Implementing Accounting Solutions To Ensure Telecom-Billing Accuracy

According to their annual report available on their website, in the last fiscal year-ending, SBC spent over two-and-a-half billion dollars on advertising. Verizon's annual report shows just over two billion.

Many corporations will never see such income amounts in their entire lifetimes, let alone advertising budgets and this begs the question if a telecom carrier can spend a fortune on advertising, why can't they invest a fraction of that amount to ensure accurate billing to their customers? Because of billing inaccuracies, customers are forced to implement their own call accounting solutions.

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Billing errors can be rapidly found and corrected through a real-time web-accessible interface. Calls can be rated against contract usage rates, costs can be allocated to the correct user department, and reporting can be automatically and quickly generated in relation to traffic, fraud, and analysis.

Some companies track telephone call activity generated by any type and any number of PBXs from call record source to assignment of accountability. It analyzes call activity for an entire enterprise from a single web-enabled centralized system. All information is collected in real-time and is immediately available for viewing and reporting essential support for call accounting throughout the enterprise.

Telecom billing errors also place corporations in danger of non-compliance with the Sarbanes-Oxley Act, which requires companies to be fully accurate when reporting operating expenses. So companies, not being able to rely on carrier bills to accurately account for their phone usage, are forced to find cost-effective call accounting software solutions.

Advice On Retirement Savings

At the end of the year fast approaching, it is time to consider the amount that you contribute to a retirement pension. The last federal budget changed "cap contributions" that may affect you.

The ceilings for contributions to super each year, with a surplus of contributions subject to a tax penalty. You can also look for a smsf tax return via https://www.rwkaccountancy.com.au/smsf/.

smsf tax return

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The maximum amounts depend on your age and the quality of the participation. Australia is struggling to finance its aging population, and changes should save the federal government $ 2.81 billion over the next four years.

The changes will affect your retirement plans and means you may need to reconsider your retirement strategy. Under the foregoing, saving for retirement once your mortgage has been paid was considered sufficient.

It is important to review the amount being contributed to your great sources. It is for the individual to keep track of these amounts because neither employer nor the super fund is responsible for the audit of contributions against the new ceilings.

Super contributions fall into two main categories:

Concessional: Contributions for which a tax deduction is claimed.

  • The employers' pension contributions warranty

  • Employee contributions Sacrifice

  • Personal deductible contributions

Non-concessional: Contributions with money on which you have already paid the tax.

  • Personal contributions of after-tax income

  • Spousal contributions