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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 […]
How to plan a budget in a crisis Read More »
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
Four reasons why online bookkeeping is good for your bottom line Read More »
A pay rise request can be tricky to handle, and both personal and organisational issues have to be considered in the deliberation process. It can be emotional as well. In this post, we’ll discuss the steps you can take to manage this and incorporate the practice into your payroll management system.
How to handle pay rise requests effectively Read More »
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.
Government financial support during COVID-19 Read More »
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.
How to have a productive relationship with your bookkeeper Read More »
Regardless of the number of employees you have presently, you should have in place an effective payroll system. Aside from rents or leases, machinery and tax obligations, payroll is probably a major expense of small-medium sized businesses. Like all of the aforementioned expenses, ensuring your employees are paid well and promptly contributes directly to the
How to implement an effective payroll system Read More »
If you’ve treated your bookkeeper at arm’s length, it’s time to work with them in partnership. Various financial aids and incentives have been rolled out by the government as well as banks in recent weeks. For many small businesses, these relief packages are lifelines. However, like many small business owners, your days at work have
What to discuss with your bookkeeper in a crisis Read More »
COVID-19 is the biggest threat to small businesses today. Financial assistance from the government provides temporary shelter. But ultimately, survival will depend on the owner’s ability to steer his ship to a safer shore. Keeping a close eye on your books with effective bookkeeping is important. In this post, we share other steps you can
How effective bookkeeping can help you thrive during a slow-down Read More »
It’s common for small business owners to experience difficulty with cash flow. There are always unexpected payments and expenses that are entirely unavoidable, and without relying on credit options, funding these expenses can cripple the business cash flow quickly. Small business budgeting is essential; as small business bookkeepers, we continually stress the importance of active
The unexpected business expenses your small business needs to budget for Read More »
Success can be elusive for small businesses. 1 in 2 small businesses in Australia fails after their 5th year. Given they are the backbone of the economy, this rate of failure creates an uneasy feeling. While some of the problems leading to failure are external, most are internal, for example, poor cash flow management, ineffective
How to be a successful small business Read More »
