Accounting

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.

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

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

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

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

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

One of the major challenges of growing a small business is driving profitability. Balancing the future and immediate needs of the business is tricky. While the need to invest in the former is important, meeting short to mid-term financial goals is paramount too. Fortunately, there are time tested and proven approaches small businesses can apply.

As any small business owner knows, correctly invoicing clients can be a little trickier than it sounds. As well as quoting accurate figures, you need to make sure that effective lines of communication are established and strong professional relationships are maintained. If you’re wondering how this can be achieved, we’ve put together some helpful hints

The main challenge of running a small business is striking the perfect balance between expenses and revenue. When the latter consistently out-strips the former, higher profitability becomes a reality. But it isn’t a walk in the park. Perhaps the reasons below can drive you towards making it happen.

1 in 2 businesses reported issues with cash flow in 2018. Poor cash flow is a major cause of concern for SMEs, and many in the sector have gone under because of this. While financial assistance is widely available for businesses facing this challenge, it doesn’t necessarily prevent its recurrence. This post discusses other things