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Member Spotlight

Tony Cosentino, The WordPress Guy

Tony Cosentino, The WordPress Guy

Tony Cosentino builds WordPress websites, trains businesses how to manage a WordPress site and provides long term fanatical support for WordPress s... Read more

Bob Owen, Classic Diecast

Bob Owen, Classic Diecast

Bob Owen from Classic Diecast maintains an online business and information portal selling premium Dinky Brand diecast collectable models to collec... Read more

Tom Evison, Enigma Technologies

Tom Evison, Enigma Technologies

Enigma Technologies provides IT implementation, support and deployment to a wide range of clients, from home users to multi nationals. Read more

Monika Mundell, Copywriter

Monika Mundell, Copywriter

Monika Mundell, along with her husband John, provides a comprehensive suite of sizzling copywriting services to entrepreneurs, Internet marketers, ... Read more

Donna Garrett-Young, Home Building Made Easy

Donna Garrett-Young, Home Building Made Easy

Donna Garrett-Young has been a passionate renovator and builder for nearly 20 years, and is the author of the book 'Home Building Made Easy - Five ... Read more

Sandy Naidu, OzKidsActivities Pty Ltd

Sandy Naidu, OzKidsActivities Pty Ltd

OzKidsActivities is an online directory for kids activities, classes, entertainment, events and birthday party venues. Read more

Maria Lesar, H.A.P.S. Business Solutions

Maria Lesar, H.A.P.S. Business Solutions

Maria is an experienced bookkeeper organising small businesses. She assists clients with setting up their new business ensuring they have applied ... Read more

Lisa Abejja, Little Pip by AmbeRocks

Lisa Abejja, Little Pip by AmbeRocks

Little Pip by AmbeRocks sells natural, earth friendly, sustainable products for mums and babies. In this chemical-based world, our little ones face... Read more

Banika Smee, Witjuti

Banika Smee, Witjuti

Witjuti has a range of bamboo clothing designed for yoga, travel, maternity or just lounging around. Read more

Jan Freitag, Proxim Group

Jan Freitag, Proxim Group

Combining both business coaching and business consulting services, the Proxim Group offers a fully comprehensive approach to helping small business... Read more

Tom Mewing, Aussie

Tom Mewing, Aussie

Tom Mewing assists people in purchasing their dream home by finding them the best home loan. Read more

Sarah Jenkins, SignaturePhoto Photography Courses

Sarah Jenkins, SignaturePhoto Photography Courses

Sarah Jenkins teaches half-day and 1-day photography courses in Sydney to beginners who have just bought their first DSLR camera as well as more in... Read more

Gabriel Dukes, Shelcom Corporate Services

Gabriel Dukes, Shelcom Corporate Services

Shelcom Corporate Services help make the government registration process of starting up a company simple, fast and faultless for new business owners. Read more

Lidia Scotto di Vetta, Sweet Pins

Lidia Scotto di Vetta, Sweet Pins

Sweet Pins sells hosiery from some of the best brands around the world to women who still take pleasure in wearing gorgeous stockings or want to co... Read more

Bob Jones, an SEO Company

Bob Jones, an SEO Company

'an SEO Company' provides authentic SEO services for small businesses in Australia. Read more

Trish Fehon, OnlineInfluence.com.au

Trish Fehon, OnlineInfluence.com.au

Trish Fehon specialises in creating business websites for small to medium sized businesses that bring in fresh leads, new customers and make money. Read more

Mark Rubiolo, Bubbling With Energy Entertainment

Mark Rubiolo, Bubbling With Energy Entertainment

Bubbling With Energy provides entertainment and amusements for corporate events and private parties including jumping castles, mechanical bulls, su... Read more

Alex Levashov, Altima Interactive

Alex Levashov, Altima Interactive

Altima Interactive provides web business consulting, web design and web development to help people grow their business online. Read more

Karen Churchill, The Churchill Consultancy

Karen Churchill, The Churchill Consultancy

Karen Churchill helps her clients achieve their goals by communicating as well as possible with the people who matter to them. This can be done by ... Read more

Paula Durrant, Durrant’s Accounting Services Pty Ltd

Paula Durrant, Durrant’s Accounting Services Pty Ltd

Paula Durrant is a tax accountant for small to medium businesses, and high income individuals. Read more

