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 customers pay cash and instead of you taking that money, […]

[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 cash flow for each relative service should you be tracking?