Bookkeeping & Payroll Services for Small Businesses

 

  This time of year can be unpredictable for businesses—whether it’s a period of increased activity or a temporary shutdown. That’s why understanding and managing your cash flow is critical. Effective cash flow management ensures your business remains resilient and ready to grow, no matter the season. Here are some practical tips to help you stay on top of your finances: 1. Understand Your Cash Flow Start by preparing a cash flow statement. This document tracks all cash coming in (from sales, loans, or investments) and going out (expenses, payroll, inventory). Regularly reviewing it will help you identify patterns and anticipate potential cash surpluses or shortfalls. 2. Optimise Your Receivables Speed up customer payments by offering incentives like early-payment discounts and setting clear payment terms. Use digital invoicing and send reminders to minimise delays. 3. Monitor Your Inventory Excess inventory ties up valuable cash. Implement inventory management systems ...

 

  A recent legal dispute has spotlighted serious payroll issues within a prominent Australian organisation, underscoring the importance of robust payroll management and compliance. The case, involving a senior HR professional, raises pressing questions about organisational accountability, payroll processes, and employee protections. The Background The organisation, which has not been publicly named, stands accused of underpaying employees due to payroll process errors. A former HR executive alleges that these underpayments were not only substantial but potentially systemic and deliberate. The mismanagement reportedly spanned several years, affecting numerous employees and resulting in significant financial discrepancies. The former HR professional, who held a senior position, claims she was dismissed after raising concerns about the underpayments and urging action. Her legal team contends that her actions fall under whistleblower protections under Australian law, which shield...