consultation. Make sure you attend such a meeting with at least three or four lawyers in your chosen genre. Make sure you take advantage of these meetings. You could determine what kind of person the solicitor is. Whether they are honest about their work or simply someone who could be making a tall claim. Also getting advice regarding the same case from three or four attorneys would help you determine where you stand. The prospects of winning the case or it being in your disfavor.

Look out for the following traits to know whether you are dealing with someone honest and true to their profession:

  • Look for signs of eye contact. Someone who is open and honest about their work would make direct eye contact with you.
  • Make sure you ask them if they have experience dealing with your particular kind of case
  • Get to know if the case has any chances of success. A lawyer who sounds too overly optimistic should be your first choice. An attorney always calculates the risks and the gains and then they could come to a decision. Someone who is honest would be able to give you a low down on where you actually stand and what are the chances of you succeeding.
  • Also you must feel secure while talking to the attorney. There should be some level of understanding. After all you would be discussing intricate information and you must be comfortable sharing it with your lawyer.

How responsive are they?

This initial meeting is also a time to decipher how responsive the lawyer is. Whether they are in tune with the case and they are taking an interest in it or not. Sometimes lawyers are way too bus because they have a good reputation and have loads of clients coming in. However this may cause them to push your case somewhat at the back. If you need someone who is quick to work, then choose someone who isn’t too busy.

Whether you could afford hiring them?

Finding the right attorney also means that you can afford their services. Make sure you inquire the cost in the initial meeting only. This would help you short list the attorneys whose services you could afford thus helping you save time. Before you sign the contract, make sure you have them write the cost of their services in the contract. This would help avoid any problems later on.

Every attorney would quote a different price for your case this is because each have their own method of working. Choose someone whom you think would do justice to your case.

Keeping these things in mind would help you find the best lawyers on the Gold Coast.


Leadership Training

The Advantages of Women Leadership Training

Despite the fact that women play a major role in the corporate industry, there are only 3% women executives in the Fortune 500 Companies. In terms of first level leaders men represent about 51% and women about 49%. However, it has also been observed that as women approach mid and senior level management positions the numbers keep falling off.

The several reasons why women may not play a key role in leadership positions could be attributed to the following factors:

  • There is a lack of development opportunities
  • No women leadership training available at management levels
  • Lack of applicable management culture because too much attention is given to bottom line growth
  • Lack of resources

Women leaders are known to bring in unique capabilities and they make use of their ability to face all kinds of leadership challenges.

The benefits of women leadership training

  • Businesses which make an effort to bridge the gender gap and allow women leaders to come forward have an option of retaining a larger pool of future leaders
  • Having women in leadership roles enables companies to possess a diverse team of leaders who have different perspective and have better ability to think out of the box.
  • Such organizations are known for their culture of equal opportunity and therefore are better able to retain the budding talent as well as attract individuals who are known for their creative leadership abilities.
  • Women leaders who work for companies which focus on women leadership training are often happier and more productive. Their productivity in turn helps keep everyone happy. Employees working under women leaders tend to perform well because their management takes an active interest in them.

What should women leadership training focus on?

There are certain topics which should be the primary focus of leadership training for women in Australia. These include the following:

  • Leadership skill which would enable them to meet specific leadership challenges
  • Use their own personal influence and ability for the betterment of the organization
  • Training which helps women leaders sharpen their business acumen. A program which helps them understand the market, managing talent, financial monitoring and setting goals and then making evaluations.
  • Ability to manage conflicts and resolving issues amiably.

There are also certain topics which are traditional yet equally important that should be implemented. These include developing strategic thinking, team building, honing emotional intelligence and developing presentation and communication skills.

Developing a leadership is important for all companies if they want to prosper and grow. In today’s dynamics, companies which take care of the personal growth of their employees tend to fare well then their competition. It’s a known fact that women leaders bring a great deal more on the table. This is because women have an innate sense of empathy which simply needs the proper training to be used skillfully at the work place. Also individuals working for women leaders tend to outperform those who work for male leaders. This is because they are in sync with their managers and because the communication is free flowing and easy.




