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Is your business a bank? The curse of long payment terms in Australia

By Patrick Crivelli on 26-Oct-2016 11:00:00

 How many banks are operating in Australia? You’re probably thinking there are at most 20 banks. You would be very wrong. There are actually thousands, possibly hundreds of thousands of banks in Australia. ‘How is this so?’ I hear you ask. Well, every time your customer makes you wait for an invoice payment, you have effectively become a banker - presumably without the six-figure bonus or Ferrari.

Long payment terms - How does Australia compare to the rest of the world?

By Alistair Lamond on 23-Aug-2016 11:00:00


New-Age Cash Flow Forecasting Methods for Bookkeepers

By Patrick Crivelli on 03-Aug-2016 11:40:25

“Everybody has a plan until they get punched in the face.” - Mike Tyson

Have you ever noticed how your budgeted projections don't look anything like your historical numbers? Projections tend to resemble a calm blue ocean however historical numbers look more like a tumultuous pot of troubled energy. The world is a volatile place, especially for small businesses. Despite this, we have a tendency to create smooth forecasts that rarely reflect reality. This is partly why SMEs frequently get blindsided by cash flow problems.

5 simple rules for how to do a cash flow forecast for small business

By Alistair Lamond on 26-May-2016 09:30:00

Having foresight over your monthly cash flow statement is critical to the survival and success of your business. Every business owner should be asking the following questions to best understand how to do a cash flow forecast for their small business:

"Can we pay our employees at the end of month?"

"Do we have the cash to pay PAYG and GST at the end of the month?"

"Can we afford to take on this big new customer?"

"Can we get prices if we pay suppliers earlier?"

3 ways to control small business cash flow

By Patrick Crivelli on 25-Feb-2016 07:30:00

“A rising tide floats all boats but it’s only when the tide goes out that we can see who was swimming naked”  - Warren Buffett