Happy New Year! Although many do possess business skills, financial acumen is rarely high among them. In this article, we list three common financial mistakes that we observe frequently.

Wish your cash flow was more predictable? Xero has teamed up with GoCardless so you can accept direct debit payments, to get your ad-hoc and recurring payments flowing without having to go to great lengths.

As well as bringing up your profit margins, add-ons also help save you time and streamline your cash flow. Work with us to empower your business with the technology to automate mind-numbing admin tasks, and focus on what you do best. So what add-ons should be on your hit list? 

It may seem paradoxical, but you can be profitable and still go out of business. Or you can make massive ‘bottom line’ losses but be in good fiscal shape. The reason – cash.

Summer can be a tricky time for cash flow. It doesn’t have to be; the quiet summer period can be incredibly productive. Use Xero's small business advisory panel's practical tips to avoid the summer slump.

There’s a long list of unpleasant things most business owners would rather do than bank reconciliation. Traditionally, it’s mindless and time-consuming.

However, the bank reconciliation functionality within Xero feels more like a video game than work.

Spotlight Reporting is Xero's most popular advanced reporting software add-on, providing another level of insight that all business owners who aspire to success should embrace. 

Here at Alliott NZ, we also exist to help our clients to succeed.

Anyone running a business knows the story: one day, there is a pile of cash in the bank, then it appears to disappear overnight.

Here are some more tips to help you manage your cash flow if you ever find yourself in this situation.

Anyone running a business knows the story: one day, there is a pile of cash in the bank, then it appears to disappear overnight.

Here are some tips to help you manage your cash flow if you ever find yourself in this situation.

Are overdue invoices keeping you up at night?

Check out Xero's four useful tips to help manage late payments.

This week Xero released their latest integration with Apple, the ability to pay Xero invoices with Apple Pay. Mobile payments are the way of the future. It’s predicted that by the end of this year, mobile payment transactions in the US will grow 210%.

Debtors are a major risk for small and medium enterprises. If your business is lagging behind in terms of late payments, read what you can do to lessen debtor days outstanding and collect the cash that your business needs.

We all know that cash flow is king. But just how much sway does it have? Well, you might want to ask the nine out of 10 small businesses that have failed because of cash flow problems.

According to Dun & Bradstreet 90% of small businesses close their doors because of poor cash flow management.

When you have more money going out of the business than is coming in, if you can’t pay your bills, you’re running at a loss. You may have a big order in the pipeline that will cover you but you might need to seek out a loan to cover you until the money comes through.

You can distinguish temporary cash flow issues from larger issues but, either way, you need to act.

At Alliotts, we can help you understand the impact of your cash flow of either offering credit terms or reducing your days in receivables. It could be significant and it’s different for every business.

If you’re interested in finding out what it looks like for your business, then read on.
 

Alliott NZ in conjunction with Tradeworx and Lawyer Karen Overend present a seminar for BUSINESS OWNERS IN THE CONSTRUCTION SECTOR on 14 April in Auckland.

Click here to register for free.

#helpingyoutradebetter

When speaking with your current accountant, do they have a good handle on what drives your business?

We list 6 targeted questions you can ask yourself to find out.

The age old saying, “Cash is King” certainly holds true throughout Christmas! Not only do you want to have enough money to enjoy the summer break, you also need enough to cover GST, payroll taxes, provisional tax and staff holiday leave.

Exceeding your business potential?

​Did you know that Alliotts not only works with construction and trade businesses to minimise tax, file GST and income taxes. We also work with businesses like yours to establish what is needed to really get humming.

#helpingyoutradebetter
 

The challenge of purchasing anything for your business is not merely a ‘click and buy’ exercise. Often business owners have to invest considerable time researching the next upgrade, the best financing options, or weighing up the impact on cash flow.

Opting for the right solution is essential for the smooth operations and further growth of your business, so here are 5 dos and don’ts to help you find the best solution.