1st Break Accounting Blog

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What is tax deductible at Christmas?

Christmas is a great time of year! The parties, the gifts, the tax deductions...

Hold on there!

To avoid a tax hangover, make sure you know what you can, and can’t, claim as a tax deduction when it comes to Christmas parties and gifts.

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3 great reasons to have a personal budget

Budgeting is on my mind this month! I’m holding a free webinar on [DATE] all about business budgeting.

I’ve also written you a blog post on my 3 favourite reasons to also have a personal budget.

Budgets may feel hard to create, perhaps a little complicated??

I’m on a mission to make them easy for you! I know what a valuable tool they can be in business and in life, so I want to make them as simple as possible.

Click here to read how why your business and personal budgets can be best friends.

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How to use your budget to make better business decisions

What do you do with your budget once its completed? I find that many business owners are unsure how to use their budget throughout the year, so they tuck it away and don’t look at it again.

But a budget isn’t only there to calculate your potential income and expenses for the year ahead. It can also help you make better business decisions throughout the entire year.

In this blog post I share five ways to use your budget.

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How to accurately calculate income in your budget

A budget is a powerful planning tool that allows you to make informed decisions about your spending. Yet, it can be confusing working out what your income will be over the next 12 months, especially with seasonal fluctuations and the state of the economy.

In this blog post I share the three main areas you need to consider and provide questions to help you accurately calculate your budgeted income.

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How to create a budget in Xero

Knowing your numbers is an essential part of running your business. One of the best places to start is to create a budget, so you know what your estimated income and expenses will be.

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Which expenses go in your budget & how to calculate them

Budget. It’s one of those words that can be triggering, as you feel that its going to be too restrictive and you won’t be able to enjoy running your business as you have to stick to a budget that doesn’t allow for any enjoyable spending.

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The essentials of superannuation for business owners

Women tend to have 25% less in their superannuation than men. That’s quite a startling figure, especially since we tend to live longer than men.

I’ve discovered over the years of working with my clients that women don’t place enough importance on contributing to their super when they become business owners.

I want you to be financially empowered, with a strong future ahead of you, which is why I’ve written this blog post on the essentials of super for business owners.

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5 simple steps to consistently review your business numbers

Consistently reviewing your business numbers is a CEO move!

But which numbers do you review and what are you looking out for? There are 4 key areas I recommend you review on a regular basis. Ideally, I want my clients to review their numbers at the end of each week, but this will depend on the size of the business and number of transactions you have. A monthly review is the minimum.

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How to be consistent with your bookkeeping

Keeping your books up to date is a key part of your business, yet it’s not everyone's favourite task! Whether you’re doing your bookkeeping yourself, or outsourcing that task, I always recommend created a weekly bookkeeping habit.

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9 Key areas to review in your Balance Sheet

Balance sheets are one of the most under appreciated tools in your financial toolkit. Many business owners download this report at the end of the year, have a quick look, and tuck it away in a digital drawer.

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How to interpret a profit & loss statement

When it comes to working out what your Profit & Loss is telling you it can feel confusing. This blog takes you through step by step instructions to create your profit and loss and the areas I look at with some of my clients.

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How to manage a cashflow crunch

Cashflow crunches aren’t fun but there are steps you can take now to manage them. I’ve put together a list of practical actions that you can take to bring your stress levels down.

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Taking your business to the next level

What does the “Next Level” in your business looks like?

In this blog I share the four key areas I discuss with my clients when they are considering the jump to their next level of business growth.

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