By Greg Logue
We all know the importance of cash in any business! It’s the lifeblood of what you do and without it, the doors close. Simple concept.
As business owners, you need to be thinking differently. In addition to the daily grind, you need to understand what’s happening behind the scenes. How is the business performing? Am I compliant with government and industry requirements? What do I need to do to push my business in the right direction? Why am I so exhausted and there’s no money in the bank?
A fundamental aspect of running any business is knowing the numbers. And I don’t mean knowing just what’s in the bank account! It goes beyond that. It’s understanding concepts like income, expenses, profit, assets, liabilities, equity, tax….the list goes on! To help you with this, it’s important that one of the first things on your business ‘to-do list’ is get some accounting software, and one of the best business accounting packages on the market is Xero.
We live in an age where technology is constantly changing. What we use today is out of date tomorrow. Gone are the days where a cashbook and receipts were used to track the finances of a business. We need real-time data to make real-time decisions. Without that you may miss an exciting opportunity. Xero is an amazing cloud based bookkeeping tool which gives you everything you need to know about managing your finances and understanding how your business is truly performing. As business owners, the key to making the most of your software is understanding it’s capabilities and working with your accountant to better educate yourselves on financial reports. I look forward to presenting on this topic at the 2018 National Home Staging Symposium – see you there!
Greg Logue is a Senior Accountant at DFK Crosbie and an advisor to business owners across a range of unique industries. Focusing on business growth and peace of mind for his client’s, Greg has over 10 years’ experience in providing solutions to everyday business problems. Whether it be getting a business off the ground, taking it to the next level or working towards a long-term goal, Greg tailors his approach to suit your needs. Using reliable financial data, Greg and his team can provide strategic advice to drive your business in the right direction.
If you would like to see Greg live, secure you place at the National Home Staging Symposium for 2018!