With the end of the financial year around the corner, you’re probably busy planning for the next one given the prevailing economic malaise. However, there will be significant differences in the way you approach it for 2020/21. As a small business, you may have realised the cushion between survival and collapse is very thin. In this post, we’d like to present some tips to help you plan a budget in a crisis.
If you haven’t transferred your bookkeeping to a digital format and enlisted remote help to ensure it’s getting done correctly, now is the perfect time to do so. With many companies effectively closed down due to the pandemic, and others operating on a limited service, it’s an ideal time to be streamlining your operation and cutting waste. Here we discover four reasons why online bookkeeping is likely to increase your profitability:
If your business is struggling right now, know you’re not alone. The Australian government has launched the JobKeeper program to help businesses and employers continue to pay their employees and stay in operation while cash flow is low or even obsolete.
One of the less desirable responsibilities a business owner has is bookkeeping. Although cloud-based accounting is a great help, nothing beats having an effective bookkeeper by your side. Hence, as a business owner, it is imperative you have a productive relationship with your bookkeeper.