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Is your business in good shape?
 

As we reach the midway point of the first quarter, we're looking at why you need to know your key numbers to build a strong business. 

We're also checking that you have made all the changes that came in on 1 July.

If you need any help with anything, please don't hesitate to give us a call.

Cheers, 

John Sciacca

IS YOUR BUSINESS IN GOOD SHAPE?

Keeping your records up to date is one of the best things you can do to increase your business’ value, provide easier access to finance and allow a better insight into how you are performing.

Rather than just being a compliance issue, your key numbers and reports are an important tool to help you grow, exert control and measure your progress.

When you are active in your reporting, measuring, monitoring and acting on it, you are more likely to be successful. When you are attuned to your financial situation, you will be able to respond more appropriately to changing circumstances and more easily identify looming cashflow problems. This allows you greater access to finance and more flexible business strategies.

You are also more likely to achieve your targets when you closely monitor your financial records. By keeping your financial data up to date, you can compare how you are going more than once a year. You are able to identify problems or issues early and act on them right away. 

With our help, we can work with you to delve into more complex targets and compare your working capital ratio, stock turnover ratio and profit per employee ratio to averages in the industry.

We can also do regular health-checks of various aspects of your business. Stock and purchasing practices should be reviewed every six months and asset stock-takes taken on a quarterly basis so obsolete equipment can be written off. Keeping on top of the payroll system can also return dividends. 

By regularly tracking your profit and loss statements, you can assess the health of your business and refine your sales targets. Your balance sheet and cash-flow statement will also give you an idea of the net-worth of your business and put you in a better place to take on seasonal trends and changes in your industry.

As they say, 'knowledge is power'. Get a handle on your numbers and your business will be in great shape!

ATO CHANGES FOR EMPLOYERS

Are you up to date on all the changes that came into effect on 1 July? These include Super, Tax and FBT. To check you've got everything in place, click here.
Call 07 3357 5553
john@sciaccagroup.com.au
235 Stafford Road, Stafford 4053
PO Box 1570, Stafford 4053
www.sciaccagroup.com.au
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21 August Due date for July monthly activity statement

25 August Due date for Qtr 4 activity statement 2013/14. 
Taxable payments annual report 2013/14 

28 August Due date for lodging quarterly Superannuation guarantee charge statement 

21 September Due date for August 2014 monthly activity statement

30 September Due date for lodging the PAYG withholding payment summary annual report
Do you know of anyone who would benefit from our services? We love to share information with clients and friends, so please send this newsletter to anyone you think might be interested in us, or our content, or our services. The first meeting is complimentary.
We recently sent out details about Audit Insurance to our business clients. If you missed it, or if you are an individual salary/wage earner and are interested in finding out how you can safeguard yourself against the cost of an ATO audit, visit our website or contact us and we'll talk you through it.
Sciacca's Financial Services is an Authorised Representative of Count. 'Count' and Count Wealth Accountants® are trading names of Count Financial Limited, ABN 19 001 974 625 AFSL 227232 ("Count") a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.
Copyright © 2014 Sciacca's Accountants and Advisers, All rights reserved.


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The content of this newsletter is provided for information purposes only. Sciacca's Accountants + Advisers does not accept liability to any person for the information or advice, or the use of such information or advice, provided herein. The information and advice provided is of a general nature only. No person should rely on it without seeking professional advice which takes account of their specific circumstances.