The Value of Cash Flow Forecasting During a Crisis

During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels. To be able to navigate the future path of your cash flow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to […]

Working from Home? Claim your home office expenses

If you have a home office for your business, you should be able to claim some of the costs involved in maintaining, owning and using your home. It’s important to be aware of what you can and can’t claim, and the record-keeping involved in making a claim. How does it work? In order to claim, […]

Cash vs Accrual Accounting – It’s All About Timing

What are the two methods? Understanding cash and accrual accounting comes down to timing. In a cash-based accounting system you recognise income and expenses when they happen, that is, when the money arrives into or leaves your bank. In an accrual-based accounting system, income is recognised at the date the customer is invoiced and expenses […]

Report PAYGW Correctly to Claim Tax Deductions

From July 1 2019, If you don’t meet PAYG withholding obligations for your workers, by not withholding tax from their payments and not reporting it to the ATO, you could lose your tax deduction. This will apply to income tax returns lodged for the 2020 financial year and beyond. If you withhold tax from payments […]

Put the Customer At The Centre Of Your Business To Drive Sales

Content provide by Spotlight Reporting A starter’s guide to selling relevantly Advances in technology have impacted the way customers research products and services, and how they shop. Customers have often done their homework and researched all the various options available, and as a result, they think they have all the answers. They will confidently walk […]

How to create a small business budget

As the current financial year draws to a close, as well as thinking about year-end tax planning strategies, now is the best time to think about what you want your business to look like for the next financial year.  Setting a budget isn’t complicated but it can still help to involve an expert. Talk to […]

Getting More from Your Accounting Data… to Generate Sales

Accounting data is full of ‘stories’ and telling these stories can help you improve your business. An example that we see all too often looks something like this: A Business with Top Line Growth Goals… Nothing unusual there. Many businesses want to grow revenue to reward their shareholders or just stay competitive. The amount of […]

The Three Categories of Succession Planning

There are many benefits to being a small business owner such as being your own boss, leading a team and the ability to give back to your community. A well-funded retirement account, though, is not one of these many benefits. Most of us believe that, when the time is right, we will sell our business […]

How Millennials are Redefining the Workplace and How to Engage Them

Millennials, one of the largest generations in US history, certainly get a lot of attention. The word itself has come to symbolize not only a generation of people but the entire modern condition brought on by technology, globalism, interconnectedness, diminishing attention spans and a heightened sense of self-importance. Born between the early 1980’s and the […]