Common questions asked by business owners

DO I HAVE ENOUGH CASH TO PAY THE STAFF BONUSES?

Cash flow forecasting is an important tool to manage your business ensuring you can stay afloat in the short to medium term. The preparation of weekly/monthly cash flow forecasts provide a business owner with visibility on their ability to cover day-to-day expenditure and/or whether they can expand their business.

ARE WE MAKING A PROFIT FOR THIS FINANCIAL YEAR? HOW DO WE COMPARE WITH LAST YEAR?

The preparations of monthly management accounts and financial statements provide crucial information regarding business performance and relevant trends in key performance indicators.

IS MY CURRENT PROJECTS PROFITABLE?

Keeping track of project revenue and costs, comparing the actuals to budget, provide important information on the profitability by project. This is critical to evaluate the projects to which resources are allocated and to assist with developing optimal pricing models for future projects/bids.

I NEED A BUSINESS LOAN, AND THE BANK IS ASKING FOR FINANCIAL INFORMATION.

Accurate financial statements, managements accounts and forecasts are key documents to secure funding for future expansion. We prepare all accounts to be fully compliant to the latest financial reporting standards and specialise in the preparation of budget and forecasting models.

HOW MUCH SALES DO I NEED PER MONTH TO BE ABLE TO PAY MY FIXED EXPENSES?

Accurate financial models play a key part in understanding your business drivers and how they impact the financial outcomes. We develop budgeting and forecasting models to support the owner and provide them with a detailed view on the impact and outcome of their revenue and expense drivers.

I AM LAUNCHING A NEW PRODUCT, WHAT WILL THE OPTIMAL/MINIMUM/MAXIMUM PRICE BE FOR THAT NEW PRODUCT?

Detailed pricing models are critical to support pricing decisions that each and every business needs to make. This will ensure the business owner understand the risks, outcomes and optionality of their decisions.

I AM USING A DESKTOP ACCOUNTING PACKAGE AND WOULD LIKE TO CONVERT TO XERO BUT NOT SURE HOW TO CONVERT?

No need to be stuck with a desktop solution when accounting in the cloud is available. It is easy, mobile and always accessible no matter where you are. We can facilitate a smooth transition from any accounting system to Xero

AM I COMPLIANT WITH THE ATO REQUIREMENTS FOR PAYROLL, SUPERANNUATION ATO SINGLE TOUCH PAY?

We use the latest ATO compliant payroll software to give any business owner peace of mind that their payroll is fully compliant.

I DO NOT HAVE TIME TO LODGE MY BAS RETURNS.

We can take care of all your accounting needs and the lodgement of BAS returns, allowing you as business owner to focus on other key activities that will improve your profitability.