This year, Christmas Day falls on Wednesday, with Boxing day on Thursday.  The same with New Years Day and The Day After New Years Day (they so need a better name for this day!).  So no Mondayising of any of these public holidays this Christmas. Here is what you need to know about rights for ..read more

Most people are not aware that technically, legislation says that annual leave payments need to be paid, in full, before an employees leave is taken. Thinking about why this is, takes us back to the days of being paid with a little brown envelope fill of cash, and the fact the employee won’t be here ..read more

There is nothing in the Act to determine when a payment must be made when an employee’s employment is terminated. There is so much to do for a final pay, and it can become a rushed activity on the final day of employment with the potential to get it wrong. If agreed between the parties ..read more

With Christmas coming up fast like a freight train without any brakes and the payroll team are working hard to manage all the extra payroll changes over this time.  One of the biggest questions this year is “When do I have to pay my staff?”   With Wednesday and Thursday both being public holidays, and popular ..read more

Drawing up the right financial documents matters to your small business’ success more than you think they do. They can give you a clear view of your financial health and can help you make sound decisions. Below are the six most useful financial documents that you can benefit from: Income statement – This shows your ..read more

Selecting the right accounting software is a crucial decision for your small business’s financial health and accuracy. With numerous options available, this process can seem daunting, but making an informed choice is essential to streamline operations and mitigate risks such as financial fraud and regulatory non-compliance. Introduction The challenge of choosing appropriate accounting software stems ..read more

If you’re like many business owners, you may find yourself struggling to understand what your finances mean or how you can use your financial information to make decisions for your business. Often we get into business because we love a product or service we want to provide. It’s not as common that we love managing ..read more

When you run your small business, you have a lot on your plate. That makes it tempting to let some tasks slide, especially tasks that are related to finances, which can be challenging and is often outside your preferred skill set or experience. There are some tips you can follow that keep your finances healthy ..read more

Financial models are invaluable tools designed to help you understand and project the financial health of your business. By simulating different scenarios and examining potential outcomes based on various inputs like sales growth, margins, and cash flow, these models provide a comprehensive picture that aids in informed decision-making. Practical steps for leveraging financial models: 1. Planning and forecasting Start by creating a base financial model incorporating your current financial data. Input variables such as projected sales, estimated expenses, and planned investments. This will allo ..read more

Ever felt like the term “current ratio” sounds like something straight out of a high school mathematics class that you’d rather forget? You’re not alone. But here’s the thing – understanding the current ratio can be a game-changer for managing your business’s financial health. Here’s a simple breakdown. What is the Current Ratio? In the simplest terms, the current ratio measures your business’s ability to pay off its short-term obligations with its short-term assets. Think of it as a snapshot of your financial flexibility. A healthy current ratio means you’re sitting pretty and can easily hand ..read more