NDIS Sole Trader Foundations of Bookkeeping, presented with okke

Are you building a new NDIS business or want to grow the NDIS part of your business?

Knowing how to set up and systemise your bookkeeping, invoicing and cashflow systems is a key part of running a successful business - no matter the industry. However, having the specialised information delivered specific to working within the NDIS system is priceless.

With our friends at okke, we cover in this webinar:
- Setting up NDIS compliant business systems
- Understanding what the NDIA and Plan Managers are looking for in service provider invoices
- Understand and simplify your tax and reporting obligations
- Remove financial admin stress and get back to doing what you do best!

This webinar features our friends at ‪@okayokke‬ who are passionate about NDIS sole traders and helping them simplify the management of their cashflow and finances so that they can focus on the more important things.

KEY TAKEAWAYS:
-Set aside time on a regular basis to go over your bookkeeping, whether it's weekly or fortnightly, so it doesn't pile up.
-Have a separate bank account for only business transactions, keep it separate from personal finances
-Put a system in place for record keeping that will make it easy for you to pull up documents as you need them.

RESOURCE LINKS:
Sole trader income tax offset information
https://www.ato.gov.au/business/incom...

Information regarding GST for NDIS services:
https://www.ato.gov.au/business/gst/i...

Money Smart tax calculator:
https://moneysmart.gov.au/income-tax/...

NDS Provider toolkit download to make sure you are compliant:
https://www.nds.org.au/images/resourc...

Okke invoicing and bookkeeping software, free for 6 months with unlimited NDIS compliant invoices:
https://okokke.com/ndis-invoicing

okke bookkeeping terms glossary
https://bit.ly/okkebookkeepingglossary

WEBINAR CHAPTERS:
00:00 Webinar start
03:22 Foundations of Bookkeeping for NDIS Sole Traders
04:22 Financial advice disclaimer
05:16 What is a Sole Trader?
06:00 What is bookkeeping?
07:02 Sole Trader considerations for the ATO
09:00 Sole Traders and Superannuation
09:59 GST and the NDIS for Sole Traders
12:51 Other information management obligations for Sole Traders
16:04 General bookkeeping terms glossary
21:52 Starting off as a Sole Trader, first steps
23:00 Keeping business expenses separate to personal spending
24:35 Setting up a bookkeeping routine
30:30 Storage obligations for financial and other records
34:00 How to make your invoices NDIS compliant
38:10 Allowing for different payment options for self-managed participants
40:50 What's the difference between bookkeeping and accounting?
42:28 Modifying invoices for GST and non-GST applicable clients
45:00 Bookkeeping costs digital or analogue being business expenses
46:22 Managing tax or PAYG expectations of seasonal work with the NDIS
49:20 Updates and add on process to okke software
51:00 Trial options for okke for NDIS Sole Traders