4 Best Accounting Apps for Your Business

Accounting is fun for a few people but for majority of us its hell of a burden and a task that gives you nightmares and never ending headaches. We need our work done related to accounting as soon as possible with the help of accountants brisbane northside. Whether there is an accounting student stuck on a query or a business man fed up of account issues at the end of a hectic day, everyone needs a miracle when it comes to accounting. As we are living in the Information Technological era where internet of things is on the top of everything.

Some considering IT specialist have developed few software and applications that will not only make accounting easy but also a great fun. In the following article I have discussed the four best apps that can help you go through your accounting tasks.

1. Akaunting

Just from the name it can be judged that it’s an accounting app for sure. This is one of the most popular application. This app is used widely in many business by store owners and by the finance and accounting students. There are many apps installed in shops so that whenever you are about to pay, app connects you to
the Akaunting app for your billing on behalf of the shop. Another reason for its popularity is that it is installed behind the billing as a third party for installation in google play store as well as the App store.

2. GnuCash

Although this app was established a long time ago but the main programming and billing on GnuCash started in 1997 where as it was officially released in 1998. In 2012, the android developing of the app was announced. GnuCash is more popular among the users belonging to various NGOs. App has also been involved by law agencies in order to pay off student loans in many parts of the world. This app also features accounting for small and homes base business.

3. Kiwili

Kiwili is also a popular ERP or enterprise resource planning system. This app not only refers to the accounting but also known as a good project management app. Kiwili is an online application or software. It was basically designed to handle short term and small business tasks. Along with the project management and accounting, this app provides help with business management. The thing that makes the app popular is that it is free.

4. Officewise

The app was founded in 2012. Main purpose of this app was to share administrative burdens of small business. Although it is a paid application but Officewise provides a free trial to those seeking for the perfect application for their accounting related issues. After free trial is over, it provides three types of payments plan to choose that suits you best.


Management Program or ERP Software?

What distinguishes a management software from an integrated software for the automation of business processes?

Many people call the first “accounting programs” or “business management programs” and the second “Software Erp” or “integrated business systems”.

We go beyond simple definitions and try to understand the main differences.

Accounting and management software

Accounting software is mainly used to comply with regulatory requirements established by applicable laws (calculate VAT to be paid, withholding tax, newspaper, balance sheet, etc.). Almost always these software are used by administrative employees who work mainly for the above purpose. Other business users do not use these procedures and are therefore excluded from the system.

In many cases, especially in the smallest businesses, the choice is made on the basis of suggestions from the accountant, who obviously recommends using a software compatible with the one he used in the studio, without considering that the accounting of a company may require criteria of organization and evaluation very different from those set for the sole purpose of fulfilments …

With the management software for companies, in addition to the functions of accounting, we find other functions such as sales management, purchases, warehouse, production etc. In this case, therefore, many business users use management software to enter data and to consult updated information.

Not just functionality

However, the fact that a software has multiple features is not sufficient to create efficiency and automation of operations.

Many management software, for example, have been written over many years of activity, adding new modules and functionalities over time. This approach is often not efficient because the system does not have an overview of business flows and above all there are no functions to create automation rules that connect all the user’s operational steps.

If we take, for example, the accounting functions of a management software, we will see that administrative users manually perform a series of operations that are completely free fromactive and passive cycle documents (sales and purchase invoices, receipts, payments, etc).

What can this do?

First of all, the accounting facts could represent a different reality from the management one. This is not a secondary aspect, especially for the ownership of the company, which in this way does not have adequate tools for control. Let’s assume that the new administration employee is wrong to associate some accounts of the chart of accounts with accounting records and a revenue item that was associated with a certain category of products is associated with another category, how will we realize this error?

Another important factor are the times of the activities, which in this case are certainly longer, and the impossibility of creating automation rules that modern systems provide. To learn more about this topic, read the experience of Matteo Pillon , an expert in management control, on how to manage accounting with an ERP software.

Beyond accounting. Marketing and sales management.

Let’s move for a moment from accounting and think about sales. Very often the company sellers do not use management systems as they do not have applications that support their needs. A seller must be able to track the activities he / she does with a potential client or with the client acquired, must have simple and immediate information to decide the actions to be taken. We talk about users who are often off-site and therefore have to work with mobile devices and in completely different contexts from the user who works comfortably seated in front of the computer in the office.

