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Budgeting for a small business doesn’t need to be complicated, but it is crucial to invest time and resources into making it as accurate as possible. Many small businesses fail to prepare a budget, and without a budget, they run the risk of overspending
A franchise is a contractual arrangement where a franchisor allows a franchisee the right to use its trademark for products and services and business systems and processes to operate the business. The franchisor will provide operating manuals, training, quality control, marketing, and advertising, plus usually selecting a site. As a result, the franchisee benefits from an … Read more
Seven benefits of Cloud Accounting The use of the cloud is becoming more prevalent, with many of us using it daily, for example, Dropbox and Google Drive. The cloud is programs, applications, services, and storage accessed through the internet, rather than running on a desktop computer hard drive. We can access cloud services from web … Read more
Being on top of cash flow can make or break a business. It requires careful planning and regular monitoring. If there is a cash shortfall, a business may not be able to pay its staff or suppliers and run into serious trouble. Properly managing cash flow means a business can meet its debt obligations, and … Read more
Many high-profile startups have experienced success in recent years, such as Canva, Afterpay, 99 designs, and The Iconic. These success stories lead the way, inspiring many more Australians to launch startups, with Australia experiencing some of the fastest growth in startups worldwide. Creating a new business is not easy. “Starting a business is not for … Read more
Cryptocurrency Accounting For a lot of folks out there, the most important thing they want to know about cryptocurrency is, how is it going to make me money? However, for accountants, it’s important to understand how to reliably and consistently treat these new-age digital assets in our books! There are now over 6000 cryptocurrencies on … Read more
Accounting plays a critical role in running a business because it helps you track income and expenses, ensure regulatory compliance, and provide quantitative financial information to investors, managers and government that you can use to make business decisions. Most successful entrepreneurs and business owners who have worked with accountants will tell you that they are … Read more
Long before covid took over our lives and newsfeeds, the astute business owner knew the importance of solid business continuity planning to ensure the company’s ability to overcome any risk. The thing about a BCP is you won’t always need it, but when you do you REALLY need it. An effective BCP can mean … Read more
Robotic Process Automation (RPA) allows anyone to configure computer software by combining artificial intelligence and human interactions within the digital system. Performing daily tasks like calculations, transactions and maintaining records is made easier. RPA can handle daily repeatable tasks that humans would perform, at high volume and in almost half the time. It’s a non-intrusive … Read more
It wasn’t that long ago that managing employees from a central workplace was the traditional way to operate a business. Covid 19 has forced the world to see that not only is remote working efficient and manageable, it comes with practical cost savings and advantages to both staff and employees that will make it hard … Read more