29

Mar 2023

offshore labour hire model

Problems With The Offshore Labour Hire Model

By: Odyssey Outsourcing
Tags: australian accounting, labour shortage, Offshoring, Outsourcing

I spoke to the director of an Australian firm last week who had staff resource issues, and he’d indicated he had both bookkeepers and compliance staff in an offshore location. He’d had these staff for a couple of years and had trained them up in both SMSF and compliance (company, trust partnership, sole trader and individual returns). This firm had …

07

Jul 2022

Inflation and wage rises to affect Australian accounting firm owners

By: Odyssey Outsourcing
Tags: Australian Accountant, Indirect Costs, inflation, Outsourcing, wage growth

Over the next 12 months we can expect increased pressures on pricing for domestic Australian accounting employees. At the moment, the Australian Bureau of statistics has the November 2021 Full-time adult average weekly total earnings at just under $2,000, with specific higher demand industries being above average. The Australian accounting news sources are already reporting large salaries being offered to …

30

Jun 2022

Focus on the client and leave the Australian compliance tax work to Odyssey outsourcing

By: Odyssey Outsourcing
Tags: Accounting Regulations, Australian Accountant, Australian tax compliance, compliance, Outsourcing

Are you too busy? We recently received a comment from a client that pretty much summed up everything good about outsourcing your compliance work. Odyssey believes that Australian SME businesses are best served when Australian accounting firms are providing additional work outside the compliance space. And with a never ending raft of new tax laws, guidance notes, practice notes and …

16

Jun 2022

Why Australian accounting firm owners need to get out of the office (permanently)

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting, compliance, Offshoring, outofoffice, Outsourcing, Post-COVID, Remote working

The successful practice does not need the Australian accounting firm owner to be present in the office, and should not need the owner to be contributing to the bottom line. Allow me to explain by way of the evolution of the accounting firm. In the first quadrant, an accountant gains experience through working for another accounting firm as an employee. …

09

Jun 2022

Best Practices in banking security

Australian Accountants, Time To Re-Look At Your Banking Security

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting, Australian Accounting firm owners, Bank security, Outsourced Accounting, Outsourcing

In the last 3-5 years, there has been increased losses through lax security around bank accounts. Instances include loss of email accounts of senior executives and these accounts are used to email the junior payable accountants requesting payments to fraudsters bank accounts, all the way to loss of control of bank accounts through loss of control of mobile phone banking. …

02

Jun 2022

Best practice in phone security for Australian accountants

Australian Accountants, Time To Re-Look At Your Mobile Phone Security

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting firm, Mobile Phone Security, Outsourced Accounting, Outsourcing, Phone Security

In the last few years, there has been increased activity by nefarious actors in the identity theft and bank hacking. Many bank hacks occur with the loss of control over the mobile phone number, frequently through SIM jacking. There are plenty of sites online that can give information on how best to protect your mobile number from being hijacked. Losing …