What we usually see is the “do it yourself” solution, that is: the commercials manage their activities with individual tools (file word, pdf, excel, so many mails etc ..) then they pass the orders to the commercial back office via e-mail. provides to enter the data in the management program. Once again we lose the benefits of automation, manual management processes with a high risk of errors and obviously higher costs for operations .

You do not have an overview of what the company is doing towards a specific customer. Once again we have the different departments that access information that is isolated on different systems.

Marketing does not have complete information to plan targeted campaigns and automatic actions when precise sales-related events occur.

Integrate the management with other vertical software

Many companies try to integrate management software with customer relationship management systems (CRMs). Integrating completely heterogeneous systems involves considerable costs and concrete management difficulties. These strategies pose again the problem of automation .

How can I program automatic checks throughout the supply chain if a data is processed by different programs at different times? What happens when the software manufacturer performs updates? Will the synchronization system continue to work or do I have to take action? If the seller opens the card of the customer in his CRM will be able to see in real time the administrative data, ie the payments situation, the purchase history, open orders etc.? And if the commercial inserts a note on the CRM related to the agreements made for payment, can the administration view this information?


How to open a company: guide in pills

You are aspiring entrepreneurs but do not know what kind of company to open and how to set it up? Do you want to know immediately all the responsibilities for the entrepreneur and for the members? In this article we try to provide the answers for those who choose to open an independent business, analyzing and comparing partnerships of people and capital.

What kind of company?

The company is an economic organization that produces goods or provides services. Depending on the sector of activity in which it operates, our economic system places them in three macro-sectors :

  • Primary (agriculture, forests, animal husbandry and fishing);
  • Secondary (manufacturing, mining, production, construction);
  • Tertiary (service activities, including the PA).

=> Discover rules and incentives for starting a business

Companies are also distinguished on the basis of profit. In this area there are companies working to achieve a profit to be allocated to the owner or partners of the company, and the companies ‘ non-profit ‘, non-profit organization such as non-profit , non-profit organizations of social utility, which operated as a manager, like any private company, they operate with the constraint of covering costs but do not distribute profits to the owners (to set them up, they need a “found raising”, search for donors and sponsors consistent with their mission).

=> Find out how to choose the right activity

What legal form?

The companies are also distinguished in partnerships (Snc and Sas) and joint-stock companies (Srl and SpA).

In order to set up an SNC (a collective company), a written document must be registered with the Business Office, which must include: general information on the shareholders, company name, indication of the shareholders who are responsible for representing the company, corporate purpose, indication of the registered office, contributions by each member, services to which all the members are obliged, duration of the company and methods for the distribution of profits and losses.
The partners they are unlimitedly and jointly responsible for social obligations. Amounts can not be distributed among the members if they are not actually obtained profits and, if a loss of the share capital occurs, it is not possible to distribute profits until the share capital itself has been reinstated or reduced accordingly.

=> Business creation: instructions for use

The SaS (limited partnership) has two categories of members: general partners and limited partners. The difference between the two types consists of the greater obligations and responsibilities provided for the general partners with respect to the limited partners. The limited partners, in fact, respond for solidarity obligations limited to the quota conferred while the general partners are unlimitedly responsible. The greater responsibility is compensated by the fact that only the latter can represent society and make their names appear in the company name.

=> Establishment of a Srl

La Srl (limited liability company) is a limited company and responds to social obligations with its assets. The minimum capital is 10,000 euros, however, special limited liability companies with a share capital of one euro are under development. If the company formed a unilateral act, it becomes “unipersonal limited liability”. The characteristic of this company is the presentation of a single member.

=> How to open a simplified Srl

The SpA(Società per Azioni) is a capital company with patrimonial autonomy. The company repays its debts with assets. The member’s quality is obtained through the purchase of shares. The shareholders, however, do not administer the company nor can they take direct knowledge of the documentation relating to the administration activity. When the capital is reduced by more than a third as a result of losses, the directors must convene the meeting. If, within the next financial year, the loss is not reduced by at least one third, the shareholders’ meeting or supervisory board approving the financial statements must reduce the capital corresponding to the loss ascertained. If the loss involves the reduction of the capital below the legal minimum, currently equal to 120,000 euros,

As with the company, the corporate law reform offered the possibility of setting up a joint-stock company by a unilateral deed, ie with a single shareholder ( read more ).

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