Accounting basics
Whenever you make a business decision, you should always have figures to back it up. On this page you'll find accounting basics to keep your business on track and encourage investors.
Record keeping
Running a business can be unpredictable, but a good record-keeping system can make things easier. On this page you’ll learn about record keeping – what you need to keep, how to keep records and how long to keep them for.
Key financial terms
Find a list of financial terms that you might come across when dealing with accountants, financial services, or while running your business.
Business bank account
When starting a business, consider setting up a business bank account to help keep track of your business finances. Find out when you need a business bank account, and the benefits of having one.
Choose between cash and accrual accounting
Not sure what method to use to manage your books, or which one is best suited to your business? Understand the differences between cash and accrual accounting, and the pros and cons of each.
Create a budget
A budget is an important financial statement. It tells you how to direct your money to where it's needed most. There are a number of things you'll need to know to put your budget in place. Follow our steps to creating and using a budget for your business. You'll also find handy templates to use.
Accounting tips and steps
Do you know the difference between gross profit and net profit? Confused about margin and mark up? Understand how to use financial ratios and calculations like these, to help manage your business. On this page you’ll find how use sales calculations and ratios for profitability, liquidity, financing and turnover. [Read More…]
When starting a business, there are things you’ll need to consider to organise your finances, such as bookkeeping, payments and your budget. Follow our steps to organise your finances and keep your business on track. [Read More…]
A balance sheet shows your business assets (what you own) and liabilities (what you owe) on a particular date. Use our template to set up a balance sheet and understand your business’s financial health. [Read More…]
A profit and loss statement tells you how much your business is making or losing. Use our template to set up your profit and loss statement, so you can better manage your business sales. [Read More…]
A cash flow statement can be one of the most important tools in managing your finances. Use our cash flow statement template to help plan your business payments. [Read More…]
The end of the financial year is an important time for your small business. You’ll need to complete bookkeeping, tax returns and plan for the new financial year. Learn how to prepare for the EOFY to get your business organised and work smarter in the year ahead. [Read More…]
An important part of your business plan should be to improve the financial position of your business. Follow our steps to improve your financial position and cash flow. You don’t have to use all the steps, or follow them in any particular order. Choose the ones that best suit your business situation. [Read More…]