Managing overhead costs for small business

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 [...]

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How to write an invoice that people actually want to pay

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 [...]

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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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Reporting Simpler BAS in Cashflow Manager Version 11

The Australian Tax Office (ATO) have simplified GST reporting for small business by reducing the amount of GST information required in Business Activity Statements (BAS). From the 1st of July 2017, small businesses will be automatically transferred to Simpler BAS. There are no changes to the reporting frequency or how other taxes are reported on your BAS. With Simpler BAS you only need to report the following GST information: G1 Total Sales 1A GST on Sales 1B GST on Purchases How does this work in [...]

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Simpler BAS Reporting is not far away…

In our recent blog “ATO announces simpler BAS reporting for Small Business” we discussed how the ATO’s introduction on 1 July 2017, of simplified BAS would make it considerably easier for small business to manage their returns. Basically, the reporting requirement for BAS has been simplified so that businesses only have to report the following GST information: GST on sales (1A) GST on purchases (1B) Total sales (G1) While the deadline for commencing with the new Simpler BAS reports is 1 July 2017, which [...]

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4 Ways to Avoid Small Business Payroll Mistakes

Payroll can be a daunting task for any small business owner, with deadlines to meet, leave payments to make, superannuation to pay and many other things you need to consider. Furthermore, taxes relating to payroll can be complicated and the penalties for any errors can be high. With the right information, software and proper planning you can avoid some of the common issues others run into. Staff will be paid accurately and on time, payroll records will be up [...]

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4 Ways Your Small Business Can Work Smarter

Most small business owners start out with a tight budget, trying to do everything themselves, and working 16 hour days. This is often not the most productive way for you to be operating nor does it make the best use of your entrepreneurial skills. This is why it is important to work smarter in your business by prioritising your tasks, delegating where possible, using the right technology and considering outsourcing. Prioritise  Think about which tasks only you can do. These could [...]

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Cashflow Manager Cloud Accounting Software is Here!!

At midnight on Australia Day, we launched our brand new Aussie cloud accounting software, Cashflow Manager Cloud. This is the latest addition to the Cashflow Manager stable of products and is not a replacement for our existing desktop solution. It is an all new bookkeeping suite designed to enhance our range of offerings so that our valued clients have more choice as to how they do their bookkeeping. Whilst we are taking advantage of the flexibility that new technology offers, [...]

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Creating a Cash Flow Budget for your Small Business

At the start of a new year it is always a good idea to put together a cash flow budget for your small business especially if you do not have one for the financial year. A cash flow budget helps you see what cash your business will have available to meet expenses by recording the cash you expect to receive and pay out over a chosen period of time. A cash flow budget is actually one of the most important [...]

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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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