End of Financial Year – Are you ready or not?

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!

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4 Ways to Keep Your Accountant Happy

It’s always a good idea to maintain healthy relationships with everyone you do business with. As someone who plays an important role in your finances, your accountant is definitely no exception. Luckily there are four really simple things you can start doing now that will help keep your accountant in high spirits, your professional relationship smooth and allow your accountant to do their best work for your small business. Keep Your Books Regularly Far too many small business owners neglect to [...]

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5 ways your small business can start the new year well

The promise of New Year promises new opportunities, changes, excitement and of course the chance to make resolutions. This time of year is also the perfect opportunity to reflect on the progress your small business has made in the last 12 months and plan for the next 12. Here are some ideas to help you plan for and get the best start to 2016. Follow the money Give your business every opportunity to thrive and grow by getting a handle on where [...]

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5 easy tips to spring clean your small business

It’s the first week of spring, so as the warmer weather sets in its time to give your business a spring clean. Here are five tips to help you revitalise and refresh your small business. Get on Top of your Bookkeeping Spring clean the way you think about bookkeeping in your small business. Small business owners struggle and stress every day about getting this done. One of the main reasons they avoid the books is because they feel intimidated by their [...]

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5 back-to-school tips for small business owners

The fresh feeling of heading back to school after a break inspires and motivates students. Often small business owners and customers have that initial motivation too, but over time it wears off. Not only do you need to remain enthusiastic and focused, but your customers need to be reminded why they chose to do business with you in the first place. You can learn a lot from the back to school season, so here are some school inspired tips for [...]

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Managing receivables-goods and services provided to customers on credit

Australian small businesses are in a cycle of unhealthy cash flow with 62% of accounts being settled late and firms taking on average a shocking 54 days to pay bills according to the latest Trades Payments Analysis by Dunn & Bradstreet. The report also reveals that 28% of business executives view outstanding accounts-receivable as their biggest barrier to growth. How do small businesses get their customers to pay on time, break the cycle and improve cash flow? We recently spoke [...]

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Is Your Business At Risk?

The ATO’s new Data Matching Programs are likely to match over 500 million business transactions this financial year! Data-matching means comparing the same information from two different sources and this process has expanded rapidly in recent years. While many small business owners may be aware of the Tax Office’s data-matching activities, technology is changing the landscape of the ATO’s compliance capabilities. The new computer system the ATO has invested in can reveal irregularities and unusual transactions very easily. Consequently, the Tax Office [...]

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The Beginner’s Cheat Sheet to Small Business Taxes

It you are starting up your own business, you need to get a grasp on your tax terms pronto!  Here are some terms you will have heard thrown around: GST: Goods and Services Tax And with GST comes your BAS:Business Activity Statement. PAYG: Pay as you Go withholding and installments Let’s break it down… GST (Goods and Services Tax) GST is a tax which is based on the transactions made within a business, sales and purchases. There are some sales and purchases that may [...]

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Fringe benefits tax – what small business owners need to know

As a small business owner, you need a good understanding of which taxes apply to you right from the start. One tax that can be incredibly confusing for business owners with employees is fringe benefits tax (FBT). Let’s have a look at what FBT is, how you can prepare for it and what upcoming changes to the tax may affect your business. A fringe benefit is a benefit that an employee or their associate (spouse or child) receives because of [...]

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