Tony Cosentino, The WordPress Guy
Bob Owen, Classic Diecast
Tom Evison, Enigma Technologies
Monika Mundell, Copywriter
Donna Garrett-Young, Home Building Made Easy
Sandy Naidu, OzKidsActivities Pty Ltd
Maria Lesar, H.A.P.S. Business Solutions
Lisa Abejja, Little Pip by AmbeRocks
Banika Smee, Witjuti
Jan Freitag, Proxim Group
Tom Mewing, Aussie
Sarah Jenkins, SignaturePhoto Photography Courses
Gabriel Dukes, Shelcom Corporate Services
Lidia Scotto di Vetta, Sweet Pins
Bob Jones, an SEO Company
Trish Fehon, OnlineInfluence.com.au
Mark Rubiolo, Bubbling With Energy Entertainment
Alex Levashov, Altima Interactive
Karen Churchill, The Churchill Consultancy
Paula Durrant, Durrant’s Accounting Services Pty Ltd

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HomeFinanceFinancial management

Finance | Financial management

Your small business’ handling of money management can make or break your success.

This section includes a wealth of tips for better money management covering topics including business invoicing, small business record keeping, understanding business insurance and accounts payable. And for when things don’t go according to plan we also look at recovering money.

Need help calculating your hourly rate? Try this hourly rate calculator.

Knowing when to change your business structure

09 Feb 12 | Karl Veitch

Having the right structure for your business is fundamental to both its initial success and its ability to grow, remain flexible, be tax-effective, protect assets, and minimise your costs. Read more

Comments: 0

Creating a credit policy

27 Jan 12 | Colin Porter

Every time you provide goods or services before you receive payment, you’re extending credit to another party. Having a credit policy in place will help make sure you get paid. Read more

Comments: 0

Profitability and cash flow checklist

19 Jan 12 | Brad Callaughan

Profitability and cash flow are everything in business. What can you do to improve yours? This handy checklist is sure to give you some areas to think about. Read more

Comments: 3

What to do when the money dries up

14 Jan 12 | Joanne Prior

What steps do you take when your bank balance is shockingly low? Here’s how to survive a situation whereby not only do you come out of it in one piece, but you come out of it on top. Read more

Comments: 1

When customers don’t pay: going to court

07 Dec 11 | Colin Porter

When all other strategies fail to get a debtor to pay up, you may need to take the dispute to court. Here’s what you need to know about going to court. Read more

Comments: 3

How to prepare a cash flow forecast

03 Dec 11 | Brad Callaughan

Business owners tend to focus on the bottom line: the profit we are going to make. But a business can have $100,000 in profit AND an overdrawn bank account. Why? Because of poorly managed cash flow and no cash flow forecast. Read more

Comments: 3

A guide to business activity statements (BAS)

11 Nov 11 | Michael Quinn

For most soloists, business activity statements (BASs) are a fact of life. Here’s what you need to know about them. Read more

Comments: 0

When customers don’t pay: issuing a letter of demand

02 Nov 11 | Colin Porter

Issuing a letter of demand is the first step in initiating legal action when a customer hasn’t paid, and can sometimes motivate them to open their wallets. Read more

Comments: 2

Tips to improve profitability for soloists

14 Oct 11 | Sue Hirst

There’s no point being in business if you’re not making money and keeping some of it for yourself. Could any of the following ideas improve profitability or cash flow for your business? Read more

Comments: 0

When customers don't pay: alternative dispute resolution

30 Sep 11 | Colin Porter

Don't throw your hands up in frustration when your debtors don't pay. Take action. One option available is alternative dispute resolution. Read more

Comments: 11

Bookkeeping tips: Get your bookkeeping organised

22 Sep 11 | Monique Bock

Keeping proper tax records means you’ll save on accounting bills and be able to claim the maximum deductions. These bookkeeping tips will help get you organised! Read more

Comments: 4

Are your credit terms enforceable?

