When Treasurer Jim Chalmers handed down the 2024-25 Federal Budget on 14 May 2024, it was clear that the government had a diverse range of objectives. From offering tax cuts to supporting vulnerable groups, the budget is packed with measures aimed at stimulating economic growth and providing relief. Let’s unpack the key points from this […]
Read More… from Unpacking the 2024 Federal Budget: What you need to know
In the world of small businesses, positive cash flow is king. It’s the driving force that keeps your business engine running smoothly, covering all your liabilities. But what happens when outflow exceeds inflow? Cash flow problems ensue, threatening the survival and growth of your business. These cash flow problems can originate from a variety of […]
Many small business owners think they’re saving money by handling their bookkeeping themselves. While it can be beneficial to learn bookkeeping basics, cash flow management and your tax obligations, hiring a bookkeeper to oversee your accounts has many benefits. Leaving your books to a pro will free up time so you can focus on serving […]
As a business owner, managing finances can be a daunting task. Keeping track of expenses, payments, and cash flow can be overwhelming, especially if you’re dealing with debt too. A business loan, line of credit or a business credit card can help your company add to your team, purchase inventory, purchase equipment, and finance growth, […]
When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more team members. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s sucking […]
Read More… from Outsourcing payroll – 5 ways it can help you
For small business owners and payroll managers, staying up-to-date on the latest superannuation changes is essential. And, with the Australian Superannuation Guarantee increase happening from 1st July 2023, it’s important to understand what this means and how it could affect your business. As an employer, this increase, and subsequent increases, will have an impact on […]
Read More… from Superannuation Guarantee Increase – 1 July 2023
Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business […]
The Australian Government unveiled its annual budget this week, which aims to stimulate economic growth, address long-term challenges, and improve social services. The budget is focused on helping with the cost of living, with tax cuts for middle and low-income earners, while also allocating funding to health, education, and small businesses. If you have any […]
When it comes to running a small business, maintaining small business cash flow is essential for sustainability and growth. Your business can be incredibly profitable but still ultimately fail because of improper cash flow management. To prevent that from happening, here are some best practices that can help you better manage your cash flow and […]
Read More… from Unlocking the secrets of small business cash flow
You’ve likely heard the phrase “in the black.” Your balance sheet is the tool that shows you whether your business is indeed “in the black.” Your balance sheet includes a section for your assets (things you own or will receive that have value), your liabilities (what you owe to others) and equity (retained earnings and […]
Read More… from What is a balance sheet and how does it help me manage my finances?
2023 is expensive. The cost of living is higher than ever, interest rates keep rising, and it keeps getting harder to stay afloat, let alone get ahead. As a result, carrying debt has become commonplace. But, with the challenges of the past few years, many of us have more debt than we’re comfortable with. How […]
The holiday season is typically busy. Take this opportunity to show clients how much you appreciate their business. After all, it’s less expensive to retain existing clients than it is to attract new ones. And, while every day is the right day to show your clients you care, the holidays might have more meaning because […]
The end of the year tends to be a bit chaotic for business owners, but it’s actually a good time to get some extra housekeeping done for your business. Read on for some tips to help you finish the year neatly and feel prepared to face the new year. Review your goals and KPIs A […]
There’s a very important deadline coming up on 30th November. The ATO is urging those who haven’t yet applied for their director identification number (Director ID) to do so ASAP. The consequences for neglecting this task are severe. What is a director ID? The director ID is a mandatory 15-digit identification number given to a […]
Read More… from What you need to know about Australia’s director ID rules
Undertaking a payroll system upgrade comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to […]
Read More… from 5 common payroll system upgrade errors to avoid
There are a few different methods of paying your employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage […]
Read More… from The different methods of paying your employees
When you start a small business, it’s usually only you behind the whole operation and you haven’t even thought about outsourcing business tasks. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. […]
Read More… from 5 signs you need to start outsourcing business tasks
Managing payroll effectively could make you the hero in the business. Payroll is one of those things that starts out simple enough. You start your business, build out your team, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is… they grow! […]