A good accountant or financial controller is an invaluable right-hand person in your business. A person who understands the numbers and can interpret what is happening so you can make better decisions is worth his or her weight in gold.
If you are considering hiring such a person, the key to an effective interview is to ask two types of questions:
There is an old saying that goes, “If you aim at nothing you will hit the target with amazing accuracy”.
As the end of financial year approaches, have you considered what your aim is for the next financial year? Now’s a great time to start thinking about it.
For a start, look for a system that monitors financial progress so you always have a hand on the pulse of your business. Then ask yourself these questions.
At MYOB, we make it a point to celebrate small businesses all the time. Today, we’re putting the spotlight on our small heroines in conjunction with the International Women’s Day on the 8th of March.
These women not only represent our everyday heroines at MYOB, but also your everyday big heroines. They are mothers, sisters, daughters, wives, partners, best friends, and mentors. They are many roles in one, yet very special to many.
All small business owners in one way or another dream of owning a business that can support their current lifestyle and provide freedom to manage their own life, income that will provide a comfortable retirement and a solid foundation for their family. Healthy strategies for sale or intergenerational transfer of a business are vital to protect your dreams.
One client asked me when she should start planning her exit from her business and was a bit shocked when I said from the day she started up. I am a firm believer in always having an exit strategy, as you never know what life will throw at you. I have seen illness, premature deaths, divorce and changes to the economy or specific industries force people’s hands earlier than expected.
The cards have been sent, bookings have been made, and your Christmas shopping list is all but done except for that one last gift you need to find for the cousin who has everything. As you count down towards the long stretch of freedom between Christmas and New Year, there may be one last thing you have forgotten to attend to.
If you own a business and employ staff, you need to comply with MySuper changes. From 1st January 2014 (that’s 12 days away by the way!), superannuation guarantee contributions need to be paid to a fund with a MySuper product or an employee chosen fund.
We've all been predisposed to the idea of cleaning up when spring arrives. For the pro-active people reading this, you might be looking at your clean desk while thinking the job is done. For the rest of us, I’d still recommend a quick desk sweep today.
But here’s another cleaning session you might have missed. There’s no need to bring out the Windex, wipes and rubbish bags; this session needs nothing more than a tea or coffee and a bit of determination. We’re going to look at the data your company uses and how a spring clean can help increase your revenue and money whilst saving you time.