Functional Business Solutions

19/04/2024

Are you using all the functionality on Xero Payroll to make payroll easier? If you are based in South Australia, a for-profit, small business owner with an ABN, employing 20 or less this may be for you https://adelaidebusinesshub.com.au/events/using-xero-to-digitise-your-payroll

This webinar is offered through Adelaide Business Hub as part of the Digital Solutions Program

Using Xero to Digitise Your Payroll To attend, you must be a South Australian, for-profit, small business owner with an ABN, employing 20 or less. **This workshop is part of the Digital Solutions Program** The webinar will focus on how payroll can be simplified to ensure your payroll is compliant wi...

08/04/2022

The financial implications of your goals and strategies will be reflected in the financial forecasts in your business plan. Your goals will identify the areas of improvement, like an increase in sales or a reduction in costs, and your strategy will identify any additional expenditure needed to achieve these goals.

Most business plans will include a 12-month cash flow forecast, a profit and loss forecast, and a two- or three-year projection.

Your cash flow forecasts will identify whether you have sufficient financial resources to implement your plans immediately, or whether you will need to explore other financing options. Monitoring your actual spend against your projections is a way to ensure that new project costs do not escalate much beyond planned expenditure.

05/04/2022

We have got you covered with Remote Cloud Bookkeeping.

We are experts in multiple software platforms and apps and we can help you choose the most suitable ones for your business - that will actually help make your life easier!

Also, we won’t just tell you what you need to do, we are here to help you IMPLEMENT it and stay ACCOUNTABLE (see what we did there!) in your business.

We are trained to help you in Xero, Myob, Quickbooks and Hubdoc.

https://functionalbusiness.com.au/remote-cloud-bookkeeping/

31/03/2022

Keep your goals realistic and pertinent to current general economic conditions, and to your specific industry conditions.

For example, in a period of global economic downturn, it is more effective to look at ways to decrease costs than to increase sales.

28/03/2022

Robbo is an electrician (yes we changed his name).

During business hours, Robbo would be busy getting contacted by potential clients for quotes and complete jobs on his very busy schedule. It wasn’t until he finally got home at night, he would then have to sit down at a computer and do all the quoting and invoicing.

Robbo was spending so much of his personal time playing catch-up. So we helped his business implement Quickbooks on a tablet.

This allowed him to take notes while chatting to potential clients and send a quote straight away, locking people in sooner.

It also allowed him to invoice instantly at the end of a job and store photos so he could look back and see exactly what was done.

This simple online system made life so much easier for Robbo’s business and gave him back important time in the week.

24/03/2022

Setting goals might sound scary but your business will not operate as efficiently and effectively without defined goals. They’re also a great reminder in tough times what you’re here for.

In your business plan, consider goals for some or all of the following topics:

Financial objectives – for example, to increase turnover or reduce operating costs by 5% this year.

Strategic objectives – for example, to increase the number of corporate clients by 20% within two years.

Operational objectives – for example, to increase output by 10% within six months.

Marketing objectives – for example, to increase total sales to existing customers by 10% next year.

Social/Environmental objectives – for example, to decrease your carbon footprint by 5% each year for three years.

Don’t forget to make them SMART and put To-Dos for your top priorities.

21/03/2022

Get the most out of your business.

We understand that you don’t have the time to know all the ins and outs of your administration and bookkeeping systems.

Our solution provides practical solutions from a team that has years of experience. We can review your current systems, provide recommendations, and train your staff for greater efficiency and productivity.

17/03/2022

If you don’t have a business plan, you might compromise growth or miss out on opportunities by sweating the small stuff and not focusing on what matters most.

Having a clear business plan from day one keeps you focused on the goals that are crucial for success and provides guidelines for day-to-day operations and decisions.

14/03/2022

“Why do I even need a business plan?”

We all know this person! There is no logical reason to wait for external motivation (like your bank manager asking to see your business plan) before you write one.

Your business plan can help identify your priorities and can be used as a benchmark to measure your progress towards achieving your goals.

The purpose of your business plan is to map out a strategy and action plan for your business, but it also serves as a reference document for external parties with an interest in your business.

10/03/2022

Important upcoming dates in March:

21 March
Lodge and pay February 2022 monthly business activity statement.

Always refer to the ATO for correct information: https://www.ato.gov.au/Tax-professionals/Prepare-and-lodge/Due-dates/March-2022/

08/03/2022

Your business plan is a living document that grows and changes over the lifespan of your business.

Reviewing your progress against your business plan, on an annual basis, is a good way to measure actual performance, and will form the basis for revising and updating your plans.

When was the last time you reviewed your business plan?

Check out our Business Planning article: https://functionalbusiness.com.au/resources/the-importance-of-business-planning/

07/03/2022

We are proud to be a female-led small business, based in Adelaide, but servicing businesses all across Australia. Gender diversity in our industry has traditionally been a tipped scale so we are proud to represent women in business.