Cube Accounting

Feeling a little out of your routine?

Here are some simple tips to help you get back into a routine and refocus on your goals.

What’s one thing you want to accomplish this week?

Q1 is almost wrapped up, so September is a great time to check your numbers and see how your business is tracking before Q2 begins.

Before October, take a close look at:

- Profit & Loss: Are you actually profitable so far this year?

- Balance Sheet: Can your current assets cover your upcoming short term liabilities?

- Cash Flow Statement: Where is your cash coming from and where is it going?

- Accounts Receivable Aging: Who still owes you money and which invoices are overdue?

Use your Q1 numbers to spot what needs attention and make smarter financial decisions heading into Q2.

Not confident your reports are accurate? Let’s get your books organised first!

Book a call using the link in our profile or comment “books” below to learn more about our services.

Ready to build the right financial team for your business?

Having the right professionals in your corner can help you stay organised, plan ahead and make smarter financial decisions.

You don’t have to manage every part of your business finances alone. We’re here to help!

Ready for more financial support?

Book a call using the link in our profile or comment “books” below to learn more about our services.

Businesses should reconcile accounts at least once per month.

Behind on your monthly bookkeeping?

Let’s get those books off your to do list.

Book a call using the link in our profile or comment “books” below to learn more about our services.

Using your car for work or business?

Good record keeping can make a big difference at tax time.

Different rules apply depending on whether you’re an employee or running a business.

Not every trip counts as work or business related travel.

Keep receipts and other supporting records for eligible car expenses.

Keep a logbook when required for the method you use.

Don’t wait until tax time to start tracking.

Good records now can make claiming legitimate car expenses much easier later.

Have questions? Drop them in the comments below.

Save this post for later and follow for more practical tax and business finance tips.

What needs the most attention in your business before Q2?

Something else? Add it in the comments!

Spring is a great time to get out, explore and support the small businesses in your community.

Grab your coffee from a local café, shop at a local store, try a new restaurant or book with a local service provider.

A small purchase can make a big difference to a small business.

Tag your favourite local business below and give them a shoutout!

Break even is the point where your revenue covers your business costs. You’re not losing money, but you’re not making a profit yet either.

Knowing your break even point can help you:

- Set realistic revenue goals
- Price your services more confidently
- Understand how much you need to sell
- Plan for profit, not just revenue

Not sure what your numbers are telling you?

Let’s get your books organised so you can clearly see where your business stands.

Book a call using the link in our profile or comment “books” below to learn more about our services.

Remember, turn each goal into monthly objectives, then break them into simple weekly tasks.

What are your Q2 goals?

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If you work with contractors, keeping the right information and records from the start can make your bookkeeping and reporting much easier.

Make sure you have:

- Contractor’s legal or business name
- ABN
- Contact details
- Invoices for work completed
- Records of payments made
- GST details if they are registered for GST

It’s also important to check whether someone is actually a contractor or should be treated as an employee, as different tax and super obligations can apply.

Have questions? Comment below!

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