Where did my money go?

 

Business owners quite often don’t track or follow where their cash flows through their business.

To understand your money goes you need to know the difference between cash profit and cash flow. The following diagram will explain the difference;

Your cashflow outlays will have affect your profit but it will not necessarily be dollar for dollar. The payment of expenses or repayments may not have the result of reducing your profit. As can been seen from the illustration

When running a business our goal is to make a profit, but we also don’t like paying tax! Right?

So you need to understand that paying for expenses may not reduce your tax bill but by tracking your cashflow and planning your outlays it will help improve your business because you understand what drives your net cashflow.

Get your free cash flow assessment – Contact Sciacca’s Today

 

Sciacca’s News – June 2018

As we come to the end of the financial year its a good time to reflect on the year that was and what you want to change for the new year ahead.

We’re here to help you look at your options and give the advice you need to achieve your goals. Contact the office today to book in a meeting.

In this month’s news we’re bringing you:

  • EOFY Checklists
  • What is the Business Portal?
  • $20,000 instant asset write-off

If you have any questions, please do not hesitate to contact the office 07 3357 5553.

>>READ MORE…

Sciacca’s News – May 2018

As the end of the financial year is fast approaching it is a good time to start putting in place some strategies and tips for 2019.

In this month’s news we’re bringing you:

  • One Page Business Plan
  • 10 Small Business Tax Saving Strategies
  • Individual Tax Tips

If you have any questions, please do not hesitate to contact the office 07 3357 5553.

>>READ MORE…

Sciacca’s News – April 2018

We’re now in the last quarter of this financial year and it’s the perfect time to start tax planning! Book in to see us so we can check you’re on track and paying the right amount of tax!

In this month’s news we’re bringing you updates on:

  • What distinguishes a growing business from a declining one
  • Set up access to the SBSCH

If you have any questions, please do not hesitate to contact the office 07 3357 5553.

>>READ MORE…

Sciacca’s News – March 2018

We understand running a business is hard enough without having to deal with ransomware, viruses and spam. In this months newsletter we have included some very important information regarding the new Mandatory data breach notification law and cyber security.

If you have any questions, please do not hesitate to contact the office 07 3357 5553.

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Sciacca’s News – February 2018

We’re now almost two months into the new year, how are things going so far? Have you got all your plans in place? If not, we can help with budgeting, cashflow forecasting and general advice to help you ensure you reach your goals this year. Come in and see us or we can come to you.

This month we’re bringing you updates on:

  • How automation can help you save
  • Taxable payment reports for the Building and Construction Industry
  • Top three GST claim essentials

>>READ MORE…

Sciacca’s News – November 2017

As another year is soon coming to an end, it is now a perfect time to develop new goals for the upcoming year and take a good look at where your business is heading. By using strategic thinking and planning it is the best way to take a proactive and positive approach to help you achieve your goals in 2018.

In this month’s news we’re bringing you updates on:

  • Strategies to manage your cashflow (Part 2 of a 2 part series)
  • Is your Christmas party tax deductible?

>>READ MORE…

Sciacca’s News – October 2017

We’re now in the last quarter of 2017! How have you enjoyed this year? Have you achieved what you wanted to? If you’re already thinking about the new year and are ready to set some new goals, remember we’re here to help you achieve them!

Simply give us a call and book in a chat with John.

In this month’s news we’re bringing you updates on:

  • Strategies to manage your cashflow (Part 1 of a 2 part series)
  • Should you leave your job to start a business? Seven steps to consider before making the leap

>>READ MORE…