small business bookkeeping

Basic Accounting Principles

Whether you intend to do your bookkeeping or plan to pay someone else to do it for you, gaining an understanding of the basic accounting principles will help you to understand your bookkeeping reports. Why are basic accounting principles important? One of the purposes of accounting information is to enable us to compare and contrast the performance of a business … Read more

excel consulting

Basic Bookkeeping

If you are running a small business as a sole trader or a family partnership, keeping track of your business records (i.e. basic bookkeeping) is going to be important, not just for you but also for the ATO. Basic bookkeeping done correctly can provide you with important information about how your business is operating and enable you to make informed … Read more

cash flow

Cash Flow Statement

Even if you do the bare minimum regarding financial reporting, Cash Flow Statements can be critical. Cash flow is vitally important whether you are in the start-up phase or have been operating for a while. Your business may be making a decent profit (on paper) but if you do not have enough cash coming in to pay the bills, you … Read more

what is an income statement

What are Income Statements?

What are Income Statements? They are one of the critical financial statements that you will need to develop for your business. An Income Statement is a historical document that provides information about the business performance in a prior period. A proforma Income Statement is a planning tool used to estimate future performance. What is an Income Statement? The Income Statement … Read more

small business bookkeeping

Small Business Bookkeeping

Small business bookkeeping is one of those activities that no one really wants to do. Many small business owners have very little experience with accounting processes before opening their doors. But it is one of the important tasks in running a small business. Tracking your transactions to calculate profits, and working out who owes you money, and how much tax … Read more