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Simple Cashflow Forecasting. Success in today’s business climate sometimes requires you to push aside your passion for your business and spend time sorting out your finances – not a pleasant thought!
But did you realise that a major part of managing your finances can be taken care of using one very simple tool – a cashflow forecast. This report can be done annually and will help you see whether your anticipated income will be able to cover your projected expenses. It will also help you: realise and understand when cash is availableplan and prepare for expansion, stock control and taxesanalyse and anticipate key expenses Software packages can be purchased to help you generate a report. Step 1 – Create a cashflow forecast Using a spreadsheet, create a table with appropriate headings.
Head up the first column ‘Cash Movement’ and across the top of the table enter the months of the year as the next column headings, like this: Then insert a heading ‘Expenses’ and itemise each expense under that heading. The benefits. Xero: Making those debtor chasing processes easy! Xero has released a new and much anticipated feature which allows you to send invoice reminders to clients on an automatic basis.
Below we show you the simple steps involved... This allows you to set up a reminder which is sent to clients when an invoice becomes a certain amount of time overdue without you even having to think about it. There are also ways to turn off invoice reminders for certain customers or invoices, as well as excluding invoices that are under a certain amount.
The process is simple: Select the Email customers when an invoice is... check box.By the clock icon, click Invoice reminders off to access the invoice reminders area in Invoice Settings.Click the Awaiting Payment panel to access the Awaiting Payment invoices tab.From the Accounts menu, click Sales. Brain Teaser - Answers! Answers to all brain teasers from our November newsletter!
The Silly Season. The silly season is back upon us with us all about to enjoy the odd Christmas Party or 3.
In order to ensure you stay on side of the ATO and Fringe Benefits Tax (FBT) here are some tips for minimising unwelcome tax bills come tax time. Offsite Christmas functions for your team members will be able to access the Minor Benefits Exemption when it comes to FBT that would otherwise be payable by the employer. The minor benefit exemption will apply where and covers: The cost per employee being less than $300 per head in total for the functionThe exemption and minor benefit exemption will also apply to spouses and partners of employees attending the event.If you spend more than $300 per head at the function the entire cost of the event will be subject to FBT.In addition to offsite functions for your team some businesses will also provide gifts as additional goodwill gesture for Christmas. Debt Collection. It goes without saying that a business needs cash flow to keep operating.
If too many customers forget, delay or refuse to pay, your business could end up in serious trouble! Debt collection is an aspect of cash flow management where a lot of businesses underperform. However, it doesn’t have to be difficult. If you have the right person for the job and develop a workable protocol, the process of debt collection can be made easier and it will have a positive effect on your cash flow. Employing the right person Admittedly, the term ‘debt collector’ has a negative connotation. Psychology of Inbound Marketing: Basics of Cognitive Dissonance. Discover how using psychology can change the way you think about marketing.
Learn about how cognitive dissonance affects buyer decision-making. As inbound marketers, it is important to remember that we’re all human. Everyone running a brand or company is human, and those we market to are equally human with their own thoughts, desires, and expectations. Psychology is the scientific means for us to understand the mental processes and behavior of human beings, making it a great complement to marketing. After all, understanding your target demographic’s goals and pain points is essential to a great inbound marketing strategy. Interestingly, one of the most useful psychological concepts that can aid you in consistently predicting your audience’s behavior is all about inconsistency: Cognitive Dissonance Theory. What is Cognitive Dissonance? Cognitive Dissonance Theory was developed by American social psychologist Leon Festinger. People strive for internal consistency.
Attracting the Right People. PAYG Withholding Variations. Virtual Management Accountant. A valuable service to the entrepreneur, we apply our extensive knowledge and experience to increase business value.
We focus on key financial, operational and personnel strategies. Inbound Marketing: Reaching Out by Reeling Them In. Lead generation has changed.
Ask any online marketing specialist—what might have worked as recently as five years ago won’t work very well for an audience that has an ever-dwindling attention span, and even less patience for intrusive, in-your-face methods. The bottom line that we at StraightArrow understands is: When people are online, they are looking for something. They are probably looking for an answer to a problem, or how to solve it. This is also probably why everyone seems to hate popup ads—it gets in the way of finding what they need.
They simply don’t have time to deal with the direct, product-centered advertising that has been the norm for years. Popups, intrusive ads, email blasts, cold calling—all of these things (which fall under the generous umbrella of “Outbound Marketing”) are more likely to drive leads away, as opposed to the new method of lead generation that is currently changing how things are done online: inbound marketing. The Difference Between Inbound and Outbound. Top Accounting & Business Advisory Firm.