“Every year we see small businesses run into avoidable issues because they haven’t kept accurate records, reported all their income or managed their cashflow effectively” Angela Allen, ATO Assistant Commissioner The Australian Taxation Office (ATO) is encouraging Aussie small businesses to stay compliant. By doing so, you avoid the problems, penalties and fines that can […]
17
Mar
Mar
We all know that positive cashflow is the beating heart of any successful business. And with so many external pressures on your cash right now, it’s important to have one eye on the future. Cashflow forecasting is an increasingly important tool for any finance team. With a better view of your future cashflow position, you […]
10
Mar
Mar
In a business environment that’s currently highly volatile and changeable, it pays to scenario-plan for different eventualities. What is scenario planning? Scenario planning is the process of using your existing business data to project and forecast the future path of your finances, sales and growth as a small business. By running various scenarios, you get […]
03
Mar
Mar
The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash equivalents) within a specific time period. For each of the reporting categories, receipts and payments are listed (money in and money out), and this is reported as a net increase or decrease […]
26
Feb
Feb
As a business owner, it’s never been more important to have a good grasp on your finances. For many businesses, priorities have changed, customer behaviours have mutated and revenue streams have had to evolve and pivot in order to maintain a profitable business model. To track, monitor and drive your financial performance in this updated […]
19
Feb
Feb
Is your cashflow position keeping you awake at night? Don’t worry, we have five simple tips to improve your cashflow management and achieve a positive cash position. 1. Give your accounts receivable a boost Invoice your client as soon as the job is completed, or consider invoicing in instalments once key milestones are reached. Also, […]
12
Feb
Feb
The average business owner needs an additional four hours in their working day to complete their admin, according to research by OnePoll. If your people are spending 20 hours per week wading through tedious and unproductive admin, that’s bad for the business and for your efficiency. Fortunately, technology and software automation can go a long […]
05
Feb
Feb
“63% of Australian businesses say they are losing money – some even reporting estimated losses of over $10,000 per month on average – to late payments. ”Pursuing Payments 2025 report, GoCardless This recent report from the bank payment provider, GoCardless, shows just how challenging late payments can be for Australian small businesses. “68% of all […]
29
Jan
Jan
Have you ever wondered about the best ways to protect you and your business? In this article, we’ll look at how you can use a trust to shelter your assets. What is a trust? Before we go any further, let’s explain exactly what a trust is and how they can be used. A trust is […]
22
Jan
Jan
Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to […]