As we’re about to turn the page on another financial year, many business owners are breathing a sigh of relief. The deadlines have been met, the reports submitted, and the shoebox of receipts (hopefully) emptied.
But before you shift focus to the next big thing in your business, there’s a golden window of opportunity that’s easy to overlook: cash flow planning at the start of the financial year.
At Blackwood Bookkeeping Solutions, we believe this is one of the most powerful things you can do to set the pace for a successful year.
Why Now Is the Perfect Time for Cash Flow Planning
The new financial year offers a clean slate. You’ve got the full year ahead – 12 months of sales, expenses, and growth decisions waiting to happen. Taking the time now to map out a clear cash flow plan gives you:
- Clarity on where your money is going and when.
- Confidence to make strategic hires, purchase equipment, or expand your services.
- Control over the financial direction of your business, rather than reacting to cash shortfalls.
It’s not about predicting the future perfectly – it’s about creating visibility so you can respond proactively.
Common Cash Flow Mistakes We See
Let’s face it – cash flow forecasting doesn’t always top the list of exciting business tasks. But skipping it can cost you. Some common traps we help clients avoid include:
- Relying on bank balance alone instead of understanding upcoming obligations.
- Forgetting to budget for tax – BAS, super, and income tax can sneak up quickly.
- Delaying invoicing or following up late payments, putting pressure on your working capital.
- Making big decisions without data, leading to cash shortfalls at crunch time.
How to Create a Rolling Cash Flow Plan
You don’t need to build a complex spreadsheet (although we love those if you do!). Most of our clients benefit from a simple, rolling 6-12 month forecast that includes:
- Expected income (based on recurring revenue, sales goals, or pipeline).
- Fixed and variable expenses (including wages, subscriptions, and seasonal costs).
- Tax obligations scheduled in advance.
- Scenarios for best-case and worst-case situations.
If you’re using Xero, we can help you tap into existing tools or build a customised solution that suits your business model.
Want to Know Where You Really Stand?
A great first step is taking our Small Business Financial Health Check. It only takes a few minutes and will help you assess key areas like cash management, profitability, and compliance – so you know what to prioritise this year.
Ready to Take Control?
We work with business owners who are ready to stop guessing and start making confident decisions with their numbers. If you’re ready to start your cash flow planning with intention and finally feel on top of your finances, we’re here to help.
Book a discovery call with Sarah and let’s talk about how we can support you with a tailored, strategic approach to your business bookkeeping this year.
Book a discovery call with Sarah
Take the First Step Towards Financial Clarity and Confidence
We’re here to help you streamline your financial operations and eradicate financial stress in two simple ways:
- Stay Updated and Inspired
Join our LinkedIn newsletter, Eradicating Financial Stress, for regular insights, tips, and updates to keep your business thriving. Subscribe here. - Get Personalised Support
Book a private session with Sarah for a deep dive into your Xero file. Together, we’ll uncover opportunities to optimise your cash flow, boost efficiency, and fuel your business growth. Book a session here.
Let’s work together to simplify your finances and elevate your business!
