Budgets and Cash Flow

Budgets and cash flow management is important for every business. Not everyone pays attention to it however. Budgeting can be a great way to pull you toward a goal, be that turnover, expenses, profit or both. You can then measure your progress against the goal that you have set for yourself.  We can assist you in building a budget to achieve your goals. You can give us the information you know and we can assist by calculating the rest. In Xero we can easily enter your budget and compare it to your actual figures every month and help you stay on track.

Cash flow forecasting is crucial for businesses that are needing to keep a close eye on their bank account. We can assist in basic ways, such as setting up draft bank transfers to a savings account on a set frequency for you to approve to put aside money for GST, PAYGW (employee taxes withheld), PAYGI (company income tax instalments), superannuation etc. so that the money for these obligations is separate to your general trading account. This makes is easier to manage the remaining cash for wages and supplier payments. At a more advanced level we can forecast based on your budget.

You can check out our article on the benefits of budgets here.