Seeking outside funding for your business is a big step. Whether you’re looking to start a new business or expand an existing one, it makes sense to feel a little nervous. But if you combine your passion for your business with detailed financials and meticulous planning, there’s nothing to be afraid of. Have a plan, […]
What’s Involved in Setting Up a Self Managed Super Fund?
What is a Self Managed Super Fund (SMSF) and how do you go about setting one up? The general consensus is that there are less fees and you have greater control on how your money is invested and so by taking control of your Superannuation YOU can make more money and retire on a larger […]
Setting Sales Targets
Setting sales targets for your business is standard practice for any aspirational, growing company. If you’re going to stretch the sales and marketing teams, it’s important to have clear, unambiguous targets for them to aim for. But what happens when a crisis looms? In uncertain times it’s more than likely that your pre-crisis sales targets […]
Top Tips for Building a Strong Company Culture
Like it or not, all companies have a culture. While it might be easy to define culture in nice words, it can be much harder to grab hold of in daily business, especially when times get tough. A strong company culture is a driving force, underpinning a successful, resilient team. It shouldn’t be ignored, especially […]
Protecting Business Relationships in a Time of Crisis
Strong relationships with clients, customers, suppliers and staff are a key part of business success. But in a crisis, it’s easy to focus on your own issues and neglect those important connections. Here’s how to stay connected during difficult times – because you won’t get through without strong relationships and ongoing support. Communication and contact […]
Are We a Cost or an Investment?
As accountants, we’re always helping our clients find ways to reduce their overhead costs – one of the seven ways to grow your business. Did you know that your accounting fees are an overhead cost? Should you be cutting this cost? Or do you view us as an investment? Expenses are a necessary evil; we […]
How to Create a Cash Flow Forecast for Your Business
A cash flow forecast is an important tool for business planning. And right now, understanding the cash coming in and going out of your business is vital. A cash flow forecast will show you how long your business can continue to survive on current sales levels, by showing you how much money you’ll have in […]
Five Steps to Better Cash Flow?
Need a hand managing cash flow? You’re not alone. The key is getting your invoicing right, by invoicing customers as soon as possible and using tools like Xero’s invoice reminders to move payments along. That said, there are a few other simple rules you can apply to manage your cash flow and get your invoices […]
Cash Versus Accrual Accounting Explained
The difference between cash basis and accrual basis accounting comes down to timing. When do you record revenue or expenses? If you do it when you pay or receive money, it’s cash basis accounting. If you do it when you get a bill or raise an invoice, it’s accrual basis accounting. Businesses that use cash […]
