xero

Where Has the Money Gone?

Understanding Why Your Business Might Feel Broke Even When It Looks Busy It’s one of the most common questions business owners ask themselves: “If I’m working so hard, why isn’t there more money in the bank?” You’ve got work coming in, your team’s working full tilt, revenue looks okay – but cash is tight, profitability […]

Stop the Leak: How Small Financial Inefficiencies Are Costing You Big

Imagine this. You’ve got a bucket under a tap, filling steadily. You’re not worried – water’s flowing in, the bucket seems fine. But what you don’t realise is that there’s a tiny crack in the base. Not enough to notice at first. Just a slow drip. One drop here, another there. You don’t panic. The […]

From Numbers to Narrative: Using Your Financial Reports to Make Better Business Decisions This Year

Do you ever look at your financial reports and think, “Cool, but what does it actually mean?” You’re not alone! Many business owners receive a bunch of financial reports from their bookkeeper or accountant – Profit & Loss, Balance Sheet, Cash Flow – and file them away without a second glance. But when you understand […]

Superannuation Payments: Cut-Off Planning for EOFY 2025

As the end of the financial year approaches, it’s important to start thinking about your superannuation obligations – especially if you’re hoping to claim a tax deduction for those contributions this year. Timing Matters for Super Payments To ensure your Super Guarantee (SG) contributions are deductible for the 2024–25 financial year, they need to be […]

Minimum Wages Set to Rise: What Business Owners Need to Know

Minimum wages are set to rise with the Fair Work Commission handing down its Annual Wage Review decision for 2024–2025 – announcing a 3.5% increase to the National Minimum Wage and minimum award wages. This change will come into effect from the first full pay period on or after 1 July 2025. If you’re a […]

What Small Business Employers Need to Know About Pay Day Super – And How to Prepare Now

If you’re a small business owner and employing staff, there’s a big change coming your way – and it’s called Pay Day Super. While it’s not scheduled to be mandatory until 1 July 2026, forward-thinking businesses (like our clients) are already preparing – and in some cases, already using it. So, what is Pay Day […]

Tired of chasing payments? Handy tips for Managing Receivables

Running a small business is a constant juggle, and one of the more frustrating tasks is managing receivables. How often have you found yourself waiting on overdue invoices, wondering if you’ll have enough cash flow to cover next month’s or even next week’s expenses? If this sounds familiar, you’re not alone. Many small business owners […]

How Santa Manages His Cash Flow: Lessons for Your Business

Christmas is a magical time, and no one knows how to manage the season better than Santa Claus himself. With a global operation, a team of elves, and a tight deadline, Santa runs one of the most complex “businesses” in the world. But how does he keep it all together – especially financially? This year, […]

Reduce Financial Stress Over the Holidays with People and Tech

The holiday season is a joyful time for many, but for business owners, it can also be a source of significant financial stress. Balancing reduced income with ongoing expenses like wages, rent, and supplier payments can be challenging, especially during a Christmas shutdown. However, with the right blend of technology and teamwork, you can minimise […]

Eradicating Financial Stress Through Cash Flow Clarity

Cash flow is the lifeline of any business, and maintaining a healthy flow of funds is crucial for sustainable growth. At Blackwood Bookkeeping, we understand that managing cash flow effectively goes beyond keeping track of numbers – it directly impacts the well-being of business owners. Let’s dive into why cash flow matters and how we […]

Doubling Down on Purpose: Key Takeaways from Xero Roadshow

I recently had the opportunity to attend this year’s Xero Roadshow, and the theme that stood out was “Doubling Down on Purpose.” This year, it was all about how we can leverage technology to articulate our value to clients more effectively while reconnecting with the core reasons we chose this profession in the first place. […]

The importance of bookkeeping

As a business owner, you’ll need to stay informed about your finances and your financial situation. You do this through bookkeeping. Bookkeeping is the process of recording transactions in your business. This includes any transactions, credit card charges and any other financial activity that happens within your company. How good bookkeeping helps you Bookkeeping is […]

Construction project management tools

If you’re a contractor, it can be challenging to manage a hectic schedule and complex projects, all while ensuring your paperwork, documents, and contracts are in order; which is where good construction project management tools come into play. It’s important to keep a paper trail of your work and practice due diligence. Keeping all your […]

Navigating Cash Flow in Small Businesses

In the world of small business, positive cash flow is king. It’s the driving force that keeps your business engine running smoothly. But what happens when more money is going out than coming in? Cash flow problems can threaten the survival and growth of your business. Here’s some things you can do to ensure you […]

Turning Numbers into Financial Insights

Any successful business owner will tell you that the backbone of a thriving business is its ability to understand and use its financial insights wisely. However, the raw numbers on your Balance Sheet or Profit and Loss statement are just the starting point. The key is to turn those numbers into actionable insights that improve […]

Balancing Your Books and Family Time This Easter

Growing your business often means long hours and what seem like endless responsibilities. When family holidays like Easter roll around, stepping away to create memories with loved ones may seem like a luxury you can’t afford. But what if I told you that good financial management and systems might just be the hidden egg you […]

Essential Guide to Financial Resilience

Understanding financial stress As a business owner, financial stress may be familiar. The cash flow that is the lifeline of your business can sometimes feel like a rollercoaster, full of unexpected turns and stomach churning drops. How can small business owners ride this economic rollercoaster? Here’s our top tips on building your business resilience while […]

Unlocking the Balance Sheet: Your Path to Financial Clarity

Are you ready to take your business to the next level? Do you want to unlock the secrets hidden within your financials and pave the way for growth and profitability? If so, you’re in the right place! Welcome to our upcoming webinar on Unlocking the Balance Sheet. In this transformative session, we will delve into […]