First, let’s take a look at your cash flow forecast. Cash flow forecasts are like a calculated guess. It may or may not actualize. However, it’s important that you have a cash flow forecast as it will help you “see” how your business will fare through the next 3 months, 6 months, or the next year. (more…)
Learn How to Collect Your Money Faster All businesses need money. It’s needed to pay your workforce, buy equipment, stock your shelves, buy raw materials, etc... (more…)
There is a reason why cash flow projections sometimes don’t work for a business. So what are the actions that can contribute to a failure? We are going to answer that one at the end of this topic so first, let us review how developing a cash flow projection or forecast can benefit a business such as yours. We will...
Every successful business needs regular access to financial information and to non-financial performance data that drives the business’ results. My Business Manager automates these processes and makes it easier to be aware of how the business is performing and whether there are any potential problems that need early attention before they affect the business and the profits. In most businesses,...
Over 10,000 accounting practices use MYOB solutions and services to streamline processes and maximise their productivity. Over 700,000 businesses use MYOB accounting software, payroll software and real-time business management tools and MYOB Add Ons. (more…)
A Cash flow forecast is similar to a financial statement but as the name suggests, it is a forecast of your business’ future cash flow capabilities. It can assist you and your team to determine whether or not your business is ready to proceed with any financial commitment for the business. (more…)
The Accounting industry has changed its focus considerably over the last few years. As a result, large companies have started offering accounting services to smaller SMEs and software companies have been producing accounting software packages to make it easier for people and businesses to do their own bookkeeping and preliminary accounting services. (more…)
Accounting firms has declined according to a report from IBISWorld (a research firm). This comes after half a decade of declining industry activity following the recession and stumbling economic recovery resulting in medium-sized firms shrinking or merging with others and causing several smaller firms to stop operating. (more…)