Latest News from the Queen of Cashflow

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Why “Back-pocketing” Cash takings is Worse for you than the Tax Man

Let's just get straight to the point that the Australian Taxation Office (ATO) will not like you AT ALL if you pocket your cash sales. I'm talking about the scenario where you may receive actual cash money for sales made. Lets play it out; Your … [Read More...]

Take a ‘number crunching’ approach to your business plan

Take a ‘number crunching’ approach to your business plan

How often are you reviewing your business plan and what step should you take when reviewing your business plan? When reviewing your business plan I recommend that you take the ‘number crunching’ approach as your first step. To begin your review, … [Read More...]

[VIDEO] How to make your Profit & Loss Statement Work For You

[VIDEO] How to make your Profit & Loss Statement Work For You

I am often asked by clients what a profit and loss does; what it actually tells you and what it should actually look like. The normal Profit and Loss Statement is basically a record of all your income and all your expenses; for example a normal … [Read More...]

[VIDEO] Tracking costs for products and services – Which ones?

[VIDEO] Tracking costs for products and services – Which ones?

I often get asked by clients if they should be tracking the costs related to their different products and services. My answer to that is definitely. But, exactly what costs should you be tracking to get accurate information relating to profit and … [Read More...]

[VIDEO] Keeping business and personal financial transactions separate

[VIDEO] Keeping business and personal financial transactions separate

Sole Traders often ask me what costs they need to take into account in their business. A sole trader is just the structure of the entity that you're using to run your business through. Whether you're a sole trader, in other words you use your own … [Read More...]

[VIDEO] The Dangers of Drawing on Your Business Profits

[VIDEO] The Dangers of Drawing on Your Business Profits

Many business owners are not necessarily being paid a salary, in other words they're not being paid a salary through the payroll but instead they are drawing profits as and when funds are available. But how does this affect your business and does … [Read More...]

[VIDEO] The Power of Measuring and Tracking Your Business Performance

[VIDEO] The Power of Measuring and Tracking Your Business Performance

I'd like to share with you a challenge that one of my clients experienced and how he was able to overcome that challenge by measuring and tracking his business performance.     The Challenge... He is a specialist pediatrician who … [Read More...]

[VIDEO] The problem with delegating ordering tasks to staff

[VIDEO] The problem with delegating ordering tasks to staff

When I first met with this particular client he had huge cash flow problems in his business. When we sat down and spoke about these issues whilst working on the performance review for his business, we realised that there was a trend. The … [Read More...]