What’s new in Xero (February 2025)
Xero has introduced several enhancements in the first two months of the year. Key updates include: Enhancements to New Invoicing Automated Bill Entry Users can now upload bills directly into Xero and create multiple bills simultaneously by dragging and dropping files. Xero will automatically generate draft bills with key details extracted from the documents, which […]
More tax relief for drinks companies: how will it improve your excise refund?
Australian businesses involved in brewing, distilling, and wine production are set to benefit from enhanced tax relief, providing a reduction in their tax liabilities. Excise Remission Cap and Wine Equalisation Tax (WET) Rebate Increases Currently, brewing and distilling businesses can claim a full refund of excise duty paid, up to a limit of $350,000 per […]
Reducing the uncertainty: key ways your accountant can assist
For business leaders, the ability to anticipate future developments is invaluable. However, the current economic climate is characterised by volatility, making it increasingly difficult to predict market conditions and formulate long-term strategies with confidence. While external economic, political, and regulatory uncertainties cannot be controlled, they can be effectively managed. Market fluctuations, cost variability, and shifting […]
Keeping your cashflow strong in tough times
Small businesses are particularly vulnerable during periods of economic hardship. When sales are slow, the ongoing financial obligations, such as overheads and payroll, remain pressing. Effective pre-planning and a proactive approach are key to navigating economic downturns and ensuring continued success. It is essential to have a comprehensive understanding of your payroll commitments, as well […]
Which Xero app is right for your business?
As a Xero user, you are likely familiar with the extensive range of applications available to enhance your cloud-based accounting experience. However, are you aware of the most widely used applications among Australian small businesses? There may be valuable tools within the Xero ecosystem that you have yet to explore. To assist you, we have […]
From Spreadsheet to System: Why It’s Time to Break Up with Excel
Spreadsheets have long been a trusted tool for small businesses—familiar, reliable, and readily available for performing essential calculations. While they may have been instrumental in establishing your business, continued reliance on spreadsheets could now be impeding your ability to scale effectively. It may be time to transition from makeshift digital solutions to a fully integrated […]
Making your business work for you: the big goal
As a business owner, you invest considerable time and effort in ensuring the efficient operation of your company. However, is your business delivering the financial security and personal fulfilment you originally intended? A Business That Works for You When you first established your business, you likely had clear objectives regarding how it would provide for […]
Getting help with your small business debt
Managing rising debt while facing cash flow challenges can be a serious concern for any business owner. The financial strain, uncertainty, and pressure can feel overwhelming. However, there are steps you can take to regain control and work towards financial stability. To address your financial difficulties effectively, it is essential to identify the underlying cause: […]
How to optimise your business: get proactive with your finances
Maintaining control over your finances is critical to keeping your business on course. But are you doing all you can to optimise your financial management practices? Let us explore how to achieve greater control over your financial position. Timely and Accurate Financial Data at Your Fingertips A primary reason for the failure of many start-ups […]
Business tips: Using forecasting to help your decision-making
Producing regular management reports is a critical step in enhancing the quality of business decision-making. However, historical financial data alone offers limited foresight. In today’s dynamic business environment, it is essential to look beyond the past and focus on the future. Leveraging forecasting tools enables businesses to project data forward, offering a clearer perspective on […]