After focusing on getting yourself up and running, looking at sales and working on the front end, it’s likely your administration and accounting practices have been left somewhat forgotten. With more customers defaulting on payments, now more than ever is the time to get your business’ accounting practices into shape.
The Australian Taxation Office has more government funding than ever before, intended to help it ensure all taxpayers pay what they’re obliged to. To avoid unwanted attention, an expert is urging all businesses to check the ATO’s benchmarking records, to ensure their percentages are in the acceptable range for their industry.
It’s only logical to want to be paid for the work you complete as quickly as possible, but this just isn’t always the way it happens. Here are four simple strategies to shorten the length of time between completing a job and getting paid.
Customer credit terms are a negotiation not to be to be taken lightly, and a selective procedure is vital for business protection, success and longevity.
When starting a business, capital is thin on the ground. It’s tempting to either cut corners or, on the other hand, to overspend to make a good impression on new customers. Before you get the credit card out, read these expert words of advice.
The budget is the single most important management tool most businesses have. But when the budgeting process drags out, it becomes a painful waste of time. Here’s the case for creating a tight, focused budget process that takes no more than three to four weeks.
A great deal of the literature around credit focuses on helping struggling debtors, so as businesses and creditors we often forget that giving credit where it isn’t due is an early part of the problem. Here’s three credit management best practices every business can follow to protect cashflow.
Cashflow shortages, interest rates hikes and increasing global economic concerns are all threatening the livelihood of local SMBs, a new survey has found.
New PayPal technology is enabling small businesses, service providers and casual sellers to accept credit card and PayPal payments via their smartphone, allowing them to complete transactions and monitor cashflow wherever they like.
The latest industry statistics show high wage costs, a strong dollar and interest rate pressures are causing Australian businesses to turn to debtor finance to ease cashflow problems.