01 Sep 11 | Colin Porter

The issue of getting paid has always been troublesome for micro businesses. Here's a checklist to help you develop your credit terms. Read more

Comments: 3

An introduction to foreign currency transactions

22 Jul 11 | Heather Smith

If you import or export, you need to understand how currency fluctuations affect your profitability. Here’s a beginner’s guide and glossary of key foreign currency transactions terms. Read more

Comments: 8

Planning for retirement

01 Jul 11 | Michael Quinn

Good planning for retirement now could make your retirement years smooth sailing – but you need to make sure that your plans take your unique circumstances and goals into account. Read more

Comments: 2

Improve cash flow cycle by retraining your debtors

30 Jun 11 | Colin Porter

A good cash flow cycle is one in which the period between paying your expenses and getting paid by your debtors is as short as possible. Here are some strategies to tighten yours up. Read more

Comments: 1

Getting the best from your bookkeeper

17 Jun 11 | Rhys Roberts

Bookkeeping is one of the most routinely outsourced business functions, but it’s critical that you retain overall control. Here’s what you need to know. Read more

Comments: 6

Is your small business accounting software holding you back?

11 Mar 11 | Rhys Roberts

Using the wrong small business accounting software can reduce the efficiency of your business, increase your operating costs and make controlling your operations more difficult. Read more

Comments: 17

Need to increase cashflow? Look inside your business

22 Nov 10 | Rhys Roberts

When you run a small business, you need to know where your money is at all times, not least when times are tough and credit dries up. Here are eight simple lessons to increase cashflow in your business. Read more

Comments: 10

Getting started with DIY bookkeeping

19 Nov 10 | Heather Smith

Bookkeeping is a vital part of running a business, but can also be overwhelming, especially if you’ve never done it before. These DIY bookkeeping tips will point you in the right direction. Read more

Comments: 4

Debt collection strategies: before it gets nasty!

08 Oct 10 | Heather Smith

For small business owners, debt collection can be an evil necessity; it’s something many of us would really rather not do, but must if we want our businesses to survive. Here are some helpful debt collection strategies. Read more

Comments: 11

Knowing your financial position

01 Oct 10 | Rhondalynn Korolak

If you think financial ignorance is bliss, you’d better be prepared to be blissfully broke. Knowing your financial position is very important. Read more

Comments: 6

Find an accountant that is right for you

27 Aug 10 | Heather Smith

Working with a good tax accountant can be critical to the success of your business. So how do you find an accountant that is right for you? Read more

Comments: 12

Expense management: Minimise expenditure and maximise cash flow

16 Jul 10 | Heather Smith

Minimising expenditure is a critical component of business survival and cash flow. Follow these practical expense management guidelines to help keep your business expenses under control. Read more

Comments: 7

Choosing accounting software

27 Apr 10 | Heather Smith

Choosing accounting software for your business can be difficult. Consider these important questions when you’re investigating your options. Read more

Comments: 14

Energising your profit and loss statements

25 Feb 10 | Heather Smith

Thoughtfully set-up profit and loss statements generate meaningful data that can inform your business decisions. Here’s how to de-clutter yours and make it more user-friendly. Read more

Comments: 8

Ten questions to ask when hiring a bookkeeper

14 Jan 10 | Heather Smith

If you’re sick of dealing with the shoebox full of receipts it could be time you considered hiring a bookkeeper. Here are ten questions to ask before you do. Read more

Comments: 20

Seven simple ways to improve cash flow

19 Nov 09 | Ingrid Louise

Are you one of the many business owners whose numbers look good yet you never have enough cash to cover your wage, supplier invoices or BAS? Here are some simple ways to improve cash flow. Read more

Comments: 11

Ten ways to reduce your accounting fees

31 Mar 09 | Heather Smith

Professional Accountants can be critical to the ongoing success of your business. They can provide advice on company structure, financial management and legal tax avoidance. But their fees can be exorbitant! Read more

Comments: 25

Dealing with non-paying clients

17 Mar 09 | Trish Weston

I recently had my first non-paying client as a soloist. And, if I may share, it hurt. As someone who likes to go on about the importance of building great client relationships, this really stung. Read more

Comments: 34

Preparing your accounts for a business loan

15 Feb 09 | Sue Hirst

Gone are the days when the last couple of tax returns would suffice to get a business loan. The banks, spooked by the credit crunch, now require precise information before lending you money. So what sort of shape are your business accounts in? Read more

