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your daily cash flow routine
2011 - 11 - 16
The importance of proper credit and cash flow management cannot be overstated. Simon Allsop shares insights on how business owners can position their business to be at its most efficient and successful.
strength training for sme's and advisors
2011 - 11 - 26
Proper credit and cash flow management is of the utmost importance. Here's how business owners can position their business to be at its most efficient and successful.
2011 - 09 - 23
Australian businesses of all sizes are taking a longer time than ever to pay their bills according to Dun & Bradstreet's recent Trade Payment Analysis. Two-thirds of businesses took longer than the standard 30 day period to pay company accounts; many paying trade accounts up to 90 days late.
don't get stuck on auto pilot
2011 - 09 - 23
It's easy for small businesses to get stuck on autopilot - the motto can too easily become: "We do it this way because we've always done it this way." It can seem hard to justify change when everyone is fighting fires in other areas. But change is inevitable.
reducing debt
2011-08-24
With stocks tumbling and an uncertain government tax environment ahead, everyone is trying to increase the bottom line. One way to do this is to look at ways of reducing your business debt.
tips for managing part timers
2011-08-24
Part-timers are a growing part of the workforce - making up more than 29% of workers according to a Government Productivity Commission report in 2006. Using part-timers and freelancers to fill in gaps is a great way to reduce labour costs, according to Simon Allsop, Managing Director of myaccounts.
cloud accounting services
2011-07-18
In recent months, cloud accounting services have improved dramatically. They are proving a smart choice for small businesses because they are budget friendly, make reconciliations and reporting a breeze and can be accessed from anywhere - from laptops, smart phones and iPads.
how budgets can save small businesses
2011-07-18
The new financial year is a great time to turn a fresh page and build a budget to help you track your business. Simon Allsop, Managing Director of myaccounts says that although "budget" may not be the most exciting word, a good budget can have exciting consequences for business.
simple steps to maximise your tax return
2011-06-20
There's still time to arrange your business to get the best from your tax return and avoid penalties. Simon Allsop, Managing Director of myaccounts, explains.
how myaccounts succeeded in just two years
2011-06-20
Last month, myaccounts had the honour of placing among the top 100 fastest-growing small businesses of the year in Business Review Weekly's Fast Starters list.
how a shareholder agreement sets you up for success
2011-04-27
If you're running a company or partnership and you haven't created an official shareholder agreement document, signed by all partners or directors, you're missing an important opportunity to set your business up for success.
cloud services that could help your business
2011-04-27
Cloud computing makes complex services much more affordable, secure and mobile and it is therefore of particular use to small and startup businesses. Although accessing services from "the cloud" has its risks, it is almost certainly the way of the future.
how cloud computing is helping businesses
2011-03-28
The term "cloud computing" seems to be everywhere at the moment. Simon Allsop, Managing Director of myaccounts says the new buzzword describes an evolution in IT that has been going on for some time now.
How invoice finance can solve your cash flow issues
2011-03-28
Invoice finance (otherwise known as receivables finance) is one of Australia's fastest growing finance areas according to Greg Woszczalski, Executive Director of 180 Corporate, speaking at the recent Australian Accountants and Lawyers Conference in Aspen. It can be an excellent solution if your business is suffering from cash flow issues.
Cash flow is a major problem for companies contracted to slow payers such as big business and government groups, who slow down even more in harder times. To survive such periods, SME's need to find alternative sources of income to keep their cash flowing.
The myth that most SME's fail in their first year
2011-02-28
Most small businesses do not fail in their first year according to new evidence gathered by Veda Advantage. The reality is that most SME's who fail run into trouble in their median growth period, a stage the agency has labeled "corporate adolescence."
The study found that few businesses fail because of bankruptcy or liquidation. They tend to close because the business owner finds the challenges of a growing business - managing staff and more complex tax and cash flow issues - all too overwhelming.
new $5000 tax break for SME's
2011-02-28
The Australian Federal Government has announced that SME's with a company structure will be able to write off assets worth up to $5,000 in the year of purchase from 1 July 2012. They will also be able to depreciate all other assets (besides buildings) in a single pool at the rate of 30%.
Currently small items worth less than $1,000 can be immediately written off, and others allocated to one of two depreciation pools of either 30% or 5% rate depending on the life of the asset.
the nine essentials for starting a new business
2011-01-17
If you're thinking of starting a new business, now is a great time to take advantage of the extra advice and support being offered by government and other organisations. The following tips will help you get your business off to the right start.
managing staff turnover
2011-01-17
With the GFC easing and hiring freezes slowly lifting, you may find some of your employees are being actively courted by other businesses! Staff turnover has a significant impact on your company's bottom line - according to AHRI's latest HR Pulse survey, turnover costs Australian businesses a total of $20 billion per annum.
Some of the tell-tale signs that a staff member may be thinking of leaving include changes in behaviour such as no longer attending work functions or volunteering for projects, arriving late, going home early and taking short periods of leave,
So how do you prevent staff turnover?
managing your annual leave liability
2010-12-15
How many of your staff are stockpiling their annual leave? Having a large annual leave liability leads to more than just an increase in sick and stress leave claims. It's also a financial liability for your business.
is your christmas party creating a tax debt?
2010-12-15
A company Christmas party is a great way to thank staff for their help throughout the year. But it is important to understand that parties and gifts may have FBT (Fringe Benefits Tax) implications for your business.
building a good relationship with your bank
2010-18-11
Even though banks are the "bad guys" in the media at the moment, you should still expect your bank to provide the same standard of business as any firm with which you deal. Taking the time to ensure a good relationship with your bank will make your business operations and your financial situation easier to manage. The following ideas will help.
why small business confidence matters
2010-11-18
If the economy is to continue to improve, small business investment is one key area that must pick up. Because confidence is a key factor in driving people to invest, all businesses will be keeping an eye on small business confidence over the next few months. This confidence will flow from consumer confidence in the pre Christmas period.
how BAS can help monitor your business
2010-10-21
It's natural to feel that lodging your BAS return every quarter is hard work. But your BAS return is also a wonderful opportunity to see how your business is performing. Because as we said last month - "what gets measured, gets managed."
hiring staff - the payment rules you need to know
2010-10-21
When you employ anyone, whether as a contractor or as a permanent or casual employee, you have a specific set of commonwealth tax and superannuation obligations that you must adhere to. Here is a brief overview:
buying a new car ?
what does 1% mean to your business ?
2010-07-16
At 99 degrees water is merely hot, at 100 degrees it turns to steam and can move locomotives. Just 1% makes all the difference.
