Know Your Numbers Accounting | Finance

Know Your Numbers Accounting

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23.01.2022 Looking forward to catching up with as many people I can over the next few weeks to hear what they have planned for 2021. If you haven't yet, take a few moments to write down a couple of things you'd like to happen this year. Even better, go the next step and write how you are going to make them happen. You'll have set backs, but if 2020 taught us anything it's how to improvise. Use those lessons and make your goals a reality! #smallbusiness #newcastle #newy #kyna #newyearnewme #goals #candoattitude #planning #businessgoals

21.01.2022 When making business decisions always think about the end result you want. Do you have staff or should you just work from home by yourself? Should you change suppliers? Does the workplace need plants everywhere? All of the answers are found when you think about the outcomes you want in your business. This also gives you a goal to achieve. Working long hours with little time to yourself is easier when you know why you're doing it.... #plantlife #workingfromhome #businesstips #kyna #newcastle #smallbusiness #goals #makegoodchoices #endgame #businessowner

15.01.2022 As the end of 2020 approaches now is a good time to reflect on what worked, what didn't and you did achieve despite a once in a lifetime pandemic. As a business owner it's easy to get bogged down in putting out fires and focusing on what isn't working. Take a moment to recognise your wins in what will have been your most difficult year in business. You'll soon see there is plenty to be proud of! #covid_19 #2020 #newcastle #smallbusiness #supportsmallbusiness #accountant #kyna #businessowner #smartfinancialdecisions #keepgoing #positivevibes #candoattitude

14.01.2022 The face I like to pull when someone asks "is this tax deductible?" More often than not the only difference between being able to claim a deduction or not is a receipt or good records. The cheeky grin is when I know those receipts or records don't exist.... #keepyourreceipts #atleasttakeaphoto #business #kyna #trollface #newcastle #smallbusiness #xero #smartfinancialdecisions #taxawareness #newcastlebusiness

10.01.2022 As your business grows you are going to need more money to keep it going. It could be to buy more of the goods you sell, pay staff or even invest in assets to make your job easier. Think about that before you use the business account for "market research" or a "client meeting" at the pub. While it's fun to do so, you might you are a bit short on funds later when you need the cash to take your business to the next level. #smartbusinessdecisions #business #cashmoney #newcastle #growth #kyna #gettingahead #startup #marketresearch #smallbusiness #yourbusinessisntyourpiggybank

09.01.2022 Building cash reserves in your business gives you both choice and a safety net when things go wrong. They help you get through cash flow problems without leaning on credit cards (or their cousin @afterpayau ) or can be used to reinvest in your business. Helping business owners get into the habit of building cash reserves is one of the first things I work on. They are essential for growth and helping business owners know that if things go wrong, they have a plan #kyna #smallbusiness #newcastle #goodnightsleep #cashmoney #accounting #smallbusinesstips #smartfinancialdecisions #businessowner #startup

09.01.2022 Understanding where your business sits in your industry's value chain is an important part of pricing your products. The value chain is every step in the industry that makes money, for example, the grower sells to a wholesaler who sells to a store. Every point in the value chain can influence the profit margins in your business. If your supplier's prices go up, and you can't pass the price increase onto consumers, your margins will go down. This can have a severe impact on yo...ur business if left unchecked. Last year, To get a better understanding of the value chain for a florist I went with Ash from @filmandfoliage to the Sydney Flower markets. This is me soaking up knowledge and carrying some plants Ash needed for an upcoming wedding. #margins #smallbusiness #kyna #newcastle #profit #chain #product #industry #precovid19 #sydneyflowermarkets #plants

08.01.2022 Do you know what taxes you need to pay when you start your business? GST is payable once your business starts making more than $75,000 in sales a year. How often you need to pay it is based on how high your sales are - the higher your sales the more often you need to pay it. At the end of the year you'll have your Income Tax on your profits. Make sure you put enough money away to cover these taxes. I've seen many businesses struggle because they had a tax bill they didn't kn...ow about. Photo Credit: @alexjack.photography Hand Model: @filmandfoliage #newcastle #smallbusiness #smallbusinesstips #entrepreneur #taxawareness #nomoresurpriseGST #kyna #startup

08.01.2022 Have you got a plan for your business in 2021? No? Then get in touch with us today and book yourself in for a KYNA Business Check-up. Start the year with:... - A thorough break-down of your business with a CPA qualified accountant. - A discussion of your road blocks and identify any issues you may not have realised yet. - Strategies and solutions for your business in a detailed report, complete with an action plan to implement. If this is what your business needs make sure you get in touch for more details!

08.01.2022 I have a couple of things on my radar when it comes to growing my business. One of those is a workspace. While I love working from a coffee shop and bumping into people, you can't build a good operating rhythm bouncing employees from one coffee shop to another. I need a place to grow. Preferably one that looks a little like this board room. This being said, investment in a space can be a large upfront cost and paying rent can chew up your profits very quickly giving you litt...le to reinvest back into your business. The extra revenue I'd make from an office may just go straight to a landlord which doesn't sound like fun at all. As always balance and knowing your numbers is key to finding the right space. And being a little bit of a tight-arse also helps #decisions #growth #kyna #business #newcastle #smallbusiness #accountant #tightarse #fitout #allthethings #withoutpayingforit

06.01.2022 While I strongly encourage spreading Christmas cheer throughout the festive season, overspending will only make your life difficult in January when you can't join the #newyearnewme movement because you have no money. There are plenty of ways to embrace the joy of Christmas without letting your spending get out of control. Beware of @afterpayau too. It's basically a credit card with a new name. Cheeky corporate #catfish. #kyna #christmastime #christmascheer... #festiveseason #hohoho #business #smallbusiness #accountant #smartfinancialdecisions #newcastle #avoidahangover #businesstips See more

05.01.2022 In a world where there is an app for everything, leveraging technology is a great way to save time in your business. If you're like me and use @xero you'll know exactly what I'm talking about. Before going out and subscribing to service for your business it's important to have a clear understanding of what process the software is replacing. Otherwise you'll end up with an expensive, convoluted process that could be better replaced with a pen and paper. #kyna #business #newcastle #subscribe #allthegearnoidea #lowoverheads #businesstips #smallbusiness #software

03.01.2022 Sitting and waiting for something to happen can be just as expensive as having a go! Make sure you weigh up all the costs, including the cost of doing nothing, when looking at which direction to take your business. Which is easy when you Know Your Numbers #newcastle #businessowner #smallbusiness #kyna #zing #punintended #sorrynotsorry #makegoodchoices #playthelonggame