Comments: 2

How to grow your business without borrowing

02 Nov 08 | Sue Hirst

Those who’ve attempted to get new lending or renew an existing loan will know how hard it is right now, so how do you grow your business without borrowing? Read more

Comments: 13

Money management tips to survive the downturn

28 Sep 08 | Sue Hirst

If you can keep your cool while economic mayhem abounds, you could set up your business for not just survival, but for greater profit and cashflow when things improve. Here are some money management tips to thrive and survive in the downturn. Read more

Comments: 5

20 money saving tips

11 Sep 08 | Heather Smith

Welcome to money savers anonymous. Hi! I am Heather Smith and I love to save money. I like to find a bargain, but what excites me even more than money saving is when I get something for free. Read more

Comments: 27

FAQs on small business budgeting

24 Aug 08 | Sue Hirst

A budget is a guide to financial performance of the business and a way to quickly identify overspending and potentially loss making situations. Here are answers to the most common questions asked about small business budgeting. Read more

Comments: 1

Tips for managing invoices

03 Jul 08 | Megan Tough

Over the years I’ve trialled different ways of managing the paper flow in my own office. I’ve found managing invoices to be something that needs extra care. Read more

Comments: 4

Solving cash-flow problems

01 Jun 08 | Sue Hirst

An age-old question accountants get asked by business clients is “How come I’ve made a profit but I don’t have any cash?”. Solving cash-flow problems is an issue for many businesses. Read more

Comments: 7

Business invoicing: How to create an invoice

20 Mar 08 | Heather Smith

After years of working in Management Accounts, the same invoicing errors keep cropping up. So I'd encourage you to print out a copy of your business invoice and discover whether you’re guilty of delaying your own cash flow! Read more

Comments: 19

Business cost management: Stop leaking money

10 Mar 08 | Peter Crocker

Although you may not think business cost managment is the most exciting topic, it is something you need to consider if you want to make sure your business is not leaking money! Read more

Comments: 21

Five ways to make the most of your Accounts Payable

04 Dec 07 | Sue Hirst

Accounts Payable may seem like a dull subject but when handled properly it can provide many opportunities to improve your cashflow and profit. This article discusses how to use your Accounts Payable to your advantage. Read more

Comments: 7

Money management: Tips for solo businesses

13 Nov 07 | Robert Gerrish

Recently I wrote a piece that generated quite a discussion. It was about a soloist who was uncomfortable with money. Here's a summary of your excellent money management tips. Read more

Comments: 3

Recovering money: How to speed up payment from customers

04 Nov 07 | Sue Hirst

In my last article I discussed ways to improve business invoicing and steps to avoid bad debts. In this article I'll discuss recovering money and ways to speed up payment after the invoice has been sent out to your customer. Read more

Comments: 14

Money management skills: A question of money

15 Oct 07 | Robert Gerrish

Oh, no it’s happened again. I’ve just finished a conversation about money management skills with yet another person who’s allowed money to wreak havoc. Read more

Comments: 79

Business invoicing: Steps to avoid bad debts

02 Oct 07 | Sue Hirst

How well you handle business invoicing can make or break your business. There are a number of different methods, so let’s look at some of the key factors in running a successful accounts receivable process in a typical small business. Read more

Comments: 8

Small business record keeping: Dealing with the shoebox

25 Sep 07 | Heather Smith

As an accountant, at this time of year people start arriving at my door with a shoe box stuffed full of receipts. Some of you may be chuckling in disbelief while others are blushing with recognition of their own small business record keeping! Read more

Comments: 28

Understanding insurance and protecting your business

11 Sep 07 | Sean Morriss

Working from home gives us freedom that is hard to find in an office environment. It’s easy though to forget about the importance of understanding insurance and ignore the possible consequences of a stolen laptop or an injury sustained while at work. Read more

Comments: 11

How profitable businesses can go bust

30 Aug 07 | Sue Hirst

How can a business making plenty of sales possibly go bust, you may wonder? The answer is cash. Your cash can be in a surprising number of places other than where it belongs - in your account. Read more

Comments: 12

Trusts and business asset protection: the basics

07 Feb 06 | Tony Melvin

What is a trust? How can a trust help protect your personal and business assets? As for business asset protection, is it something you need to know about? Here are the answers, delivered in a straightforward manner. Read more

Comments: 7

 

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