"Our mission is to help our customer's succeed in their business, while supporting them every step of the way"
We are excited to announce that we will be offering training and implementation of MYOB Accounting Software, more on this to come soon.
Read more about MYOB here, they have some good deals for new startups.
Cash is not profit and vice versa
The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow.
Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit only by changing the things that affect revenue and expenses.
For example, if:
Cashflow comes from various sources. However, it also covers operating expenses, taxes, equipment purchases, repayments, distribution, and so on.
Note that a profitable business does not always have good cashflow. And a business with good cashflow is not always profitable. For example, you can have good cashflow, and loss-making expenses.
To work out how fast you can grow your business, you need to look at your projected cashflow. We can advise you on this.
Keeping cash crowned as King
Your business can’t survive without cash.
The following six takeaways are essential for business success:
Looking to improve cashflow? Make a time to talk to us. We are here to help.
Small Business Bookkeeping for beginners
What is bookkeeping?
These tasks used to be managed using books and ledgers, hence the name ‘bookkeeping’. Originally the transactions would be recorded in daybooks, cashbooks, or journals and then transferred to a ledger.Bookkeeping software has now pretty much replaced the need for physical books.
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