Understanding the impact of Cost of Sales (CoS)
Cost of Sales (CoS), also known as Cost of Goods Sold (COGS), is a critical financial metric that plays a key role in assessing your operating costs and the profitability of your business model. But what does ‘Cost of Sales’ refer to, and why is it so important to your financial performance? What is Cost […]
Business tips – Learning to make good business decisions
Making sound business decisions requires access to accurate, timely information – and that’s why strong financial reporting is essential. Modern cloud accounting platforms provide straightforward tools for generating key reports and tracking critical metrics. This reporting offers real-time insights that support more confident, data-driven decisions. However, financial data is only part of the picture. It […]
Do you need to improve the cash flow position for your business?
Effective financial management is critical to the success of any business, but it’s not always straightforward. A business may show a profit on paper yet struggle with day-to-day cash flow. Equally, a business may have strong cash flow while operating at a loss—particularly during rapid growth phases. Profitability and positive cash flow are both essential. […]
If I’m working ON my business what should I be doing?
You’ve probably heard the saying that you need to work ‘on’ your business, not just ‘in’ it. But have you ever considered exactly what that means in practice? To clarify, here’s a simple distinction between working ‘on’ your business and working ‘in’ it. With that understanding, here are five essential activities you should be focusing […]
Reducing the uncertainty: strategic business reviews
In an environment where shifting political landscapes and ongoing economic volatility are constants, establishing certainty in your business strategy is increasingly rare. Traditional, static business plans are no longer fit for purpose. Instead, businesses must adopt an agile approach—regularly reviewing strategy and operations to remain resilient and responsive. Below are five key areas where regular […]
Accounting basics: the profit and loss and balance sheet reports
Understanding your business finances is crucial to effective management, yet navigating company accounts can be challenging for many entrepreneurs. Whether you’re new to accounting or seeking to broaden your knowledge, we can help simplify the core financial reports. Two fundamental statements to understand are the Profit and Loss (P&L) Statement and the Balance Sheet. These […]
How to use forecasts and scenario-planning
Historically, accounting has focused on looking backwards – reporting on what has already occurred. While historical reporting is essential, it only tells part of the story. If you’re relying solely on past performance to make decisions, you’re limiting your ability to plan ahead, assess risk, and take advantage of emerging opportunities. Forecasting provides a forward-looking […]
Business credit: how a business credit card helps your startup
In the early stages of establishing a start-up, access to credit can be a critical component of your financial toolkit. Cashflow is often constrained, revenue streams may be inconsistent, and obtaining traditional bank loans or external investment can be challenging. In such circumstances, applying for a business credit card may seem counterintuitive, given it adds […]
NSW Budget 2025: the impact for your small business
The 2025–26 New South Wales State Budget was handed down on 24 June by NSW Treasurer, The Hon Daniel Mookhey MLC. The Budget outlines a range of initiatives that will have implications for businesses operating across New South Wales. While the Budget includes broader economic measures related to cost-of-living relief, infrastructure and education investment, it […]
Energy Bill Relief Fund: How do you claim relief?
In March 2025, the Federal Government announced an extension to the Energy Bill Relief Fund, aimed at easing cost-of-living pressures for Australian households and supporting approximately one million small businesses. An additional $1.8 billion has been allocated to the program, with rebates taking effect from 1 July 2025 and continuing through to the end of […]