Managing the finances of a sports club or association can pose certain challenges. Many local sporting clubs and associations work within very tight financial constraints, often relying on volunteers to help manage the finances. Choosing the right cloud accounting software to make the process simple and painless will not only make it easier for your volunteers and staff to manage the financial management of your organisation, but it can also provide greater transparency over the process. But what should you be looking for in good accounting software for your sports club or association? Compl ..read more

Okeydokey, there’s been some grim Australian business news pouring in throughout this April. We sorted through the chaff to collate the most newsworthy developments for the month to keep you well informed. So, what happened in the world of business during April, and how might it affect you as a small business owner? Business insolvencies are up over the last 24 months and will likely continue Business insolvencies over FY2023 and FY2024 are up significantly and are set to continue until the new financial year. A new April report from illion, which draws from ASIC data, reveals the concerning ..read more

Guest post by AON. Here’s why keeping appropriate records can help during a claim. In a world where almost everything is paperless, keeping records and filing documentation is something that might slip your mind as you go about your usual business. While digitisation has made record keeping easier in some ways, it has also brought about some complexities. While there was a time when everything needed to be done in writing, nowadays a simple phone call can be enough to prompt action. Record keeping also goes beyond simply filing documentation. Think of all the ways you might interact with cli ..read more

Guest Post by AON. There’s not much in life that comes without risk – whether it’s starting a business, or even just crossing a road. When it comes to running your business, the biggest risk in your mind is probably not making a profit. However, events such as a client tripping over and injuring themselves while at your premises, or having legal action taken against you due to advice you provided are also incidents that can have a substantial impact on your business. While you might hold insurance to help cover you for such events, it’s also important to have a well-rounded approach to risk m ..read more

Much like those people who don’t understand the difference between Aussie rules, league and association football and call them all footy, a number of small business owners use the terms accounting and bookkeeping interchangeably. In reality, they are two entirely different things. Knowing the difference between accounting and bookkeeping will ensure your small business finds the correct help it needs. An easy start is to say that an accountant can be a bookkeeper but a bookkeeper isn’t an accountant. Should you hire a bookkeeper or an accountant? There are a lot of misconceptions when it com ..read more

Another year around the sun. Earth Day 2024 is on 22 April, and awareness and participation has never been more vital. The importance of Earth Day, and the real-world effects it has, can’t be overstated. The world is at a severe tipping point in terms of environmental degradation and only swift and collective action will avert what will essentially be a global catastrophe. Yes, it’s really that bad. But we can do it if we all intentionally join in action. The theme this year is Planet vs. Plastics. So, what does that mean, what events and actions will be taking place, and more importantly, wh ..read more

Guest post by AON An overview of key policy and cover types, best practices for choosing the right policy and making claims. Business insurance is a purchase you should make, not necessarily one that you want to. But it’s also no understatement that a lot can go wrong while running your business – despite your professionalism and expertise, some things are still out of your control. Whether it’s theft, a customer injury, property damage or a data breach, these are just a few things that can occur. Without insurance, these issues may result in huge costs for your business that you will have to ..read more

What’s been cracking in the world of business throughout March? We nailed down the most pressing news for Aussie small businesses (that might actually affect you). We have the ATO chasing tax debts, the Fair Work Commission making decisions on the national minimum wage, and more steadying of interest rates and inflation. Let’s dive in. The ATO backtracks and calls in previously ‘written off’ tax debts In a move that has raised eyebrows and stoked backlash from at least two federal Ombudsmen in a recent report, the ATO has resurrected old tax debts that had been previously ‘written off’. The ..read more

Here we go lads and lasses, the Easter long weekend is coming at us like a startled hare. So, what do you need to think about now before the long weekend hits you in the face? Different businesses will have different needs over the Easter holiday period – retail will have some hoops to jump, while online retailers will be more concerned with pulling as much trade as possible.  But lets’ go through the basics to ensure you’re prepared … Brick and mortar retail may have restricted trade As you may be aware, the main difference between online trading and physical retail will be opening res ..read more

If you’re either already running your own business or gearing up – one of the more important statements you can produce is a cash flow statement. Cash flow is the life blood of your business and critical to being able to pay debts and survive, nay, thrive. Poor cashflow is often cited as the most critical factor for businesses to prosper. Let’s unpack this critical aspect to business management. What is cash flow in simple terms? Cash flow is basically a measure of the flow of money in and out of your business. Revenue flows in while expenses flow out. This means that cash flow represents yo ..read more