Statistics reveal that about half of all small businesses fail within the first 2-5 years. The main cause of business failure is poor financial planning and management. Accurate bookkeeping is essential to know how your business is operating and to be able to make informed decisions which affect the success of your business. Some … Continue reading 7 Bookkeeping Mistakes Business Owners Should Avoid →

Cashflow is still a major issue for a lot of Australian businesses. Did you know that timeframes are being extended on paying invoices to an average of 53 days? This has a huge effect on business cashflow in being able to meet bill obligations, paying employees and keeping the business running. Cashflow is therefore the … Continue reading Are cashflow issues keeping you awake at night? →

Bookkeeping is the foundation for building your Empire.Don’t let your Empire crumble around you prevention in this case is definitely better than cure; Are you using a Bookkeeper who is registered with the Taxation Practitioners Board which allows them to be registered as a BAS agent? Have you asked your Bookkeeper to confirm their Insurance … Continue reading Is Your Bookkeeping Putting Your Business At Risk…? →

Article from http://www.accountingweb.co.uk. The financial health of your customers can have a major impact on your own business finances. Without being secure in the knowledge that customers have access to the credit needed to pay you on time, you leave yourself open to your own credit difficulties. By constant assessment of the financial health of … Continue reading 5 Essential Warning Signs to Impending Customer/Client Debt →

Article by James Thomson, http://www.smartcompany.com.au/tax/050022-tax-shock-when-it-comes-to-tax-record-keeping-the-shoebox-isn-t-dead.html Australia’s SMEs might appear to have embraced the internet age and cloud computing, but it seems that when it comes to tax, at least one very analogue device is crucial. A survey of 1,000 small business people conducted by Galaxy Research for American Express has found a staggering 39% of … Continue reading Tax shock: When it comes to tax record keeping, the shoebox isn’t dead →