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Gambit Financial

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24.01.2022 2. How often should you be meeting with your accountant and what should you be discussing? If you’re only hearing from your accountant once or twice a year, and that’s simply to file a tax return, there’s a fair chance you’re being short-changed. Yes, accountants can save you time by handling the paperwork and keeping you compliant. But we’re oh-so much more valuable to your business than merely existing as an extension of your admin function.... To make the most of your working relationship, you should be meeting with your accountant regularly to discuss: Set goals and how best to achieve them; What funding you might require to meet those goals; When you might run out of cash; When to hire new staff or expand into new markets; When and how to buy equipment; And much, much more.

23.01.2022 FYI Employers: The JobKeeper Payment is changing, so more employees can qualify. There are changes to: 1. the eligibility criteria... 2. a payment extension to 31 August, and 3. employers can nominate different employees if their employment has changed. For more details on the changes, see https://www.ato.gov.au//JobKeeper-Payment/Employers/Your-/

14.01.2022 3. Why is cloud accounting the OG in todays business? Your ability to access important financial data could be the difference between success and failure. In fact, we believe using cloud accounting software should be a prerequisite for owning a business nowadays. If your accountant isn’t in your ear, buzzing about the cloud and telling you it’s the OG, it might be time to look elsewhere. Particularly if they’re happy letting you continue to use outdated desktop software, or a...n error-strewn spreadsheet to run your numbers. Why is the cloud so great? Let us count the ways # Real-time Data You’re not waiting weeks or months to understand how your business has performed. You can see straight away, with a few taps or clicks. Better yet, you can sit with your accountant and discuss this information together, without first being tasked with mind-numbing manual data entry. # In-depth Reporting It’s not just the fact that cloud accounting platforms can give you access to reports, it’s the amount of detail they can provide. Want to know just how much you spent on office supplies this time last year? It’s only ever a few seconds away. # Third-party Integrations As your business grows and evolves, you can start taking advantage of time and money-saving apps, all of which interface with your accounting software. CRM and POS systems, payroll, inventory management, debt tracking, and so much more - building a streamlined, savvy, and efficient business is more affordable and achievable than ever. # Instant Access, Anywhere, Any Time Unlike traditional accounting software, the cloud-based version lets you login from anywhere. Open an app on your smartphone as you’re sipping Mai Tais on the beach to make sure an important invoice was sent. Using the cloud keeps you connected and in-tune with your business, no matter where you are in the world.

04.01.2022 1. What reports should you be receiving? Whether it’s weekly, monthly, or quarterly, you should be seeing reports of your business’s performance. Without access to those numbers and the insight they provide, you’re essentially driving blindfolded. Here’s what you should be receiving:... * Income Statement (month and year-to-date) - This will help you identify how your business is performing over the months, pinpointing trends and opportunities. * Balance Sheet (month over month with change column) - This report shows your financial position and helps you plan how to meet your financial obligations. * Accounts Payable (weekly) - In other words, who do you owe money to? Do you have sufficient funds to make those payments? * Accounts Receivable (weekly) - Likewise, who owes you money? Do you need to chase someone for payment? * Cash Flow (monthly) - Where is your cash coming from? Where is it going? Are there any gaps coming up that you need to fill with external funding? * Bank Balance (daily) - What is your current cash situation? Checking in on your bank balance helps you keep your finger on the pulse of your business.

04.01.2022 JobKeeper - What has changed? NOW: - $1500 paid fortnightly to eligible Australians... FROM SEPTEMBER 28 - $1200 a fortnight for workers on 20 hours or more - $750 a fortnight for workers on less than 20 hours FROM JAN 4 - $1000 a fortnight for workers on 20 hours or more - $650 a fortnight for workers on less than 20 hours Useful reference: https://www.business.gov.au//jobkeeper-payment-for-employe