Phil Griffiths

Bachelor of Commerce Certified Practising Accountant Diploma in Financial Planning Professional Certificate in SMSF Approved SMSF Auditor Phil has been the Managing Director of Griffiths Advisory for 29 years, combining his expertise in taxation, business advisory, superannuation, negative gearing, and wealth creation. He also loves an active lifestyle, indulging in surfing, cycling, snowboarding, and spending quality time with his wife and two children.

Why Is Accounting Software Important?

by
Two individuals are collaborating while reviewing financial graphs and charts displayed on a laptop. The screen shows various data visualisations including line graphs, bar charts, and pie charts.

In today’s fast-paced business landscape, implementing efficient accounting software is crucial for businesses aiming to thrive, particularly in Western Australia. The tools and efficiencies offered by contemporary accounting software transcend mere number crunching, providing organisations with invaluable insights and ease of operation. Let’s delve into why accounting software is indispensable in modern business practices. Enhancing … Read more

What Is Bookkeeping?

by
A person in a yellow jacket using a white calculator on top of a large stack of documents. The desk is covered with various financial charts and graphs, colourful paper clips, and a notebook.

Bookkeeping is a cornerstone of any successful business, providing the financial clarity needed to make informed decisions and maintain compliance with Australian tax laws. Whether you are a small business owner in Perth or managing a larger enterprise across Western Australia, understanding the essence of bookkeeping can significantly impact your financial health and business success.  … Read more

What Is Xero?

by
A laptop on a table displays a financial executive scoreboard with various charts and graphs showing revenue, total revenue, cash flow, and bookings & billings. In the background, three people are engaged in a discussion, partially visible and slightly out of focus, indicating a business meeting or collaborative work environment. The setting appears to be an office with a modern, professional atmosphere.

In an increasingly digital world, managing finances through manual processes is swiftly becoming a relic of the past. Enter Xero, an innovative cloud-based accounting software that has been revolutionising how individuals and businesses handle their financial affairs.  Particularly relevant for the dynamic business community in Western Australia, Xero provides a seamless, efficient, and transparent way … Read more

What Is Accounting Software?

by

As the commercial landscape continues to adapt to technological progress, so increases the significance of integration between technology and business practices for optimal results. A primary example of this fusion lies in accounting software. This innovative tool, growing in importance for businesses across Australia, is essentially an application created to assist businesses in tracking their … Read more

Understanding the Basics of Negative Gearing in Australia

by

In the real estate investment landscape of Australia, ‘negative gearing’ is a frequently thrown-around term that often incites heated debates and differences of opinion. However, regardless of the viewpoint, it’s imperative for Australian investors to comprehensively understand the carpet before forming their opinions. Therefore, let’s delve deeper into the fundamentals of negative gearing in Australia. … Read more

Common Misconceptions about Negative Gearing in the Australian Housing Market

by

The concept of negative gearing has become one of the most contentious topics in the Australian housing market and political landscape. However, the prevailing discourse often lacks depth, promoting a myriad of misconceptions about its nature, implications, and benefits. This article aims to debunk the most common fallacies associated with negative gearing, offering an accurate … Read more

How to Write a Simple Business Plan

by

Starting a new business can be an exciting and daunting journey. As an entrepreneur, you may have a brilliant idea for a product or service, but without a well-structured plan, your business may fail to reach its full potential. A business plan is not only crucial for securing investors and funding, but it also serves … Read more

How to Perform Basic Bookkeeping in Xero

by

Bookkeeping is a crucial aspect of running any business, no matter the size or industry. It involves keeping track of financial transactions, managing cash flow, and preparing financial statements.  Traditionally, bookkeeping was done manually using paper and pen or spreadsheets. However, with the advancement of technology, there are now various software solutions available for bookkeeping, … Read more

Common Accounting Mistakes Tradies Make

by

Accounting mistakes are common among small business owners, particularly tradies, who can become overwhelmed with the complexity of the financial side of their business. A financial review by a professional accounting firm can often help tradies identify and fix these common accounting mistakes before it’s too late.  In this blog post, we will discuss the … Read more