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EOFY is fast approaching.  Now is the perfect time to reflect on your business's performance for the past year and determine how to prepare for the coming one.

Preparing for the EOFY can seem daunting, it doesn’t have to be though. Below are some tips to help you prepare.

  • Be aware of relevant tax changes
  • Get your tax deductible expenses in order
  • Be aware of all applicable benefits
  • Know the value of your depreciating assets
  • Keep your income producing assets up to date
  • Keep your records in the cloud
    Using online tools not only saves you time but can have long term benefits on your bottom line.
  • Be aware of what is on the ATO’s watch list
    *The Australian Tax Office is transparent about what they pay close attention to every year.

This is the ideal time to plan for the future, develop realistic profit and loss forecasts for the next 12 months, and set business goals. You encourage your employees to do it – now it’s your turn to make SMART goals. Set business goals that are Specific, Measurable, Attainable, Relevant, and Time bound. Setting SMART goals helps keep you accountable and focused on tangible ways to grow your business.

Day to day organisation pays off, and it can be easy with our cloud based job management software. All of your information is stored in the cloud, nice and neat in one place. No more worries about updates or other notes getting misfiled in a different file cabinet. You can see invoices and payment details all in one place. Help take the guess work out of locating files with our job management cloud based service software. 

Being on top of your paperwork and having accurate records enables you to have a better view of your business and can help you plan for the future. With easy to use reporting, see how your business did this past year so you can make informed goals for next year.  

Find the right solution for your business with our free Fleet Management Buyer’s Guide.

Our product integrates with many industry-leading accounting packages  so you may  reduce your manual paper work and invoicing while maintaining up to date business and customer information. And with detailed reporting, creating SMART goals is an easy way to keep your business on track. 

Plan for growth with our product, the field service management software that works for you!

This post is not official financial advice, simply some tips and ideas to help make life a bit easier in what can be a stressful time for all.  Please speak to your financial planner and/or accountant to obtain advice where appropriate. Our product does not warrant or represent the information contained in these blog posts. 

*http://suttondouglasslawyers.com.au/australian-taxation-office-our-insights-and-projections-for-2016/

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