The 6 tools businesses need to get their finances in shape  

  Good financial management doesn’t happen by accident.  It requires organization and systemization, but it doesn’t need to be too complicated.  Here are some simple tools to help you get organized.    Accounting software With accessibility of cloud-based systems that are linked to bank accounts, it’s easier than ever to keep track of all your financial

Quick Guide to ‘Work In Progress’ and its Impact on Cash Flow

When you’re in a service business Work In Progress Days (WIP Days) is a vital number to be in control of.  WIP Days is the number of days, on average, that jobs are in progress prior to invoicing. One way of calculating this measurement is as follows: Days WIP = Total Current WIP/Direct Costs x

Why Every Business Needs A ‘Game Plan’ to Survive & Thrive

Looking for information on business planning? In today’s fast paced environment of change and innovation a ‘Game Plan’ is a tool to guide your business from its current situation to a relevant and successful future. There’s lots of talk about ‘Digital Disruption’ in many industries. How you leverage it, rather than being a victim of

Timing is Everything

Asking yourself ‘How do I know if my business is insolvent?’ The right advice and the right action at the right time can make a world of difference to the success of a business. All businesses experience ups and downs. Knowing whether to persevere through the storm or to cut your losses and exit before

Setting up a team in another country to optimise your local team

The definition of insanity is to keep doing the same things, the same way, and to expect different results. Is your business truly optimised? Ask yourself these three questions: 1. How much time, do I, my team or my clients spend on tasks that “create cost rather than generate revenue?” 2. Could I reduce current

14 reasons to consider Cloud Software

What do I need to know about cloud software?… 14 REASONS TO CONSIDER CLOUD SOFTWARE If you’ve been thinking of moving your accounts into the cloud here’s some really good reason to consider it. 1. No server requirements – reduced hardware and maintenance costs. 2. Access anywhere in the world that has internet: even when

How To Tune Up Your Accounting System For Better Performance Next Year

Like to know how to improve Xero operation? Accounting systems are often the last thing business owners want to focus attention on. GST and tax compliance are often the main objectives. This thinking is a massive lost opportunity! A little thought at the start of a new financial year, can reap big benefits in terms

Is Sharing Accounts Data Directly With Your Bank A Good Idea?

Like to know whether sharing accounts data with banks is a good idea? The Australian Financial Review online today carries a story about ‘Two Way Data Sharing’ between Cloud Based Accounting systems like Xero and banks. NAB is participating when a customer gives permission for Xero to share the data. This innovation, whilst creating efficiencies

How Crowdfunding can help you raise capital

Banks can be very unsympathetic if you have a great business idea or opportunity … but need working capital to make it a reality. They will of course be more interested, if you have some property to act as security against the loan, but that may not be practical for several reasons. You may not

Are you spreading yourself too thinly?

Looking for time saving tips for business owners? Speak to any SME/SMB owner and they will tell you there aren’t enough hours in the day and the ‘To Do’ list never gets any shorter. The question is ‘How to manage the daunting task of managing all aspects of the business?’   Trying to ‘keep all