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Covid-19 – Concessions by State governments and Banks

  • On March 24, 2020
This article covers the various concessions and grants initiated by the state governments and some banks in response to the outbreak of Covid-19. Victoria Payroll tax waived: Businesses with annual taxable wages up to $3 million will have their payroll tax for the 2019-20 financial year waived. Eligible businesses must continue to lodge returns but do […]

Stimulus Package: What You Need To Know

  • On March 23, 2020
Over the past six months, Australians has faced devastating natural disasters including drought, fires, floods, and now, the outbreak of coronavirus (COVID-19). Governments, businesses and communities all around the world are facing unprecedented challenges. In the midst of these difficult times and to keep the cash flowing through the economy, the central Government has released […]

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How healthy is your working capital?

  • On March 2, 2020
We all know that cash is king when it comes to business success, but what exactly is ‘working capital’ and how does this financial metric help measure the health of your business? Working capital is made up of the cash and assets that are available in the business to fund your operations and keep you […]

Get in control of cashflow

  • On February 10, 2020
It’s a well-worn phrase, but cashflow really is the lifeblood of your business. When your cash inflows are greater than your cash outflows, that puts you in a positive cashflow position – giving you the liquid cash needed to trade, improve and grow as a business. But if costs start to outstrip your income, that […]

Eight Steps to An Effective Dunning Campaign

  • On February 8, 2020
If you sell to customers on credit, you are probably already using dunning letters. These are simple notes that tell a customer “Hey, you’re overdue. Can you please pay us?” You can send a dunning letter via email or as a paper letter. Sounds simple? Actually, no. To write an effective dunning letter requires great […]

Understanding Your Cash flow Statement

  • On December 7, 2019
The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash equivalents) within a specific time period. For each of the reporting categories, receipts and payments are listed (money in and money out), and this is reported as a net increase or decrease […]

Understanding Your Balance Sheet

  • On December 5, 2019
To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of Cash-flow, these reports provide a complete understanding of […]

Understanding Your Profit and Loss Statement

  • On November 28, 2019
Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be a […]

Holiday cashflow for your small business

  • On November 8, 2019
Whether you’re heading into a holiday period, or just planning to take a break (and congratulations, because a healthy business means work-life balance), it’s important to keep your cash flow under control. This means pre-planning and being proactive. When you’re not in the office, there are still overheads and salaries that need to be sorted. […]

Financial Habits of Healthy Businesses

  • On October 31, 2019
Most young businesses are ambitious and focused on their goal of creating brand awareness and product launches. Often, what they end up neglecting are the business finances, especially if the founders are not business graduates or financial specialists. Startups and new businesses are most prone to run into bankruptcy in their first year. A major […]