Things to do in business before the Christmas Break
Posted 29 Nov '17
Posted 29 Nov '17
The end of the working year is a manic time for any business owner, it can be easy to forget the basic to-do’s on your checklist so here’s a couple of end of year tips for what to get in place before the break and get you on holidays in no time.
1. Inform your Clients/Suppliers of Christmas Trading
If you are closing down for the Christmas break or will have skeleton staff on, now’s the time to ensure your clients are aware. If your clients order products from you, it’s also important to let them know the cut of date to receive goods before the end of the year.
2. Ensure you have sufficient cash flow for the holiday period
If you aren’t in retail the Christmas break can be a testing time for small businesses. It’s important to ensure you won’t be left short and have a struggling start to the New Year. Work out your cash flow over Christmas and get your invoices out and paid beforehand to assist in your cash flow management.
3. Ensure your payroll is processed
Automate your payroll and process pays so you don’t have to interrupt your holidays.
4. Clean up your inbox and tie up any loose ends
You want to go into your holidays stress free and ready for the New Year. Ensuring that you have actioned everything required and cleaned out your inbox means you can head into the holidays satisfied and relaxed.
5. Review Your Goals & Make New Ones
After you’ve celebrated the year that has been with too many glasses of champers at the office Christmas party. The best way to set your intentions for 2018 is by reviewing your goals and making some new ones.
We hope you’ve had a great year in business and enjoy a well-deserved Christmas break!
Many business owners think tax planning means meeting with their accountant in June and finding a few last-minute deductions before the end
of the financial year.The reality is that true tax planning starts much earlier in the year.
For established businesses, proactive tax planning isn’t about scrambling to reduce tax at the last minute. It’s about creating a strategy
throughout the year that supports business growth, improves cash flow, and helps owners make better financial decisions.
For many small business owners, the end of the financial year (EOFY) feels like the finish line. Once tax planning is complete, financial statements are prepared, and compliance obligations are lodged, it is tempting to return to business as usual.
Looking for the best accountant in Brisbane? Learn what to look for in an accountant, from proactive advice and communication to tailored support for growing businesses.