You’ve got your business, employees and cash flow all set up and are wondering where your next sale is coming from and how to get more customers. This is a question that many small business owners have asked at one point or another. Sales are essential to every business and without sales, you can be certain that you will fail. In order for your business to be successful, you have to find what works for generating sales and boosts [...]
The final findings and recommendations by Commissioner Hayne were released to the public on Monday 4th February. We have sifted through the 76 recommendations and drawn out those which will impact SMEs and those in the agricultural industry specifically. SMEs The definition of small business This will be simplified so that an additional 10,000 to 20,000 additional SMEs in Australia will be governed by the Banking Code. This will offer better protection for these businesses when dealing with their banks. Credit assessment process There [...]
It is no secret that the way you manage staff in a small business has a significant influence on their productivity, performance and job satisfaction. As a business owner, you may need to adopt effective management techniques to get the best out of your employees and increase cash flow. Your staff management style will determine how motivated your employees are to participate in and contribute positively to the workplace and treat it as if it were their own. Sometimes managing [...]
Average overhead costs for a small business More than half of Australia’s small businesses reported a bigger growth than the past several years, according to a recent CPA Australia report. However, keeping the doors of your business open takes a lot more than passion and a stomach for risks. Business owners have a lot of things to consider when running a business, including the costs. With invoices, income statements and other expenses to consider, it is no surprise that many small [...]
Every business, no matter how big or complex, must follow certain steps in order to be successful. One of the key steps in growing your small or micro business involves managing cash flow by tracking and improving your finances. Cash flow refers to the incoming (profit) and outgoing (expenses) movement of cash that keeps your business running the way you want it. If you own a small business, using simple bookkeeping software is key and is a reliable way [...]
As a freelancer – or being self-employed – one of your biggest problems is probably getting people to pay you, and pay you on time as well. You can be the best at your job and deliver amazing projects but invoicing is still a massive issue in a lot of industries. There’s an alarming statistic going around that over 70% of freelancers have trouble getting their invoices paid. We have to stress, it’s not your fault. There are a lot [...]
The key to a successful year-end is to be prepared and organised. If you’ve been using Cashflow Manager this financial year, you’ll find the process quick and simple. Follow these seven steps and have a happy new financial year. Click here to download our free EOFY Guide!
Single Touch Payroll (STP) is almost here and Cashflow Manager is working with the ATO to make sure that you are ready to go when it becomes mandatory for businesses with 20 or more employees on 1 July 2018. Cashflow Manager Gold and Wages Manager will be compliant at this date and will deliver an easy-to-use solution to make this change as simple as possible for you. What is Single Touch Payoll? Single Touch Payroll is a new simpler way to report [...]
Since the introduction of SuperStream in Australia, the Small Business Superannuation Clearing House (SBSCH) has provided small businesses and sole traders with an easy option to make SuperStream compliant contributions. On 26 February 2018, the SBSCH will join existing Australian Tax Office (ATO) services. This means that once you have finished updating your bookkeeping for the period in Cashflow Manager you will only have to visit one place to share your information with the ATO. You will be able [...]
Cash is vital for small businesses – to pay their staff, to purchase stock, meet their tax obligations and explore new opportunities. A lot of our small business clients experience cash flow troubles due to their accounts being settled late. We all know that one of the most awkward and uncomfortable situations in business is having to chase up late payments on a bill or invoice. To avoid having to deal with unnecessary conflict, here are 6 tips to get [...]
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