Happy End of Financial Year!
Happy End of Financial Year!!!!! I really hope that you’re excited as I am – I love End of Financial Year! It’s the most exciting date in the calendar, right? Or is it just me? I think it’s just me….
End of Financial Year is just like the other end-of-the-year; the only difference is that not many of us make ‘financial resolutions’. So, if you haven’t already, I’d like to encourage you to make some financial resolutions.
Maybe you’d like to increase your profits, improve your sales or grow your business during this new financial year?
We have a challenge for you this End of Financial Year – pick at least ONE Financial Resolution that has the greatest impact on your business and then put it into practice today.
In this week’s episode of Catalyst Plus TV, we offer three New Year’s Resolutions you’ll want to keep.
To help you meet this challenge, we offer 3 financial resolutions in this week’s episode of Catalyst Plus TV.
1. Find a financial advisor.
Statistics show that businesses with a financial advisor are 50% more likely to succeed than those without. If you are seeking a financial advisor, there are brilliant financial advisors here at Catalyst Plus who can help you!
Alternatively, if you use Xero for instance, one place to look to find a financial advisor in your area is www.xero.com/au/advisors
2. Otimise your accounting system.
Once you’ve got a financial advisor, it’s a good idea to make sure you’re using your accounting systems to their best ability. At times, this may involve transferring to a new, optimised system.
If your current system requires computer access but does not allow you the flexibility to work on your mobile phone when you are out and about, for example, you may want to consider changing your accounting system to one that is accessible on your mobile phone. This would enable you to be more productive while on-site with clients – to do accounting or generate invoices, for instance – rather than wait until you return to your work-place.
3. Do regular bookkeeping.
Now that you’re optimising your accounting system, it’s time to reconcile your books on a regular basis. I know a lot of businesses that wait until their BAS deadline to update their accounts – which can be up to three months.
While bookkeeping is an administrative effort, if its causing problems in your business, a solution may be to find a great bookkeeper to assist you. Options include small accounting practices or possibly a bookkeeper to work on-site – or even off-site if you are using cloud based systems.
Now that the new financial year is here, you may like to consider the three financial resolutions we’ve proposed. If you’d like to share your financial resolutions with us, please leave a comment below on www.catalystplus.com.au .
Have an awesome EOFY party – including beers on Happy Friday!!