Running a business, no matter how busy you are, does not give you the right to “mis-place” your manners. Common courtesy and respect seem to be not so common these days with the busy entrepreneur expecting, or perhaps it could even be classed as demanding, answers at the drop of a hat (and usually for free). So lets rewind a little bit and get old school for a minute. Do… Read more
There is so much choice when it comes to accounting software. So how do you choose the right one? How do you choose the accounting system for your business – the one you really need. So not the one everyone tells you that you need – but the accounting system which is the right fit for YOUR business? We face this question with every new client we see. Not to… Read more
Coming up to 8 years ago I was faced with a health scare – 6 weeks pregnant (first time mum – I should have been so excited), I had developed a 20 cm blood clot in my lower leg, I was in agony, I had a job I loved – and I was told I was unable to reduce my hours to part time, as my condition didn’t warrant it.… Read more
We see posts all the time asking “How do I choose an accountant?” or even worse “My accountant is ripping me off, who can you recommend?”. I can’t stress enough that any service provider, whether it is an accountant or anyone else, needs to be offering you value. What you need to firstly understand is that there are various types of accountants. If you are looking to get a tax… Read more
I know when you start a business finances are tight and every cent is watched like a hawk but if I had a dollar for every time I heard a startup say “I couldn’t afford an accountant so I just googled the answer…but I think I have stuffed it up…can you fix it” – well let’s just say I wouldn’t be sitting here at 9:05pm writing this blog post from… Read more
I know you are not an accountant, I know numbers are not your thing, I know tax invoices are not the most exciting topic, but sending out invalid invoices says a lot about your business – and it is not all good news. “I know I shouldn’t judge, but I hustle just as hard as the next entrepreneur, I work 60+ hours per week, have two kids, pay my taxes,… Read more
Well the festive season is in full swing – this means parties, gifts, eggnog, mistletoe, Santa and normally family feuds. But the thing causing the most stress at Christmas, is the level of credit card debt people put themselves in, which hangs over their heads for many months to come. Australians spent over $47 billion in the Christmas spending period between November 15th and December 24 (2015 statistics) according to Inside… Read more
As most of us in the startup phase of our entrepreneurship journey would know, getting cash to fund our dream is not an easy (or quick) task. There are many “No’s” before you hear the magical “Yes”. Or will you even hear the “Yes” at all? Your dream idea is only loved by a third party finance option, if it can see that the idea has the ability to generate… Read more
Every single week I see people bitch and moan about the prices accountants charge, that they are too expensive, that the individual (or business owner) is not getting value, that people don’t understand what the accountant actually does, or even worse – that accountants just push buttons that you can do yourself so really are not worth their time. Now let me reverse this just for a minute. How would… Read more
Calling all business owners, entrepreneurs, solopreneurs, mumpreneurs, dadpreneurs – or any other fancy titles that are out there at the moment – the sooner you realise that profit is not the same as cash – the sooner you will start to plan for a fabulous financial future. You see here is the thing – I speak to business owners all the time who simply get frustrated (*insert swear words here… Read more
Cash Flow is the major cause 56% of small businesses don’t survive past their 5th birthday. It is time to turn the tables on that horrific statistic and be in charge of your cash flow (with confidence) and remove the stigma and fear around asking for your invoices to be paid. The first thing to consider is that cash flow is not just chasing debtors. Cash flow is understanding – when… Read more
Not all accountants are the same. We don’t all want to do the same things, we are not all extroverts (surprise surprise), and we don’t all love big accounting conferences and sitting down with people that we don’t know (even if they are in the same industry). Some of us even have a life outside the accounting space, and love, (dare I say it), AFL. So, yes, while I am going… Read more
Dear Random Stranger (who doesn’t want to pay for my services) Thanks for you phone call tonight at 5:55pm (on a Friday) and asking me if I have 5 minutes for…. “just a really simple GST question”. Whilst I appreciate that you think your question may only take five minutes of my time, the reason it takes five minutes of my time is because I have a lot of skills… Read more
EOFY Payroll is easy right – I mean your accounting software does it for you so what have you got to worry about? A few clicks of a button and payment summaries are issued to staff. Done, feet up and champagne cracked open. But wait…. “If you don’t understand payroll and accounting terminology chances are your payroll is incorrect – FACT.” I know what you are thinking….my accounting data file… Read more
The 2016 Budget creates hype, excitement and a mad rush of spending…..but first lets make sure the rules actually apply to you. Last night the treasurer delivered his 2016 Budget and naturally, economists, accountants, business owners and politicians are all in a tizz (me included). But first things first, let’s break it down and take a look at the important announcements and how they may (notice I say may) relate… Read more
Earlier this week I got into a bit of a “bun fight” within a Facebook group as I tried to show people how their contradictions about outsourcing effects small business in Australia. Sadly it was clear I was in a minority – but that doesn’t mean I will change my views. Sadly I also think people will learn the hard way – costing them time and stress. Yes, the age… Read more
You don’t want a rogue accountant on your team…you want someone you can trust – with knowledge, experience and a lot of credible advice and care. Here is something I wrote which was published on Smart Company earlier this month…no Rogue Accountants at Healthy Business Finances. For original article, click here. Many small business owners and entrepreneurs understand the benefits of leveraging outsourcing to scale their business. Smart business owners… Read more
When you work in a service based industry, part of your life becomes focused on what you have quoted for a job and what it actually costs you. Well, let me rephrase that – it should be focused on that. Fixed prices, monthly packages, paid upfront, deposits collected or a combination of all of these – if you are not accurately looking at and recording costs per job, you business could… Read more
Those who know me, know that I love my footy. I grew up in the country and watching football on tv on a weekend was a family pass time. Today is a sad day in AFL – and one that has a huge impact on Essendon (and its supporters) not only today but for years to come. THIRTY four past and present Essendon players have been found guilty of doping… Read more
As a business owner – you have an obligation – part of that obligation is understanding what your numbers tell you. You need to understand cash flow to pay your suppliers and the ATO. Ignorance is not an excuse. I know what you are thinking….it is that harsh Stacey again throwing around her comments about numbers and ATO – blah blah blah. Well yes – it is me. As soon… Read more