In this edition:

Welcome

Cryptocurrencies and tax

SMSF investments in cryptocurrencies

How much life insurance do I need?

Tax treatment of long term construction contracts

MYOB updates

Quickbooks online update

Xero feature update

Quickbooks online update 

Quickbooks Online Plus now introduces a new feature, Projects, which helps you organise all the pieces of a project, including transactions, time, and running reports – so you can focus on the work you want to get done, each project at a time. Projects can be jobs, trips, engagements, and of course projects. This new feature allows users to interact with QuickBooks in the same way they handle and organise their project-based work.

With this feature, you can:

Stay organised by project:

• Organise your books the way you work by keeping all job-related information in one place.
• Connect invoices, expenses and transactions to each project.
• View all your open jobs to see where you're spending your time.



Understand each project's profitability:

• Easily run reports to understand if you're making or losing money on each individual project.
• Four custom reports help you easily see your profitability, invoices that need to be sent, sales transactions and any non-billable time.
• Track all time and expenses, and view outstanding payments and unbilled work.

No more cumbersome workarounds to understand profitability or spending extra money on third-party solutions to manage finances for your jobs.