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New financial year's resolutions for better business

Coming up to 30 June, it's good to stop and think about where you’re headed, where you want to be, and how to get there. Brush of your old business plan, review your finances and update some strategies. Consider ways to improve efficiencies and come up with new ways of doing things. Get help with something that's holding you back, so you can make a fresh start.

As accountants who automate processes with cloud technology, our approach is future-focused around advice and puts business owners back in control. We don't waste time and money on repetitive bookkeeping tasks and manual data entry. Lodging tax returns and BAS on time is a breeze. Ask us how we can help you to evolve or reinvent your business processes and start seeing into the future.

WE CAN:

✔️ Lodge any overdue BAS and Business Tax Returns ASAP.

✔️ Negotiate payment arrangements with the ATO. 

✔️ Help you manage your cash flow for BAS and minimise tax.

✔️ Set up your cloud accounting *properly* with bookkeeping automations, tracking categories and digitised document fetching & filing to save you so much time.

✔️ Start Single Touch Payroll for 1 July and make sure your workers' payments are being correctly reported.

✔️ Configure cash flow forecasting, budgets and more so you can measure and identify ways to improve performance.

✔️ Help you maintain clean accounting data to see what is happening on a daily basis and make projections.

✔️Meet with you quarterly to keep your business on track.

Spreadsheets and desktop software are so last century. Why waste time on outmoded bookkeeping tasks when you could be looking into the future instead?

As a small business owner, you need to ensure that your accounting system tells a correct story about your business. So it should be set up by an expert.

Then each month/quarter you can see how these vital metrics explain what's really going on in your  business:

📏How much cash is available

📏Cash flow projections including projected turnover

📏Revenue growth - set goals and compete with yourself

📏Net and gross profit margins

📏Break even point

📏Debtors – money owed to your business

📏Creditors – money your business owes to others, mainly suppliers

📏Your current GST, PAYG and Super liabilities

📏Income tax liabilities for current and future years

📏Equity ratio – seeing whether your equity is building and where your money went

Innovation is the key to your business’ competitive advantage. It simply means coming up with new ways of doing things, and it goes hand-in-hand with reviewing your business plan. In your business, innovation happens when you're creating more effective processes, improving services or coming up with new products. 

Business.gov.au outlines some of the practical steps you can take towards becoming more innovative. 

Your accountant can measure the results and guide you.

Please contact us now by message or email for an initial complimentary 15 minute call about your business. Confidentiality guaranteed (we abide by a strict professional code of ethics).

NOTE: FROM JULY WE'RE NOT AVAILABLE FOR MOST LATE TAX RETURNS. We hope to hear from you very soon if you need our help to make a fresh start!

Contact us for more information.



 

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