The year is well and truly in full swing and keeping on top of your financials is starting to become more complicated by the day. Monitoring your expenses, from supply chains to payroll, can be a headache at times.
Whether it’s financial light-work or heavy lifting, the team at Oracle Accounting has you covered. For tradies who’d rather be out on the tools rather than crunching the numbers, Oracle Accounting can help with a number of areas including bookkeeping, tax planning, asset protection and other business advice to help your operation run as smoothly as possible.
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Keeping the green in your pockets
Oracle Accounting can provide specialised services to help improve your business, including specific tips to benefit cashflow. There’s plenty of cash to be saved through invoicing, and below are some tips from Oracle Accounting on how you might do this:
- Many tradies are so busy doing the work that their customers want done, that they forget or don’t make time to send the customer a bill.
- If not already done, tradies need to get into the cloud and get a good cloud accounting software like Xero which will allow invoicing as soon as jobs are completed.
- Using the cloud means keeping an audit trail of transactions; this is helpful if emails need to be sent to delinquent accounts or to a collection agency.
- In Xero, automatic reminders can be sent for invoices that remain unpaid.
- Prompt invoice = prompt payment. Time needs to be set aside to invoice; it should be as soon as the job is done.
- Ditch paper – paper invoices get lost. Paper invoices create excuses for slow payers.
- Take payment on the day by offering multiple payment options, such as EFT, Credit Card, BPay, Stripe, eWAY, Afterpay, PayID, etc.
For more information on Oracle Accounting and its services, visit oracleaccounting.com.au.