If you are lodging your own PAYG withholding payment summary annual report (PSAR) you need to lodge with the ATO by the 14th August. If you are using our lodgement services, the due date is the 30th September. Make sure you check the following before completing the annual summary: Check your payroll detail reports for […]
Xero’s Short-term Cashflow Feature For Businesses
Business cashflow is simply money coming in and money going out of the business. Your outgoings will include things like rent, payroll, taxes and supplies. Your income will be revenue from sales but might also include investment funds or the sale of assets. For most businesses, income and expenditure don’t always happen at the same […]
Understanding Working Capital To Maintain Business Success
If cashflow is the lifeblood of your business, then working capital is the health check you should regularly undertake to keep your business alive. Regularly checking working capital will play an essential part in maintaining business success during these times of greater economic insecurity. What is working capital? Working capital is your current assets minus […]
Selling Your Business? Make A Plan3
When it’s time to sell your business you’ll want the best price for it. And the sooner you plan for sale the better, so that your business is in the very best shape to attract an investor. The more attractive the business looks in the market, the better the price you’ll achieve, or the better […]
Review Your Expenses – And Save Yourself Money
Running a business will always mean incurring certain expenses, or ‘spend’. There are always costs, overheads and supplier bills that mount up – and these expenses will gradually chip away at your cash position, making it more difficult to grow and make a profit. So, what can you do to reduce your spend levels? And […]
Payroll Updates: Minimum Wage, Award Changes And Parental Leave
Minimum Wage Staggered Increases and Award Changes The national minimum wage increased on 1 July by 1.75% to $19.84 per hour (or $753.80 per week). The minimum wage increase applies to employees on JobKeeper if their pay rate is defined by an award rate or the national minimum wage. This means the amount of JobKeeper […]
Cash Is Not Profit And Vice Versa
The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit only by changing the things that affect revenue and expenses. For […]
Create A One-page Business Plan
To make a success of your business, you’re going to need a robust business plan – particularly as we face challenging times. With a one-page business plan behind you, the company has a real sense of strategic direction and a set of core goals to refer to and track against. But what are the key […]
The Fundamentals Of A Business Budget
A business budget is one of the essential tools in managing your business finances and actively building your business. A budget shows what you plan to do with your cash over the next year. For a complete picture of your business health, you need to review the profit and loss statement, the balance sheet, the […]
