As we come to the end of the financial year, there are some issues that should be considered to ensure that your tax affairs are in order.

Janelle Manders at HLB Mann Judd has put together some general guidance and advice to help make year end run smoothly. This includes items on:

• Investment Allowances
• Bad Debts
• Staff Bonuses & Commissions
• Stock on Hand
• Superannuation
• Depreciable Plant & Equipment

Plus some advice for the 2009/2010 year ahead:

• Individuals - Reforms to Income Test
• Employers - Reportable Super Contributions

Read full article>>

Another happy blueStar customer talks about their business and implementing Greentree...

EnviTE

If ever the expression ‘can’t see the forest for the trees’ was more apt, it’s in this case. When the efficient management of environmental projects got bogged-down in 3,500 general ledger codes, Greentree showed the way.

“blueStar Business Solutions provides the peace-of-mind confidence that support is readily available. They’re great at presenting all the options and working through them with us to achieve the most optimal outcome.”

Read full story>>

These are some of the Greentree End of Year processes that you need to take into account:

• Enter any FBT items for the Employees via the HR>>Payroll>>Other Functions>>HR Journals and add FBT value to the FBT Transaction Type. This only relates to Reportable Fringe Benefit (i.e. Benefits provided in excess of $2,000 excluding Meal Entertainment) that needs to be included on the Payment Summary.
  
  
• Run any Annual Standing Transactions for GL via Process>>GL>>Update Standing Transactions.
  
  
• Add the New Year to all relevant Calendars via System>>System Setup>>Calendar Maintenance – For HR calendars ensure the type of Year is set to “Other” and NOT Standard. Ensure the End of Year Date is CORRECT.
  
  
• Prepare and Carry out Stock Take for the year for Inventory items through Process>>Inventory>>Prepare Stocktake/Enter Counts.
  
  
• Add the new Reportable Superannuation Employer Contributions Transactions Type for new 2009/2010 Tax Laws via the HR>>System>>Payroll>>Transaction Type>>Deductions.
  
  
• Carry out Bank Reconciliation to EOY.
  
  
• Ensure all Depreciation processes for each month has been carried out through Process>>Fixed Assets>>Depreciation>>Live. Remember depreciation will only be carried out to the current Posting Period in Fixed Assets so ensure your posting period is correct.
  
  
• Ensure ALL End of Month Reconciliations have been carried out for the 2008/2009 FY for all Modules.
  
  
• Review Foreign Currency Reporting rates for New Year via System>>Foreign Currency>>Reporting Exchange Rate Maintenance.
  
  
• Close 2008/2009 calendar periods.

If you have any questions, please contact us>>

A big welcome to our latest blueStar customer...

Buy one HR module and get another for FREE*

People for most companies are the largest single expense - Can you afford not to be managing them cost effectively?

This great offer is only available until 30 June - so if you wish to purchase any of the HR modules, please contact us ASAP.

Greentree's Human Resources modules help define HR system consistency...

• Avoid 'hot water' risks by managing compliance to legislation
• Maximise productivity by instilling a 'well-being' framework
• Optimise people capability through measured training systems
• Overcome employee attrition with 'right fit' recruitment tools
• Create an empowered self-service culture with online tool options
• Boost visibility and access with one secure access point for information
• Keep ahead of potential grievance issues by monitoring scenarios

Read more>>

*the purchase of any HR module entitles the customer to 1 FREE HR module of equal or lesser value. "FREE" means NO initial purchase cost for the "FREE" module, but future annual maintenance will apply. Offer only available until 30 June 2009.

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We hope you enjoyed this edition of "Better Business Together", we'll be back soon with more blueStar and Greentree news.

Kind regards,
The team at blueStar